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Show u . _ 30 PER CENT GENT AVERAGE CUT CUTREQUIRED CUTREQUIRED CUTREQUIRED REQUIRED FOR CROP LOANS LOANSReduction LOANSReduction the theacreage theacreage theacreage Reduction of 30 per cent in acreage planted to cash crops will be berequired berequired berequired required this year of farmers tanners who pro- pro procure procure pro procure - cure crop production loans . , Secretary Secretaryof SecretaryI of Agriculture Agnculture Arthur M Hydc Hyde an- an announced announced an announced - nounced this week in making public publicthe publicthe publicthe the regulations regulatJons governing the Wd 1933 1933loans 1933loans loans . ? In 'n n ' making mahing available for crop produc produc- productiors productiors productions - tions tiors loans this year $90.000.000 90000.000 90000000 $90,000,000 $ , . , . of ofReconstruction ofReconstruction ofReconstruction Reconstruction Finance rinance CorporatiOn CorporatiOnfunds Corporationfunds Corporationfunds the secretary sec- sec secretary sec secretary - funds , Congress specified that secI I retary of agriculture might require , as asa asa asa " . the theborrower theborrower theborrower a condition of any loan , "that that .that his acreage acreageor borrower agree to reduce on such basis basisnot basisnot basisnot or production program not to exceed 30 per centum , . as .as may maybe maybe maybe " ' The Thesecretary's Thesecretary's be ctcrmlned tcrmincd determined < by the secretary Thesecretary's Thesecretarys secretary's secretarys ' regulations , however , stipu stipu- stipulate stipu- stipu stipulate stipulate - - late that acreage reduction will not be berequired berequired berequired required of farmers who , in 1933 , plant plantno plantno plantno no more than 8 acres of cotton ; 2Y.a 2Ya 2Y.aacres 2 2acres % . ' acres of tobacco , , 40 acres of wheat ; ; 20 20acres 20acres 20acres acres of corn , , Ws 21h 2/ 2 2acres / acres of truck crops : ; ; 8 acres of potatoes , , 30 acres of rice , , 8acres 8acres 8 8acres acres of peanuts . Farmers seeking crop plOductfon production plOductfonloans productionloans pi eductionloans loans this year are advised to obtain obtainapplication obtainapplication obtainapplication application blanks and copies of the theregulations theregulations theregulations regulations in their home counties countiesrather , rather than from Washington Field Fieldagents Fieldagents Fieldagents agents of the crop production loan loasi ; office of- of office of office - fice are arc now designating representatives representa representa- representatives representatives - tives in each farming county to inform informprospective informprospective informprospective prospective borrowers of the require require- requirements requirements requirements - ments governing loans and to distrib rlistrib- rlistrib distrib- rlistribute distribute distribute - - ute application blanks blank.c blankc blankks . ; and other neces neces- necessary necessary - - sary forms These . agents .agents will assist assistfarmers assistfarmers assistfarmers farmers in filling out applications , , without chargeAccompanymg chargeAccompanying charge Accompanying Accompanymg the required 30 per percent percent percent cent reduction in acreage planted to tocash tocash tocash cash crops , . above the established e5tablished mini mini- minimum minimum minimum - mum , the 1933 regulations limit the theamount theamount theamount amount available avallable to any farmer to to$300 to300 $300 300 $ In 1932 , . crop production loans loanswere loanswere loanswere were made to 507,632 507632 , farmers , averag averag- averaging averaging averaging - ing $126 126 $ each No loan in excess of of$100 of100 $100 100 $ will be made to any applicant who whois whois whois is in arrears on as many as two pre- pre previous previous pre previous - - vious loans made by the secretary of ofagriculture ofagriculture ofagriculture agriculture As last year , interest is isfixed isfixed isfixed fixed at 51 514 5 per cent , , to be deducted deductedwhen deductedwhen deductedwhen when the advance is made All notes notesare notesare notesare are due on or before October 31 , , 1933 1933Advances 1933Advances Advances to borrowers borrov.ers borrovers . may be made madein madein madein in installments mstallments , the regulations regulatIom state stateinasmuch , inasmuch as expenditures cxpendItures for crop cropproductIon cropproduction cropproduction productIon are areusually - -usually usually lIsually - made over a acon aconsiderable acon con considerable derabla Iderabl . . periodOne periodOne period periodOne One million milUon dollars of the $90 90 $ 000 000 000funds funds is 1S available for livestock feed in indrought indrought indrought drought or storm stricken stncken areasChargmg areasChargmg areas areasCharging Charging Chargmg a fee for the preparation preparationof of a borrowers ' application is ex- ex exprE'ssly expressly ex expressly - - pressly prE'ssly ' forbidden this year in Section Section3 3 of the Act of Congress authorlzmg authorizing authorlzmgthe authorizingthe authorizingthe the crop production loans Congress Congressfurther Congressfurther Congressfurther further declared these loan funds "to to "tobe "tobe "tobe tobe " be impressed with a trust to accomp accomp- accomplIsh accomphsh accomplish - - lish hsh the purposes provided for by thIS thisresolutionand thisresolution , resolution-and resolution and - and it shall be unlawful unlawfulfor unlawfullor : for any person to make any material materialfalse materialfalse materialfalse false representation for the purpose of ofobtaming ofobtaining ofobtaining obtaming obtaining any loan or to assist in ob- ob obtaining obtaining ob obtaining - taining such loan or to dispose of or orassist orassist orassist assist in dl di disposing posmg of any CIODS ClODS cions gl\ gl glCl giver giveras gi\eras gi eras \ \ Cl " as security for any loin 10'1n 101n ' made under underauthonty underauthority underauthority authonty authority of this resolution except ecept " { for forthe forthe forthe the account of the Secretary of Agri Agrl- Agrl AgrlC'ulture Agri- Agri Agric'ulture Agriculture - - ' culture C'ulture and for the purpose of cauy- cauy cairy- cairy cauying cairying cairy-ing cairy ing - - ing out . , the provisions of thI this , ) resolu resolu- resolutlOn resolution resolution - - tionTeeth tlOnTeeth tion tlOn Teeth for Section 3 are provided in ina ina ina a clause which orders a fine fme not ex- ex exceedinl exceeding ex exceeding - - ceeding ceedinl : { $1000 1000 $ or imprisonment not notexceeding notexceeding notexceeding exceeding six months , . or both , for any anyperson anyperson anyperson person found guilty of violating violatmg the theabove theabove theabove above provisions prQvisions |