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 Now, that was from New England. This statement more recently comes from a North Carolina paper and has a date line of Gastonia, N. C., January 28 [reading]: MILL CURTAILING HELD NECESSARY—ORDERLY CONFORMANCE TO LAW OF SUPPLY AND DEMAND, SAYS WALKER HINES Gastonia, January 28.—The present curtailment program being carried out in various branches of the textile industry are orderly steps on the part of mill men in conforming to the-law of supply and demand, Walker D. Hines, of New York, president of the Cotton Textile Institute, explained in an address to-day to 100 or more combed yarn manufacturers of Gaston and surrounding counties. The curtailments, Mr. Hines said, were initiated to ward off what might pos- sibly develop into a much more serious situation than obtains at present, indi- cating nothing more, he said, than an organized and intelligent effort on the part of the manufacturers to cope with conditions in the most effective manner. Pointing out that a slight overproduction had been in effect in the industry, Mr. Hines declared that respective mill owners had their choice of bringing their production in line with demand by acting promptly in an orderly manner, or of adopting disorderly and much more drastic and injurious methods of action. The Textile Institute head asserted that failure to keep production in line with demand would result in an overhanging surplus which would break prices to a point below the cost of production. This situation which mill men are seek- ing to avoid, would, he pointed out, lead to a very dangerous instability and seri- ously injure the best interest of the mill owners, their employees and customers. Mr. KiNncHELOE. Are you reading that to get it in the record? Mr. KiLGoRE. Yes. Mr. KincueLoE. What is the idea of encumbering the record in that way? I would like to get your ideas, but I am not caring about what these other fellows said. Mr. Kinore. I have just two or, three lines to read, and I will cover that if I may. [Concludes reading:] The Textile Institute head asserted that failure to keep production in line with demand would result in an overhanging surplus which would break prices to points below the cost of production. This situation which mill men are seeking, to avoid, would, he pointed out, lead to a very dangerous instability and seriously injure the best interest of the mill owners, their employees and customers. In presenting this, Mr. Kincheloe, I was calling attention to the movement reasonably successfully carried out already of bringing about stability in prices of the various industries, whereas 1t 1s proposed in this bill to bring about stability to agriculture. In 1922, 1923, and 1924 cotton brought good prices. During that time, cattle, hogs, corn and wheat brought disastrously low prices. As a consequence there were some seventeen million acres of land in the main cotton States that went from these other crops, because of ruinously low prices, largely into cotton. Eight to ten million acres of that land was in Texas and had previously been in corn and wheat and devoted to grazing in the production of beef cattle mainly. The instability there in the low prices for these other products caused a transfer to cotton, and this increase in the acreage of cotton brought about the overproduction in 1925 and 1926, and we had a swing there during that brief period from cattle, hogs and corn and wheat to cotton; and now that cattle are bringing better prices the swing 1s back to cattle and other crops. Crops compete with each other for the use of land. As one crop is more profitable than other crops it takes land from other crops, and mn this way we have a shift from year to year or in very brief periods

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