299 
AGRICULTURAL RELIEF 
Mr. Jones. But that is an entirely different proposition that we 
arg suggesting in the debenture plan? 
Mr. Moraan. I appreciate it is, but in a roundabout way it has 
some relationship. That would be the application as we feel with the 
debenture. 
Mr. Jones. Even to have the equalization fee applicable you 
would have to have an organization? 
Mr. MORGAN. Yes, Sir. 
Mr. JonEgs. If you simply had the equalization fund to be paid into 
the hands of the board and let it lay there it would not do the grower 
any good, even under the theory of performance of the bill. You 
must have an organization to handle it, and your whole argument here 
is based on the theory that you must have some sort of a growers’ 
organization to handle the proposition. Under the debenture plan 
that has been suggested to this committee, it is simply another way 
of raising the money, and what you need is money sufficient to handle 
the program. Now, if you get it by a fee, you must get money enough 
to handle that crop or at least the surplus. lf you can get the same 
amount of money through the debenture or any other plan that is 
fair, that does not bear more heavily on the cooperatives than the 
other, why you have the money to go ahead and handle your problem, 
ave you not? 
Mr. Morgan. Under that debenture plan how much do you ad- 
vance the farmer; is it half the amount of the tariff? 
Mr. Jones. That may be adjusted any way they want it. Differ- 
ent amounts have been suggested in different bills. It simply pro- 
vides that you issue a schedule or a debenture of a stated amount 
on the exportation of these farm commodities. These are tenderable 
in payment of tariff duties. 
Mr. KincHELOE. So the cooperative organization or farmer or 
buyer may grant it to the exporter? 
Mr. Jones. Yes. 
Mr. KincHELOE. Whoever asks for it? 
~ Mr. Jones. Yes. Some bills limit it simply to cooperative organ- 
izations, but all of them make them tenderable in payment of import 
uties. Some bills limit it to 25 per cent, others 40 and others to 
the full amount. 
~ Mr. KincHELOE. Suppose a man to whom that debenture was 
issued did not want to bring anything back from Europe? 
PD rd ox ES. Lt 1s negotiable and may be sold for cash the plan that 
i generally put forward would take about $146,000,000 to 
oy 2.000; er words, around 25 per cent of the tariff receipts. 
ry LIx CHELOE. In the absence of cooperative marketing associa- 
ans Low » ould the tenants who grow tobacco ever get any benefit 
at! ey do not export any tobacco? 
NS Java, The Burley people? 
Mr. KincHELOE. IT am a 
+ domestically 8. opm, not talking [2bout Burley tobacco. Tha 
Morgan has er cent exported that Mr. 
\ : . . 
to er Es. In any commodity the organization could well afford 
Mr. Kix 
what I RIN Gammon. BupDass you have no organization; that is