AGRICULTURAL RELIEF
Corn

683

Production_._

Exports, 1924

Exports, 1925

Exports, 1926____________________
Exports. July to November 1927

2

Bushels
N00, 000, 000
23, 000, 000
5, 000, 000
J, 819, 000
3.179. 000
Prices of corn

[Chicago prices by Department of Labor, and Buenos Aires prices by Department of Agriculture]

Yaenr

Chicago
price

Buenos
Aires
rice

Txpor
LE.

Ny Tew

Ocean
freight

Total

FE quali
zation
fee

Net
profit per
bushel

Total
profit

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1926_ __ o_o
927

972
38
9
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il. 1014
2114
941g,
ai

0.001, 30.129
. 0003 1742
.0017 . 1818
[OQ] (2)

$387, 000, 000
522, 627, 500
430, 861, 000

(3)

1
3

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1 January-November, 1927
3 Not vet available
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If the bill had been in force in 1924 the corn grower would have received the
Argentine price of 83 cents, plus the tariff of 15 cents, plus the export tax, which
was 1.54 cents in February, 1926, 1.03 cents in March, and 0.46 cent in April,
or say 1 cent, and the ocean freight to Baltimore or New York, say 1114 cents,
the rate March last, or a total of $1.1014, instead of the Chicago price of 97.2
eents, a gain of approximately 13 cents per bushel, minus the equalization fee
to cover the discount of 13 cents on 23,000,000 bushels to be distributed over a
total production of 3,000,000,000, assuming that the total production had been
marketed. If so, an equalization fee of $0.001 per bushel, a net gain of $0.129
per bushel, or a total profit of $387,000,000.

If the bill had been in force in 1925 the corn grower would have received the
Argentine price of 94 cents, plus the tariff of 15 cents, plus the export tax of 1
eent, and the oecan freight of 1114 cents, or a total of $1.2114, instead of the
Chicago price of $1.038 (see ratio table furnished by Department of Labor),
a gain of 17.45 cents per bushel, minus the equalization fee of 17.45 cents on
5,000,000 bushels to be distributed over a total production of 3,000,000,000,
assuming that the total production had been marketed, or an equalization fee
of $0.0003 per bushel, a net gain of $0.1742, a total profit of $522,627,500.

If the bill had been in force in 1926 the corn grower would have received the
Buenos Aires price of 67 cents, plus the tariff of 15 cents, plus the export tax of
1 cent, and the ocean freight of 1114 cents, or a total of $0.9414, instead of the
average Chicago price of 75.9 cents, a gain of 18.35 cents per bushel, minus the
equalization fee to cover the discount of 18.35 cents on 24,783,000 bushels, to be
distributed over a total production of 2,645,000,000 bushels, assuming that the
total production had been marketed, or an equalization fee of $0.0017 per
bushel, a net gain of $0.1818, or a total profit of $480,861,000. i

Inasmuch as the exports of corn for the year 1927 are not yet available, the
full data as to the equalization fee and total profit can not be worked out at the
present time.
Beef slaughtered

—-

26

32

Production
Zxports_. _.
‘mports._..
Nel exports. .

35%, 000, 00
38, 000, 000
41, 000, 000

146, 000, OW
39, 000, 000
7, 000, 000

-065, 000, 000
10, 000, 000
21, 000, 000
19. 000. 000

13

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