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:: 1831935406

URN:: urn:nbn:de:zbw-retromon-232218

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 9

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 591 - 642

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of William H. Settle, president Indiana Farm Bureau Federation

Collection:: Economics Books

AGRICULTURAL RELIEF 679 Unless 1t 18 intended to make the tariff apply to the benefits of agriculture, and to prevent world prices and world conditions from establishing our prices 1n staple commodities, there is no need for legislation as far as a great many of the most important Crops are concerned. When you talk about establishing a board to deal with these problems, without providing a sound and dependable source of funds to take care of losses incurred in maintaining a market in this coun- try above world prices as we operate now, it is pure nonsense. To set up another agency to go into the market to buy at a low price and sell at a higher price, would be ridiculous. We have too many agencles operating on that basis now—so many that to main- tain them all forces a wider margin than is justified between what the farmer receives and what the world market will pay, in order that those engaged in that business can make a living. The more agencies there are operating on that basis the less the farmer receives in the long run. In the case of wheat we look up the Liverpool quotations, deduct 26 cents or so, depending on the part of the country you live in, for freight, add a little for overhead expenses, estiinate what can be gained by the mixing process, then the price is fixed and quoted, and that almost invariably establishes the price of all the wheat that changes hands in this country regardless of where it is used or con- sumed. The result is that instead of selling at world price plus tariff, we who grow wheat in this country get world price minus transportation. The result is that the wage earners of Europe generally pay around 26 cents a bushel more for wheat than the wage earners of America, although the European laborer receives only about a third of the wage that is paid in this country. This condition continues throughout the year and from year to year, as long as there is an estimated surplus in this country. It 1s not only a real surplus existing that does the harm, but an estinated one has the same effect. At the end of the year we find there has not been too much wheat, but that it has all been consumed, except the normal carryover and if that is a little larger than average by the end of the next year it is all gone and the world is better off by having it, everyone except the farmer himself. The world is not producing too much wheat or corn or hogs or cattle or cotton. The world production of these crops is all consumed, and yet at times millions go hungry and are poorly and insufficiently dressed. I hope we can get at the problem, that is to provide the means whereby prices can be meintained that will give to the farmer their cost of production plus a reasonable profit. We can only do that by maintaining a price ecuitable with prices of all other commodities, which are maintained by artificial means such as tariffs and 1mmi- ration laws. } . © If this brings a problem of overproduction—which I do not believe it will—let us meet that problem when it appears. Just a glance backward over the years that we produced too much, as has been argued, should suffice. Where hast all gone to? Where is it to-day?

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