Farm Credit Act of 1940: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-sixth Congress, Third Session, on S.3509, a Bill to Reduce Permanently the Interest Rate on Federal Land Bank and Land Bank Commissioner Loans; to Relieve Federal Land Bank Borrowers of Stock Liability; to Place the Federal Land Banks on a Self-supporting Basis; to Refund and Guarantee the Bonds of Such Banks; to Increase the Functions and Responsibilities of National Farm-loan Associations and County Committees of Farmers; to Provide for the Adjustment and Refinancing of Farm-mortgage Debts; to Limit the Institution of Foreclosure Proceedings and the Taking of Deficiency Judgments; and for Other Purposes. May 7, 8, 9, 10, 16, 17, and June 7, 1940
United States. Congress. Senate. Committee on Banking and Currency. Subcommittee on Agricultural, Finance, Farm Mortgages, and Related Matters
U.S. Government Printing Office, 1940 - 297 pages
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adjustment agency agriculture amended amount application approval authority basis believe bill BLACK bonds borrower capital carry centralization claim Commissioner committee Congress consideration cooperative Corporation cost credit system debt deferments determine district effect elected extensions fact Farm Credit Administration Farm Loan Farm Loan Act farm-loan associations farmers Federal land bank foreclosure give going Government Governor guaranteed income increased installment interest issued judgment July loan associations losses mean meet national farm-loan necessary operation organization paid payments percent period practically present President principal problem production purchase question reason received record reduced refinancing release represent result Secretary Senator BANKHEAD Senator MILLER Senator WHEELER SHORT sound statement suggested surplus thing tion Treasury United
Page 2 - Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended...
Page 126 - Corporation have been reduced during the fiscal year 1941, and prior thereto, in accordance with the provisions of section 32 of the Emergency Farm Mortgage Act of 1933...
Page 114 - ... and no payment of the principal portion of any installment of any such loan shall be required during such five-year period if the borrower shall not be in default with respect to any other condition or covenant of his mortgage.
Page 285 - All obligations issued by the Authority shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under authority or control of the United States or of any officer or officers thereof.
Page 3 - Governor is authorized to make such rules and regulations as may be necessary for carrying out the provisions of this section.
Page 2 - Treasury may, at any time, sell any of the bonds acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of such bonds shall be treated as public-debt transactions of the United States. No such bonds shall be issued in excess of the assets of the...
Page 285 - Such obligations shall be in such forms and denominations, shall have such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and sold at such prices as may be prescribed by the Commodity Credit Corporation, with the approval of the Secretary of the Treasury.
Page 295 - TO AMEND SEC. 18. (a) The right to alter, amend, or repeal this Act, or any part thereof, is expressly reserved. (b) Any provision of the Federal Farm Loan Act, as amended, the Emergency Farm Mortgage Act of 1933, as amended, or other law, inconsistent with the provisions of this Act, is hereby repealed.
Page 152 - ... something of that kind passed — at least I am — in order to restore purchasing power to the farmer and to give him an income and a profit. (The additional data requested of the witness will, when furnished, be inserted in the record at this point.) THE NATIONAL GRANGE, Columbus, Ohio, May 13, 1940. Hon. ROBERT F. WAGNER, Chairman, Banking and Currency Committee, United States Senate, Washington, DC SUGGESTED CORRECTIVE AMENDMENTS DEAR SENATOR WAGNER: In response to the request of Acting Chairman...