430 .

AGRICULTURAL RELIEF
I do not know just whether I should go along with that in the
absence of Mr. Fort or not, as he expressed the desire to continue his
questions.

The CrAIRMAN. Are you through with your remarks?

Mr. Kingore. No; I am not, Mr. Chairman. I was just putting
that matter before the committee.

The CuatrMAN. My understanding is that Mr. Fort will be here
in a few minutes.

Mr. KiLcore. Then, I will take up the more general aspects of
the question of stability. Stability, I think I may say, is the national
problem. In industry it has been reasonably achieved, and it is
stability in agriculture that we are seeking to achieve in this
legislation.

Now, since these hearings have been going on I have clipped,
mainly from the Washington papers, two statements regarding the
prevention of waste in oil and the adjustment of production to
consumption, so as to prevent waste and to prevent ruinous prices.

In the matter of rubber, the Secretary of Commerce just a few
days ago appeared before a committee in support of a bill, and I
wish to read just a portion of the statement in the press about this
(reading):
The American consumer of tires has lost millions of dollars annually as a
result of the British rubber monopoly, Secretary Hoover yesterday told the
House Judiciary Committee, in indorsing a bill to permit the formation of
American trade associations to make collective purchases of raw material con-
trolled by foreign nations.

The British Government, it would appear, worked out a rather
effective measure for stabilizing and getting a better price for rubber.

In Cuba the legislature has passed a measure for a restriction of
sugar production and the control of export of sugar to other countries
in such a way that they believe it will bring about a better and a
stabilized price for sugar.

Mr. Kercaam. Right in that connection, Doctor Kilgore, before
you leave sugar. Were you going to remark further about it?

Mr. KiLcore. It was not my purpose to discuss these different
measures as to their merits, to explain them or to criticize or to
commend, but merely to call attention to them from the standpoint
of the efforts that are being made to stabilize industry and these
certain agricultural products that I am referring to.

Mr. Kercuam. The reason I injected that was because of the fact
that Mr. Yoakum made reference yesterday to the attitude of the
sugar-producing countries in the same direction you have just been
mentioning, and I wondered if you had given that any study at all,
and if so, if you could give the committee the benefit of the con-
clusion you had reached upon that whole proposition.

Mr. KiLGore. I would prefer not to go into a discussion of the
merits of it, because I do not understand it sufficiently well; and, as
I stated, I was merely calling attention to these measures to show
the importance that is attached to this subject in general: that is,
stability in all lines.

. In the case of steel, where one half of the production of this country
is manufactured by one corporation and a very large proportion of it
by just a small number of other corporations, through this large con-
trol in manufacturing and handling and through trade associations