FARM TENANT ACT HEARING BEFORE THE COMMITTEE ON AGRICULTURE UL. Oxgres HOUSE) OF REPRESENTATIVES SEVENTY-SIXTH CONGRESS THIRD SESSION ON S. 1836 (H. R. 6768) TO PROMOTE FARM OWNERSHIP BY AMENDING THE 212350 JANUARY 24, 25, 26, AND 30, 1940 Serial H Printed for the use of the Committee on Agriculture UNITED STATES WASHINGTON: 1940 WEDNESDAY, JANUARY 24, 1940 HOUSE OF REPRESENTATIVES, The committee was called to order at 10:30 a. m., Hon. Marvin Jones (chairman) presiding. The CHAIRMAN. Gentlemen of the committee, at the last regular session the Senate passed an amendment to the Farm Tenant Act' to provide for operation along lines somewhat similar to the Federal Housing program, and in looking over it there are some phases that seem to overlap the regular act; there is one place that conflicts to some degree, at least. With the help of the drafting service and the Farm Security Administration we have worked up some provisions that it is thought would accomplish the purpose. This particular print has not yet been submitted to the Budget and therefore the representatives, Dr. Alexander and others who are here from the Farm Security Administration who are handling the tenant administ ation, will not be able to make official comments on the bill but they can give us their analysis of it, and also report on the operations of the present act. I asked Dr. Alexander to come up here, and also those who assisted in drafting the bill. Dr. Alexander, we will be glad to hear from you. Mr. FULMER. Do I understand, Mr. Chairman, the bill has not yet been passed on by the Budget? The CHAIRMAN. No; it has not as yet. mitted to the Budget in the regular course. to have some hearings in order to get the amendment. However, it will be subIt was felt that we ought reactions to the proposed (The committee print of the proposed bill is as follows:) [Committee Print, January 22, 1940] A BILL To promote farm ownership by amending the Bankhead-Jones Farm Tenant Act to provide for Government-insured loans to farmers; to encourage sale of farms held by absentee owners to farm tenants; and to enable tenant farmers to become owners of farm homes through long-term low-interest-rate loans on farms, and for other purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Bankhead-Jones Farm Tenant Act is amended by inserting therein a new title to follow immediately after title I thereof and to read as follows: "TITLE IA-FARM-TENANT MORTGAGE INSURANCE PROVISIONS "FARM-TENANT MORTGAGE INSURANCE FUND "SEC. 11. (a) There is hereby created a fund, to be known as the 'farmtenant mortgage insurance fund' (hereinafter referred to as the 'fund'), which |