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

Usage license:: Get license information via the feedback formular.

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

356 AGRICULTURAL RELIEF the year wiil exceed the five-year average, the debenture rates will be cut on 60 days’ notice by a percentage which is in inverse ratio to the increase, roughly. The table of reductions in rates will be found in subdivision: (e), section 7, on page 12, and are as follows: If there is a 20 per cent increase there is no reduction ; if there is an increase of 20 to 40 per cent there is a 20 per cent reduction; if there is an increase of some 40 to 60 per cent the debenture rate will be cut in half. Mr. Kincueror. Do 'you mean by that that all over of a certain crop that exceeds an average of five years that you are not going to pay any debenture on that? Mr. Goss. No; the whole crop. The whole debenture rate will be cut on the whole crop. Mr. Kincuerog. That is what I mean. You propose to say to the farmer that “if you raise any over an average of the last five years of any one commodity that we propose to reduce the debenture rate- ably ? Mr. Goss. Give him a leeway of 20 per cent. Mr. KrNCHELOE. The economists who are supposed economists have been before this committee time and again and have told us that there 1s no such a thing as a surplus over a period of five years on these asic commodities. Mr. Goss. There is a difference of opinion as to what constitutes a surplus. Mr. Kincaeror. Over and above the basic requirements; that is what I mean by “surplus.” Mr. Goss. Over and above the domestic requirements? Mr. KinceELOE. Yes, Sir. Mo. Goss. This would provide against building up a surplus. The argument, as you know, Mr. Kincheloe, is often raised that if you raise the price of wheat 21 cents you are going to bring a lot more on es Ji production, and this is to provide that if they bring more than per cent acreage into production the debenture rate will be Mr. Kincueroe. That is 20 per cent over the five years? Mr. Goss. That is 20 per cent over the five-year average. Mr. KincuaELOE. If those economists are correct there is no surpl over five years? oT rR Mr. Goss. It is not a surplus. Ie lig ro mean world surplus? r. Goss. Noj if the total ion i . ‘ rer: for five oars by 90 por Lota production is greater than the average Mr Kixcaeror. In the world or United States? iy Ges, The United States. Ir. KincueLoE. That is what I thought Mr. Goss. The rates ar i 2 you Fagan. and they would go into 02 Senthil be wh They are mandatory, lutelv ia elim hio / point where the debenture abso- ely is eliminated if you double production Mr. For. Mr. Goss, on that subject, have y out the operation of this thing in oll ave oe ziternypied by work for example, 20 per: cent increase in ou ee To you make no reduction in debt r wheat production for which bushels a year. would it not e entures would be, rouchly. 160.000.000 Mr. Goss. Yes a

Access restriction

Copyright

fullscreen: Export debenture plan (Pt. 5)

Multivolume work

Volume

Chapter

Table of contents

Download

Volume

Chapter

This page

Image fragment

Citation links

Citation recommendation