The President said:
I am glad to sign the third of our reconstruction measures—that providing additional capital to the Federal Land Banks. It should (a) reinforce the credit of the Federal Land Bank system and reassure investors in land bank bonds; (b) thus enable the banks to obtain capital for farmers at reasonable rates; and (c) above all bring relief and hope to many borrowers from the banks who have done their honest best but, because of circumstances beyond their control, have been unable temporarily to make the grade.