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

AGRICULTURAL RELIEF 357 Mr. Forr. One hundred and sixty million bushels a year would be three hundred and twenty-odd millions bushels additional. Mr. Jones. May I suggest there is a provision in your bill that on any increase in production you provide for corresponding reduc- tion in the debenture rate? Mr. Fort. That is 20 per cent and above. Mr. Goss. The question has been raised with us, if it might not be well to establish a different rate of increase on different commod- ities. The 20 per cent increase in some crops is not so great as in others. Mr. Fort. Here you go up to 40 per cent on wheat, which would be 320,000,000 bushels, or bring our crop up to 1,120,000,000 or 1,130.000,000 bushels, which is more than we ever raised in the history of the country; and for that you are only going to take 1 cents off the debenture. It seems to me that scale would not even constitute a threat. Mr. Joxes. But there is a provision they can construe in connec- lion with that, by which they can reduce the debenture any amount hey want to, even down to nothing. Mr. Goss. This is mandatory. Mr. Jones. But they have the right, privilege, and authority to reduce that debenture just as far as they see fit, even down to zero. Mr. Fort. But the psychological effect of your legislation that the farmer will feel if he plants 11.000.000 more acres of wheat—— Mr. Jones. I do not think so. That board is going to exercise a little judgment. Mr. Goss. The rates of reduction is in the judgment of the board. If they do not start early enough and are not drastic enough they can be changed. We strongly believe, however, that there should be an automatic scale providing for rates of reduction. Mr. Former. You understand that the farmer has no control whatever over his production, or very little, since he can plant a smaller acreage and the production will sometimes increase ? Mr. Goss. Yes, Mr. Fulmer. Of course, we understand that; but on the average, intelligent planting will bring results a whole lot better than haphazard planting. Mr. Former. Take the instance of the cotton crop in 1926, when they produced 18,000,000 bales, or about 5,000,000 bales above the average for five years. Then, under your bill the debenture plan would not apply on cotton when the crop was 5.000.000 bales above the average for the past five years? Mr. Goss. Oh, yes; it would cut down the debenture rate on cotton. There is an automatic reduction in the debenture rate when the production is as high as that; and possibly the scale which we pro- vided is not drastic enough. Mr. Friyzr. In other words, if the cotton farmers happened to be blessed with a good crop which reduced the price below the cost of production, because of being blessed with a good crop they would not get any benefit out of this plan at all? Mr. Goss. The debenture rate would be reduced by the size of ‘he crop; that is true. Usually the cost of production is also re- duced by the size of the crop, and in the case of that kind, such as vou have pointed out. the remedy which would best be applied is the

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