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

AGRICULTURAL RELIEF 417 delay, would do the very thing that you have indicated—Ilift agricul- ture on a plane with labor, with transportation, with finance, and with industry; and we think, further, that it does it in harmony w.th precedents and in accordance with the established policy of the Gov- arnment better than any other legislation proposed. Mr. KercaaMm. One further question, Mr. Taber, and I think I am through: Supposing that this bill were passed by the Congress and approved by the President and were put into effect, and that following that agriculture did take its place; and then add the supposition that our population changes will keep on with their draft towards the cities and naturally, possibly, the need for this special kind of legislation would gradually disappear—what is the effect of this particular bill on that kind of a situation? Mr. Taser. This bill 1s self-eliminating. Mr. Kercuaay. “Self-eliminating ¥ describes the situation, and still does not give agriculture a supreme advantage over others; but simply puts it into the picture, so that we can march down the road side by side, which is all any farmer asks. Mr. Taper. That is correct; it does exactly that thing. As we approach the import basis on any commodity, the export debenture automatically, without any expense, without any difficulty, elimi- nates itcelf, and the system that is then prevailing for the protection of other groups will protect agriculture. Mr. Kercuan. I said that was the last question I had, but here is one other: You have stated that you preferred the form of organi- zation set up in the bill—without a board and without what is referred to as the revolving fund or the stabilizing features of the other bill. In the spirit you manifested, which I want to compli- ment, you have said that if it be the judgment of this committee that these added features, such as board and loan features, ought to be incorporated, you would be glad to go along and would give that sort of an arrangement your support, although vou preferred the provisions of this bill; is that correct? Mr. TaBer. That is a correct statement. Our attitude would be simply this: We favor the simple non-salaried, naked proposition because of the reasons we have indicated. But we realize, as we have said in the very beginning, the superior judginent of this com- mittee—your long experience, your seven-years’ study of a problem— and 1f in your judgment you felt that a salaried board was neces- sary, 1f In your superior judgment you felt a revolving fund was necessary, or if veu in your superior judgment felt an export cor- poration was necessary, we naturally would acquiesce in your supe- rior judgment, believing that your study and your experience brought you to this conclusion with the good of agriculture in your mind— naturally we would go most enthusiastically along with the pro- gram in spite of the fact it was not just what we asked for or just what we wanted, Mr. KercHay. You think that is a fair statement; you think that lescribes your sincere desire to compromise? Mr. Tarer. We think so. Mr. Kercuay. If I got your idea of compromise, it is that you are willing to go along the road, but you do not want to go so far as to compromise in the way of the two carpets, where the husband

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