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:: 1831935066

URN:: urn:nbn:de:zbw-retromon-232142

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 7

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 521 - 590

Digitisation:: 2022

Collection:: Economics Books

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AGRICULTURAL RELIEF 57% Mr. AxpersoN. I am simply pointing out the President’s objec- tions and the facts which I think support those objections. Mr. FrLMER. You state that under this bill it would be a matter of guessing whereas under the present system we have just about as many guesses as we have under this bill, as I sec it. Mr. ANDERSON. Yes, but people are making those guesses on the basis of financial risk involved, whereas here the Government is making those guesses for them and is imposing a tax in relation to the guess that it ultimately makes. Of course, the President points out that a basis of stabilization which is predicated upon costs plus for inefficient as well as efficient producers normally results in a increase in both acreage and pro- duction, on the average over a period of years, and that this would ultimately involve a large increase in the equalization fee, might ultimately bring about a breakdown of the system itself. The President calls attention to the fact that the bill would build up an enormous bureaucracy. I only wish to call attention to the fact that under this bill, in which no discrimination as between agencies 1s permitted, the board might be required to make a large number of contracts and these contracts and the operations under them must all be supervised and the results of those contracts deter- mined by an audit in order to fix the liability of the stabilization fund to cooperatives or corporations created by them as well as by processes, etc. I would also require a large force of men to audit and determine whether the equalization fee has been applied and payment made in every instance in which somebody is liable for its payment. I think the audit of these accounts would be a very difficult matter. The President pointed out that while the board will not buy or sell directly, it must, in determining the loss for which the stabiliza- tion fund will be liable, establish prices which are the basis of the losses in the contract and pass upon the purchases and sales made under them. This in his opinion practically puts the board directly in the business of fixing prices and of buying and selling on the market. The President points out there is no time limit under which con- tracts may run, and that there is no limit in the previous bill on the amount of liability of the Government for losses, charges, etc. That particular thing has been corrected in this bill by providing that total liability for which the equalization fund may be liable, whether put up in the first instance by the Government or later by contribu- tions through the equalization fee scheme, would be the maximum amount which the Government has actually allocated to the par- ticular crop, as I understand it, or perhaps the actual amount which would be appropriated for all crops. Mr. Menges. Mr. Anderson, does not the machinery exist now that you indicate here would be required for the handling of these crops? Mr. ANDERSON. Oh, yes; the machinery exists now for handling those crops. Mr. MENGEs. Who pays for it? Mr. ANDERSON. You mean the physical machinery? Mr. Menges. The machinery that is required to handle these crops In the market that vou have indicated: they exist now?

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