Full text: Export debenture plan (Pt. 5)

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AGRICULTURAL RELIEF 
Mr. Kixcurroe. Oh, no; I am not asking you that. I am talking 
of the possibility of this bill ever being signed by the President if it 
went over, and I am asking your opinion, if vou think he would 
sign it. 
Mr. Taser. That is a question that is not germane to the discussion. 
Mr. KincHELOE. I do not think it is germane around here. But 
when they talk about the McNary-Haugen bill, that is the first thing 
that comes, “ Will the President sign that?” If he will not stand 
for the McNary-Haugen bill, let us get something the President will 
sign. 
Mr. Taper. This bill answers every feature of the veto. 
Mr. Kincueroe. If you are going along that line, you had best 
gest something the President will sign. 
Mr. Taser. Could we get two-thirds vote in Congress to pass it? 
Mr. KincHELOE. I do not know. 
Mr. Taser. I think we can. 
Mr. Kercaam. And if he did veto it he certainly would be put on 
record as against something for which he has stood during his whole 
life, namely, the maintenance of a protective principle. That would 
be a square-toed proposition. 
I think no lawyer I have ever heard of has ever raised the question 
of the constitutionality of this bill. 
Mr. KincHELOE. No; and they do not on the tariff. But there is a 
policy that involves a good deal more than constitutionality. 
Mr. Taper. Mr. Chairman, I hope that they do not ask me foolish 
questions, and a plain farmer is not supposed to know anything about 
the President of the United States. 
ir KincuaELOE. 1 hope you will not give any foolish answers 
either. 
Mr. Taper. Mr. Chairman, we are raising the question of deflecting 
revenue from the Treasury, and I wanted to place in the record here 
as an exhibit statistics showing fully that the export debenture 
method is no more a subsidy, is no more an agency to deflect the 
Fv from the Treasury than are now on the statute books and in 
operation, 
The first exhibit I give you will be D-1, which relates to butter. 
I am giving you that because I am a dairyman and milk Jersey 
cows. We raised the tariff on butter in the closing days of 1922. 1 
have the figures for the United States Tariff Commission of the but- 
ter imports at 8 cents per pound from January 1, 1923, to April 1, 
1926, at 8 cents a pound. During that period 50.226,406 pounds of 
butter came into the United States for consumption. The tariff on 
this butter was 8 cents a pound, or a total of $4,018,113, an average 
tor all the months under the 8-cent tariff of $103,029. A. - 
And I want my distinguished friend to remember that under the 
operation of the flexible provisions of the tariff a proclamation by 
the President of the United States was issued raising the tariff on 
Pitan Soom 8 cents to 12 cents; that it went into effect in April, 
Toil my memory serves me correctly. But the figures of the 
rit Commission show that during the 21 months, since the 12-cent 
jeri went into effect, that there has been imported for consumption 
ins Ae United States 11,907,428 pounds at 12 cents, yielding $1.428.- 
892, or $68,043 per month. 
Mr. KixcureLoe. Then. you do not think—
	        
Waiting...

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