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Breakthroughs at Arab Summit Confront Israel and the U.S.
On the Current Mideast Situation
by Lyndon H. LaRouche, Jr.
TVA on the Jordan: A Predecessor To LaRouche's Oasis Plan
Israeli Women's Movement Follows A Lesson Taken From Aristophanes
Israeli War Economy Implodes
Robert RubinWas Cited
by Lyndon H. LaRouche, Jr.
Russia Confronts 'Free Trade' Damage, Debates National Economic Strategy
Greenspan and Volcker Play Public For Suckers
More Nations Revolt From WTO Free Trade
LaRouche, in Milan: 'Real Leadership Is Needed'
Entrepreneurship and the Moral Mission-Orientation of Economics
Is Bush's Crusade For Or Against Terrorism?
Voters Have Rejected Surrender by Pastrana
Who's Been Making U.S. Policy on Columbia?
China Targetted by S.E. Asia War Games
Ashcroft's DOJ Wages Jihad Against Muslim Americans
AshcroftUnveils 'Freedom's Corpse' Police-State Program
Military's CINCs Warn Congress on Iraq War
April 1-7, 1933
As spring progressed, and with it the planting season, the political and economic situation in the farm sector became hotter and hotter. Debate on the Agricultural Adjustment Act (AAA), which had been introduced during the first week of the Administration, was dragging on as well.
One of President Roosevelt's major concerns was the rapid rate of foreclosures of mortgaged farm property. If the farmers were not to explode in rage, and if planting were to proceed, there would have to be arrangements made to provide credit to the farmers, and to keep them on their farms. On March 27, the President had already issued a message and executive order consolidating nine Federal agencies that dealt with agricultural credit into the Farm Credit Administration. The aim was less to save money, than to create a system "for the purpose of meeting the credit needs of agricutlure at minimum cost."
The major focus of this new agency was to be the refinancing of farm mortgages. But for that to be effective, new legislation was necessary.
That legislation came on April 3, when the President sent a request for passage of the Emergency Farm Mortgage Act. The request included the following appeal:
"That many thousands of farmers in all parts of the country are unable to meet indebtedness incurred when their crop prices had a very different money value is known to all of you," he said, referring to the deflationary collapse of farm prices. "I seek an end of the threatened loss of homes and productive capacity now faced by hundreds of thousands of American farm families." The bill called for the refinancing of farm mortgages at 4.5% interest. In addition, the President said that he would soon call for supplemental legislation calling for reciprocal tariff agreements.
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