AGRICULTURAL RELIEF 
201 
(5) Wheat, 21 cents per bushel of sixty pounds; wheat flour, semolina, 
crushed or cracked wheat, and similar wheat products not specially provided for, 
52 cents per one hundred pounds. 
(6) Cotton and cotton waste, 2 cents per pound. 
(7) Tobacco, 10 per centum ad valorem. 
(b) If the President finds, from the report of the board hereinafter provided 
for, or from any other source, (1) that the cost of producing in the United 
States any agricultural commodity which is not designated in section 5 and of 
which a surplus above domestic requirements is produced in this country and in 
respect of which a tariff duty is imposed by the tariff act of 1922, as amended, 
or any law supplementary to, or in substitution for, such act, is greater than the 
cost of producing such commodity in competing foreign countries, and (2) that 
the domestic prices for such commodity is unduly depressed by world prices for 
such commodity, he may, by proclamation, designate such commodity as a 
debenturable commodity and may prescribe such export debenture rate for the 
commodity as he finds sufficient to equalize the difference between the cost of 
producing such commodity in the United States and the cost of producing such 
commodity in competing foreign countries. Nuch export debenture rate shall 
not exceed the rate of tariff duty applicable in respect of such commodity. It 
shall be the duty of the board to make investigations, under regulations pre- 
scribed by it, to assist the President in determining the need for designating 
ander this subdivision any agricultural commodity as a debenturable agricul- 
tural commodity and in determining the amount of the export debenture rate 
for the commodity. No proclamation under this subdivision shall be issued by 
the board until such an investigation has been made and a report thereof has 
seen submitted by the board to the President. 
{c) The President, upon recommendation of the board, may prescribe a 
lebenture rate for any manufactured product which is made wholly or in part 
of a debenturable agricultural commodity, and for which no debenture rate is 
prescribed in subdivision (a) of this section. Such rate shall bear the sane 
ratio to the debenture rate for the debenturable agricultural commodity from 
which the product is made, as the tctal quantity of the debenturable agricul- 
tural commodity contained in such product bears to the total quantity of 
materials contained in such product, as ascertained and determined by the 
President. 
FLEXIBLE RATE PROVISIONS 
SEC. 7. (a) Whenever, under section 315 of the tariff act of 1922, any change 
in the rate of tariff duty upon any debenturable agricultural commodity or 
iebenturable product of such commodity is made, and the President finds, 
from the report of the board hereinafter provided for or from any other 
source, that in other effectively to carry out the policy declared in section 1, 
an increase or decrease in the existing export debenture rate for such com- 
modity or product is necessitated by the change in the tariff rate or by the 
conditions which are responsible for such change in the tariff rate, he shall 
by proclamation prescribe such increase or decrease in the existing export 
debenture rate as he finds to he necessary. Such increase or decrease shall 
become effective upon the date fixed in such proclamation which shall not be 
less than sixty days from the date of the issuance of the proclamation. 
{b) In order to regulate the foreign commerce of the United States and to 
"arry out the policy declared in seciton 1, whenever the President, upon investi- 
zation of the difference between the cost of producing any debenturable agri- 
cultural commodity or any debenturable product of such commodity in the 
United States and the cost of producing such commodity or product in com- 
peting foreign countries, finds, from the report of the board hereinafter provided 
for or from any other source, that the existing export debenture rate for such 
commodity or product does not equalize such difference, he shall, by such in- 
vestigation, ascertain such difference and shall determine and by proclamation 
prescribe such increase or decrease in the existing export debenture rate as 
ne finds ot be necessary to equalize such difference; except that the aggregate 
increase made in the export debenture rate for any commodity or product by 
proclamation in force under this subdivision shall not exceed the rate of 
tariff duty applicable in respect of such commodity or product. Such increase 
or decrease in the export debenture rate shall become effective upon the date 
fixed in such proclamation which shall not be less than sixty days from the 
date of the issuance of such proclamation.