[Congressional Record Volume 162, Number 99 (Tuesday, June 21, 2016)]
[Extensions of Remarks]
[Page E970]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         CELEBRATING THE CENTENNIAL ANNIVERSARY OF FARM CREDIT

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                               speech of

                             HON. JIM COSTA

                             of california

                    in the house of representatives

                         Tuesday, June 14, 2016

  Mr. COSTA. Mr. Speaker, I rise today to recognize the 100th 
anniversary of the Farm Credit system in America
  The Firm Credit System in America was established 100 years ago 
through the Federal Farm Loan Act of 1916, signed into law on July 17, 
1916, by President Woodrow Wilson.
  It was founded to provide lending opportunities for American farmers, 
ranchers and dairymen; those who till the soil to put food on American 
dinner tables every night.
  Congess intended the Farm Credit System be designed as a permanent 
means to support the well-being and prosperity of the nation's rural 
communities and agricultural producers of all types and sizes.
  Further, it was designed as a network of cooperatives, independently 
owned and controlled by its borrowers, responsive to their individual 
needs for credit and financial services and continually adapting to 
meet the changing needs of rural communities and agriculture.
  Through the success of the Farm Credit organizations throughout this 
country, such as Fresno-Madera Farm Credit and Yosemite Farm Credit we 
celebrate 100 years of that successful ability to make loans to young 
and old farmers alike, those just starting out or those who have been 
farming for generations.
  And to those who in every region of America do their best to produce 
the healthiest, most nutritious and bountiful crops anywhere grown in 
the world.
  The Farm Credit System today plays a vital role in the success of 
United States agriculture and the economic vibrancy of rural 
communities throughout all 50 States and Puerto Rico, providing more 
than $237 billion in loans to more than 500,000 customers.
  This is so American consumers can enjoy those food products at lowest 
cost value possible.
  Clearly we know the success of American agriculture is in large part 
due to the success Farm Credit across the country.
  We commend the Farm Credit System for their efforts and celebrate 100 
years of making America the most productive agriculture country in the 
world.

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