Agricultural marketing revolving fund

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Monograph

Identifikator:: 1830514946

URN:: urn:nbn:de:zbw-retromon-221271

Document type:: Monograph

Title:: Agricultural marketing revolving fund

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1930

Scope:: II, 39 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

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Title:: Tuesday, december 16, 1930. Cotten marketing conditions. Statements of Walter Parker, new orleans, la.; Thomas Hogan, norfolk, va.; and D. H. Williams, gastonia, n. c.; representing the american cotton shippers' association, of memphis, tenn

Collection:: Economics Books

AGRICULTURAL MARKETING REVOLVING FUND 37 the minute you sell short you are a buyer, because in order for you to get a profit you must come back in the market. But, in any event, 1 maintain that the present situation which has developed is due to these causes largely. I am not attacking the Farm Board in any way. I thinkitisa body of honorable men, but they are not cotton men. Now, under the law, or under the agricultural marketing act, Congress ignored 85 per cent of the men who marketed the commodity. As for the spread, I do not think any farmer can claim that he has paid anything like the pro- portion that is paid for selling a desk, a suit of clothes, a necktie, or anything like that, passing into the retail tride. At any rate, however, we cotton men were ostracized in this case. We were looked upon as being beyond the pale, and not fit to have anything to do with the agricultural marketing act. The Farm Board was created, and they operated, not through the independent trade, but only through the cooperative marketing associations, which were at that time going downhill. As a matter of fact, thev had to be rehabilitated before they could be used. Mr. Byrns. Assuming that the law is retained on the statute Looks, and, in response to what you say with refernce to the law fixing the cooperative associations as the only organizations through which the Farm Board can function, what agencies would you pro- vide in addition to those cooperatives? Mr. Hoax. I would have given the Federal Farm Board discre- tion in the matter. I would have given them the discretion of using that money, $500,000,000, through any legitimate agencies that were engaged in marketing. I would have made it discretionary. Mr. Byrns. You would have left that to the discretion of the trederal Farm Board. Mr. Hocan. I would not have done it at all, if I had had any- thing to say about it, because I do not believe that you can stabilize the market in that way. However, at any rate, it was worth a try, and we said, “ Let it be tried.” We could not go to Congress and oppose it, because people would immediately say that we were trying to keep the cooperatives from getting the business. We were per- fectly willing for the experiment to be tried. We did not want to oppose it when it was put down the throat of the legislature. I think we made a mistake at that time. I think that we should have come as patriotic citizens and asked Congress not to do this thing. At any rate, things went on to such a state, I will say, aside from any selfish motives, where we were practically put out of business, and I say to you now that the farm- ers of this country and the mills of this country are in such a fix that it will take 10 years for them to get back on their feet again. Therefore, we are asking that before the rest of this money is spent ‘hat you may see fit to ask the Farm Board to call on some cotton people and some cotton spinners, because the cotton spinners are as vitally affected by this as the farmers, and see what can be done. If the spinners go broke, and it looks like that now, God help the farmer. So we feel that in asking for an investigation we are asking something for the farmer. We are asking that this great independ- ont-marketing machinery be used to help the farmer. If that is Tone. it will be the best thing that can be done at the present time

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