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

AGRICULTURAL RELIEF Mr. Forr. It has? I would like the illustrations of it, because I have not come across that in my reading. Mr. Stewart. It has been sufficiently successful to be continued. That does not say it is perfectly successful. Mr. Fort. Can you tell me what thev are, offhand, so I can look hem up ¢ Mr. Stewart. I have with me and could place in the record a report based upon seven countries, including five countries in which there has been some use of or attempt to use the bounty method. Australia, I think, affords the best recent illustration of what you have in mind. Mr. Fort. Is it the Australian butter bounty to which you refer? Mr. Stewart. They have a number of bounties, governing dried fruits, apricots, and a lot of other things of that kind. Mr. Fort. On all of those? Mr. Stewart. On a number of them. Mr. KiNncHELOE. Do they have that on wheat # Mr. Stewart. The Australians had a wheat pool during the war, and immediately following. and it is continuing to operate. In Australia, I might say, they have had a tendency to use two plans. At.the same time, I think I know of no case in which they have used both plans on the same commodity in Australia, but, on the one hand, you have the tendency to work along the line of corporation or pool and, on the other hand, to work more directly along the line of a customs bounty. As far as I am able to see, there is no inconsistency between the two procedures. As to whether they are both equally suggestive for American experience depends largely upon the way our Constitu- tion is worded. Mr. Kercaam. Professor Stewart, the time is getting short, and I am willing now, unless there are more questions along this line, to turn to the other phase, namely, the penalty feature of it. Of course, we come against this argument that any price stimula- tion, of course, is immediately going to make the situation already bad, entirely worse. Will you please discuss for a little time this remaining feature. Mr. Aswerr. I would like to ask him just one question about rotton. Does this apply to raw cotton only? This debenture plan? And I will give you my reasons for asking that question. There is a bill pending before this committee to require all cotton moved in interstate and foreign commerce to be packed in cotton bagging. That will cover about 3,000,000 bales of lower grades of cotton. If that were to become efféctive, would the debenture plan apply to that bagging shipped out, too? Mr. Stewart. I understand that the present trend is in the direc- lion of dealing in cotton on net weights? Mr. Aswerr. That is including the bagging? no Stewart. No: not including the bags; it would not include ‘he tare. Mr. Aswerr. So that would lose 3,000,000 bales from your plan right off the bat. Mr. Jones. According to the estimates of the department, it would mean 300,000 bales of the lower-weight bagging they are able to make now. 377

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