FARM RELIEF
REDUCTION OF ACREAGE.
TAX TO! FINANCE PROPOSAL.
UNITED STATES LEVY ON WHEAT
(United Press Association—Copyright). (Received This Day, 11 a.m.) . WASHINGTON, June 16.
The Secretary of Agriculture (Mr Henry A. Wallace) announced to-day that a maximum processing tax on wheat of about 30 cents will be levied to finance the programme for reduction of acreage, unde,r which benefits to a total of approximately 150,000,000 dollars will be paid to farmers this year. A cablegram published yesterday stated: A Washington dispatch of the Associated Press declares that it is learned that the Roosevelt Administration has decided to levy the maximum process taxes on cotton and wheat allowed under the Agriculture Relief Bill to raise funds to finance an extensive acreage retirement by leasing next season in an effort to relieve the chronic surpluses in both commodities. The process tax represents the difference between the current and pre-war prices, which, in the case of cotton, is about 4 cents per lb and, in the case of wheat, 28 to 30 cents per bushel. The cotton and wheat millers will pay the taxes, and in turn will pass the additional costs on to the consumers.
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Bibliographic details
Ashburton Guardian, Volume 53, Issue 210, 17 June 1933, Page 5
Word Count
194FARM RELIEF Ashburton Guardian, Volume 53, Issue 210, 17 June 1933, Page 5
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