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HEARING

BEFORE

THE COMMITTEE ON AGRICULTURE

HOUSE OF REPRESENTATIVES

SEVENTY-SIXTH CONGRESS

THIRD SESSION

ON

H. R. 8748

TO REDUCE PERMANENTLY THE INTEREST RATES 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 SELFSUPPORTING 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

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COMMITTEE ON AGRICULTURE

MARVIN JONES, Texas, Chairman
HAMPTON P. FULMER, South Carolina CLIFFORD R. HOPE, Kansas
WALL DOXEY, Mississippi

J. ROLAND KINZER, Pennsylvania JOHN W. FLANNAGAN, JR., Virginia

FRED C. GILCHRIST, Iowa HARRY P. BEAM, Illinois

AUGUST H. ANDRESEN, Minnesota JAMES G. POLK, Ohio

WILLIAM LEMKE, North Dakota RICHARD M. KLEBERG, Texas

RALPH O. BREWSTER, Maine FRED CUMMINGS, Colorado

ANTON J. JOHNSON, Illinois WALTER M. PIERCE, Oregon

REID F. MURRAY, Wisconsin HAROLD D. COOLEY, North Carolina

FRANK O. HORTON, Wyoming FRANK E. HOOK, Michigan

CLIFF CLEVENGER, Ohio
HARRY B. COFFEE, Nebraska
ORVILLE ZIMMERMAN, Missouri

SAMUEL W. KING, Hawaii
PHIL FERGUSON, Oklahoma

BOLIVAR PAGÁN, Puerto Rico STEPHEN PACE, Georgia

KATHERINE WHEELER, Clerk

ALTAVENE CLARK, Clerk n

CONTENTS

Statement of -

Page

Bell, Hon. Daniel W., Under Secretary of the Treasury-

319

Benson, Ezra T., executive secretary, National Council of Farmer

Cooperatives -

431

Black, Dr. Albert G., Governor of Farm Credit Administration - 8, 31, 58

Boice, Frank S., vice president and chairman of legislative committee,

American National Livestock Association, Denver, Colo..

433

Brown, A. G., deputy manager, American Bankers' Association.-

489

Dickerson, Dr. M.F., president, Arkansas State Farmers Union, Little
Rock, Ark..

119

Doak, W. B., Clifton, Va..

524

Houston, Paul, vice president, Peoples Savings Bank, Cedar Rapids,

Iowa.

494

Goss, Albert S., retiring Land Bank Commissioner.

149, 181, 209

Lee, John E., Attorney, Farm Credit Administration..

107

McConnaughey, R. K., general counsel, Farm Credit Administration.

Marsh, Benjamin, Peoples Lobby, Washington, D. C.--

510

Mylander, Charles H., committee on Federal legislation, American

Bankers' Association, Columbus, Ohio.--

441, 468

Murray, Hon. Reid F., of Wisconsin..

55
O'Connor, Hon. James F., of Montana..

375
O'Neal, Edward A., president, American Farm Bureau Federation.-- 379,

436, 375
Short, R. E., Arkansas State Farmers Union..

379, 413
Taber, L. J., master, National Grange, Columbus, Ohio.

345
Thatcher, M. W., National Farmers Union legislative committee, St.
Paul, Minn.

77, 97
Wallace, Hon. Henry A., Secretary of Agriculture--

247, 275
Wiggins, A. L. M., chairman, committee on Federal legislation, Ameri-
can Bankers' Association.

439, 500

III

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