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:: 1831934515

URN:: urn:nbn:de:zbw-retromon-232102

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 4

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 255 - 297

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

AGRICULTURAL RELIEF 279 January, 1926, after we felt the effect of a surplus crop in our opera- tions. The matter was new to us and to our people. Our farmers did not know about it, and not only ourselves but our Representatives in Congress felt that we should not, without having put the matter before our farmers, place the equalization fee on them; and we asked for two years’ deferment, so that the matter might be discussed. I covered here yesterday the way this matter has been put before our farmers in the last two years, so that they might know about it, and so they do know about it now. We asked for a deferment at that time, for these reasons: We want the equalization fee now because our farmers have had an opportun- ity, as the farmers of the Mid-West had had at that time, to know about this entire proposition. So we came along and put ourselves in the same position, the same category with all of those who are ad- vocating this legislation. There is a difference in the situation then and now as regards the South. Mr. Apkins. You heard Mr. Bledsoe’s testimony here, did you not, before the committee? Mr. KiLcore. Yes. Mr. Apkins. And I think it is pretty generally understood by the members of the committee, at least, that Mr. Bledsoe is about as representative a planter and cooperator as has come before our com- mittee. I think if you will look into the record you will find stated that he had been opposed to the equalization fee until their actual business experience and attempting to carry the surplus had demon- strated to them that without such a fee to make the whole crop carry the cost of marketing the surplus that they could not operate. That was their actual business experience that had converted them from Opposing the fee to supporting it and that had led him to change his mind. Mr. KiLcore. That was so with us; and Mr. Bledsoe and his tes- timony came in here after we did, and you did not have the tobacco associations here until last year—the Burley and Dark Tobacco Asso- ciations, until they had had this experience; and then they came as a result of that experience, advocating this measure. It is not the theory with us, gentlemen; it is an actual experience representing a condition. Mr. Kercaam. Doctor Kilgore, will you take your cotton and take any equalization fee that you think would be a fair equaliza- tion fee and, based upon conditions this last year, just take about five minutes, or whatever time might be necessary, to explain exactly how you would think it would work out with cotton. Mr. KiLcore. It was suggested in the fall of 1926, when it was known that we were going to have about 18,000,000 bale cotton crop, with an indicated surplus of 3,000,000 to 4,000,000 bales, that the 3,000,000 to 4,000,000 bales, or as much Of that as was found neces- sary, should be taken off of the market. Cotton averaged in 1926 practically 12 cents per pound. That would mean $60 per bale, with 500 pounds to the bale. We had 18,000,000 bales of cotton. An equalization fee of $5—I am using round numbers so as to make it easy to follow—per bale would have meant $90,000,000; and $90,000,000 would have bought outright one and a half million bales of cotton at $60 per bale. If it had been desired, 50 per cent of the value of that cotton could have been borrowed from the intermediate

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