PROCESS TAXES
COTTON AND WHEAT AMERICA IMPOSING LEVY RELIEVING CONGESTION (United Press Assn.—Telegraph Copyright.) (Rec. 7.45 p.m.) Montreal, June 14. A Washington despatch to 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 in order to raise funds to finance extensive acreage retirement by leasing next season in an effort to relieve the chronic surpluses of both commodities The process tax represents the difference between the current price and the pre-war price, which in the case of cotton is about four cents a pound and for wheat 28 to 30 cents a bushel, Cotton and wheat millers will pay the taxes and in turn will pass the additional costs to the consumers.
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Southland Times, Issue 22043, 16 June 1933, Page 7
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133PROCESS TAXES Southland Times, Issue 22043, 16 June 1933, Page 7
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