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:: 183193440X

URN:: urn:nbn:de:zbw-retromon-232093

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 3

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 181 - 253

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of hon. J. Kehoe, representing Burley Burley Tobacco growers cooperative association, Maysville, Ky.

Collection:: Economics Books

AGRICULTURAL RELIEF 197 Mr. Kenok. I am fixed in my conclusion that the equalizetion fee will do the work and will not take a cent out of the United States Treasury. You and I are Democrats. We do not want to put any- body’s hands into the United States Treasury, and we never did. And I do not want to disturb any relations in this country that will pull anybody down to a level of the American farmer. I want them all raised up. I do not believe in making things cheap. If in des- peration the farmer finds himself doing that, I am not going to be engaced 1n 1t. I do not want the standard of living in the United States reduced, anywhere. I want the farmer given a chance to come up to it, and given a fair chance in the race of life; that’s all. Mr. FrLsmer. Mr. Kehoe, it is your contention if they should pass the bill they have now before the committee and cut out the equaliza- tion fee, that they would just simply have a loan fund, and that no loan fund will better the situation? Mr. Kenok. No; it will not better the situation. We have plenty of credit. There is no trouble about that. We never had any trouble about credit. The Government has gone out with its credit. But the Government in lending money on American farm land has not equalized or kept the price up. I took a loss of $4,000 less than four months ago upon a farm that the Government had made a loan on upon two-thirds valuation, and I stood by and saw it go for less than the Government loan. I would not make a bid and nobody else would. The Government is going to be the biggest land owner in the United States, and the next fellows you will have down here, clamor- ing for assistance for the farmer, will be the fellows who came when the railroads were in distress. It will be the bondholders of these Federal land bank bonds, and they will be coming representing the great msurance companies and the gréat bankers. The farmer then will have a new friend. But he does not want to wait for that, because his house and property will then be gone. He is ready to meet the issue. He wants this thing settled now. He wants to be given this chance, and if you will give it to him he will work it out; he will foot the bill and he will not be degraded as a patient or pet of the Government. He does not want any favoritism, dole, or subsidy. Mr. AsweLL. 1 am personally interested in all vou said, my only daughter lives in Kentucky and she and her husband own and operate a tobacco farm. So I am personally interested. And when vou talk about the distress of the people back home, all vou say is true. But that is why I want some legislation: that is exactly the reason. I have no defense to make for President Coolidge, in fact [ would like to see him do something that would defeat the Repub- lican Party. But the fact is that he will veto this and we will oo back without anything if we insist on the fee. I tell vou frankly if I were to say this morning that I insisted upon the equilization fee or nothing, I would be arguing against it. I would be saying “Get a veto’; I would not be saving “Get legislation.” That is the way it looks to me, honestly. Mr. Keuor. But if I got the veto, I would not let the veto stand in the way. Congress is not bound by the President’s veto. Mr. ASWELL. Suppose vou did not have two-thirds: what would vou do?

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