796

AGRICULTURAL RELIEF

the same three years, the producers would have received a net gain
of $284,005,960 at a cost to the Government of $949,260, or a net
gain after deducting the debentures of only $282,756,700, in contrast
to the $353,397,742 under the equalization plan. In other words,
under the equalization plan the producers would have received
$70,641,042 more than under the debenture plan.

Summary

Commodity

Wheat... ---COIN
 ccccmean
Total...
Beef... cecn---Butter-.--—-.--,

Total. cou: |--Grand
 total.,-.

Years

: years, 1924-1927
{ years, 1924-1927.

3 years, 1924-1926
3 years, 1924-1926

Debenture plan 1

Rqualization
plan; net
gain after
deducting
aqualization
fens

Gain in price’
of whole
production

Cost to
Federal
Treasury

Net gain
after deducting
 cost to
Government

5705, 268, 2808142, 484, 630|
802, 866,000] 4.990, 500

$562, 783,650 $960, 949, 742!
797, 875, 500 1, 690, 046, 032

, o=hT eT

ey ju

-

2, 131, 575, Z3u

149. Ox4,

9,

10

a: 644. Dad

Difference
in favor of
aqualization
plan

$398, 166, 092
892, 170, 533
0, 336, 625
), 269, 800
1.341, 042
20, 610, 842
), 110, 947, 467

In summing up, it will be noted that the benefits to the producers
of wheat and corn, for the four years 1924 to 1927, and beef and butter
for the three years 1924 to 1926, under the debenture plan, would
have been $2,131,575,240 at a cost to the Government in debentures
of $149,984,390, and the net gain under this plan after deducting the
cost to the Government would have been $1,981,590,850; whereas,
the benefits under the equalization plan for the same products and
for the same years would have been $4,091,642,317, without cost to
the Government or $2.110.947,467 more than under the debenture
plan.

STATEMENT BY HON. THOMAS L. RUBEY, REPRESENTATIVE IN
CONGRESS FROM THE STATE OF MISSOURI

Mr. RuBey. Mr. Chairman and members of the committee. In
the Farm Club News, published in Springfield, Mo., there appeared
on February 23 a letter from our chairman, Mr. Haugen, in reply to
a telegram received by him, calling his attention to the fact that in
the latter part of January, farm delegates representing 16 counties
and 18,000 producer-contract signers, met in convention at Springfield,
 and unanimously went on record as favoring the McNary-Haugen
 bill with the equalization fee. This communication was
signed by L. W. Costello, and represents the sentiment of that
section of Missouri.
This telegram comes from Springfield, and while I do not live in
Greene County in which Springfield is located, the farmers at this
meeting come in the main part from the counties I represent, and
their sentiment is mine.
I ask unanimous consent that this telegram and Chairman Haugen’s
reply to the same be included in our hearings.