DROUGHT SEQUEL

New Zealand Herald, Volume LXXI, Issue 21883, 20 August 1934, Page 9

DROUGHT SEQUEL

PLIGHT OF LIVESTOCK FORAGE DUTIES WAIVED MR. ROOSEVELT'S ACTION IMPORTS NOW IMPERATIVE By Telegraph—Press Association —Copyright (Received August 19, 0.35 p.m.) NEW YORK, August 18 The Washington correspondent of the New York Times says it is learned that President Roosevelt on August 10 took the unprecedented stop of waiving by Presidential proclamation the import duties on hay and other types of forage for the benefit of the livestock producers in the drought-stricken western States. No announcement was made at the time, as Mr. Roosevelt hoped it might not be necessary to take this action. Now, however, substantial imports are considered to be imperative. They are expected to come entirely from Canada. Also, it is reported, imports of certain types of wheat for seed purposes probably will be necessary, but no indication has been given whether they will receive tariff benefits. FARM INCOME INCREASE FOR THE YEAR INFLUENCE OF BOUNTIES (Received August 19, 6.35 p.m.) NEW YORK, August 18 The Washington correspondent of the New York Times says tentative estimates indicate that in spite of the ravages of the drought the aggregate of the national farm income in 1934 will exceed that of last year by more than one billion dollars, or about 20 per cent. Preliminary figures, which have not yet been officially released by the Department of Agriculture, mention a total of 5,950,000,000 dollars, compared with 4,868,000,000 dollars in 1933. The total, however, includes about 500,000,000 dollars in bounties granted by the Government in the form of processing taxes on wheat, cotton and other basic crops. SHIPPING SUBSIDIES SYSTEM OPPOSED VIEWS OF A MINISTER (Received August 19. 5.5 p,m.) NEW YORK. August 18 The Washington correspondent of the New York American states that Mr. H. A. Wallace, Secretary of Agriculture, in a letter to Mr. Schuyler Bland, chairman of the Merchant Marine Committee of the House of Representatives, opposes further subsidies to American shipping on the ground that payment to foreign carriers is a form of invisible export, which gives prospective foreign buyers more money with which to purchase American farm products. " Any further Government encouragement to the shipping industry, by subsidies or similar measures," Mr. Wallace writes, " would tend to divert the energies of our people to some degree into shipping as compared with other industries. Is it not possible that it may be more to our economic advantage as a nation to concentrate on the exploitation of our rich internal resources, leaving partly to foreigners the carrying trade in which our natural advantages over them are not as great as in other forms of production?"