McNary-Haugen Farm Relief Bill

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The McNary-Haugen Farm Relief Bill was a proposed law to limit agricultural sales within the United States, and either store them or export them. Despite attempts in 1924, 1926, and 1928 to pass the bill — it was never approved. It was supported by Henry C. Wallace.

According to the bill, a federal agency would be created to support and protect domestic farm prices by attempting to maintain price levels that had existed before the First World War. By purchasing surpluses and selling them overseas, the federal government would take losses that would be paid for through fees against farm producers.

Instability in the agricultural marketplace in the mid-1920's kept the bill afloat along with other schemes for government-implemented price and wage controls in various industries. President Coolidge, with the support of Commerce Secretary Herbert Hoover, successfully vetoed these schemes. To combat them, Coolidge supported the Hoover-Jardine Plan, which encouraged educational services and cooperative marketing in struggling industries.

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