Show Roosevelt Signs Farm Aid And Money Inflation Bill Asks Extensions on Liens V WASHINGTON ASHINGTON May 12 President 12 President Roosevelt signed the farm relief-currency relief inflation bill today signaling the assumption by his administration of the broadest powers ever delegated to an executive and his advisors in peace time The ink was scarcely dry before Secretary tary Wallace set his staff to solving one of the most serious problems of the sided many-sided farm program The distress in the milk industry just now most critical in the Chicago territory The president issued a special message urging a halt on all farm foreclosures pending the setting up of machinery for a vast program am of farm mortgage financing for which will be available I A similar message on urban mor mortgages gages was expected later Some of the highlights on the I Farming Inflation Bill DIRECT AGRICULTURAL RELIEF The president and the secretary of agriculture are authorized to use one or all of three methods to raise farm values as follows 1 1 Domestic Allotment Allotment to to determine the consumption of wheat cotton corn hogs dairy products tobacco rice and beet and cane sugar to license producers and processors so go that only domestic consumption consumption con con- requirements shall shaH be sold in the domestic market at prices equal generally to the average in 1914 1909 and to collect a tax from processors to pay the cost 2 To lease marginal lands and withdraw from production sufficient sufficient suf suf- acreage to cut production of agricultural commodities to domestic do do- domestic needs I To guarantee cost cost of production to farmers opposed b by Y Ho House conferees I An amendment providing that the or more bales of cot ton held by farm credit agencies as collateral for I crop production and andI other purposes should be withheld from the the the- market until the spring I of 1930 was adopted FARM MORTGAGE RELIEF I To refinance through voluntary arrangements with wort mortgagors gors I 1 farm mortgages at interest rates of 4 2 1 per cen cent through the is is- is isI I of bonds the interest of which would be gu guaranteed by the tho government I 1 I INFLATION Authorizing the president to use three thre methods of raising the dollar values of commodities s. s 1 By increasing Federal Reserve credits by a maximum of 53 3 2 By issuing up to of Treasury notes secured not by gold but solely by the credit of the United States This money would be used to buy back government securities 3 Devaluing gold content of the dollar by as much as 50 per I cen cent with additional authorization for the president to establish at t his discretion a fixed silver to gold and t to provide for the unlimited coinage of silver at that ratio I The senate also approved an amendment permitting the acceptance acceptance acceptance accept accept- ance of as much as of silver at a maximum rate of fifty cents an ounce on the war debts |