of administration, to bring about in the agricultural districts a larger membership of such banks or trust companies in the Federal Reserve system. (c) The committee is authorized to sit at any time during the sessions or recesses of the Congress, to conduct its hearings at Washington or at any other place in the United States, to send for persons, books and papers, to take testimony, to administer oaths, and to employ experts deemed necessary by such committee, a clerk, and a stenographer to report such hearings as may be had in connection with any subject which may be before said committee, such stenographer's services to be rendered at a cost not exceeding $1.25 per printed page. The expenses of such committee shall be paid out of the contingent funds of the Senate and House of Representatives in proportion to the membership of such committee from each House. (d) The committee shall from time to time report to both the Senate and the House of Representatives the results of its inquiries, together with its recommendations, and may prepare and submit bills or resolutions embodying such recommendations, and the final report of said committee shall be submitted not later than January 31, 1924. Separability Provision SEC. 507. That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment is rendered. Definitions SEC. 508. That when used in this Act, the term "Federal Farm Loan Act" means the Federal Farm Loan Act approved July 17, 1916, as amended, and the term "Federal Reserve Act" means the Federal Reserve Act approved December 23, 1913, as amended. Short Title SEC. 509. That this Act may be cited as the "Agricultural Credits Act of 1923." And the Senate agree to the same. That the Senate recede from its disagreement to the amendment of the House to the title of the bill, and agree to the same. Approved, March 4, 1923. Agriculture, INDEX changing conditions in, 5-14 on Co-operative Marketing Asso- aided by Federal Reserve loans to, 155-6 need for production credits, Co-operative Marketing Move- aided by Agricultural Credit Country Banks, relation to agricultural credit granting of intermediate cred- rediscounting practices, 262-4 Debentures, issued by National Credit issued by Intermediate Credit security behind, 236-40 "Deflation of Farmers," 67-75 Depression in Stock Raising In- Depression in Agriculture, 1920- Emergency Credit Agencies in Farm Workers, numbers of, 7 agricultural provisions of, 24-8 relation to Intermediate Cred- Financing of Cattle and Sheep aided by Intermediate Credit Financing of Co-operative As- aided by Intermediate Credit Hughes, L. A., quoted, 184-5 Implements on farms, Federal Reserve loans upon, Indebtedness of Farmers, 1915- |