Restore short-term farm credit through the new agricultural credit corporations, RFC loans to processors and financing of export sales

It has been aided directly through the intermediate credit banks and especially through the 10 new agricultural credit associations which alone can command over $300 million credit and which are now being erected and within the next week will be operating in all parts of the country. We are thus rapidly everywhere restoring normal short-term credits to agriculture.

But even more important than that, at my recommendation that Corporation has been authorized to make credits available for sales of farm products in new markets abroad.

Since that date the farmers of the Northwest States have asked for a loan with which to sell 15 million bushels of wheat to China, and I believe that, despite technical difficulties which have been raised before the Reconstruction Corporation, we shall find solution and secure relief to those farmers with consequent aid to the whole wheat situation.