The McNary-Haugen bill: failed to pass Congress in 1922 but passed in 1927 with the support of President Coolidge. resulted in significant technological developments. effectively raised domestic commodity prices. called for crops to be sold on the world market to raise domestic prices. was viewed with derision by American farmers.

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History

Ansley Vincent

9 August, 07:29

The McNary-Haugen bill: failed to pass Congress in 1922 but passed in 1927 with the support of President Coolidge. resulted in significant technological developments. effectively raised domestic commodity prices. called for crops to be sold on the world market to raise domestic prices. was viewed with derision by American farmers.

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Hayden Houston · Answer 1

called for crops to be sold on the world market to raise domestic prices.

Explanation:

The McNary-Haugen Farm Relief Act was a bill of Congress repeatedly proposed during the 1920s. World War I had a positive effect on farming in the US, with a very high demand for US agricultural products as European countries were busy with the war effort. However, with the end of the war and the rebound of European agriculture, farmers in the US were facing a crisis of overproduction and overcapacity as demand diminished and prices dropped. The McNary-Haugen bill aimed to keep the prices artificially high by having the government buy crops, store them, and sell them on the world market at a loss. This plan meant that domestic prices on food would rise, which led to president Calvin Coolidge to veto the bill numerous times, and it never became law.