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

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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

364 AGRICULTURAL RELIEF the time of our French and Indian War, 1765, the exportable sur- pluses in the case of wheat and other bread grains had come to a place where it could not be foreseen from one year to another, whether there would be any or not. They see-sawed, you might say, for a period of about 25 years. From about 1790 up until the time it was taken off the books, England was definitely upon an import basis. so far as bread grains were concerned, so that import duties came to be regarded as an effective way to bring about protection. Mr. AsweLL. I am not interested in the history of the world. I asked you what other countries had it now. Mr. STEwarr. At the present time you will find in addition to the four countries which I named earlier as having a form of the export debenture type a number of countries, including Australia and Venezuela. I have a memorandum of that, which I would be glad to place before you. (See Appendix.) Mr. Kercaam. You will pardon me, Doctor Stewart. But I think Doctor Aswell was not in the room when you made that statement. Myr. AsweLL. I was here when he named them, but I wondered if there were any other outstanding countries except Germany. Mr. Stewart. I would recommend to your attention the Bureau of Agricultural Economics bibliography, Economics No. 20. entitled “ Bounties on Agricultural Products.” It summarizes the bounty experience, not only in all countries of the world but also to the American Colonies prior to our Constitution. Mr. Fokr. Is that anything more than a bibliography? Does it give the history, or is it simply a bibliography ? Mr. Stewart. It is a bibliography, with excerpts that are helpful. Let us come now to the legal principle underlying the particular kind of export premium which I think might be helpful in this juncture of our agriculture. It is that the sending out of the United States of exportable surpluses may justify this country in allowing Juiiable goods to come back to replace them without collection of uty. Let me state that principle in personal terms. He who sends out of the United States certain farm products of which we have export- able surpluses may be given the right to replace them with dutiable goods brought in without collection of duty. That is the legal principle which seems to me to be definitely embedded in the Ein- fuhrschein of Germany. This arrangement was called to my atten- tion by Mr. E. C. Squire, who had returned from Germany in 1924, 1 believe, after having seen it operate in that country. Mr. PurNerr. That does not mean, Doctor Stewart, that the exporter and importer must be one and the same person? Mr. Stewart. No; I think that is not required in the case of any of the four countries which have applied the tariff-waived replace- ment principle to this problem. Mr. Forr. The debenture, or whatever corresponds to it, may be made negotiable and may be transferred to others? Mr. Stewart. It would merely mean that the second man might take from the first man a credit and continue the operation which the fest man began. The fact that the debenture would be nego- tiable under those circumstances does not modify this legal principle to which I am calline attention.

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