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 Louis J. Taber, master national grange, Columbus, Ohio

Collection:: Economics Books

AGRICULTURAL RELIEF Mr. Taser. The debenture plan will make it operate effectively to the tune of $15,000,000. Mr. KincHELOE. As a matter of fact, so far as tobacco is concerned, { fear it will not help it, and it is nonsense to be talking about a tariff on this dark tobacco or any other tobacco that is exported. Mr. Taser. My friend, you do not understand what I am driving at; you do not understand our plan. Mr. KincHELOE. No; I do not. Mr. Taser. I am trying to point out that the export debenture ralue on tobacco would have been $15,000,000 in America each year for five years. That is what I was trying to say, and I am trying to say, that the export debenture value as fixed by the bill—our rates are not perfect—may be too high or too low, but we think they are right, and they have been worked out very carefully. Mr. KixcHELOE. Would it work? Mr. Taser. If you will turn to the schedule, which will be ex- blained to you to-morrow, you will see it will work. It will raise—— Mr. Aswerr. Without a tariff? Mr. TaBer. There ought to be a tariff. Mr. AswerL. I say, does it work without a tariff % Mr. TaBer. It can be made to work without a tariff. Mr. AsweLr. If there is no tariff, how will it work? Mr. Taser. I did not want to get into that detail, Mr. Aswell, but ve will do it. Mr. AsweLL. You raised the question and I want you to explain it. Mr. Taper. We provide under the bill—may I read section 8, pace 132 [Reading :] 313 Pending the enactment of legislation providing a tariff duty on cotton, regcu- lations requiring that metal tags or other appropriate markings be placed on all bales of cotton produced in foreign countries and allowed transit through the "nited States for exportation may be prescribed by the board. That is to prevent cotton coming in and drawing a debenture value that was not n*~luced on ap American farm. Mr. Swaxg Mid vay eay there ought to be a tariff on cotton ? Mr. Taper. [ vr." ceason it would simplify the operations of the bill very muc Mr. Swank. The rents a pound. Mr. TaBer. Yes; they provide 2 cents a pound. Mr. Swank. That would be % cents whether any tariff was on zotton or not, would it not? Mr. Taper. If there were no fraud, it would worx. Mr. Swaxk. How much now on cotton ¢ Mr. Taser. About $69,000,000. Mr. Kincueroe. Whenever the domestic price becomes higher than *he world’s market without a tariff 2 Mr. Taner. By requiring at the ports of entry the tagging and the stamping of every bale of cotton that comes in and then providing a heavy penalty for removing those tags, it could be made to work. There ought to be a tariff on cotton to prevent Egypt an long-staple ~otton replacing American cotton. Mr. KincHELOE. As I say, do you know how we are going to keep but imports into this country upon which there is no tariff whenever the domestic price becomes hicher than the world’s price? EW.

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