WHEAT AND COTTON.
PREVENTING OVER-PRODUC-
T 1 ON
COMIPENSATION FOR GROWERS
Press Association—-Copyright)
MONTREAL, June 14
It has been learned (states an Associated Press message from "Washington) that the" Roosevelt Administration has decided to levy the maximum process taxes on wheat and cotton allowable under the Agriculture Relief Bill. The funds raised will be used to finance a scheme, under which payment equivalent to rent will be made to growers oil an extensive acreage, which it is proposed shall be retained from production of wheat or cotton next season, so that the chronic surpluses in both commodities may be reduced.
The process tax represents the diiforence between current and pre-war prices, which, in the case ol cotton, is about 4 cents a pound, while for wheat it is 28 to 30 cents a bushel. Cotton and wheat millers will pay the taxes, and, in turn, will pass on the additional costs to consumers.
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Bibliographic details
Ashburton Guardian, Volume 53, Issue 209, 16 June 1933, Page 5
Word Count
153WHEAT AND COTTON. Ashburton Guardian, Volume 53, Issue 209, 16 June 1933, Page 5
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