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 penture, unless we did some unwise things, and we have checked this danger in our bill. I have taken more of your time than I intended. I want to cover one or two points about the test of farm-relief legislation. The first test is, can it be passed—and I say * passed ” not in the terms of veto, but in the support of Congress. We believe that a proposition of this kind is so fair, so simple, brings new sources of support, brings new forces that it can be passed by this Congress and become a law. The second is, will it work? There has been no complaint any- where, no charge made by anyone that the export debenture idea would not raise price levels. It brings the farmer under the pro- tective system, whether tobacco or wheat, to the extent of the amount of the debenture, and raises general farm-price levels. No one denies this. We want to be absolutely frank about it. We know it is going to cost the Government something. But if the Government in its wisdom has built up a legislative and commercial fabric that dis- criminates against one group, it is the responsibility of the Govern- ment to remove as much as it may those inequalities. The third test, is it constitutional? The drawback provision of the tariff, to which this is very similar, has been tested in the highest courts of the land. It has been in operation for generations. The remitted tariff-duty provision has had congressional approval year after year, and has had Supreme Court interpretations. And I pause to remind you that in the last 5 years, under the drawback provision of the tariff, we have paid back to the American munu- facturers sums varying from $14.000.000 to $35.000.000 per year. And I call your attention to the fact that under the remitted taritf- duty provision we have remitted on the last 5 years on Cuban sugar alone $135,000,000; in the last 19 vears we have remitted on Cuban sugar $375.000.000. Mr. Pcryewn. I suppose you have made a rough estimate as to how much money this would keep out of the Treasury? Mr. Taper. I just stated it would be $146.000.000 based on the last >-vear average under the rates of the bill, according to the ficures f the Department of Agriculture. Mr. KincueLoE. Speaking of this drawback, have you got statistics to show how much drawback the millers have on their products on wheat that came from Canada? Mr. Taper. We have that worked out. but it is long and com- plicated. Mr. KixcueLoe. I thought probably vou had it there. ~ Mr. Taser. I have not it in my papers here. But we can get it, if you want it. Mr. Aswerr. Mr. Taber, I did not quite see how you arrived at that sum. We exported 11,000,000 bales of cotton, and at $10 a oale that would be $110,000,000. Mr. Taper. I am talking about the last 5-vear average. Mr. CLargE. All these figures ought to be in the record. Mr. Taser. I am putting them in the record, and we will be glad ro work out any special table you desire. Mr. KincHELOE. I wish you would put in that miller proposition. Mr. Taper. All right. I will ask our statistician to work out the drawback on flour and put it in the record. 321

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