Word: corne
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Since Mid-1929, farm commodity values have dropped 60%. whereas nonagricultural prices have declined only 32%. The prime purpose of the Roosevelt bill was to pull farm prices up to the same level as other prices. Commodities selected for upping: wheat, cotton, corn, hogs, cattle, sheep, rice, tobacco and milk and its products. Picked as a standard to which agricultural prices were to rise to restore their parity with industry was the average pre-War level of 1909-14. Five bushels of wheat then bought a good pair of shoes which today cost nearer twelve. Secretary...
...Corn...
Domestic Allotment re-emerged by administrative decree rather than by legislative enactment in a provision for the Secretary to pay "benefits" to producers contracting to cut their output. Thus the farmer who whittles down his corn land and raises fewer hogs gets a cash bonus for his reduced hog production rather than rent on his idle corn field...
...means of raising the millions & millions to pay farmers for better obedience to the law of supply & demand. The Secretary of the Treasury was to collect a tax, fixed by the Secretary of Agriculture, on the processing of wheat into flour, cotton into cloth, hogs into ham, corn into meal, milk into butter. This tax, which processors were expected to pass on to consumers, must "equal the difference between the current average farm price for the commodity and [its] fair exchange value"- that is, pre-War parity. Thus the wheat processing tax last month would have been around...
...month ago equally frankly and boldly Corn Exchange Bank Trust Co., Manhattan, gave the public a complete account of its assets, not only a balance sheet but a full list of the bonds and stocks it owned. In the terrific week ending March 4 when the deposits of the New York Clearing House banks fell off 7%, Corn Exchange deposits increased...