Evening star., 1937-11-26
.SENATEFARMbODY
ASKSUN|TENABLED
TO ADJUST DOLLAR
Groups Report Asks Power
for One Agency to Guard
Price Levels.
HOUSE BODY VOTES
CROP BILL BY is TOT
Upper Chamber Committee Would
Push Present Price Floor Up
to 1926 Averages.
BY the Associated Press,

BY the Associated Press.
A recommendation for giving a
single Federal agency power to ad-
just and stabilize the value of the
dollar came today from the Senate
Agriculture Committee in its report
on the "ever-normal granary" bill.
Asserting that the fluctuating value
of the currency as we'll as crop pro-
duction affected farm income, the
committee report suggested:
The present price level lis too low
and should be raised to at least the
1926 levels"
Congress should concentrate all
powers over the value of the dollar, :"
IN one agency and order the agency
ito properly adjust and regulate the
value OF the dollar thereafter to
stabilize such adjusted value"
The Senate committee report was
made public just as the House Agri-
culture Committee formally approved
new crop control bill by a l6-to-7
vote, and prepared to start debate or
the House floor Monday.
Chairman Jones of the House COM
mlttee Immediately began writing a re-
port asking the House to accept it
Representatives Andersen, Republican
OF Minnesota and Boileau, Progressive
OF Wisconsin said they would file
minority reports objecting to many
features of the measure.
Stimulated Prosperity.
Reviewing administration monetary
moves, the Senate committee report
said "cheapening of the dollar" by golo
| devaluation moves of the President
had stimulated prosperity by raisins
| prices.
The cheapening of the dollar was 8
deliberate Government policy to raise
the prices of farm commodities" thu
report said. "The policy has worked.
The report attributed the recen
| recession to a rise in the value of tht
dollar since last March, adding:
The committee is of the opinion
and reports that to date we have no,
cheapeneG the dollar sufficiently tt
raise the price level high enough tx
show sufficient profits upon which
taxes are paid to balance the budget.
At present, the Senate group assert.
ed, control over dollar value is ex.
ercised by the President, Secretary O
Treasury, Federal Reserve governors
Federal Deposit Insurance Corp. con
troller of the currency and privat,
agencies.
| On the floor of the chamber. Senate
Pope, Democrat, of Idaho, one of tn,
authors OF the ever normal granary
measure, resumed detailed explana
tlons OF the corn and wheat provisions
Chairman Jones. discussing his com
mittee's new House bill, said he con
sidered provisions for increasin.
domestic and foreign markets of farm
commodities its major feature"
Benefits Open to All.
Explanations in the Senate of tn
"ever-normal granary" program re
vealed that all farmers producing cor,
or wheat "for market" would be eliei
BILE to participate in the program.
The Senate Agriculture Committee'
explanation of its bill, available fo
the first time, said benefit payment
and loans were open to all corn-whea
growers.
Farmers exempted, if they desire
are those who consume rs per cent q
their wheat or corn on the farm. o.
those whose normal yield is less thar
300 bushels of corn or 100 bushels O.
wheat.
A normal supply of corn, it wa.
pointed out, would be about 2,375,.
000, 900 bushels and for wheat 750 ,OO0,.
600 bushels.
The committee report said thes,
restrictions upon sales would place thu
non-co-operator "in the same position
as the farmer who voluntarily reduced
acreage, inasmuch as a non-co-opera.
tor would be required Ito withhold
from market" products above average
yield on the acreage he would hav'
farmed If co-operator.