If the increased price did reflect to the farmer, the plan would stimulate overproduction and thereby increase world supply which would in turn depreciate world prices and consequently decrease the price which the farmer would receive, and thereby defeat the plan.
Letter to Senator Charles L. McNary on the Export Debenture Plan of Farm Relief.
Share
More from Herbert Hoover
That the validity of a passport . . . shall be limited to a period of two years.
Under authority of the act of Congress approved June 4, 1897 (30 Stat. 11, 36; U.S. Code, title 16, sec. 473), and on the recommendation of the Secretary of Agriculture, it is hereby ordered that lands within the Toiyabe National Forest…
I propose that the arms of the world should be reduced by nearly one-third.
Other voices in this conversation
