Thank you for visiting SNEWPapers!
Sign up free
Middletown Transcript
Middletown, New Castle County, Delaware
What is this article about?
Senator Gronna predicts Senate passage of his resolution to revive the War Finance Corporation, aimed at providing federal aid for exporting surplus agricultural stocks and supporting farmers amid depressed prices, without new appropriations.
Clipping
OCR Quality
Full Text
WASHINGTON, D. C., DEC. 10 (United Press)-Prediction that his resolution reviving the War Finance Corporation will be passed by the Senate was made by Senator Gronna, chairman of the agriculture committee.
The measure is designed to give Federal aid in the exportation of surplus agriculture stocks in this country so as to prevent farmers having to sell their crops below cost of production. The resolution also directs the Federal reserve banks to aid farmers in the present state of depressed prices.
Republican leaders have assured him they did not oppose the resolution, Gronna said Southern and western Senators are expected to support the measure almost in a body because of the demand for the resumption of the corporation from agriculture and related interests. The resolution must be passed by the House, following favorable action by the Senate, and signed by the President before becoming law.
The resolution does not involve appropriations of any funds. The sum of $874,000,000 remains in the treasury from the half a billion dollar appropriation made for the corporation when it was established. This money would be used for the proposed revived activities of the corporation, but proponents declare the moral courage which passage of the measure would give agriculture and the financing banks would make the use of government funds largely unnecessary.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Washington, D. C.
Event Date
Dec. 10
Key Persons
Outcome
prediction of senate passage; no new appropriations needed as $874,000,000 remains available; expected support from southern and western senators; requires house passage and presidential signature to become law.
Event Details
Senator Gronna, chairman of the agriculture committee, predicts his resolution to revive the War Finance Corporation will pass the Senate. The measure provides federal aid for exporting surplus agricultural stocks to prevent farmers selling below production cost and directs Federal Reserve banks to aid farmers with depressed prices. Republican leaders do not oppose it, and it is demanded by agriculture interests.