Agricultural relief: Export debenture plan

Export debenture plan (Pt. 5)

Bibliographic data

Multivolume work

Identifikator:: 1831932415

Document type:: Multivolume work

Title:: Agricultural relief

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Collection:: Economics Books

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Volume

Identifikator:: 1831934671

URN:: urn:nbn:de:zbw-retromon-232129

Document type:: Volume

Title:: Export debenture plan

Volume count:: Pt. 5

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 299 - 427

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of Albert S. Goss, Master Washington State grange and member Executive Committee, national grange, Seattle, Wash.

Collection:: Economics Books

348 AGRICULTURAL RELIEF Mr. KincaeroE. The debenture would be of less benefit to tobacco than any other commodity. Mr. Goss. It all depends on the rate of debenture you would estab- lish, of course. Mr. KincaeLog. There is this circumstance—I want to develop that a little further—the dark-tobacco districts of west Tennessee, western Kentucky, and southern Indiana export 80 per cent of their tobacco per se. Itisnota question of surplus. They have to depend on foreign markets for 80 per cent of the sale of that tobacco. 1 was just wondering how that was going to help the tobacco grower down there when 80 per cent of it is exported. Mr. Goss. If 80 per cent of tobacco is exported and the producer gets 10 per cent ad valorem in the form of export debentures, if that represents the difference in the cost of production at home and abroad, that helps him by just that much; and the result would be a general rise in the price level of 10 per cent. Mr. Kincreroe. That is the whole thing. That is what they say about the tariff. The tariff ought to be at such a rate that it will equalize the cost of production at home and abroad: but it don’t do it. Mr. Goss. Where we have not an exportable surplus it, does. This is supplemental to the tariff, because the tariff does not work where we have an exportable surplus; and here is the opposite side of the tariff which will work if we have an exportable surplus. That is what we are trying to do—to establish a well-rounded tariff policy which will lie ‘equitably upon all industrv in America. including agriculture. Mr. KincueLor. Let us take an example. Here is a little tobacco tenant, say, in Tennessee. He has got a little patch of tobacco, probably producing 2,000 or 3,000 pounds. There 1s no competition in the sale of tobacco that is sold down there, because the big tobacco trusts monopolize it. It is not a question of supply and demand as to the price this poor little tenant gets. It has been shown several times in my district where they have put the same basket of tobacco on the floor and sold it three times the same day, and it brought a different price every time. The American Tobacco Co. and the Imperial and the Regie and the other people, and all of them have got a monopoly on tobacco. There is not any competition on the floors when you sell it down there, and I was wondering how this debenture of 10 per cent ic going to help that tobacco grower down there when he has to take whatever the trust says and not its market value—how this debenture was going to save him. _— Gross. It would raise the general level of prices on tobacco Mr. Kincueroe. How wo i ise it, in vi the Tobacco Trust buys it vould it ase ih In view of the fact that Mr. Goss. I say the general level. Now, if the growers of tobacco are not equipped to take advantage of that raise bec there 1 trust which governs the local market th i 1 ion which ill Bly, Carn Tooth er, , there is no egislation which that. T which will curb that trust from doing Mr. a Bor pe 2 ok poration with a revolving fund to h r a Government expert av. o handle just such cases. and which

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