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1936 › Alf Landon (Republican) › On-farm storage, warehouse receipts and commodity credit

Amend the warehousing act so grain stored on the farm earns a federal warehouse receipt and bank credit

pledge_forwardspecific_pledgecandidate_directevidence A AgricultureBanking & Finance similar solutions · similar reasoning

Solution

Let the farmer who stores insurable grain on his farm borrow from any bank against a federal warehouse receipt, so feed reserves are carried on the farm and surpluses evened out.

Rationale

'We have learned from painful experience that the overfilled crib may quickly become the empty crib.'

Statements (1)

1936-09-22 · Des Moines, Iowa (Evening Star text) · generalcandidate_direct ✓ verified

As part of the plan for removing the depression effect of surpluses I shall propose an amendment to the Federal warehousing act so that reserves of feed, such as corn, can be carried on the farm.

Source: Text of Gov. Landon's Des Moines Speech (Evening Star, Sept. 23, 1936, p. 9) (1936-09-23)

Follow-through

not_applicable

The AAA of 1938's 'ever-normal granary' provided Commodity Credit Corporation loans on grain sealed in on-farm storage -- the mechanism Landon proposed, in a program he opposed.

Enacted by others

1938-02-16

Franklin D. Roosevelt

statute Agricultural Adjustment Act of 1938 (storage loans)

Storage reserves and loans on farm-stored grain. source

1936-landon-on-farm-storage-warehouse-receipts · created by claude-fable-5-1 · review: unreviewed