Word: aaas
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Last week three U. S. Circuit Courts of Appeal, second highest in the land, passed on the constitutionality of three prime New Deal measures, cleared the path to final judgment by the Supreme Court. Two measures went on their way with court curses, one with a blessing. AAA. Taking its cue from the Supreme Court, the first Federal Circuit Court in Boston found AAA's vital processing taxes as illegal as NRA's codes, and for the same reasons. A U. S. District Court had rejected the suit of receivers for Hoosac Mills Corp, to escape payment...
...owns, even though in doing so it may enter into competition with other public or private owners of property." Politics? Last week the Press commented widely on the fact that, though the TVA decision represented the unanimous opinion of one Republican and two Democratic judges, in both the AAA and PWA decisions a lone Democrat dissented from two Republican colleagues. Such finger-pointing caused the judicial New York Times to observe: "It would be foolish to contend that no judge is ever swayed in his judicial work by old party affiliations. Yet it is safe to say that very...
...crop prospects were, with the exception of potatoes, sweet potatoes and rice, spectacularly better than last year's. Barley was due for the second biggest crop in history. The rye harvest, which last year was the poorest in 40 years, will be so big this year that AAA has already made plans for a crop reduction program. Despite floods and a cold, wet spring in the Central States, the corn crop was running 50% better than last year. Whereas on April i the Govern-ment had estimated a winter wheat crop 435,499,000 bu., this figure by last...
...tobacco was selling at 10¢ per lb. An AAA processing tax kited it to 21¢ per lb. That was the price agreed upon as giving tobacco-growers pre-War parity. In expounding the processing tax to Congress, Secretary Wallace had declared that "once pre-War parity is reached, the tax is completely removed." But tobacco is now selling at 27¢ per lb. and AAA is still levying its processing tax. Thus to the Senate Committee on Agriculture & Forestry last fortnight complained S. Clay Williams, board vice chairman of R. J. Reynolds Tobacco Co. (Camels), onetime chairman of NIRB...
...Bill drafted to create a Spindles Board with authority to buy up and decommission £2,000,000 worth of Lancashire cotton spindles in the less efficient mills. These would be paid for by a 15-year levy on spindles remaining in operation?the plan roughly comparing with the AAA processing tax in the U. S. To keep Japan or other competitors from buying up decommissioned British spindles, the Bill would forbid their export...