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.
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I am glad to see the adoption by the Senate and House of the principle of generous relief to unemployment.
The time has come when we should cut through the brush and adopt some broad and definite method of reducing the overwhelming burden of armament which now lies upon the toilers of the world.
Executive Order No. 4610, approved March 10, 1927, as amended by Executive Order No. 4833, March 19, 1928, and by Executive Order No. 5001, November 23, 1928, is revoked effective July 1, 1932.
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