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1932 › Herbert Hoover (Republican) › Farm prices and agricultural surplus
Farm prices can be restored only by general recovery and markets — no production control, no subsidies; repeal Farm Board stabilization
pledge_forwardspecific_pledgecandidate_directevidence A AgricultureEconomy & Fiscal Policy⚡ The Great Depression similar solutions · similar reasoning
Solution
Repeal the Farm Board's stabilization (price-support purchase) provisions while keeping its cooperative-marketing work; oppose any bureaucracy controlling farm production or subsidies; rely on tariff protection, credit, reopened export markets via war-debt payments and world stabilization.
Rationale
'No power on Earth can restore prices except by restoration of the general recovery and by restoration of markets'; subsidies 'bring only more bureaucracy and their ultimate collapse'; stabilization purchases leave 'a damaging aftermath' on disposal.
The clearest policy contrast of the campaign: Roosevelt's Topeka 'tariff benefit' plan versus Hoover's categorical rejection of production control.
Statements (6)
We will support any plan which will help to balance production against demand, and thereby raise agricultural prices, provided it is economically sound and administratively workable without burdensome bureaucracy.
The platform is markedly more open to production-balancing plans than the candidate's own statements.
The fundamental problem of American agriculture is the control of production to such volume as will balance supply with demand. In the solution of this problem the co-operative organization of farmers to plan production, and the tariff, to hold the home market for American farmers, are vital elements.
We still have vast problems to solve in agriculture. But no power on Earth can restore prices except by restoration of the general recovery and by restoration of markets. Every measure that we have taken looking to general recovery is of benefit to the farmer. There is no relief to the farmer by extending governmental bureaucracy to control his production and thus to curtail his liberties, nor by subsidies that bring only more bureaucracy and their ultimate collapse. And I shall continue to oppose them.
Experience has shown that the patent weakness of such actions is the damaging aftermath which accompanies disposal of these products. I am convinced that the act should be revised in the interest of the farmer, in the light of our 3 years of experience, and that this particular provision should be repealed.
Now, I come to you with no economic patent medicine especially compounded for farmers. I refuse to offer the counterfeit currency or false hopes. I will not make any pledge which I cannot fulfill.
The Democratic candidate promises to relieve agriculture with a 6-point program which amounts to envisaging to distressed farmers a great structure of agricultural relief, but he has refused to submit it to debate. He has disclosed no details of the plan except six methods by which he can escape from the promise.
Follow-through
not_applicable
Hoover lost the election; the pledge could not be tested in office. The AAA did exactly what Hoover said he would continue to oppose: federal payments to control production.
Enacted by others
| 1933-05-12 | Franklin D. Roosevelt | statute Agricultural Adjustment Act | Reversal. source |
Other positions on this issue
- Raise staple farm prices by a tariff-equivalent benefit plus voluntary production control, at no cost to the Treasury — Franklin D. Roosevelt, 1932 specific_pledge
- Restore purchasing power to the farming half of the nation — Franklin D. Roosevelt, 1932 directional_stance
- Cash benefits on the domestically consumed portion of export crops to make the tariff effective, limited to the family-type farm; no scarcity program, no processing tax — Alf Landon, 1936 specific_pledge
- Continue soil conservation and domestic allotment payments; end ruinous surpluses; commodity loans on seasonal surpluses — Franklin D. Roosevelt, 1936 directional_stance
1932-hoover-farm-prices-only-through-general-recovery · created by claude-fable-5-1 · review: unreviewed