Warehouse Act of 1916 explained

Shorttitle:Warehouse Act of 1916
Othershorttitles:United States Warehouse Act
Nickname:Agricultural Department Appropriations Act of 1916
Enacted By:64th
Effective Date:August 11, 1916
Public Law Url:http://legisworks.org/congress/64/publaw-190.pdf
Cite Public Law:64-190
Cite Statutes At Large: aka 39 Stat. 486
Title Amended:7 U.S.C.: Agriculture
Sections Created: ยง 241 et seq.
Introducedin:House
Introducedby:Asbury Francis Lever (D-SC)
Introduceddate:March 4, 1916
Passedbody1:House
Passeddate1:May 2, 1916
Passedvote1:292-42
Passedbody2:Senate
Passeddate2:July 12, 1916
Passedvote2:31-27
Conferencedate:July 18, 1916
Passedbody3:House
Passeddate3:August 3, 1916
Passedvote3:Agreed
Passedbody4:Senate
Passeddate4:August 3, 1916
Passedvote4:34-25
Signedpresident:Woodrow Wilson
Signeddate:August 11, 1916

The Warehouse Act of 1916 permitted Federal Reserve member banks to give loans to farmers on the security of their staple crops which were kept in Federal storage units as collateral.[1]

Advocacy

United States President Woodrow Wilson proposed the Warehouse Act at a political nomination convention in Sea Girt, New Jersey on September 2, 1916:

Amendments

The table below shows U.S. Congressional amendments to the Warehouse Act.

Date of EnactmentPublic Law NumberU.S. Statute CitationU.S. Legislative BillU.S. Presidential Administration
July 24, 1919P.L. 66-22Woodrow Wilson
February 23, 1923P.L. 67-436Warren G. Harding
March 2, 1931P.L. 71-772Herbert C. Hoover
October 28, 1992P.L. 102-553George H.W. Bush
November 9, 2000P.L. 106-472William J. Clinton

See also

External links

Notes and References

  1. Web site: United States Warehouse Act . Farm Service Agency . United States Department of Agriculture.