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

378 AGRICULTURAL RELIEF Mr. AsweLL. Say 8,000,000 bales. Would you include the weight of the bales in the debenture, if only three bales? Mr. Stewart. That is a new problem. I would be glad to study it. I have not any answer offhand to give you on that. Mr. Aswern. All right. | Mr. Stewart. With respect to the matter Mr. Ketcham has men- tioned, that of preventing over-stimulation of production of deben- turable quantities, I may say that here again is a place where 1t would be difficult to be dogmatic. I am going to give you my personal plat- form on this. I think that there are some commodities with respect to which any fears that you have with respect to 10 cents or 20 cents having any effect on increasing acreage are rather beside the point. Take the case of corn, for example. The acreage 1n corn dur- ing the 5-year period from 1921 to 1926, stood at 100,000,000 or 101,000,000, a year-to-year variation at its widest mark of only 1.4 per cent. Mr. KincreLoe. What is that production; corn? Mr. Stewart. That is the acreage given by the Department of Agriculture on corn; that is not production. The production varied more widely. The thing I am trying to emphasize is that there are some products in our American export agriculture, the acreage of which is pretty firmly fixed—so firmly fixed that a 10 or 20-cent bounty would not be likely to disturb it. That is not so true of wheat. Mr, Kixcueror. Still, corn, don’t you think, had a whole lot to do with that cost of wheat? Mr. Stewart. In the case of corn you have practical stability of acreage. Mr, Kixcugroe. I come from a corn country, and there are hun- dreds of acres of fertile land in that country capable of growing corn in which there has never been a plow stuck for that purpose. Mr. Stewart. Very true. But what I am trying to say is that the variations in price which have been experienced in respect of corn in the past few years have resulted in variations in acreage much smaller than the ordinary eastern imagination pictures. : Mr. Hore. What have those variations been in price during that period ¢ Mr. Stewart. Those figures could be placed in the record from the Department of Agriculture year book. — Hore. I wondered, practically, whether they were great or all. Mr. Stewart. They are there for vou to look at [handing the book to Mr. Hope]. Mr. Hope. There have been considerable fluctuations? hy Soni There have been in price but not in acres. ~ Mr. Hope. Which ought to affect the acreage if it was possible to increase acreage. hou: BINCHELOE. But you have to carry in mind that the price of og le has a whole lot to do with the fluctuation of the price of corn, too. i BRT Very true. In the case of wheat we had between i) 9 a jump in acreage from 59,000,000 to 76,000,000 in one year, not easily traceable to difference in price, because the price dif- erence was not marked: but the acreace difference did divulege——

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