Agricultural relief: Export debenture plan

Export debenture plan (Pt. 5)

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:: 1831934671

URN:: urn:nbn:de:zbw-retromon-232129

Document type:: Volume

Title:: Export debenture plan

Volume count:: Pt. 5

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 299 - 427

Digitisation:: 2022

Collection:: Economics Books

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AGRICULTURAL RELIEF 201 (5) Wheat, 21 cents per bushel of sixty pounds; wheat flour, semolina, crushed or cracked wheat, and similar wheat products not specially provided for, 52 cents per one hundred pounds. (6) Cotton and cotton waste, 2 cents per pound. (7) Tobacco, 10 per centum ad valorem. (b) If the President finds, from the report of the board hereinafter provided for, or from any other source, (1) that the cost of producing in the United States any agricultural commodity which is not designated in section 5 and of which a surplus above domestic requirements is produced in this country and in respect of which a tariff duty is imposed by the tariff act of 1922, as amended, or any law supplementary to, or in substitution for, such act, is greater than the cost of producing such commodity in competing foreign countries, and (2) that the domestic prices for such commodity is unduly depressed by world prices for such commodity, he may, by proclamation, designate such commodity as a debenturable commodity and may prescribe such export debenture rate for the commodity as he finds sufficient to equalize the difference between the cost of producing such commodity in the United States and the cost of producing such commodity in competing foreign countries. Nuch export debenture rate shall not exceed the rate of tariff duty applicable in respect of such commodity. It shall be the duty of the board to make investigations, under regulations pre- scribed by it, to assist the President in determining the need for designating ander this subdivision any agricultural commodity as a debenturable agricul- tural commodity and in determining the amount of the export debenture rate for the commodity. No proclamation under this subdivision shall be issued by the board until such an investigation has been made and a report thereof has seen submitted by the board to the President. {c) The President, upon recommendation of the board, may prescribe a lebenture rate for any manufactured product which is made wholly or in part of a debenturable agricultural commodity, and for which no debenture rate is prescribed in subdivision (a) of this section. Such rate shall bear the sane ratio to the debenture rate for the debenturable agricultural commodity from which the product is made, as the tctal quantity of the debenturable agricul- tural commodity contained in such product bears to the total quantity of materials contained in such product, as ascertained and determined by the President. FLEXIBLE RATE PROVISIONS SEC. 7. (a) Whenever, under section 315 of the tariff act of 1922, any change in the rate of tariff duty upon any debenturable agricultural commodity or iebenturable product of such commodity is made, and the President finds, from the report of the board hereinafter provided for or from any other source, that in other effectively to carry out the policy declared in section 1, an increase or decrease in the existing export debenture rate for such com- modity or product is necessitated by the change in the tariff rate or by the conditions which are responsible for such change in the tariff rate, he shall by proclamation prescribe such increase or decrease in the existing export debenture rate as he finds to he necessary. Such increase or decrease shall become effective upon the date fixed in such proclamation which shall not be less than sixty days from the date of the issuance of the proclamation. {b) In order to regulate the foreign commerce of the United States and to "arry out the policy declared in seciton 1, whenever the President, upon investi- zation of the difference between the cost of producing any debenturable agri- cultural commodity or any debenturable product of such commodity in the United States and the cost of producing such commodity or product in com- peting foreign countries, finds, from the report of the board hereinafter provided for or from any other source, that the existing export debenture rate for such commodity or product does not equalize such difference, he shall, by such in- vestigation, ascertain such difference and shall determine and by proclamation prescribe such increase or decrease in the existing export debenture rate as ne finds ot be necessary to equalize such difference; except that the aggregate increase made in the export debenture rate for any commodity or product by proclamation in force under this subdivision shall not exceed the rate of tariff duty applicable in respect of such commodity or product. Such increase or decrease in the export debenture rate shall become effective upon the date fixed in such proclamation which shall not be less than sixty days from the date of the issuance of such proclamation.

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