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

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AGRICULTURAL RELIEF 145 Mr. KiLGorE. Yes, sir. Mr. Fort. Now, then, the New Orleans Cotton Exchange price for spot cotton to-day is 18 cents. What will the merchant who buys the cotton from the farmer pay him to-day in cents? Mr. KiLGore. I am not sure that I am right clear on the New Orleans quotation, Mr. Fort. You would be right if the New Orleans quotation included the fee. Mr. Fort. Put it your own way. When the price in New Orleans is 18 cents for spot cotton, and your equalization fee— - Mr. KiLGore. I reckon you are right; it depends on how the New Orleans quotations are based. Mr. Forr (continuing). How much is the farmer going to get? Mr. Kivcore. I reckon you are right. Mr. Fort. He is going to get the price less the equalization fee? Mr. KiLcore. I am not trying to avoid you question. Mr. Fort. He is going to get 16 or 1614 cents. Now, that is where you think he is going to feel the equalization fee, is it not? Mr. KiLcore. Yes, sir. Mr. Fort. Do you think that is going to make for friendly feeling between the merchants and the form -~re Mr. KiLgore. I think it will dene... handled. Mr. WiLLiams. The farmer does not fall out because he has to pay freight on the stuff to market. Mr. KiLcore. No. Mr. WiLLiams. I do not want to interrupt your line of questioning. Of course, this fee will be paid, but it will be paid just like transporta- tion and the other charges, and the terminal market price will be less all these other charges. So it will not change the present market- ing conditions a particle. Mr. Fort. I appreciate that, and I was trying to get the doctor to say it. To get back where we were a minute or two ago, we were figuring on a stabilized price under either bill? Mr. KiLcorEe. Yes, sir. Mr. ForT (continuing). At approximate production cost to the average producer, and we have assumed that that average produc- tion cost is 17 cents, we will say. Then on the sample transaction we have been using, putting the equalization fee at one cent and one-half cent cost of transportation, and so much for storage, han- dling, and profit to the merchant. On 17-cent stabilization under the Haugen bill plan, the farmer is going to get 1514 cents net, is he not, the first year? Mr. KiLgore. The freight and those items are carried in the prices of cotton now. Mr. Fort. I appreciate that. I am bringing it down to cents and nothing else. He is going to get 1514 cents on 17-cent price the first year. Mr. KiLcore. I do not see any use of bringing freight and those things into a consideration of this kind, because it is there now. Mr. Fort. Well, we will say—— Mr. KiLgore. It would not be any different. Mr. Fort. Now, he would be getting 1614 cents; and then he would zet 1514, just the difference of 1 cent, plus perhaps some accounting very much on the way it is

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