Show REESON REES ON SENATE FLOOR flOOn R Revised McNary-Haugen McNary Bill C Carrying Stabilization tion Plan Is Introduced w Dec 14 AP APT AP- AP T The i cattle Battle over over relief relic le legislation legisla legisla- islaI isla- isla I tion was reopened today In the senI senale senate sen- sen ate ale when the 1 McNary- McNary c arY- arY Haugen bill revised in an effort to I win necessary S' S was vas g by Chairman n 1 tile ary c ary of or th the agricultural c committee sF I Through its presentations presentation farm r relief lIer advocates ocate who have havo been awaiting a vehicle of or debate from I now on will wUl Le be In a position JO to press the their cause whenever presents Itself r The measure which which designed ls is designed to facilitate the the handling handling of oC surplus surplus surplus sur sur- plus crops was described 1 by Sena Senator Sena Sena- tor McNary as necessary spry to to im- im prove proc c the condition of ot the American American Amer Amer- ican farmer fanner And ond to protect his standard of living It It combines the plan tor for stabilising stabilizing ising izing five basic commodities he lie said cotton wheat corn hogS hoga and andrice andrice andrice rice through the use of n s stabilization tion trust drawn from flom each with a credit plan for stabilizing all air farm commodities in so far fars' fars s' s it dan nn be bedone bedone done through the wide wllie extension 61 of credit to cooperation It Is not in any particular a price fixing de device device le- le levice vice or plan AIMS TO ST STABILIZE i surplus a The bill is essentially control bill the sole aim aUn being to stabilize prices through control of or orthe the surplus For th that t purpose a separate stabilization stabilization fund fund is provided pro provided vided for fOI each of the five basic commodities These stabilization funds are to be drawn from the i marl marketed eted units of or each commodity and are ale to be employed In iri disposIng disposing disposing ing of the surplus by co cooperatives or by Ut persons engaged In processing such commodities No public f funds may be he used directly dl- dl di directly in effecting such controls but loans may be made from a re revolving re- re fund of or to to the he several commodity stabilization funds in anticipation of or the collection collection collection tion the orthe equalization fees all such loans to be repaid with Inter Inter- est The federal farm board which board which would be created by the the bill will not itself buy or sell anything on onIta its Ita own o account s All reference to price l levels els and price standards are arc omitted The aim is to provide funds drawn from each commodity to be employed in stabilizing the marl market et for that commodity commodity com com- by sound commercial meth meth- The federal farm board would have a nominating committee chosen by farm organizations to tomake tomake tomake make nominations to the president for membership of the board Non- Non salaried commodity advisory counsel counsel counsel coun coun- sel for each commodity would Ibe be appointed by the board from representative representative rep rep- producers' producers associations The equalization fee would be collected collected collected col col- at the most convenient point po nt along the commodity's route to mar mar- ket Loans not exceeding could be m made de by the board to co cooperative cooperative cooperative co- co operative organizations for paying the cost of storage and processing Loans Leans to cooperatives would Inot be restricted to to handlers of or the five basic baste commodities but might be bema ma made to associations handling any farm commodities is provision will enable the board to accomplish all that can be the way way of f farm relief Jeller through loans to cooper cooper- cooperatives cooper cooper- es Senator McNary said |