AGRICULTURAL RELIEF 
a result, under the equalization plan the farmer would be ahead 
$132,000,000 and the Government would be ahead $42,000,000. The 
farmer and the Federal Treasury would be $174,000,000 ahead. 
Mr. CoNNaLLY. I never have understood what the gentleman’s 
question is. I do not understand it. 
The CaairMAN. Turn your attention to the two plans. 
Mr. ConnaLrLy. I know about the two plans. 
The CHAIRMAN. Two hundred million bushels of wheat exported 
would cost the Government $42,000,000—— 
Mr. Con~arry. I shall be glad to answer a question, but every 
time I start to answer the gentleman starts again and I can not do it. 
The Cirairmawn. I am going to show you which plan would give 
the most to the farmer. oo 
Mr. Coxsrry. The gentleman arbitrarily assumes that his bill 
will do things that can not be proven. } 
The CmamrmaN. If you do not want to answer the ‘question, we 
vill take it up later. 
Mr. Connarry. I will answer any questions the gentleman may 
ask. I do not want to be discourteous. 
The Crarmax. I asked this question—it is a simple one: Under 
the debenture plan, if 800,000,000 bushels of wheat are marketed or 
sold and 200,000,000 bushels exported, the cost to the Government 
would be $42,000,000. Assuming that the price would advance 21 
cents a bushel, the producers would receive from the Government 
21 cents a bushel on the 200,000,000 bushels exported—that is $42.- 
000,000; and 21 cents a bushel on the 600,000,000 bushels—that would 
be $126,000,000, a total of $168,000,000. 
Under the equalization plan, if the price is advanced (the tariff 
of 42 cents and 8-cent cost of bringing to our port of entry, or total 
of 50 cents) and 200,000,000 bushels are exported, the equahization fee 
would be 1215 cents, which would leave the farmer 3714 cents net, or 
1614 cents above the 21 cents received under the debenture plan; and 
‘he producers’ net profit would be $300,000,000 or $132.000.000 more 
than under the debenture plan. In other words, under the debenture 
olan, the producers would receive $168,000,000, of which $42,000.000 
would be at the expense of the Federal Treasury; and under the 
equalization-fee plan they would receive a net gain of $300,000,000. 
In other words, the debenture plan not only makes a raid on the 
Treasury to the extent of $42,000,000, but pays the producers $132,- 
000,000 less than under the equalization plan, where the cost is paid 
hy the producers themselves and no burden placed on the Treasury. 
Mr. Conyarry. Is that your question? 
The Cramrman. That is the question. Is that fooling the people? 
Mr. CoxnarLy. Let me say to the gentleman that I do not think 
anybody, unless it be the gentleman from Iowa, believes that the 
McNary-Haugen bill would raise the price of wheat 30 cents a 
bushel. In the past the gentleman voted for a tariff of 42 cents a 
bushel on wheat, and he told the House at the time it passed that 
all we had to do to raise the price of wheat 42 cents a bushel was 
lo pass the bill. Now he comes back in the McNary-Haugen bill 
and says it does not raise the price 42 cents a bushel, and you have to 
devise some other artificial contrivance to do what he said would be 
done by the 42 cents a bushel tariff. He may be just as much in 
OITOT a0a1n. 
331