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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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of Jesse Newsom, of Indiana

Collection:: Economics Books

400 - AGRICULTURAL RELIEF other in adjusting production to demand. The impossibility of absolute control of production emphasizes the wisdom of exercising the maximum of control. Thousands of acres of cotton and tobacco land will raise corn and wheat. In December the Department of Agriculture reported: «In livestock and livestock products we are to-day on an import basis. The value of our net imports of animals and animal products for the past three years was 6.2 per cent of the total farm value of domestic production.” Beef consumes corn. It was stated a few days ago in the Senate that shutting out Cuban blackstrap molasses would increase corn consumption in the United States 50,000,000 bushels for the manufacture of alcohol. Two deductions are clear. Thorough organization of commodity cooperatives will aftord a powerful instrumentality to remedy such conditions and adjust production to demand; second, any commodity is interested in the organization of all others on defensive grounds. Some say we can not affect production. There are many ways to affect and adjust it. We have thousands of acres in wheat in the West which should be raising sugar beets. Homesteading is progressing, and that could be stopped. If an operating period were declared on wheat under the Mc¢Nary-Haugen bill, or a debenture plan, and the producer given a substantial benefit of the tariff without at the same time giving like benefits to other major commodities, there would be danger of an excessive increase in wheat acreage. Since the proposed act contemplates operating through cooperatives, the Federal Farm Board might be placed in an embarrassing position if unable to speed up organization of other commodities. In an article published in the Farm Journal in August, 1927, the Secretary of Agriculture said: . “ Commodity cooperative associations have a definite funetion to perform, not only in merchandising farm products, but also in adjusting production to demand. I believe that ample authority for this is provided in. section 5 of the act creating the division of cooperative marketing.” And again in the same article: Large-scale organization for orderly marketing and for adjusting production to demand is essential to that economic stability of agriculture which we all hope to attain.” The Federal Farm Board is bound to meet conditions. which will place it squarely up against this organization question, or else turn the whole operation over to private interests and forget all about the farmer's bargaining power and his cooperative. Whatever the legislative plan, if it is financially beneficial encugh to be an incentive to increased production, the equation of production will find its mightiest ally in thorough organization of the farmers. Government can not limit my legitimate uses of my property; it can not say I shall cultivate only so many acres of this or that; but the farmers’ own organi- zation may contract with its members for reasonable regulation or adjustment of production in consideration of services rendered. The rapidly increasing acreage in Canada is another angle of overproduction. Canadian and Australian grain are both well organized and stand ready and waiting to cooperate with us in stabilizing foreign markets. It would appear that a strong cooperative is the onlv United States agency with which they can function. Loans for organization are needed in any permanent agricultural-relief pro- gram. The subject has a preferred claim to consideration. The structure should be builded first and then given its uses. It is a supermajor operation which should be treated where most needed and bv the agency responsible for agri- culture's present ills. The farmer does not ask a gift, but a loan. It is not likely that more than $2,000,000 would be borrowed in the organization of all the commodities. Such a loan is so modest in this atmosphere of vast appropriations that Gov- ernment can not afford to take the chance of handicapping the Federal Dam Tory OF hs omission. Furthermore, refusal would appear unsympa- t e fundamental objective of agricultural relief. namely. bargain- ing power. ee stated hy fe farmer can not organize himself ; how loans will be such aid EW ae Ys e amendment ; and the urgency and justification for s e standpoint of the farmer and the operation of the law. We know of no substantial obiection.

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