Agricultural relief: Agricultural relief

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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

Usage license:: Get license information via the feedback formular.

AGRICULTURAL RELIEF 439 Mr. KiLcore. I think it should be stabilized just as nearly the cost of production as possible, so they would not have to sustain ruinous {osses, and yet not sufficiently high, Mr. Fort, to cause too much increased production. Mr. Fort. Do you think if they stabilized it at cost of production they should stabilize it at the cost of production per pound of a 19,000,000-bale crop. Mr. KiLcore. Let us call it 18,000,000; we have never had a 19,000,000-bale crop. Mr. Fort. Eighteen million? Mr. KiLGorE. State your question again. Mr. Fort. say, if they were to stabilize it at the cost of production should they stabilize it at the cost of production per pound for an 18,000,000-bale crop? Mr. KiLGore. I do not know what the board would do. Mr. Fort. No; but should they? I am asking that. Mr. KiLcore. My own thought is, no; if they produced that much it should be below the cost of production. Mr. Fort. If the cost of production of an efficient producer, the man who really produces cotton at what it is worth, the economical value—— Mr. KinGore. You are bringing in a definition of “efficient producer’ that we might not agree on, you know. But if we say average cost of average production I think we could talk with some- thing pretty definite in mind. Mr. Fort. Under your view in the Haugen bill we would stabilize below the cost of production of the high-cost producer? Mr. KiLGoreg. Prices would naturally be stabilized below the cost of production for the high-cost producer. Mr. Fort. Then it really comes down to the question as to whether the cost of an efficient producer is the fair average cost to the producer, or whether the cost of the high-cost producer is to be used as a guide in order for us to decide whether this Crisp bill definition is too high for a stabilization bill. Mr. KiLeore. I say, I do not know what you mean by efficient producer; what your term would include. But if you will use the term average cost of average production, we can arrive at what that is. Mr. Forr. I agree with you it is a very definite formula. Mr. KiLGore. Average cost of average production is reasonably definite, and that would take in the average man, not only the high- cost man or the low-cost man, but the average fellow. Mr. Fort. And such a definition as that would be your definition as to what the Haugen bill should operate at—the average cost of average production; in other words, the price that would not bring in the marginal land producer and would hold production somewhere within the bounds where there is a real economic demand for the crop; that is your idea of it? Mr. KiLGore. Yes. Mr. Fort. Well, it has been my impression, from talking with Judge Crisp, that that was his idea. It may be that the language does not exactly fit in with your view. Now, another question, doctor: Assuming we did stabilize at 16 and 17 cents. That could not be done on a 16.000,000 or 18.000.000 bale crop, could it?

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