Commodity Credit Corporation

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The Commodity Credit Corporation, or CCC, is an agency of the U.S. Department of Agriculture created on October 17, 1933. President Franklin Delano Roosevelt issued Executive Order 6340 the day before, which ordered the creation of the CCC as a Delaware corporation. The corporation had an original capitalization of $3,000,000, subscribed by the Secretary of Agriculture and the Governor of the Farm Credit Administration.

[edit] History and charter

On July 1, 1939 the Corporation was made a part of the Department of Agriculture. The Secretary of Agriculture was granted the authority to exercise all rights of ownership of the Corporation's stock by Executive Order 8219 of 1939.

The Corporation was authorized, by its Delaware charter, to buy, sell, lend, and carry out other activities regarding agricultural commodities and products. This enabled the corporation to engage in operations for the purpose of influencing production, prices, supplies, and distribution of agricultural commodities. The Corporation is subject to specific limitations placed upon it by Congress.

The CCC was part of the second wave of the New Deal which was initiated by FDR. The second wave of the New Deal took place from 1935-1935 and occurred in order to appease the anti-new dealers and the conservatives.