Page:United States Statutes at Large Volume 49 Part 1.djvu/797

 752 74TH CONGRESS. SESS. I. CFI. 641 . ATIGUST 24, 1935. "(b) To expand dom estic or foreign markets for any basic ag ricu ltura l com modit y or produ ct th ereof ; "(c) In connection with the production of that part of any basic agricultural commodity which is required for domestic cons umption. "(4 ) Whenever, during a period during which any of the powers conferred in subsection (2) or (3) is being exercised, the Secretary of Agriculture has reason to believe that, with respect to any basic agr icult ural comm odity : Wh en it appears that "(a) The current average farm pri ce for such commodity is not curre nt averag e farm price not less than fair less th an the fair exchange value th ereof, and the average farm exchange value . price f or such commodity is not like ly to be less than the fair exchange value thereof for the period in which the production of su ch c ommod ity d uring the curre nt or next suc ceedi ng ma rketi ng year is normally marketed, or "( b) The conditions of and factors relating to the produc- t ion, mar keti ng, and con sump tion of suc h co mmod ity are s uch that none of the powers conferred in subsections (2) and (3 ), and no co mbin atio n of su ch p ower s, woul d, if exercised, tend to effectuate the declared policy of this title, he shall cause an immediate investigation t o be made to determine such facts . If, upon the basis of such investigation, the Secretary finds the existence of such facts, he shall proclaim such determina- tion, and shall not exercise any of such powers with respect to such commodity afte r the end of the marketing ye ar current at the time when such proclamation is made and prior to a new proclamation under subsection (1) of this section, except insofar as the exercise of such power is necessary to carry out obligations of the Secretary assumed, prior to the date of such proclamation made pursuant to this subsection, in connection with the exercise of any of the powers conferred upon him under subsections (2) or (3) of this section. "(5) In the course of any investigation required to be made under subsection (1) or subsection (4) of this section, the Secretary of Agriculture shall hold one or more hearings, and give due notice and opportunity for interested parties to be heard . "(6) No payment under this title made in an agricultural com- modity acquired by the Secretary in pursuance of this title shall be ma de in a commodity other tha n tha t in re sp ect of which the payment is being made. For the purposes of this subsection, hogs and field corn may be considered as one commodity. Sugar beets or sugar- " (7) In the case of sugar beets or sugarcane, in the event that it cane. Payments when re- shall be established to the satisfaction of the Secretary of Agri- turns to pro duc ers re- duced by payment of culture that returns to rowers or producers, oducers t under the contracts for ~, processing tax or floor the 1933-1934 crop of sugar beets or sugarcane, entered into by and st ocks 48, p. 676. between the pr ocessors and producers and/or growers thereof, were reduced by reason of the payment of the processing tax, and/or the corresponding floor stocks tax, on sugar beets or sugarcane, in addi- tion to the foregoing rental or benefit payments, the Secretary of Agriculture sh all make such payments, repre senting in whole or in production Agreement to required. cur tai l part such tax, as the Secretary deems fair and reasonable, to pro- ducers who agree, or have agreed, to participate in the program for reduction in the acreage or reduction in the production for market, or both, of sugar beets or sugarcane. "(8) In the case of rice, the Secretary of Agriculture, in exercis- ing the power conferred upon him by subsection (2) of this section to provide for rental or benefit payments, is directed to provide in any agreement entered into by him with any rice producer pursuant to such subsection, upon such terms and conditions as the Secretary Investigations . Wh en exercise of p owers woul d not ef- fectuate policy . Proclamation of find- ings . Exe rcis e of powers thereafter . Hearings ; notice . Restriction on ments . pay- Hogs and field corn . Rice . Ag ree men ts wi th pro - ducers to pledge right to rent al or b ene fit payments . Ante, p . 46.