rivers to the sea. It is also known that 

 untold millions are spent yearly in the 

 removal of soil waste from navigable 

 streams. 



Certainly, we must have the re- 

 sourcefulness and brains in America to 

 correct such an inconsistency, while at 

 the same time correcting the proc- 

 esses of past procedure wherein we 

 have been selling that greatest of na- 

 tional resources, fertility of soil, in the 

 form of farm products at ruinously low 

 levels. 



I hold to the conviction that based 

 upon these general powers and the 

 immediate purposes I have enumer- 

 ated, ways and means will be found to 

 annually retire a certain portion of 

 each farmer's cultivated area and 

 adapt the retired acres to a definite, 

 intelligent soil conservation program. 



Should it be found necessary to 

 enter into contracts with the respec- 



AS THE I. A. A. CONVENTION OPENED 

 Jan. 30 !n ths Armory at Decatur. Despite sub- 

 zero weather nearly 3,000 were on hand. 



tive owners of land, I am advised that 

 any legal obstacle preventing the gov- 

 ernment from entering into such agree- 

 ments could be met through the exer- 

 cise of the rights of the soverign states 

 through appropriate action by their 

 respective General Assemblies. It does 

 not take any stretch of the imagina- 

 tion to understand that selling of soil 

 fertility in the form of farm products 

 at ruinous price levels is neither in 

 the national interest nor a proper pro- 

 tection of natural resources. 



Another feature of the farm prob- 

 lem deserving of more definite atten- 

 tion has to do with both domestic and 

 foreign outlets for farm products. I do 

 not believe that full and proper em- 

 phasis has been placed by the Gov- 

 ernment on the importance of expand- 

 ing these outlets. There appears to be 

 little interest in securing foreign out- 

 lets for farm commodities, unless op- 

 pc;rtunity is afforded to secure prices 

 in line with the domestic market. 



1 cannot agree with such a premise. 

 If experience has taught us anything, 

 we should realize that at times even 



small surpluses become very price de- 

 pressing in the domestic market. Thia 

 being true, the removal of these sur- 

 pluses into foreign outlets, even at a 

 price below the domestic market, 

 should have the effect of improving 

 the average net return received by the 

 producers of such products. It is not 

 my purpose to criticize, but to point 

 out what can and should be done to th« 

 full extent in line with sound eco- 

 nomics and common business sense. 



I believe the powers already vested 

 by Congress for administering com- 

 modity loans for the handling of sea- 

 sonal surpluses of farm products should 

 be expanded. Through simplified regu- 

 lation, but with proper safeguards, a 

 practical application of this type of 

 credit would be very effective in hold- 

 ing commodity prices at stable levels 

 through periods of temporary seasonal 

 surpluses. 



Following soon after the decision of 



the Supreme Court invalidating much 



cf the Agricultural Adjustment Act, 



came the decision from the Court sus- 



( Continued on page 1C( 



i.sJSKB.'^^ 



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