U.S.A. TAXATION

Grey River Argus, 16 June 1933, Page 5

U.S.A. TAXATION

RELIEF FOR SURPLUSES Tax on Cotton and Wheat (Aus. & N.Z. Cable Assn.) (Received June 15 at 9.30 p.m.) MONTREAL. June 14. A Washington dispatch from the Associated Press declares that it is learnp| that the Roosevelt Administration has decided to levy maximum process taxi's on coltmi and wheat allowed under tho Agriculture Relii'f Bill, to raise funds t<> finance an extensive acreage rotin-mi'nt. by leasing next season in an effort to relieve the chronic surpluses of both commodities. The process tax represents the difference between current [ire-war prices, which in tin* of cotton, is about four cents }ier pound am] wheat 2S to 30 confs per bushel The cotton ami wheat millers will pay l.ixes. and in turn, will pa'S the additional costs on io consumers.