AGRICULTURAL RELIEF

311

Going on to wheat, for example, 10,000 bushels of wheat going
abroad, upon which there is an export debenture value of 21 cents
per bushel. They issue the cooperative a debenture certificate of
£2,100, which is acceptable at New Orleans or other port for the
payment of import duties.
~ Mr. AsweLr. Upon what—anything

Mr. Taper. Upon anything upon which there is a tariff. Conse-
quently the cooperatives get the Liverpool price for their wheat plus
21 cents; there goes back to the cooperative 21 cents minus the expense
of cashing the debenture.

Mr. KiNcHELOE. Let me interrupt you right there, because you
are getting right down to the meat of this thing I have been thinking
about. That assertion is all right where the deal is by cooperatives.
But suppose I am a wheat grower out in Kentucky and I sell to
another man, who exports it himself?

Mr. Taper. Competition between exporters will give the farmer the
added value.

Mr. KincueLok. I am interested in this fellow who does not belong
to the cooperative organization, not to any farmers’ organization, who
sells to the individual who exports. How are you going to help him ?
[ am merely seeking information.

Mr. Taper. The cooperative can get 21 cents; the exporter can get
21 cents in debentures so the price level of wheat in America steps
up to 21 cents. Why? The cooperative or the exporter can get the
Liverpool price plus one-half the tariff.

Mr. AsweLr. What would that mean if you were talking about the
man who already sold it?

Mr. Taper. If he sold before the operation of the law he might not
participate.

Mr. Kixcueroe. He would not participate; that is the trouble
about it with me. There are a whole lot of these poor fellows who
can not sit around until the 1st of July. They have got to eet some
bread. I want that developed right here.

Mr. Taser. I will develop it right now.

Mr. KincaLeoe. All right.

Mr. Taser. It would be in operation continuously after the 1st of
July, or after the 1st of March, if that was the date stated in the
law.

Mr. Kixcurroe. You are dealing so far in the illustrations you
have given with cooperatives, and I will agree with you if we could
get 100 per cent of the farmers of this Nation to act as a unit they
vould not need Congress or anybody else to assist them.

Mr. Jones. Might I suggest there, if you will permit me to inter-
polate, that in the last bill introduced, and which I see has not come
up, I provide that the board may organize an export corporation as a
sort of “mascot behind the door,” so that if those exporters get the
full benefit or if there is not cooperative organization adequate for
handling it, the board may give power to this export corporation and
let it handle the product, limiting the debenture, if necessary.

Mr. KiNcHELOE. Are you going to give the export corporation
bower to buy all the certificates?

Mr. Jones. Any of these commodities.

R6160—28—SFR E. PT 5H—