The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-02-06

me piCpoSeu agency would cOllcCt
or cause to be collected an excise tax
on all marketed wheat produced in
this country. The funds received
from this tax to be applied as pre-
MUM to all wheat sold for export.
''1nasmuch as the export portion
OF the American crop is only about
onefourth of the total mark eted por-
ton, every cent per bushel collected
as an excise tax would be applied
at the rate of four cents per bushel
as premium or bounty on the eX-
ported portion.
AS an illustration of how this
plan will work, assume it has been
found necessary, to establish pre-
war purchasing power, to raise wheat
prices generally 90 to % cents a
bushel. A tax of cents a bush ell
would be assessed against all mar
keted wheat. The fund thus created
would enable the payment of a pre-
MUM of approximately 80 cents a
bushel on that portion of the crop
sold for export, thereby raising the
export price and resulting in a like
raise in the domestic price for all
wheat. Result, wheat farmers have
paid tax of cents bushel and
have received a price increased by
30 cents bushel, securing net
benefit OF % cents a bushel.
Apply the proposition to an in
dividual farmer with 1000 bushels
of wheat. He would receive 80
cents per bushel more with this plan
in operation thar without it. He
would pay tax cents per bushel.
The net result would be gain of 90
cents per ,bushel or $3.50 on each
one thousand bushels sold.
The worlds price would be, as
now, the ruling price. But the
worlds price for United States wheat
would be the Liverpool price plus
80 cents per bushel
THE net result is the same as if
the Liverpool price for United States
wheat had increased % cents a
bushel
Proposed Wheat Legislation
Proposed legislation to carry this
plan into effect has been prepared
for consideration by Congress.
The Agricultural Export Commits
sion, as contemplated in the bill, will
be IN charge of general administra-
ton of the export service. 1t is te
determine as nearly as possible the
amount of each crop, the amount tc
be exported, and fix the necessary
tax and premium to raise the price
of wheat until that commodity re
gains its pre-war purchasing power
The commission is to be afforded
every assistance by other government
agencies in determining amount OF
each crop and amount to be exported
also to make use of cost of LIVING
surveys from the Bureau Of Labor
Statistics and figures from the De.
>partment Of Agriculture in deter
mining the relative value of wheat
The actual business details OF
operation are to be vested in the
Agricultural Export Corporation. Il
is proposed to furnish the corpor
alton a capital stock, from the Unite,
States Treasury, of $500, 100000, call
able only as required and only to be
used to whatever extent necessary as
revolving fund in operations pend
ing the collection of the tax each
year.
"The corporation may either oper.
ate through existing grain trade
agencies and cooperative marketing
organizations, or if necessary it may
go into market direct and buy and
sell any part of the export surplus
but no more than that. The corpor.
alton is to exist only during the
present depression-for the period Of