Word: surpluses
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Dates: during 1920-1929
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...farm relief problem centres on two bills. The Tincher bill (supported by the Administration) carries $100,000,000 to be lent as a revolving fund to farmers' cooperatives to aid them in solving their crop surplus problems. The Haugen bill (opposed by the Administration, demanded by many farm interests), carries a fund of $375,000,000, which contemplates Government purchase of farm surpluses in emergency to maintain domestic prices, and will impose (after two years) a tax on farm products to provide for losses in the use of the fund...
...considers that the fundamental trouble in the mining situation is that there are too many mines in an industry which already needs retrenchment and consideration. He said, "This is one of the evils often produced by industrialism. A possible remedy is emigration but the difficulty there is that the surplus workers do not as a rule settle on the land. They have received a highly specialized training and they are both unable and unwilling to adapt themselves to new conditions...
...Haugen bill would set up a board similar to that proposed by the Tincher bill, but it would go further: it would endow the board with $350,000,000 instead of $100,000,000. and provide that if the farmers' co-operatives were unable to cope with the surplus problem, the board itself could buy grain or other produce to maintain domestic prices at the world price plus the tariff. Also, after two years, the coffers of the board would be annually replenished by an "equalization fee," a kind of tax collected by the government on all produce sold...
...necessities. It likewise does not like the idea of having a government board deal in farm produce. But on the face of first expressions of opinion it seems the dirt farmers prefer the Haugen bill, because it would not put the burden of dealing with the entire surplus on a few cooperatives, which might not be equal to the occasion...
Totals. Mr. Churchill estimated that the government would have to spend some £812,000,000. He calculated on raising revenues that would yield a surplus of about £4,000,000. But the coal subsidy if figured in with the expenditures instantly turns this surplus into a deficit...