On the contrary I am convinced that it would bring disaster to the American farmer.

I regret deeply that I cannot agree that this provision would bring the results expected.

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…

The plan would require a substantial increase in taxes as no such expenditure or depletion of revenues as this plan implies could be paid from marginal income of the government more particularly in view of the very large increased…

The first result of the plan, if put into operation, would be a gigantic gift from the government and the public to the dealers and manufacturers and speculators in these commodities.

It is unnecessary for me to argue the fact that the very essence of freedom is obedience to law; that liberty itself has but one foundation, and that is in the law.

That is the enforcement and obedience to the laws of the United States, both Federal and State.

A further serious question arises again (if the plan did have the effect intended) where the foreign producer of animals would be enabled to purchase feed for less than the American farmer producing the same animals.

It is not proposed to pay the debentures of subsidies to the farmers, but to the export merchants, and it seems certain that a large part of it would not be reflected back to the farmer.

Respect for law and obedience to law does not distinguish between Federal and State laws--it is a common conscience.

Altogether, from the above reasons, it is my belief that the theoretical benefits would not be reflected to the American farmer; that it would create profiteering; that it contains elements which would bring American agriculture to…

No great step in public action can ever succeed without some compromise of view and some sacrifice of opinion.