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

360 - AGRICULTURAL RELIEF versity of Illinois and University of Arkansas, and of che graduate school of the Department of Agriculture part of the time while here for a period of three years; that I am an owner of farm land in Illinois, where I spent my youth, and in Arkansas. where 1 spent two years and four months. I am not representing the economists, as was said yesterday. I am an economist and am giving my personal opinion on on these matters. I am representing nobody but myself. The export debenture plan, which I outlined in the hearings on the Adkins bill two years ago, is the plan which I think has a fundamental principle behind it which can be helpful to American agriculture in its present juncture. It isa principle which has been applied not in exactly the same form in which I have tried to sketch it, but in almost the same form, in four other countries. If you de- sire it for the record at a later time I can insert copies of the laws from Germany, Czechoslovakia, Sweden, and France, dealing with an application of the principle to which I am referring. Mr, Jones. I would like to have you insert those. Mr. Stewart. I have not completed the translation as yet in the case of the French material. (The laws of the European countries referred to and submitted by Mr. Stewart will be found immediately following his testimony.) Mr. Stewart. I want to say that I came because your committee chairman wired me to come. The name of Gilbert N. Haugen is known in Illinois, and I think it is true that a telegram bearing his name received by a member of a faculty of an institution of learning in any State would be received respectfully and an attempt would be made to meet such a request. Let us examine the plan as it seems to me that it could be expected to work in the case of wheat. We produce 800,000,000 bushels of wheat; we export roughly 200,000,000 bushels. If an export deben- ture were issued upon wheat at the rate of 21 cents a bushel, as is outlined in the Ketcham bill which is before you, then $42.000.000 worth of export debentures would be issued upon wheat. These debentures could be used by those who receive them to procure deben- tures entry into the United States of dutiable goods of any kind; limiting them so that the total issue on wheat and other things does not exceed half the amount of duties levied upon dutiable goods com- ing into the United States would be sufficient to keep these certificates substantially at par. As a consequence, those exporters—and the bill itself says that these instruments shall be issued to any person—who receive these debentures will have received instruments worth full face value if those same exporters use them to import, and substan- tially full value, except for the brokerage involved. if thev transfer them to some one else for application. It 1s said that legally it makes no difference whether these certifi- cates are made negotiable. Tt does not modify the principle in the The result which should be expected is that those who , e or : purchase or pet rc mh fog most he mh i 8 eg tk vy would otherwise receive, the value of the . a have Forhe language here, part of which I discovered three months A=0. Ss Tound 1m a report laid before a House committee 30 vears

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