COTTON AND WHEAT
SERIOUS OVER-PRODUCTION UNITED STATES GOVERNMENT’S RELIEF SCHEME. MONTREAL, June 14. (Received June 15, at 8.45 p.m.) A Washington despatch 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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Otago Daily Times, Issue 21981, 16 June 1933, Page 10
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134COTTON AND WHEAT Otago Daily Times, Issue 21981, 16 June 1933, Page 10
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