Page:United States Statutes at Large Volume 49 Part 1.djvu/796

 74Tx CONGRESS. SESS. I. CH. 641. AUGUST 24, 1935. 751 "(2) To prot ect th e inte rest o f the consu mer by (a) approa ching sumerfnt Protection of con - the level of prices which it is declared to be the policy of Congress to establish in subsection (1) of this section by gradual correction of the current level at as rapid a rate as the Secretary of Agricul- ture deems to be in the public interest and feasible in view of the current consumptive demand in domestic and foreign markets, and (b) authorizing no action under this title which has for its purpose the maintenance of prices to farmers above the level which it is declared to be the policy of Congress to establish in subsection (1) of this section ." SEC. 2. Section 8 of the Agricultural Adjustment Act, as amended, Vol.48,p.34; U. S. is amen ded by striking out everything preceding subsection (2) and C commoditybenefits. inserting in lieu thereof the following "( 1) Whenever the Secretary of Agri culture has reason to believe Investigations by Secretary of Agricul- that : tore . "(a) The current average farm price for any basic agricultural commodity is less than the fair exchange value thereof, or the average farm price of such commodity is likely to be less than the fair exchange value thereof for the period in which the production of such commodity during the current or next succeeding marketing year is normally marketed, and "(b ) The conditions of and factors relating to the production, marketing, and consumption of such commodity are such that the exercise of any one or more of the powers conferr ed upon the Secretary under subsections (2) and (3) of this section would tend to effectuate the declared policy of this title, he shall cause an immediate investigation to be made to determine such facts . If, upon the basis of such investigation, the Secretary ia Proclamation of find - finds the existe nce o f such fact s, he shall proc laim s uch d etermi natio n and shall exercise such one or more of the powers conferred upon him Exerci se of c onferre d under subsections (2) and (3) of this section as he finds, upon the pow ers . basis of an investigation, administratively practicable and best calcul ated to eff ectua te the decl ared p olicy of th is ti tle . "(2) Subject to the provisions of subsectio n (1) of this section, t he Ag ree me nts w ith Secretary of Agriculture shall provide, through agreements with producer` . producers or by other voluntary methods, "(a) For such adjustment in the acreage or in the production for Adjustments in acre- market, or both, of any basic agricultural commodity, as he finds, ageor prod ucti on . upon the basis of the investigation made pursuant to subsection (1) of this section, will tend to effectuate the declared policy of this title, and to make such adjustment program practicable to operate and ad minist er, an d "(b ) For rental or benefit payments in connection with such Renta l or benefit agreements or methods in such amounts as he finds, upon the basis payments ; amounts. of such investigation j to be fair and reasonable and best calculated to effectuate the declared policy of this title and to make such pro- gram practicable to operate and administer, to be paid out of any moneys available for such payments or, subject to the consent of the producer, to be made in quantities of one or more basic agri- cultural commodities acquired by the Secretary pursuant to this title. "(3) Subject t o the provisions of sub section (1) of this secti on, the Additional p ay_ Secretary of Agriculture shall make payments, out of any moeys ments . available for such payments, i n such amounts as he finds, up on the basis of the investigati on made pursuant to subsection (1) of this section, to be fair and reasonable and best calculated to effectuat e the declared policy of this title "(a) To remove from the normal channels of trade and commerce quantities of any basic agricultural commodity or product thereof ;