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

Collection:: Economics Books

AGRICULTURAL RELIEF 353 Mr. Goss. Taking up sections 5 and 6, we have a list of debentur- able commodities and also provide that any agricultural commodity carrying a tariff may be placed under the provisions of this act, and an ‘export debenture rate declared on it by proclamation of the President on the advice of the board. We have included seven commodities in order to put it into opera- tion. We have included the commodity of cotton, which does not have a tariff on it at this time. Section 6 also provides that manufactured products using deben- turable commodities may have a debenture rate established on then in proportion to the ratio which the debenturable commodity used, bears to the total commodity used in the manufacture of the product. Section 7 is a flexible provision which gives the President, on the advice of the board, the right to proclaim a change in the debenture rates either up to the amount of the tariff, or down to the point of elimination. That is to be done, first, if there is any change in the tariff which would necessitate a change in the debenture rates, or if there are conditions which brought about the change or necessity of a change in the tariff rates, it 1s the duty of the Loard to examine into them and report to the President. Second, if there is an emergency under which an American agri- cultural crop is thrown on the world market by reason of a surplus, and it is found that the emergency causes an undue depression in price, that the board may examine, and if they find a difference in cost of production, they may establish a debenture rate up to the amount of the tariff. Mr. KixchHELOE. Just there, on the question of cotton. I think probably that is the only commodity mentioned in the bill that has not some kind of a tariff. If this gets into operation and the Ameri- can raiser of cotton is going to get his full price plus the debenture, how are you going to keep the importers of cotton from bringing their cotton into this country and getting it onto the market? Mr. Goss. That is a very pertinent question, Mr. Kincheloe; and we will say now that this measure or no measure like the equalization fee—no measure which tends to raise domestic prices. can work 100 per cent to perfection without a tariff. Mr. KincuELOE. That is true. Mr. Goss. We have covered that as best we could over in section 8. which will be found on page 13. which savs: Pending the enactment of legislation providing a tariff dury on cotton, regu- 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 United States for exportation. may be prescribed by the board. Mr. KincHELOE. You have already admitted that on products of which there is an exportable surplus that the tariff does not affect it? Mr. Goss. It would: if we had an export debenture rate it would protect it. Mr. Kixcreroe. It would, to keep out imports; yes. Mr. Goss. Yes; and to that extent only. Let us see just about how much evasion there would be. This section 8—— Mr. Kixcueroe. It is not a question of evasion at all; it is just a Juestion of the raisers of cotton over there, saying “ These American cotton growers are getting the world price plus the debenture. I am going to ship mine over there and sell it.”

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