Page:United States Statutes at Large Volume 50 Part 1.djvu/272

 75TH CONGRE SS, 1ST SESS ION-CH. 296-JUNE 3, 1937 support the national credit structure and that these conditions affect transactions in agricultural commodities with a national public interest, and burden and obstruct the normal channels of interstate commerce ." (b) Section 2 (1) is amended by striking out "balance between the production and consumption of agricultural commodities, and such marketing conditions therefor, as will reestablish" and inserting in lieu ther eof the follo wing : "orderly marketing conditions for agricultural commodities in interstate commerce as will establish" . (c) Section Sa (6) is amended by striking out ", the provisions of this section, or of" . (d) Section Sc (5) (B) (d) is ame nded by str iking out "production" and inserting in lieu thereof "marketings" . (e) Section Sc (6) (B) is amended by striking out "produced or" ; and by striking out "production or sales of" and inserting in lieu thereof "quantities available for sale by" . (f) Section 8c is amended by adding at the following "MILK PRICES "(18) The Secretary of Agriculture, prior to prescribing any term in any marketing agreement or order, or amendment thereto, relating to milk or its products, if such term is to fix minimum prices to be paid to producers or associations of producers, or prior to modifying the price fixed in any such term, shall ascertain, in accordance with section 2 and section 8e, the prices that will give such commodities a purchasing power equivalent to their purchasing power during the base period . The level of prices which it is declared to be the policy of Congress to establish in section 2 and section 8e shall, for the purpose s of such agr eement, order, or amendment, be such leve l as will reflect the price of feeds, the available supplies of feeds, and other economic conditions which affect market supply and demand, for milk or its products in the marketing area to which the co ntempl ated m arketi ng ag reemen t, ord er, o r amen dment relate s. Whenever the Secretary finds, upon the basis of the evidence adduced at the hearing required by section Sb or Sc, as the case may be, that the prices that will give such commodities a purchasing power equivalent to their purchasing power during the base period as determined pursuant to section 2 and section Se are not reasonable in view of the price of feeds, the available supplies of feeds, and other economic conditions which affect market supply and demand for m ilk and its p roducts in the marketing ar ea to which t he con- templated agreement, order, or amendment relates, he shall fix such prices as he finds will reflect such factors, insure a sufficient quan- tity of pure and wholesome milk, and be in the public interest. Thereafter, as the Secretary finds necessary on account of changed circumstances, he. shall, after due notice and opportunity for hearing, make adjustments in such prices. " PRODUCER REFERENDUM 247 Establishing, etc ., orderly marketing conditions . District Courts ; jurisdiction . 48 Stat. 675; 49 Stat. 762 . Milk price adjust- ments . 49 Stat. 755. Allotments . 49 Stat. 756. end thereof the Section added . 49 Stat. 761 . Milk prices. 48 Stat . 32; 49 Stat. 750, 762. 49 Stat. 752, 753. Adjustments. "(19) For the purpose of ascertaining whether the issuance of an Producer re fer en. order is approved or favored by producers, as required under the applicable provisions of this title, the Secretary may conduct a refer .. endum among producers. The requirements of approval or favor under any such provision shall be held to be complied with if, of the total number of producers, or the total volume of production, as the case may be, represented in such referendum, the percentage approv- ing or favoring is equal to or in excess of the percentage required dum.