AGRICULTURAL RELIEF 
311 
Going on to wheat, for example, 10,000 bushels of wheat going 
abroad, upon which there is an export debenture value of 21 cents 
per bushel. They issue the cooperative a debenture certificate of 
£2,100, which is acceptable at New Orleans or other port for the 
payment of import duties. 
~ Mr. AsweLr. Upon what—anything 
Mr. Taper. Upon anything upon which there is a tariff. Conse- 
quently the cooperatives get the Liverpool price for their wheat plus 
21 cents; there goes back to the cooperative 21 cents minus the expense 
of cashing the debenture. 
Mr. KiNcHELOE. Let me interrupt you right there, because you 
are getting right down to the meat of this thing I have been thinking 
about. That assertion is all right where the deal is by cooperatives. 
But suppose I am a wheat grower out in Kentucky and I sell to 
another man, who exports it himself? 
Mr. Taper. Competition between exporters will give the farmer the 
added value. 
Mr. KincueLok. I am interested in this fellow who does not belong 
to the cooperative organization, not to any farmers’ organization, who 
sells to the individual who exports. How are you going to help him ? 
[ am merely seeking information. 
Mr. Taper. The cooperative can get 21 cents; the exporter can get 
21 cents in debentures so the price level of wheat in America steps 
up to 21 cents. Why? The cooperative or the exporter can get the 
Liverpool price plus one-half the tariff. 
Mr. AsweLr. What would that mean if you were talking about the 
man who already sold it? 
Mr. Taper. If he sold before the operation of the law he might not 
participate. 
Mr. Kixcueroe. He would not participate; that is the trouble 
about it with me. There are a whole lot of these poor fellows who 
can not sit around until the 1st of July. They have got to eet some 
bread. I want that developed right here. 
Mr. Taser. I will develop it right now. 
Mr. KincaLeoe. All right. 
Mr. Taser. It would be in operation continuously after the 1st of 
July, or after the 1st of March, if that was the date stated in the 
law. 
Mr. Kixcurroe. You are dealing so far in the illustrations you 
have given with cooperatives, and I will agree with you if we could 
get 100 per cent of the farmers of this Nation to act as a unit they 
vould not need Congress or anybody else to assist them. 
Mr. Jones. Might I suggest there, if you will permit me to inter- 
polate, that in the last bill introduced, and which I see has not come 
up, I provide that the board may organize an export corporation as a 
sort of “mascot behind the door,” so that if those exporters get the 
full benefit or if there is not cooperative organization adequate for 
handling it, the board may give power to this export corporation and 
let it handle the product, limiting the debenture, if necessary. 
Mr. KiNcHELOE. Are you going to give the export corporation 
bower to buy all the certificates? 
Mr. Jones. Any of these commodities. 
R6160—28—SFR E. PT 5H—