Agricultural relief: Agricultural relief

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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.

288 AGRICULTURAL RELIEF hope to bring about—the stabilization of your market; a more steady market-—that would have no influence on that, would it? Is that your notion about it? Mr. KiLcorE. 1 promised yesterday to reserve an expression of opinion on the debenture plan until I had seen the exact proposal that you had. I would like to keep faith there, if you will allow me. Mr. Kercaam. Will you answer this definite question, whether the equalization fee of itself, without the additional features of the bill— and I may say that I favor those—would the equalization fee in and of itself contribute to the stabilization of prices? Is not the whole aim and proposal of the equalization fee to bring a better price for the product to the men who produces it? If it is not, of course, I do not know what we are here for. Mr. KiLcore. It is to stablize and to get a better price. Mr. Kercaam. Will you just tell me how in the wide, wide world the equalization fee in and of itself applied to the men who produce it, can affect the speculator’s interest? Mr. KiLcorE. I think I made very clear yesterday in the state- ment I made just how the surplus had ruined the price of cotton, and that that would apply to other staple crops, and how by taking the burden of this surplus off of the market would have prevented those ruinous prices. Mr. Apkins. That has been brought out several times here now. Was it not brought out by Mr. Bledsoe, and was it not also brought out by the Burley and Dark Tobacco fellows? The only function the equalization fee performs is a means of making up your losses that are incident to this stabilization idea; that you are bound to have losses, except when buying on a rising world market, and that you would not be doing very many times; and the only function it provides is a means to keep you in funds, to keep you in business, in other words? Mr. KiLgore. That is right. “Mr. Apkins. And it is the operation of your board and the opera- tion of the money invested in that that does your stabilizing, and the function that the equilization fee performs maintaining those losses necessarily incident thereto. Mr. KiLcore. It is guaranteeing sound financing. Mr. Apkins. In other words, when you lost all of the money you would be out of business? Mr. KiLGcorE. Yes, sir. Mr. Apxins. If you did not have some means of going back and assessing it on the commodity? That has been brought out time and time again by these men. . Mr. Hain. And without the equalization fee those losses would ave to be borne by the few fellows who belonged to the cooperative associations. These co-called loans are, after all, charged back to the responsible members of the copoerative socitieies. Of course, ~ Jn not carry that load and would be out of business, and we Would pave sy go back to the Government again to get a new loan. . epend on how much tax money we had in there to deter- nips how many times we could go back and get new loans. | squ oli SonrEr Let me see if you agree with this statement: The lo carry out this plan? e an additional fund to the revolving fund Mr. KirLcorEe. That is right.

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