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 Albert S. Goss, Master Washington State grange and member Executive Committee, national grange, Seattle, Wash.

Collection:: Economics Books

338 AGRICULTURAL RELIEF They are making a margin of profit on every bushel of wheat, which is limited only by the number of the exporters in the field. That is a sound position, I believe; and by adding an export debenture is not going to reduce the number of exporters by one. There will be just the same exporters and they will be making just as large margins and no more, because competition determines the amount of margin which they shall make to-day. Now, as a farmer, knowing that I can get the price at Liverpool, which we will assume is a dollar, plus 21 cents, I am not going to be willing to sell in Amercia for less than $1.21; and when I say as a farmer, I mean the wheat growers of America are not going to be willing to sell in America for less than they can get by exporting it; and they have this great aggregation of exporters to turn to. And unless you contend that the exporters will perfect an organiza- tion to restrict trade to the point where they can take a larger margin than they are taking to-day, the contention that the whole price level in America will not rise, must fall. : Mr. KixcreLoe. What would you do if England was to put on a retaliatory tariff there of 21 cents? Mr. Goss. I think that question would arise in the case of any measure which might be passed. There is no reason why a. tariff should be set up against such a measure. for this is not a dumping measure. :. Myr. Kinoneroe. I understand so, but it would be sold in the world market and you get a debenture back by exporting and selling in the world’s markets. Take Liverpool, for example; suppose England would put a tariff of 21 cents a bushel on American wheat coming into that country, and let Canadian wheat come in. free. I was just wondering what effect this bill would have on that situation. : Mr. Goss. I think, Mr. Kincheloe, that you are rather getting the wrong slant on just what this measure does. Mr. KincuELOE. 1 am trying to find out what it would do if that happened. 25 Krrcaan. It would not raise the price of wheat to England at all? Mr. Goss. It would not. Mr. KincareLoE. I understand this will not, but on general prin- ciples, suppose England would put on a retaliatory tariff of 21 cents a bushel in order to protect Canadian wheat? Mr. Goss. They might do that to-day, and there is just as much cause for them to do that to-day as under this bill. My. KixcurLok. I think so, too. Mr. Goss. This is not a dumping measure. This bill starts with world markets, and that is the basis of the price making. There is no price fixing; it just takes the world markets, and adds to that price the difference in cost of production between home and abroad. Mr. Kixcueroe. Have you figured out what is the average de- benture rate in per cent on these commodities? Mr. Goss. It will vary. Me KiNcHELOE.- I mean the general debenture rate. - one. Toss. ve oi say this, Mr. Kincheloe: We have taken roughly dian e tariff. We have varied it in some things, but roughly » taken one-half of the tariff as a place to begin.

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