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...voted against: Mellon Tax Reduction Bill (1924), Tax Cut (1926), Private Operation of Muscle Shoals (1926, 1927), RFC (1932), Sales Tax (1932), AAA (1933), NIRA...
First Trouble. Early in 1933, while Herbert Hoover was still in office but while New Deal measures were beginning to be discussed, George Sloan issued a statement opposing such a cotton processing tax as AAA later imposed. He declared : "The extensive price increases necessitated by the tax will decrease the consumption of cotton and cause widespread displacement of workers in the cotton textile industry." By autumn the price of cotton had jumped from 6¢ to 92 ½ç per Ib. and on top of that was a 4.2¢ processing tax. Labor was costing the industry 69% more per hour...
Last week the honor of Middlesex's 105 pig farmers was vindicated. They received checks from AAA for $134,000. That was only the first instalment. They will get $365,000 before the season is over. Eight of them will get over $10,000 apiece. One farmer will get $20,000. AAA is proud of Middlesex cooperation...
...last week's hog prices up to $6.65 a cwt. against $2.80 in June, the Des Moines Register & Tribune's able Farm Editor J. S. Russell estimated that Iowa's hog income would be as great as last year's, excluding $70,000,000 to be paid by the AAA for pigs & corn that were not raised. Forecasts of income from cattle, chickens, eggs and milk were bullish...
...Finally there was a good chance for Iowa farmers to cash in on last year's corn crop. Under seal on Iowa farms are 100,000,000 bu. against which AAA made loans at 45¢ a bu. Farmers may regain title to this corn by paying off the loans. With corn selling currently in Iowa at 65¢, they can realize a 20¢ per bu. profit, or a total...