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

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

Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of Louis J. Taber, master national grange, Columbus, Ohio

Collection:: Economics Books

312 AGRICULTURAL RELIEF Mr. KincueLog. Suppose the fellow down in the country does not sell wheat to a corporation but to Doctor Aswell. oo Mr. Jones. If the export icorporation or any other organization has the right to pay $1.25 for wheat there is nobody going to sell for $1.05, and that will automatically bring the market up. oo Mr. KincuerLoe. Who is going to back up the export corporation with that guarantee? Where are you going to get the money to carry it out? Mo. Jones. Provided the Government furnished the money—but the board may in any way it sees fit limit to the export corporation by the issuance of these debentures or giving them anv advantages it sees fit. Mr. Kincueror. I understood him to say there was no appropria- tion in the bill. Mr. Jones. I do not think it would be necessary to use it. Mr. Taser. Doctor Kincheloe—— Mr. KincHELOE. You can leave off the doctor. I am not a doctor. I am trying to assist the farmer. Mr. Taper. Then, Mr. Kincheloe. The Liverpool market now de- termines the price, does it not? Mr. KINCHELOE. Yes. Mr. Taper. Your man in Kentucky has the same chance to get the market price as anyone. We have raised the market price 21 cents; he has the same chance. So much for our volume of wheat. - We have touched only part of the commodities on the schedule, because it indicates that we provide a board that may study these problems and may place a debenture upon commodities upon which there is a tariff. We want to make it clear just what this program will do, and 1 have provided a schedule in accordance with the bill. We have taken the five-year tabulations of the Department of Agriculture on the seven main exports of agricultural commodities, and taking the five- year average with half of the tariff we find that the operation of this bill would direct from the Treasury—would keep out of the Treasury on the last five-year basis 21 cents a bushel on wheat to the amount of $29,000,000; export on flour to the amount of $14,000,000; export os corn; $5,000,000: rice and rice flour. $1.800.000; leaf tobacco. 4 3 ) . Mr. Kincaeroe. What do you mean when you use the expression “by reason of the tariff already on it”? ’ Mr. TaBER. By the proposed debenture schedule. NS Sacre, By reason of the tariff on tobacco? r. Taper. Yes. 0 Gm Wait a minute before you get any further. The wy Tid 1 Lobaceo that has anv tariff benefits at all is the cicar- Mr. Taper. My friend, just hold on—— Mr oy Ng Wait a minute. Your tariff on tobaccc—— AM ER. You do not understand me. The debenture plan will br ing the tariff to the tobacco farmer, fohar i ha Om, Yar foi on tobacco is just as much a fraud on as much, and corn on eat; as you say, it has helped just about carte r commodities which has an exportable

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