Remarks Upon Signing a Bill Extending the Emergency Livestock Credit Act of 1974

Let me thank the Members of the Congress, particularly those from the two committees on agriculture for coming down, along with Secretary of Agriculture Butz, for the signing of the emergency livestock credit act of 1975, which is, of course, an extension of the law that was passed in the first instance in 1974.

The livestock industry for the last several years has been going through a very difficult period. They have a cost-price squeeze; there has been a serious problem in handling credit as a result.

The Congress and the executive branch working together by the original act and by the extension which I am about to sign, I think, will help to build a healthy livestock industry. It will be something that will benefit not only the livestock producers and other related agricultural producers but it will likewise help the consumer, in that we will have an assured supply of good food, which is, of course, essential and necessary for a better America.

So, it is a privilege for me on this occasion to thank the Members of Congress who have worked on this legislation and to participate in the extension of this legislation.