370 
AGRICULTURAL RELIEF 
Mr. Stewart. We have to recognize the fact that cotton is put into 
a container comprising bagging and bands, which as a rule stay with 
that particular bale of cotton until it reaches the mill, where the 
bands are cut, the bagging removed and the cotton consumed. 
Mr. AswerL. As a matter of fact, Doctor Stewart, I do not think 
there is any likelihood of passing a bill giving a debenture greater 
than the tariff on commodities generally regarded as covered by 
the tariff. o 
Mr. Stewart. Very true. What I am saying 1s perhaps academic, 
but the fact is that cotton is one of the very few commodities which 
are put into identifiable units which retain their identity from the 
time that they are first put together until they reach the mills where 
the bands are cut. It is the only commodity that has been brought 
into the picture in farm relief discussions of which that is true. 
The significance of this can be made clear with respect to the 
experience of an exporter in Memphis. This exporter had taken to 
certain European markets, I believe he said, 10,000 bales of cotton. 
Price conditions shifted so that he wanted to bring that same cot- 
ton back into the United States. He was faced with the necessity 
of paying two-fifths of a cent a pound as fumigation fee, unless he 
could show that this was cotton of United States growth. He took 
the matter up with the Federal Horticultural Board, which ad- 
ministers the fumigation regulations in the case of cotton, and was 
able to make clear by markings on the cotton bales, after it had 
made its missionary trip to Europe, that it was cotton of United 
States growth. You will hardly find another agricultural commodity 
ander consideration here of which that same thing is true. 
Mr. AsweLL. Since there is no tariff on cotton the debenture cer- 
tificate on that product would not affect the tariff in any way. Why 
not make it about 5 cents a pound instead of 2 cents a pound? 
Mr. Stewart. The tariff, you mean? 
Mr. Aswerr. I would make the debenture on cotton 5 cents a pound 
instead of 2 cents a pound. 
Mr. Stewart. That has been suggested. 
Mr. AswerL. Well, why not? 
Mr. Stewart. If I may interject—— 
Mr. Aswerr. Why not do it? 
Mr. Stewart. If I may interject a statement, when Senator McKin- 
ley faced this matter two years ago—- 
Mr. AswernL. Who? 
Mr. Stewart. The late Senator from Illinois. When Senator 
McKinley faced this matter two years ago, he preferred 5 cents to 2 
cents on cotton. - 
The whole matter of rates is another story. What is the rate- 
making principle— . 
Mr. AsweLL. Would you be in favor of 5 cents on cotton? It 
would make your bill stronger. [Laughter.] 
Myr. Stewart. That was what Senator McKinley wanted. 
Mr. AsweLL. Would you be in favor of 5 cents on cotton? 
Mr. Stewart. If I were asked to set up a rate-making system, I 
would have to give it considerable specialized study. I would be 
glad, in case the committee should like to have a memorandum on 
that, to try to work it out. but IT would not want to say offhand here