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President Herbert Hoover signs the Farm Relief Bill (June 15, 1929) The Agricultural Marketing Act of 1929, under the administration of Herbert Hoover, established the Federal Farm Board from the Federal Farm Loan Board established by the Federal Farm Loan Act of 1916 with a revolving fund of half a billion dollars. [1]
Hoover advocated the creation of a Federal Farm Board, which was dedicated to restriction of crop production to domestic demand, behind a tariff wall, and he maintained that the farmer's ailments were because of defective distribution. Coolidge finally committed himself to a farm board plan for price stabilization by co-operatives.
Coolidge instead supported the alternative program of Commerce Secretary Herbert Hoover and Agriculture Secretary William M. Jardine to modernize farming, by bringing in more electricity, more efficient equipment, better seeds and breeds, more rural education, and better business practices.
The Federal Farm Board was established by the Agricultural Marketing Act of 1929 from the Federal Farm Loan Board established by the Federal Farm Loan Act of 1916, with a revolving fund of half a billion dollars [1] to stabilize prices and to promote the sale of agricultural products. The board would help farmers stabilize prices by buying and ...
Hoover hoped that the Federal Farm Board would become the agricultural equivalent of the Federal Reserve Board, in that it would help control supply and production, especially during emergencies. With its emphasis on cooperation between business and government, the Federal Farm Board also reflected Hoover's general approach to governance. [33]
The 2014 federal farm bill provided the first opportunity for subdivision, within limits, but only after millions of preserved acres had already prohibited that. Many farmers are still crafting ...