858 GENERAL FARM PROGRAM 



The question of reciprocal trade agreements is so closely linked with each 

 branch of business, industry, and agriculture it is impossible to grasp the effect 

 of trade treaties without a thorough study of our entire economy. 



Whatever policy we pursue from now forward must be a policy that is consist- 

 ent with our existing situation and condition. 



Whether we like it or not and whether our course in the past has been correct 

 or not, we cannot ignore the past in determining our future policy without com- 

 pletely wrecking this Nation. 



Through the years that are gone, we have established our monetary and credit 

 system. We have tried to maintain the dollar on a standard much higher than 

 the monetary units of most of the other countries of the world. This Nation has 

 a national debt of around $260,000,000,000. The States, counties, municipalities, 

 and school districts have accumulated additional debts running into many more 

 billion dollars, 



I think everyone would agree that a radical reduction in the present value of 

 the American dollar Avould, in effect, be a repudiation of all debts and would de- 

 stroy the acciunulated savings of a!I kinds that the ])PopIe of this country have 

 made. 



I do not believe that this Congress is ready and willing to repudiate the na- 

 tional debt, neither do I believe that this Congress is ready to destroy the validity 

 or to take away the substance of other outstanding debts, and certainly know 

 that this Congress is not ready or willing to destroy the savings of the people by a 

 further radical reduction in the value of our money. 



I am sure that everyone who has given serious consideration to the subject 

 realizes that free trade for this country is impossible at this time without and un- 

 less we are ready and willing to destroy, or at least radically reduce, the value of 

 our money. 



I am further confident that every one who has studied the cjuestion must realize 

 that reciprocal trade agreements is another name for free trade. The only differ- 

 ence being that reciprocal trade agreements theoretically liinits that trade to 

 specified commodities and to specified countries. 



Under reciprocal trade agreements already in force, a large segment of American 

 producers have already been placed on a free-trade basis to the extent that im- 

 ports are available for shipment into this country. 



The idea that American farmers have been producing surplus food crops is purely 

 fiction invented first by Henry Agard Wallace and preserved through the present 

 administration. 



This fiction of Wallace has been preserved through the administration of 

 Wickard and Anderson and Brannan for the reason that the same departmental 

 bureau heads who held key positions under Wallace continued, in most instances, 

 under "Wickard and now under Brannan. 



Should there be any question in your mind as to the accuracy of this statement, 

 please consider the following: 



Food Shortage Is Result of Trade Treaties, Crop Control, or So-Called 



Price Supports 



During the years from 1931 to 1940 there was a lot of talk about surplus crops. 

 We have never had any svirplus crops in this country. 



We have had underconsumption when millions of people were unemployed and 

 when other millions with jobs were forced to substandard living. 



In the over-all picture, of the United States as a whole, the production of meat 

 is limited by the production of corn. 



It is still true that the production of meat and meat products is very largely 

 controlled by the production of corn. 



It is a general rule among livestock men and hog growers that 1 bu.shel of corn 

 produces 10 pounds of meat on the hoof. How could we have a surplus ot hogs 

 and cattle when we didn't produce the corn to feed them? 



According to the Yearbook of the United States Department of Agriculture 

 from 1910 to 1919 we averaged producing 2,635,000,000 bushels of corn per vear. 

 Urom 1920 to 1929 wo averaged 2, 69.'i, 000,000 bushels of corn per year. From 

 1930 to 1939 we averaged only 2,307,000,000 bushels of corn per year, and during 

 1940 to 1941 we averaged 2,563,000,000 bushels of corn per year. 



You can see from these figures that our annual production of corn during the 

 last 30 years has decreased instead of increased. How could we have a great 

 surplus of corn when we did not produce the corn. 



According to the figures of the United States Department of Agriculture, from 

 1910 to 1919 we averaged a total of 27,678,000,000 pounds of hogs and beef cattle 



