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

380° AGRICULTURAL RELIEF indicated reduction in the rate of debenture, that is, a 20 per cent 1n- crease in those two vears compared with the preceding five-year basis. One year passes. The board reports that there was an increase of 20 per cent. The warning goes out to the farmers of the country, « You overincreased last year, and if you do that again this year, or if you don’t make an adjustment in your acreage this year to a much lower basis, the average for the two years will be such that you have no debenture year after next. That is a suggestion. It is not perfect by any means. But, again, there is a suggestion which has come to me indirectly this morning. This method might resemble the basis used in a tariff law about a hundred years ago, whereby the amount was reduced annually by a certain proportion of the tariff. It was to take 10 years, 1 bélieve, to cut the tariff down to about half, or something like that, to its original figures. Mr. PurneLL. Is it not true, as a general proposition, that lower price levels are followed by corresponding increased acreage, and that higher price levels carry with them a lower acreage? That has been suggested by a number of witnesses who have appeared before the committee. Mr. Jones. Just the reverse. Mr. Pur~err. In my opinion it is the reverse, but the question has been that the lower price levels carry with them the increased acre- age and representing an effort to get in more money regardless of net profit involved. Mr, Stewart. There is a great deal of force in that contention as stated. Mr. Kincueroe. I think that is true. Mr. Stewart. It depends upon whether we are concerned with marginal land or with other land. Mr. Kincaeror. I am talking about the land in America. Has that been your experience as an economist that the lower the price the greater the amount of the commodities raised ? Mr. Stewart. Take the case of wheat. Our wheat acreage has been cut down to a little more than 50,000,000 acres as compared with the 76,000,000 acres which we had in 1919. Mr. Jones. But, Doctor, there was a special appeal to the patriot- ism of farmers during that time to produce wheat needed by the whole world. I know in 1917 and 1918 there was; and, of course, the farmers had gotten their machinery and they had gotten their facilities and were all arranged for larger production. Mr. Stewart. There was a hang over there. Mr. JoNEs. Do you not think, generally speaking, high prices stim- alate production and lower prices retard production? fr Smmane, I should say that was the tendency. The only thing his matter of agricultural acreage is that you can increase 1t more easily than you can decrease it, speaking in totals. So far as indi- ronal crops are Wig it is possible to get out of line with other ENC mers will try to get out of sinking ships. But so far as keep ois Lage 1s ohuenerd, hard times may cause the farmers to whieh hor an working rather than to neglect it. Take the case in gh taxes are runnine and the farmer has some land which

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