Page:United States Statutes at Large Volume 49 Part 2.djvu/1424

 3438 . Fe~ruary 28. }93n. PROCLAMATIONS, 1935. MAKING EFFECTIVE WITH RESPECT TO THE CROP YEAR 1935-1936 THE PROVISIONS OF THE COTTON CONTROL ACT ApPROVED APRIL 21, 1934 BY THE PRESIDENT OF TH}~ U!'IITED STATES OF AMERICA A PROCLAMATION Cotton ~ontrol :\("1 . WHEREAS section 1 of the Cotton Control Act approved April 21 1934; provIsions of. r('· . ', s~ting crop YPRr. 1934 (48 Stat. 598), provIdes: J Vof,64s. p. 5\18. "That in order to ,relieve th.e present acute economic emergency: in that part of the agncultural mdustry devoted to cotton production and marketing by diminishing the disparity between prices paid to cotton producers and persons engaged in cotton marketing and prices of other commodities and by restoring purchasing power to f:uch pro- ducers and persons so that the restoration of the normal exchange in interstate and foreign commerce of all commodities may be fostered, and to raise revenue to enable the payment of additional benefits to cotton producers under the Agricultural Adjustment Act- It is hereby declared to be the policy of Congress to promote the orderly marketing of cotton in interstate and foreign commerce; to enable producers of such commodity to stabilize their markets against undue and excessive fluctuations, and to preserve advantageous markets for such commodity, and to prevent unfair competition and practices in putting cotton into the channels of interstate and for- eign commerce, and to more effectively balance production and eon- sumption of cotton." WHEREAS section 2 of the aforesaid act :provides: "The provisions of tIlls Act shall be effective only with respect to the crop years 1934-1935, but if the President finds that the economic emergency in cotton production and marketing will continue or is likely to continue to eXIst so that the application of thisActwithrespect to the crop year 1935-1936 is imperative in order to carry out the policy declared m section 1, he shall so proclaim, and this Act shall be effec- tive with resrect to the crop year 1935-1936. If at any time prior to the end 0 the crop year 1935-19361 the President finds that the economio emergency m cotton production and marketing has ceased to exist, he shall so proclaim, and no tax under this Act shall be levied with respect to cotton harvested after the effective date of such procla- mtl.tion." AND WHEREAS I have considered the basic economic data perti- nent to the economic situation relative to cotton production and mar- keting in the United States set forth in a memorandum dated January 7, 1935, furnished by the Secretary of Agriculture, which is on file in the Department of Agriculture, and other pertinent dnta: NOW, THEREFORE, I, FRANKLIN D. ROOSEVELT, President of the United States of America, under and by virtue of the authority vested in me by section 2 of the aforesaid Cotton Control Act, do here- by find and proclaim that the economic emergency in cotton production and marketmg is likely to continue to exist so that the application of said act with respect to the crop year 1935-1936 is imperative in order to carry out the policy declared in section 1 of the aforesaid f.ct; from which finding and proclamation it follows that said act under its terms shall be effective with respect to the crop year 1935-1936 (June 1, 1935, to May 31,1936).