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1253036
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9/20/76 - Remarks to National Farm Credit Directors
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1253036
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document
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9/20/76 - Remarks to National Farm Credit Directors
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President's Speeches and Statements Reading Copies (Ford Administration)
Reading Copies of Presidential Speeches and Statements
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1976-09-20
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1976
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1976-09-20
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1976
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The original documents are located in Box 38, "9/20/76 - Remarks to National Farm Credit
Directors" of the President's Speeches and Statements: Reading Copies at the Gerald R.
Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box 38 of President's Speeches and Statements: Reading Copies at the Gerald R. Ford Presidential Library
5+
THE PRESIDENT HAS SEEN
NATIONAL FARM CREDIT DIRECTORS, SEPTEMBER 20, 1976
TALKING POINTS
-1-
IT IS A PLEASURE TO WELCOME TO THE WHITE HOUSE THIS
OUTSTANDING GROUP OF NATIONAL FARM CREDIT DIRECTORS
I UNDERSTAND SECRETARY BUTZ WILL BE SPEAKING TO YOU
A LITTLE LATER TODAY, so I WILL BE BRIEF
FIRST, LET ME CONGRATULATE YOU FOR THE VERY IMPORTANT
WORK YOU DO
AS MAJOR SUPPLIERS OF CREDIT FOR THE
NATION'S FARMERS AND RANCHERS, YOU PLAY A VITAL ROLE
IN THE SUCCESS OF AMERICAN AGRICULTURE.
-2-
THE DROUGHT IN THE UPPER MIDWEST PRESENTS A CHALLENGE
TO ALL FARM ASSISTANCE PROGRAMS, INCLUDING CREDIT
INSTITUTIONS.
SECRETARY BUTZ AND I STAND READY TO HELP
YOU IN MEETING THIS CHALLENGE AND ENSURING THAT THE DAMAGE
WILL BE HELD TO THE MINIMUM
IN THE COMING YEARS, WE CAN ALSO EXPECT INCREASES IN
THE CREDIT NEEDS OF OUR FARMERS AS WE CONTINUE TO PROVIDE
215 MILLION AMERICANS AND MILLIONS MORE ABROAD WITH THE
FOOD AND FIBER THEY NEED
-3-
SECRETARY BUTZ HAS CALLED THE AMERICAN FARMER
"THE MIRACLE MAN OF THE 20th CENTURY," AND I COULDN'T AGREE
MORE
IN 1976, ONE AMERICAN FARMER FEEDS 56 PEOPLE --
16 MORE THAN A DECADE AGO
THAT IS REAL PRODUCTIVITY
AND REAL PROGRESS -- UNMATCHED ANYWHERE ELSE IN THE WORLD
WITH THAT KIND OF PERFORMANCE, WITH ALL THE
HARD WORK THAT FARMING INVOLVES, THE FARMER DESERVES
A FAIR RETURN ON YOUR INVESTMENT OF TIME, MONEY AND
EFFORT
-4-
THE LAST THREE YEARS HAVE BEEN THE THREE HIGHEST
NET FARM INCOME YEARS IN HISTORY
THERE IS ONE
BIG REASON FOR THAT, ASIDE FROM YOUR OWN WORK
WE HAVE GOTTEN THE GOVERNMENT OFF YOUR BACK AND
OUT OF YOUR POCKET, AND THAT'S THE WAY I WILL KEEP IT
WE NO LONGER HAVE HEAVY FARM SURPLUSES
HANGING OVER THE MARKET
THIS ADMINISTRATION
BELIEVES IN SELLING GRAIN, NOT PILING IT UP FOR
STORAGE
-5-
LAST YEAR, WE EXPORTED WELL OVER 21 BILLION DOLLARS
WORTH OF AGRICULTURAL PRODUCTS.
THIS YEAR, WITH A LITTLE
HELP FROM THE WEATHERMAN, IT WILL BE EVEN BETTER
WE HAVE NEGOTIATED LONG-TERM AGREEMENTS WITH MAJOR
FOREIGN COUNTRIES TO ENSURE THAT YOU WILL HAVE A SIZABLE
INTERNATIONAL MARKET FOR YOUR GOODS FOR YEARS TO COME.
I AM ALSO WORKING TO ENSURE THAT FAMILY FARMS CAN STAY
IN THE FAMILY IN FUTURE GENERATIONS.
I HAVE PROPOSED
RAISING THE ESTATE-TAX EXEMPTION FROM 60 THOUSAND DOLLARS
TO 150 THOUSAND DOLLARS
-6-
THERE IS NO REASON AMERICA'S FAMILY FARMS SHOULD HAVE TO
BE SACRIFICED JUST TO PAY THE TAX COLLECTOR
I HAVE ALSO PROPOSED SPREADING OUT THOSE ESTATE TAX
PAYMENTS AT GREATLY REDUCED INTEREST RATES OVER A 25 YEAR
PERIOD, AND EXEMPTING FROM TAXATION THE TRANSFER OF PROPERTY
BETWEEN HUSBAND AND WIFE
THIS IS ONE MORE IMPORTANT EXAMPLE OF MY
ADMINISTRATION'S COMMITMENT TO RELIEVE THE TAX BURDEN ON
MIDDLE-INCOME TAXPAYERS WHO WORK HARD, WHO PAY THEIR FAIR
SHARE OF TAXES, AND WHO DESERVE TO HAVE THEIR TAX BURDEN
EASED WHEREVER POSSIBLE
-7-
TO SUM IT ALL UP, WE ARE PURSUING AND WILL CONTINUE
TO PURSUE A FARM POLICY THAT ASSURES A FAIR MARKET PRICE
FOR THE FARMER, ENCOURAGES FULL PRODUCTION, LEADS TO RECORD
EXPORTS, PROTECTS THE FAMILY FARM, AND EASES THE HUNGER
WITHIN THE HUMAN FAMILY
I APPRECIATE THE WORK WHICH YOU AS NATIONAL FARM
CREDIT DIRECTORS CONTRIBUTE TO THESE SAME GOALS
THANK YOU VERY MUCH
END OF TEXT