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 ‘““dead horse’ and got off of it. Here is the point I want to put up to you: You are a practical man here in Congress and you have some idea what public policy is, and what Congress will probably do. -At the beginning of this session—and I put that also in the record—I wrote Dr. Stewart to know if he had any figures about how much money it would stop coming into the Federal Treasury, operating under the debenture plan. He took six or seven commodities, end think he included tobacco, corn, cotton, etc.—but, anyhow, on the theory we would issue debentures for half of the import tariff on all these commodities—only six of them—if he had any figures as to how much money that would stop coming into the Treasury of the United States in a year, based on our exports of those commodities. He sent me figures compiled by some man in California—I do not know who the man was—but I presume he is a reliable authority, and I presume an economist, in which he took these six commodities for ten months in 1926, based on the exports of those commodities at half the present income tariff, and his figures showed that it would stop in ten months $214,000,000 from coming into the Treasury, and the question I wanted to ask you, as a man who is familiar with the operations of Congress and who has more than average information on public policy, as to whether in your opinion there would be any chance of passing any bill here that would take annually out of the Treasury every 10 months, or stop that much from coming in—§214,000,000; if you believed Congress would approve such a proposition as a matter of public policy? Mr. Kenok. No, I do not quite think they would, if it affected the richt of wage of any American citizen, that they would, if they took that view of it; and if the Government needed the money, I do not think they would. But I do not think the debenture propo- sition will ever reach back to the farmer; he is too far from the sea- board. The middleman will be the beneficiary. The farmer can not go to Europe and buy stuff and use this as an offset: he can not do that, gentlemen. Mr. Jones. If this department is authorized under the present machinery to organize a corporation that can handle this. the deben- ture will get the money according to the statement of Mr. Adkins and yourself, both. The only purpose of the eaualization fee is to get the money, is it not? Mr. Kenoke. The purpose of the equalize t: a fund out of which losses may be paid. Mr. Jones. That is the thing that is provid. f. Mr. Kenoe. Nobody gets the money. Mr. Jones. It will provide a fund, will it not: Mr. KenoEe. Yes, sir. Mr. Joxes. The debenture plan will also provide a fund, will it not? The debenture, or certificates, being negotiable and being in demand, will provide a fund, will it not? Mr. Keno. It will not on our product. Mr. Joves. It would on all products in which there is a surplus? Mr. Kenoe. It would not unless those products are exported. Mr. Jones. It would on all exportable commodities? Mr. Keno. On all exported, it would. Mr. Joxes. If we have the same machinery then in this bill it would be effective on all the commodities that it covered, would it not? a

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