The Federal Farm Board was established by the
Agricultural Marketing Act of 1929
The Agricultural Marketing Act of 1929, under the administration of Herbert Hoover, established the Federal Farm Board from the Federal Farm Loan Board established by the Federal Farm Loan Act of 1916 with a revolving fund of half a billion dolla ...
from the Federal Farm Loan Board established by the
Federal Farm Loan Act
The Federal Farm Loan Act of 1916 () was a United States federal law aimed at increasing credit to rural family farmers. It did so by creating a federal farm loan board, twelve regional farm loan banks and tens of farm loan associations. The act ...
of 1916, with a revolving fund of half a billion dollars
Chapter 4: Crisis and Activism: 1929-1940
United States Government Printing Office
The United States Government Publishing Office (USGPO or GPO; formerly the United States Government Printing Office) is an agency of the legislative branch of the United States Federal government. The office produces and distributes information ...
to stabilize prices and to promote the sale of agricultural products. The board would help farmers stabilize prices by buying and holding surplus grain and cotton in storage. The Farm Board was part of Herbert Hoover
Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American politician who served as the 31st president of the United States from 1929 to 1933 and a member of the Republican Party, holding office during the onset of the Gr ...
's response to the downward spiral of crop prices in the years leading up to the Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
.
Executive Order 6084 of the 26th of March, 1933, effective the 27th of May, 1933, changed its name to the Farm Credit Administration
The Farm Credit Administration is an independent agency of the federal government of the United States. Its function is to regulate the financial institutions that provide credit to farmers.
Authority
The Farm Credit Administration is an indep ...
, abolished the functions vested in Federal Farm Board by section 9 of Agricultural Marketing Act, abolished the functions of Secretary of Agriculture
The United States secretary of agriculture is the head of the United States Department of Agriculture. The position carries similar responsibilities to those of agriculture ministers in other governments.
The department includes several organi ...
and Secretary of Treasury
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...
as members of Board, and abolished the offices of appointed members of Federal Farm Board, except that of Chairman, which title was changed to Governor of Farm Credit Administration.
References
Great Depression in the United States
Government agencies established in 1929
1933 disestablishments in the United States
Defunct independent agencies of the United States government
1929 establishments in the United States
Agricultural marketing organizations
Agricultural marketing in the United States
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