Agricultural relief: Agricultural relief

Bibliographic data

Multivolume work

Identifikator:: 1831932415

Document type:: Multivolume work

Title:: Agricultural relief

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Collection:: Economics Books

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Volume

Identifikator:: 1831934280

URN:: urn:nbn:de:zbw-retromon-232071

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 2

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 70 - 179

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of Matt Grennan, Rock Falls, Ill.

Collection:: Economics Books

AGRICULTURAL RELIEF year. If you can not get the farmers to do that kind of thing we are not very much good. Mr. PurNELL. In other words, you want each farmer to control his own surplus? Mr. Eh: Why, absolutely; right on his own farm. If it is wheat and he puts it in the warehouse, just don’t pay him for that part of it. At the end of the year don’t pay the man for the part you could not sell. If it is cotton, do the same thing. Mr. KiNcHELOE. Suppose the world buys corn at 60 cents a bushel and you stabilize it at $1, who is going to pay that 40 cents a bushel difference? Mr. GrRENNAN. The price is right near home. The only thing in the world that could stop you would be that your tariff would be too low and would let that Argentine corn in here. Mr. KincaeLoE. Where do you start—you say a dollar a bushel to stabilize it? Mr. GrRENNAN. I just used that as an example. Mr. KINCHELOE. Do you mean that is going to be the world’s price on corn? Mr. GRENNAN. Yes, sir. Mr. KiNcHELOE. Suppose the wolrd’s price is not more than 50 cents? Mr. GRENNAN. How much of this crop did you export? Mr. KincueELOE. Five per cent. Mr. GrRENNAN. Just take that off, and don’t export it. Mr. KincarELOE. I don’t nean to export 5 per cent. I mean 5 per cent on each farmer. How would you work that out? Mr. GRENNAN. The same. Mr. KincHELOE. We are exporting anywhere from 250,000,000 to 300,000,000 bushels of wheat each year. Mr. GreNNAN. Don’t let that dictate the price. Mr. KincueLoE. The unfortunate thing is that the price of wheat is set in the world’s market to-day. Mr. GRENNAN. Then we must set the price of wheat in our own market, where we consume it. pil. Rieoymrae But what about the importation of wheat into is country? : Mr. GRENNAN. If you have a tariff, that is the only thing you have o stop it. Mr. KincaELoE. We have a tariff of about 42 cents a bushel on wheat now, but I don’t see the wheat farmers getting rich under it. Mr. GRENNAN. We are talking about this price and you are talking about the other price. Canada is doing exactly the same. They are getting the market facilities in their own country to stabilize price. The whole talk here is that the difference between the pro- ducer and the consumer is too great. The consumer is paying here more than what we would stabilize this price at. Mr. KincHELOE. There is no doubt about that. Mr. GreNNAN. If we are going to cure that ill we have to get the marketing facilities between these two. Over in Illinois they just iad for years and years and years to get the board of trade out from piwen the producer and the consumer. They have tried every. ng possible to try, and the only way you can do that is to set a certain per cent of this aside each month.

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