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

370 AGRICULTURAL RELIEF Mr. Stewart. We have to recognize the fact that cotton is put into a container comprising bagging and bands, which as a rule stay with that particular bale of cotton until it reaches the mill, where the bands are cut, the bagging removed and the cotton consumed. Mr. AswerL. As a matter of fact, Doctor Stewart, I do not think there is any likelihood of passing a bill giving a debenture greater than the tariff on commodities generally regarded as covered by the tariff. o Mr. Stewart. Very true. What I am saying 1s perhaps academic, but the fact is that cotton is one of the very few commodities which are put into identifiable units which retain their identity from the time that they are first put together until they reach the mills where the bands are cut. It is the only commodity that has been brought into the picture in farm relief discussions of which that is true. The significance of this can be made clear with respect to the experience of an exporter in Memphis. This exporter had taken to certain European markets, I believe he said, 10,000 bales of cotton. Price conditions shifted so that he wanted to bring that same cot- ton back into the United States. He was faced with the necessity of paying two-fifths of a cent a pound as fumigation fee, unless he could show that this was cotton of United States growth. He took the matter up with the Federal Horticultural Board, which ad- ministers the fumigation regulations in the case of cotton, and was able to make clear by markings on the cotton bales, after it had made its missionary trip to Europe, that it was cotton of United States growth. You will hardly find another agricultural commodity ander consideration here of which that same thing is true. Mr. AsweLL. Since there is no tariff on cotton the debenture cer- tificate on that product would not affect the tariff in any way. Why not make it about 5 cents a pound instead of 2 cents a pound? Mr. Stewart. The tariff, you mean? Mr. Aswerr. I would make the debenture on cotton 5 cents a pound instead of 2 cents a pound. Mr. Stewart. That has been suggested. Mr. AswerL. Well, why not? Mr. Stewart. If I may interject—— Mr. Aswerr. Why not do it? Mr. Stewart. If I may interject a statement, when Senator McKin- ley faced this matter two years ago—- Mr. AswernL. Who? Mr. Stewart. The late Senator from Illinois. When Senator McKinley faced this matter two years ago, he preferred 5 cents to 2 cents on cotton. - The whole matter of rates is another story. What is the rate- making principle— . Mr. AsweLL. Would you be in favor of 5 cents on cotton? It would make your bill stronger. [Laughter.] Myr. Stewart. That was what Senator McKinley wanted. Mr. AsweLL. Would you be in favor of 5 cents on cotton? Mr. Stewart. If I were asked to set up a rate-making system, I would have to give it considerable specialized study. I would be glad, in case the committee should like to have a memorandum on that, to try to work it out. but IT would not want to say offhand here

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