Word: tobacco
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Dates: during 1930-1939
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...Federal Farm Board, tobacco is an agricultural product worthy of relief. To the Treasury, tobacco is a highly valuable tax-producing commodity which brings in some 434 millions, or one-eighth of all U. S. internal revenue. Last week, Treasury and Farm Board braced themselves for a tug-of-war over the tobacco...
First tug was given by James Clifton Stone, vice-chairman of the Federal Farm Board. From Kentucky, he represents tobacco growers on the Board. His proposal: a 50% reduction in all U. S. tobacco taxes. At the Capitol Senator Alben William Barkley of Kentucky and other members from tobacco-growing States were cheered at this potent support for their efforts, so far ineffectual, to ''relieve" tobacco growers...
...each 15? package of 20 cigarets is gummed a blue Internal Revenue stamp with De Witt Clinton's face upon it. That stamp costs the purchaser 6?. From the other 9? the retailer, the wholesaler and the manufacturer deduct their profits. For the actual tobacco in the 20 cigarets the grower receives between...
...name of farm relief Vice-Chairman Stone would cut the tax on 20 cigarets to 3? which, he believes, would reduce the cost to the consumer and increase the sum received by the grower. Vice-Chairman Stone argued that such a cut would before long double tobacco consumption in the U. S. with the result that the Treasury would collect as much in tobacco taxes as it does...
Vice-Chairman Stone was less concerned about cigarets-more than 100 billion of which were sold in the first ten months of 1929, an increase of 13% over 1928-than he was about chewing and smoking tobacco. There has been a 1% decline in plugs. Vice-Chairman Stone's august and expert explanation was this...