Marquette Law Review Volume 39 Article 1 Issue 2 Fall 1955 The 1954 oW ol Price Support Program Abraham C. Weinfeld Follow this and additional works at: http://scholarship.law.marquette.edu/mulr Part of the Law Commons Repository Citation Abraham C. Weinfeld, The 1954 Wool Price Support Program, 39 Marq. L. Rev. 87 (1955). Available at: http://scholarship.law.marquette.edu/mulr/vol39/iss2/1 This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact
[email protected]. MARQUETTE LAW REVIEW Vol. 39 FALL, 1955 No. 2 THE 1954 WOOL PRICE SUPPORT PROGRAM* ABRAHAM C. WEINFELD The price of the 1954 clip of wool was supported by a loan program in accordance with the Agricultural Act of 1949,1 which directed the Secretary of Agriculture to make available price support to producers for wool (including mohair) through loans, purchases, or other opera- tions at such level, not in excess of 90 percent nor less than 60 percent of the parity price therefore, as the Secretary determines necessary in order to encourage an annual production of approximately 360 million pounds of shorn wool. Loans were made by the U.S. Department of Agriculture on wool under the 1954 Wool Price Support Program if the application for a loan was filed on or before March 31, 1955. Beginning April 1, 1955, there has been in effect a different type of program, a price support program which includes incentive payments on shorn wool pursuant to the National Wool Act of 1954.2 But it may be of interest to take a look at the structure and functioning of the 1954 program.