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

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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 373 Mr. Jones. That is very possible, at least for the present. It would be unfortunate if it should break down the system so far as cotton is concerned; that is, if we put the debenture too high. Mr. Stewart. Without a tariff? Mr. Jones. I say, without a tariff; and the system might require a tariff in order for it to work to the best advantage. Mr. AsweLL. Let us not consider that discussion final. Mr. KincBELOE. Why ¢ Mr. AsweLL. Because the Department of Agriculture estimates the average cost is about 18 cents. Now, when cotton is selling at 11 cents, as it was a year ago, 2 cents more is still 5 cents below the cost of production. You say it helps a little. But that is not what [ want; I want to do something worth while. Mr. KincHELOE. You do not want to close the debentures on 5 cents? Mr. Jones. I just want to say in that connection, when cotton is 11 cents, I do not know in all the history of the country when the farmer in the South needed $10 a bale more than he did then; and [ want to say this also in that connection if I may have the atten- tion of the committee, that in so far as that is concerned the $10 a bale that would come in might enable them to have a pooling system that would enable them to hold the cotton and get a price that was much greater than 11 cents. If through this means of securing a fund the cotton crop when it was 11 cents last year, or the surplus of that crop, could have been carried over until this year we would have gotten 20 cents. Mr. AsweLL.- You would not oppose 5 cents, would you? Mr. Jones. I would not oppose anything the committee was will- ing to give. Mr. AsweLn. You would not oppose 5 cents, would you? Mr. Jonzs. I would not oppose anything the Government might want to give. But I know it does not do a fellow any good to ask for more than he has any chance in the world of getting under the circumstances. Mr. AsweLr. Unless you ask for plenty in some things you do not get anything. Mr. Jones. That may be your political philosophy; it is not mine. [ try to ask what is right. The Cumarrman. Have you any estimate about cost under this bill ? Myr. Stewart. The estimates which have been made and presented in that chart, which, I believe, has traveled part of the wav around the committee table. Mr. KiNcrELOE. Do you mean this one? Mr. STEWART. Yes. The Crairman. It has been suggested that we advance the de- senture to 5 cents. There would not be enough tariff to go around, would there? I understood you to say the average amounts to $45,000,000 a month. Mr. Stewart. That is the fact, I believe. The Crarrman. That would be $540,000,000. Mr. Stewart. No; more than that. Last year it was $605,000,000, The Crarman. Last year we exported 11,550,000 bales, and that, at $5, would be $557,750,000, and the income is only $540.000.000. so we would be short $37.950.000.

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