(1) Medicinal: Medical marijuana or cannabis edibles and THC hemp oils have been studied internationally by reputable labs and clinics for their healing properties, especially regarding cancer, for decades.
According to GreenMedInfo founder Sayer Ji, “Indeed, the GreenMedInfo.com project has uncovered 129 distinct disease categories that may benefit from this remarkable plant thus far, and new studies are being added on a weekly basis.” 
Classifying marijuana as a drug without medical merit is a lie perpetuated by the Justice Department’s DEA to keep it illegal for their business of arresting and prosecuting peaceful marijuana users.
Then came a Canadian, Rick Simpson, who cured his Nova Scotia neighbors with his own cannabis or hemp oil (http://www.naturalnews.com/027756_cancer_cure_Big_Pharma.html).
(2) Foods: Hemp seeds and oils are an abundant source of perfectly balanced omega-6, omega-3, and omega-9 fatty acids. The high level of essential protein amino acids hemp offers provides a more bio-available complete protein than most all other protein sources, plant or animal. 
(3) Clothing: Cloth from hemp is tougher and allows for better ventilation than even cotton. You can buy hemp clothing today. Legalizing hemp would lower the costs of the imports of hemp fibers.
(4) Plastics: Around 1940, Henry Ford built a “vegetable car” with mostly hemp fibers, not including the drive train of course. The body was so strong two men with sledgehammers and axes couldn’t harm it. 
Properly produced hemp plastics are 100 percent biodegradable and can replace all current petroleum based chemically infested plastics. 
(5) Building materials: Several types of building materials, stronger and lighter than wood and concrete with better insulation properties have actually been used recently for housing. [2 – video] 
(6) Paper: Instead of deforesting for wood to mill paper with harsh chemicals, a process that manifests countless ecological problems, hemp fibers could be used for paper. It had been used for paper before wood pulp processing. And the paper’s quality is considered superior by many.
(7) Agriculture: Hemp is a hardy plant requiring little water and no synthetic fertilizers or herbicides. It’s a perfect rotation crop because it boosts soil health. In a relatively warm temperate climates, it can be planted and harvested twice a year.
Because it’s easy to grow and harvest with less overhead, it’s also a perfect cash crop for struggling small farms. Kentucky senator Rand Paul is pushing for a bill to legalize industrial hemp growth. It’s already happening in Colorado (http://www.naturalnews.com/).
Sources for this article include:
Original decorticator historyhttp://www.electricemperor.com/eecdrom/HTML/EMP/02/ECH02_20.HTM