U.S. FARM PRICES BILL

Press, Volume LXXIX, Issue 23914, 5 April 1943, Page 4

U.S. FARM PRICES BILL

MR ROOSEVELT’S VETO tpec. 7 p.m.) WASHINGTON, April Z. Mr Roosevelt has vetoed the Bankhead Farm Prices Bill which increased farm prices by excluding Government benefit payments in calculating parity prices. The bill was introduced in Congress by the farming bloc. Mr Roosevelt said he was compelled to take this action in the deep conviction that the measure was inflationary and broke down barriers erected which must be maintained to avoid inflation disasters. 1 Mr Roosevelt urged Congress to stand by its declared policy to stabilise all prices and wages. He contended that the measure would give farmers an unwarranted bonus at the consumers* expense, and pointed out that the farmers were substantially better off than they were in the last war, but would not remain so if an inflationary tornado was set loose. The Bankhead Bill passed both Chambers by large majorities in spite of an Administration warning that it would increase the nation’s annual food bill by 1,500,000,000 dollars.