Word: aaas
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Last fortnight, after eight months of unsuccessful wrangling with AAA and NRA officials, the flour millers became the first industry to walk out cold on General Johnson. Their departure raised the question: Should the Administration crack down with its biggest club-power to license industries if they want to do business at all. That posed another bigger question. NRA was given two years of life by the Recovery Act but the licensing club was given to the President for only one year, ending June 16, 1934. If the President wants to use the club after that date he must...
Last year the Agricultural Adjustment Administration ladled out $100,000,000 in domestic allotments to cotton growers who destroyed a quarter of their crop. But good growing weather and human avarice thwarted the AAA program with the result that the 1933 cotton crop was even larger than that for 1932. To force crop cuts Senator John Hollis Bankhead and Representative William B. Bankhead persuaded the Administration to endorse their measure to tax surplus production out of existence rather than to try to spirit it off the market with cash. Last month the House passed (251-to-115) the bill...
...principle of taxation which, if adopted, would demoralize the laws of supply and demand and tend to break down the NRA, as well as the AAA, is under consideration by the House Ways and Means Committee and the Senate Finance Committee...
Certainly once the principle were established there would arise all sorts of requests for discrimination in favor of lower priced-articles in competition and the whole revenue structure of the government from these excise taxes would be imperiled, to say nothing of the danger to the AAA if the processing taxes now levied on various products fell down in volume because of the government's own interference with the competitive forces and the laws of supply and demand in business and agriculture. It is inconceivable that Congress will approve a tax device which, under the guise of increasing revenue, really...
Since Secretary Wallace was outside his jurisdiction, Judge Akerman dismissed the fruit growers' injunction proceedings against him. But he did grant them an injunction against the AAA State control committee. In Washington. AAA announced that an appeal would be taken to the U. S. Circuit Court "with the least possible delay...