Letter to the Speaker of the House Recommending Appropriations for the Federal Farm Board.

[Released June 17, 1929. Dated June 15, 1929]

Sir:

I have the honor to transmit herewith for the consideration of Congress an estimate of appropriation for the Federal Farm Board for $151,500,000, to be immediately available, for commencing operations under the provisions of the Act entitled "The Agricultural Marketing Act," approved June 15, 1929.

This estimate provides $150,000,000 of the $500,000,000 authorized to be appropriated by the Act as a revolving fund for use in making loans or advances, and the amount of $1,500,000 authorized for the administrative expenses of the Federal Farm Board until June 30, 1930.

The details of this estimate, the necessity therefor and the reason for its submission at this time are set forth in the letter of the Acting Director of the Bureau of the Budget which is transmitted herewith and with which I concur.

I should add that the additional amounts. which will be needed by the Board cannot be determined except by the Board itself, but as Congress might shortly recess I have thought it desirable that a preliminary sum should be provided. If the Board finds it necessary to have further funds it should be possible to make provision for them in ample time as Congress will no doubt be in session by the time they are required.

Respectfully,

HERBERT HOOVER

[The Speaker of the House of Representatives]