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

354 AGRICULTURAL RELIEF Mr. Goss. I just want to call attention—— Mr Kixcreroe. I was just asking how are you going to keep it out; that is what I had in mind. Mr. Goss. I am going to call your attention to the trend of prices which would have more effect than the provision we have here for putting on metal tags on every bale imported so that it could not be imported and shipped through the country. Mr. KixcueLor. There is nothing in that. That metal tag just simply says “ Was not raised in this country.” Mr. Goss. Yes. Mr. KincueLoE. It does not keep them from selling it in this coun- try and getting the benefit of the world’s price plus debenture. Mr. Goss. That would probably be a very small proportion of the imports. Our imports of cotton are long-staple cotton, which is com- ing from Egypt. We have to pay the world’s price at Egypt plus transportation to America. If a debenture rate is established on cotton—let us see what it would do on that 2-cent debenture rate on this long-staple cotton. We will assume that the world’s price in Egypt is, I will say, 20 cents, just for a figure. Mr. KixcurLoe. 1 do not care what it 1s. Mr. Goss. Let us suppose the expense of bringing it to America is 114 cents. Istablishing a debenture rate of 2 cents a pound on long- staple cotton would not raise the price the whole 2 cents, because the world market price is lower than the American price. ‘Mr. KivcHELOE. If you are going to help the farmer, do not do it piecemeal. Why not put a debenture on there that will help him. Mr. Goss. It will help the grower of American cotton. Mr. Kinceror. You have got things I can not really understand. If you are going to help the farmer, if this is going to reflect back down on that grower, which I hope it will if it becomes a law, be- cause I do not want to vote for a bill that is going to help the ex- porters only—if that will do that, then I would put on enough de- benture here so that it is going to help the farmer. Let me go a little further: If you put this debenture on there high enough it is going to help the farmer the higher you put it; and, of course, the more revenue, you will admit. it is going to take out of the Treasury, will you not? Mr. Goss. Yes. ~ Mr. KincuELOE. Of course, I do not see any difference in keeping i out of the Treasury than there is in appropriating it out of the Lreacury after you get it in, in principle. But I think the debenture, if you are going to help the farmer. ought to be high enough so that it will really help him. - To a, Dog 3, Binhel, J will help the farmer on one oc- Gan, a, Hu hen the American farmer is on the world mar- ton is 14 wheat or cotton. We will assume that the price of cot- 4 nl Sous In America and 12 cents in the rest of the world, and enture would not help the American farmer—the cotton grower, because he could only get 12 cents in the European market plas a alent debenture, and he could sell here for 14 cents. or. NCHELOE. Then you sav it will not help the American Mr. Goss. It will not if the price i ica is hi ; 1f the price in America is higher than in the rest of the world: and it is not aimed to do that. es is aimed to

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