1 4.Ag8/1:98-2 EMERGENCY AGRICULTURAL CREDIT ACT OF 1983 HEARING BEFORE THE SUBCOMMITTEE ON CONSERVATION, CREDIT, OF THE COMMITTEE ON AGRICULTURE NINETY-EIGHTH CONGRESS COMMITTEE ON AGRICULTURE E (KIKA) DE LA GARZA, Texas, Chairman THOMAS S. FOLEY, Washington, Vice Chairman WALTER B. JONES, North Carolina GEORGE E. BROWN, JR., California CHARLES WHITLEY, North Carolina RICHARD J. DURBIN, Illinois LANE EVANS, Illinois ROBERT LINDSAY THOMAS, Georgia JAMES R. OLIN, Virginia TIMOTHY J. PENNY, Minnesota EDWARD R. MADIGAN, Illinois, ARLAN STANGELAND, Minnesota SID MORRISON, Washington GENE CHAPPIE, California CONTENTS H.R. 1190, a bill to provide emergency credit assistance to farmers, and for WITNESSES Cline, Lloyd, vice president, National Cotton Council. Fredrickson, Carl T., Senior Deputy Governor, Farm Credit Administration ..... Kuiken, Jack R., chairman, Agriculture-Rural America Committee, Independ- ent Bankers Association and president, First National Bank, Dekalb, Ill Naylor, Frank W., Jr., Under Secretary, Small Community and Rural Devel- Page 3 12 Andersen, Edward, master, National Grange, letter of March 11, 1983. Block, John R., Secretary, U.S. Department of Agriculture, letter of August 254 Dailey, Douglas, farmer, Madison County Jail, London, Ohio, letter of Febru- ary 14, 1983, to Hon. Chalmers P. Wylie, a Representative in Congress from Daschle, Hon. Tom, a Representative in Congress from the State of South 263 deGot, Stephen P., vice president, Merban Americas Corp., letter of March 1, 207 Frazier, Charles L., National Farmers Organization, prepared statement Hallberg, David E., president/chief executive officer, Renewable Fuels Associ- Jones, Hon. Ed, a Representative in Congress from the State of Tennessee, letter of June 25, 1982, to John R. Block, Secretary, U.S. Department of Myers, Gary D., president, the Fertilizer Institute, letter of March 9, 1983, to John R. Block, Secretary, U.S. Department of Agriculture.... Satterfield, Travis, farmer, Bolivar County, Miss., letter of February 14, 1983.. Senter, David, national director, American Agriculture Movement, Inc., pre- () Page Severens, Eugene, and Marty Strange, Center for Rural Affairs, Walthill, 224 The Decline of Black Farming in America, a report of the U.S. Commission on Civil Rights, February 1982, submitted by Hon. Tom Daschle, a Representative in Congress from the State of South Dakota....... 264 Willer, W. D., Agricultural Bankers Division, American Bankers Association, letter of February 23, 1983. 240 Williams, Lee A., president, Belridge Capital Corp., letter of February 28, 1983 248 Wylie, Hon. Chalmers P., a Representative in Congress from the State of 201 INFORMAL HEARING, KANSAS CITY, Mo., FEBRUARY 18, 1983 Coleman, Hon. E. Thomas, a Representative in Congress from the State of Missouri, opening statement.. 278 Duncan, Marvin R., vice president and economist, Federal Reserve Bank of 321 Foster, John O., Missouri State director, Farmers Home Administration, U.S. 328 Graf, Ed, National Farmers Organization, prepared statement. 332 Miller, Keith, American National Bank of St. Joseph, Mo., statement of............ 315 334 O'Day, John, director, public affairs, Farm Credit Banks of St. Louis, prepared statement.. 338 Reesman, Dale, statement of 291 Ridgeway, Luann, attorney, Gulf & Great Plains Legal Foundation of America, prepared statement 346 EMERGENCY AGRICULTURAL CREDIT ACT OF 1983 MONDAY, FEBRUARY 14, 1983 HOUSE OF REPRESENTATIVES, AND RURAL DEVELOPMENT, Washington, D.C. The subcommittee met, pursuant to call, at 10:07 a.m., in room 1302, Longworth House Office Building, Hon. Berkley Bedell (acting chairman) presiding. Present: Representatives English, Glickman, Stenholm, Tallon, Durbin, Coleman, and Gunderson. Staff present: Robert M. Bor, chief counsel; Robert T. Lowerre, associate counsel; John E. Hogan, minority counsel; Peggy L. Pecore, clerk; Robert A. Cashdollar, David Ebersole, James W. Johnson, Jr., Frank Winston, Steve Kerr, and Bernard Brenner. OPENING STATEMENT OF HON. BERKLEY BEDELL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF IOWA Mr. BEDELL [acting chairman]. The hearing will come to order. Today's hearing is the first meeting of the Subcommittee on Conservation, Credit, and Rural Development in the 98th Congress, and to those of you who braved the bad road conditions this morning, we want to thank you very much, particularly those who are here from the administration. The chairman of the subcommittee, Mr. Jones, is unable to be here today, and I will be chairing this hearing at his request. The purpose of today's hearing is to gather testimony on general agricultural credit conditions and specifically on H.R. 1190, the Emergency Agricultural Credit Act of 1983, which has been introduced by Chairman Ed Jones and ranking minority member Tom Coleman. I would also note that the bill now has 11 other cosponsors, including 7 members of the Agriculture Committee. A copy of a committee news release which summarizes the provisions of H.R. 1190 has been placed at each desk, along with a copy of the bill. During the morning session of this hearing we will hear testimony from USDA Under Secretary Frank Naylor, Farmers Home Administrator Charles Shuman, and Farm Credit Administration Senior Deputy Governor Terry Fredrickson. (1) |