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mar 12, 1933 - The First Farm Bill, Agriculture Adjustment Act (AAA)

Description:

President Franklin D. Roosevelt signed this bill into law on only his 8th day in the presidential office. The bill was part of the New Deal era, which was designed to boost agricultural prices by reducing the surpluses that was on the markets.

The AAA would pay farmers not to grow crops that were not common foods in people's diets, such as cotton, tobacco, wheat, and corn. Farmers were also paid not to raise specific livestock like sheep, cattle, and hogs.

Part of the AAA's policy to reduce surpluses in the agricultural market was to pay farmers to destroy their crops and slaughter their livestock for monetary compensation. The bill was also implemented after farmers had started raising the season's livestock and that year's crops.

The AAA efforts paid out $100 million to destroy 25% of the nations cotton crop and 2 million head of cattle were slaughtered in the state of Texas alone.

Added to timeline:

9 Dec 2019
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Date:

mar 12, 1933
Now
~ 91 years ago

Images: