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

340 AGRICULTURAL RELIEF Mr. Fort. May I ask you another question right there? And then I will yield, Mr. Kincheloe: Would you still feel that the debenture should be awarded when there was a world shortage in wheat or in our cotton crop when the price in the world market was already substantially above our production cost or anybody else’s? : Mz. Goss. The bill provides that under conditions of that kind the board may reduce the debenture or eliminate it for a limited period or eliminate it entirely. The bill works on this principle. Mr. Fort. In other words, you have no relation to the price at all, except—the only relation your board has to the question of price in the world market is that when the price exceeds production costs the debenture would disappear or could disappear. Mr. Goss. Yes, that is the idea. Mr. Fort. In other words, there is no price regulation or con- sideration of that feature whatever in the bill? Mr. Goss. I think not. I do not know just what you have in mind when you ask that question. Mr. Fort. The board would have no consideration of the subject on world prices, except when those prices reached a point above American production costs. Mr. Goss. The bill plainly states that when an emergency exists wherein, by reason of a surplus, world prices dominate American markets, holding them at figures below the cost of production, these rates shall be applied. In other words, the discretion is left with the board to establish the rates to fill the emergency gap on crops which are distressed by reason of world conditions. 1 Me, Forr. So that then it would only operate when prices were own? Mr. Goss. If in the judgment of the board that was the only time: it is left entirely to the judgment of the board, Mr. Fort. Mr. Fort. To their unrestricted judgment? Mr. Goss. To the unrestricted judgment of the board. ~ Mr. AnpreseN. That plan would work out the same as the scheme: in the McNary-Haugen bill, would it not? If you should take the money out of the Treasury and substitute a revolving fund for the equalization fee and it would work out in principle the same way. Mr. Goss. No. There is quite a little difference. It is not my purpose to discuss the McNary-Haugen bill. It was just this par- ticular measure, but the McNary-Haugen bill does not of necessity aim to meet the difference in the cost of production between home and abroad ; the McNary-Haugen bill would provide an export cor- poration—I do not know just how it is worded—to buy up the surplus. The corporation might buy up the surplus to a point where it would raise the price a dollar above the world’s markets, or any other amount, but it would not of necessity be just the difference m cost of production between home and abroad. The people who A te Za of surplus which would be taken off of the Kel 1 C y-Haugen bill would determine just the amount of aise. In price. Mr. ANDRESEN. And the purpose of the McNary- ill i &% the farmer the full benefit of the tarift RA Hangen tall is to pe a Yes; the purpose is the same; the machinery is quite

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