Evening star., 1934-07-08

(Continued From First Page.l
ton, it would certainly appear that
they could obtain money. The list in
cludes the Federal Farm Mortgage
Corporation, the Federal intermedi-
ate credit banks, the Federal land
banks, the production credit corpo-
rations and association regional
agricultural credit corporations. seed
loans and crop production loans, the
banks for co-operatives and the Land
Bank commissioner If the farmer
cannot obtain money there must be
some good reason why credit should
not be extended to him or there must
be inefficient administration of these
agencies.
The Farm Credit Administration
was designed to provide complete
and co-ordinated credit system for
agriculture. 1t was destined to make
available TO farmers long-term, short
term and intermediate credit in the
shape of farm mortgage, production
and cooperative marketing loans.
Credit Systems Set Up.
The Federal Farm Mortgage Corpo-
ration, with authority to issue some
$4,000 900 in bonds, to be used in
the main to aid in refinancing hard
pressed farmers whose farms were
threatened because of the mortgage
loads, was set up. The production
credit corporations and associations
are intended to provide a permanent
production credit system for agricul-
ture. This system may eventually be
owned and controlled by the farmers
in the IL Federal Land Bank districts.
Loans are made to farmers for gen.
eral agricultural purposes, including
the producing and harvesting of crops,
the breeding, raising and fattening of
live stock and the production of
poultry.
The A. A. A, which has been the
subject of widespread discussion,
praise and ATTACK. was created to pro-
mote national recovery by restoring
the purchasing power of the American
farmer to the leyel it occupied during
the hve-yeal period preceding the
World War. To accomplish this end,
many methods have been adopted and
many experiments tried, including
crop production control. marketing
agreements and licensing, codes of fair
competition, removal of burdenSome
surpluses of agricultural commodities
from the regular channels of trade.
Farmers Cut Crops.
The farmers have been persuaded
to reduce their wheat and cotton
acreages, their tobacco acreages and
have received checks from the Gov
ernment for so doing. Processing
taxes have been levied upon the pro-
ducers of manufactured food products
and cotton goods, ETC., to pay for
these crop production decreases. All
of these activities have necessarily
called for the employment of many
persons to handle them. The last
Congress put through the Bankhead
cotton bill alld the Kerr tobacco bill,
both bringing about compulsory con-
troll by the Government of the cotton
and tobacco production, through a
system of prohibitive taxation on crops
raised in excess of the allotments to
the individual farmers.
The new Government agencies deal
ing with industry include the N. R., A,
the Reconstruction Finance Corpora
tion, which came over from the Hoo
YER administration, but whose powers
and duties nave been greatly increased
curing the last 16 months; the Stock
Exchange Commission, the Federal
Communications Commission. the new
Labor Board which supplants the old
National Labor Board, headed by
Senator Wagner of New York All
of these agencies have wide powers
and cover wide range and give en-
ployment to lot of people. Mention
should be made, too, of the two ex-
port-import banks set up by the Gov
ernment in Washington.
Many Social Agencies.
There are also many new agencies
looking to public and social improve
ments, like the Public Works Ad-
ministration, the Tennessee Valley
Authority, under which come the
Electric Home and Farm Authority,
Inc, and the Tennessee Valley Asso-
ciated Co-operatives. Inc; the Federal
Subsistence Homesteads Corporation
and the more recently appointed
Committee on Economic Security to
work out the program of social legisla-
ton, including employment and old
age insurance. for submission to Con-
gress next rear.
Government agencies dealing with
relief of the destitute and unemployed
have been set up, including the Fed
eral Emergency Relief Administration
and the Federal Surplus Relief Ad-
ministration. And there have been
many other boards and adminiStra-
tions touching other activities of the
people. The Home Loan Bank Board
which originated in the Hoover ad-
miniStration, has been revamped, and
the Home Owners Loan Corporation
set to work The Federal Alcohol
Control Administration was created
after the repeal of the eighteenth
amendment. There are the Petro-
1eum Administrative Board. the Gen.
trail Statistical Board, the Science
Advisory Board, the Executive Coun-
Gil, the Federal Co-ordinator of
Transportation, the Federal Deposit
Insurance Corporation. the National
Emergency Council and the United
States Information Service.
Roosevelt Legislation.
Many of these agencies we're ap-
pointed in conformity with legisIa-
tion enacted by Congress. The legis-
lation, however, was recommended by
President Roosevelt. He had to have
the authority of Congress to set up
these new agencies. Other commits
sions and boards have been appointed
by the President to make studies con-
sidered necessary by the administra-
tion for the new deal plans
1t seems clear from the program of
additional new deal legislation out
lined generally by President Roosevelt
not long ago there will be still more
Government agencies created by the
Congress and the Chief Executive
during the next session. Indeed, the
Committee on Economic Security,
which is composed of Secretary Nor
genthau of the Treasury; Miss Perk-
ins, Secretary of Labor; Secretary
Wallace of the Department of Agri-