Agricultural relief: Agricultural relief

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:: 1831934884

URN:: urn:nbn:de:zbw-retromon-232132

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 6

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 429 - 520

Digitisation:: 2022

Collection:: Economics Books

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AGRICULTURAL RELIEF 431 steel is no longer ‘prince or pauper” as Andrew Carnegie used to say about it; but steel is always a prince. In the case of coffee we know that the Brazilian Government has made certain efforts through a very definite plan they have to stabilize the price of coffee. The criticism which has been made of it in this country is some evidence of its effectiveness. I am not going further with that than to say that the equalization fee principle is involved in the Coffee Control Institute, as it is called, by the levying of a fee of about 55 or 56 cents on each bag to cover the expense of the institute in handling the coffee situation. Mr. ANDRESEN. Doctor, when you used the term “stabilized prices,” did you mean to bring prices up to a higher level and then stabilize them? Mr. KILGORE. Yes, sir; if I did not say that I meant to say a better price and then stabilization. Mr. Apkins. I think this distinction should be noted. It is true that a very large percentage of the sugar plantations of Cuba are owned and controlled by the sugar refineries in this country, and that a large porportion of the production of coffee is confined to another country, making a little different proposition than here. Mr. KiLGorE. Somewhat more advantageous than cotton is, and yet we are not in a very different position; we are in a somewhat similar position as regards cotton. Now, more specifically I wish to call your attention to two state- ments in regard to the manufacture of cotton goods. In the New York Times of January 15, is this press statement (reading): New Bedford, Mass., January 13.—The New Bedford Mercury to-morrow will say that radical curtailment of production has been adopted as the definite policy of the fine-goods section of the cotton industry, and will be put into effect at once by fine cotton cloth mills in New England and in the South. The expectation is that nearly every fine-goods mill in the United States will join in the movement which aims to eliminate the surplus production that has been glutting the market and demoralizing values throughout distributing channels. The plan adopted proposes to limit all fine-goods plants to an output of not more than 80 per cent of normal for the period extending from the present to October 1, 1928. Several New Bedford plants have been curtailing more than 20 per cent for weeks, due to adverse market conditions. The move has been under consideration for some time, both producers and distributers of fine cotton goods urging a substantial curtailment of output as the only hope of stabilizing market and employment conditions in the industry. Efforts have been made to get the Fine Cotton Goods Exchange, the head- quarters of which are located in New Bedford, to act as the leader of the move- ment. In response to these suggestions, the exchange took up the question, and its action at a meeting to-day is outlined in the following statement made by Andrew Raeburn, former Secretary of the exchange, and now its president: ‘““At a largely attended meeting of the Fine Cotton Goods Exchange, held in New Bedford to-day, the members concluded unanimously to adopt the policy of instituting in their individual establishments a curtailment of production; this curtailment to amount to not less than 20 per cent. to start immediatelv and to be continued until October 1, 1928.” Members of the exchange produce more than two-thirds of the fine cotton goods of the country, but the curtailment will embrace a much larger proportion of the industry. Many other mills have already signified their intention of conforming to whatever curtailment policy the exchange adopted. The method of curtailment is to be left to each individual plant, with the understanding that contracts at present on the books are to be fulfilled. Each mill will determine independently whether to run full time with one-fifth of its equipment shut down, or to operate all equipment on short time. Approximately 125.000 to 150.000 fine-goods looms will be affected.

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