Word: wheat
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Dates: during 1930-1939
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...William Roy Ronald, editor of the Mitchell (S. Dak.) Evening Republican. As set forth in the "purely tentative" Jones bill, Domestic Allotment would work approximately as follows: Thirty days after enactment, the Secretary of Agriculture would publicly estimate what percentage of the 1933 U. S. production of cotton, wheat, tobacco and hogs will be absorbed by U. S. consumers. To each producer of these four staples he would give an "adjustment certificate" stating his share of the output to be thus consumed. Example: If two-thirds of the wheat crop is for domestic consumption and a farmer is raising...
...certificates, negotiable, would have fixed values as follows: wheat 42? per bu.; cotton 5? per lb.; tobacco 4? per lb.; hogs 2? per lb. After harvest the farmer would sell his full crop in the open market. Thereupon the Treasury would step in and collect as an excise tax 42? from millers on every bushel of wheat they bought for flour, 5? from spinners on every pound of cotton, 4? from cigaret & cigar manufacturers on every pound of tobacco, 2? from meat packers on every pound of hog. Thus special treasury funds would be created out of which the Secretary...
...future our tariffs must be lowered and regulated as a result of international agreement. . . . We are practically stopped from negotiating any reciprocity treaties because we are bound, hand & foot, by the so-called 'most favored nation' treaties. France makes fine gloves. We need them. She needs our wheat. We could make a reciprocity treaty with France admitting her gloves free or at a low tariff in return for free admission for wheat. But we have an unconditional 'most favored nation' treaty with Czechoslovakia which also makes gloves and which would thus be able to claim...
...price in rubles. Nominally worth 50? gold, the Soviet ruble is not quoted on international exchange, cannot legally be exported from or imported into Russia but has a value in the hands of clandestine money changers of from 3? to 20?. For 100 poods (60 bu.) of average wheat the State pays from 120 to 200 rubles. In the open markets of Moscow Province and the Tartar Republic surplus wheat will bring at least 2,000 rubles per 100 poods...
...transactions of over 500.000 bu. must be reported. When Farm Board operations were at their height many speculators gave up trading in the Pit because prices were no longer subject to natural movements. Bull Cutten had his first experience with regulation in 1926. He had bought tremendous amounts of wheat and felt that "events were justifying the judgment of conditions I had formed months before when I had taken my position. By every right of commerce I was entitled to a profit on my transaction for the risk I had taken." The Board of Trade, however, forced him to sell...