AGRICULTURAL RELIEF

719

price of 21 cents per bushel on the 128,473,000 bus
526,979,830, bo be distributed over 791,797,381 bushels. ho erat
zation tee oO . , 8 net profit per
profit of $140,145, 304 P per bushel of $0.177, and a total
nder the debenture plan, if in operation for the same peri
assuming that the price of the whole production is avament Se
to the 21 cents debenture, then the producer would have received a
gain in price on the whole production of only $166,277,450, at a cost
to the Government of 21 cents per bushel in debenture, or a total of
$26,979,330 on the quantity exported, or a net gain in the operation
minus the cost to the Government, of only $139,298,120. ’
If the McNary-Haugen bill had been in operation and the whole
crop marketed during the crop year 1924-25, the wheat grower would
have received the Winnipeg price of $1.66, plus the tariff of 42 cents
and transportation charges of 3 cents, or a total of $2.11, instead of
the Minneapolis price of $1.58, a gain of 53 cents per bushel, minus
the equalization fee to cover the lower price of 53 cents per bushel
on the 251,715,000 bushels exported, or $132,514,950, to be distributed
 over 862,627,000 bushels, or an equalization fee of $0.155,
a net profit per bushel of 37.6 cents, and a total profit of $324,347,752.
Under the debenture plan, if in operation for the same period and
assuming that the price of the whole production is advanced equal to
the 21 cents debenture, then the producer would have received a gain
in price on the whole production of only $181,151,670, at a cost to
the Government of 21 cents per bushel in debenture, or a total of
$52,902,150 on the quantity exported, or a net gain in the operation
minus the cost to the Government of only $128,249,520.
The wheat crop for the crop year 1925-26 has been estimated at
832,305,000 bushels and the exports to May 1, 70,000,000 bushels.
The wheat grower would receive, if the McNary-Haugen bill were in
operation, the Winnipeg price of $1.51 plus the {ariff of 42 cents and
the transportation charges of approximately 3 cents, or a total of
$1.96, instead of the Minneapolis price of $1.65, a gain of 31 cents
per bushel, minus the equalization fee to cover the lower price of 31
cents per bushel on the 92,371,000 exported, or $28,635,000, to be
distributed over 832,305,000 bushels, or an equalization fee of 4 cents,
a net profit of $0.276 per bushel, and a total profit of $229,716,180.
Under the debenture plan, if in operation for the same period and
assuming that the price of the whole production is advanced equal to
the 21 cents debenture, then the producers would have received a
gain in price on the whole production of only $174,784,050, at a cost
to the Government of 21 cents per bushel in debenture, or a total of
$19,397,910 on the quantity exported, or a net gain in the operation
minus the cost to the Government of only $155,386,140.
The wheat crop for the crop year 1926-27 has been estimated at
871,691,000 bushels, and the exports at 205,944,000 bushels. Assuming
 that the whole crop had been marketed, the wheat grower would
receive, if the McNary-Haugen bill were in operation, the Winnipeg
price of $1.46 plus the tariff of 42 cents and transporestiod charges 3
approximately 3 cents, or a total of $1.91, instead of the Minneapo 18
price of $1.51, a gain of 40 cents per bushel, minus the equalization
fee to cover the lower price of 40 cents per bushel on the 205,944,000
bushels exported, or $82,377,600, to be distributed over 871,691,000