Evening star., 1926-05-02

the farmer, and into the hands OF this
board, financed by approximately as
many millions Of the taxpayers
money as 1t took to build the Panama
Canal. is placed the power TO deter
mine the price the American people
shall pay for their bread and meat.
The board would be charged explicitly
to maintain a minimum price equal
to the world price. plus the tariff, plus
transportation. AS to "a maximum
price. the bill provides only that no
payment Of losses shall be made un
less the purchase or contract for the
purchase is made at a price which,
in the opinion of the board. is not in
excess Of a fair and reasonable price. V
Members of Congress Aghast.
Many members Of Congress have
expressed themselves as aghast at the
prospect of placing any such power
in the hands Of a body Of II men.
especially in the hands Of a body Of
men who were selected solely to be
the partisans and champions of one
section Of the public.
If such a guaranty Of prices is
necessary for the farmer, it is asked.
why not for the producers Of others
of the necessities of life? 1t is
argued that no industry is more in
need of stabilization than that of coal
production, especially in the bitumi-
nous fields. Why not, then, set up a
commission made up of represent
atives of the miners and mine owners
backed by an Appropriation from the
Treasury OF several hundred million
dollars, to stabilize the price of coal or
basis of the world price, plus
tariff protection, plus the cost of
transportation from Wales? This to
be minimum price, with maxi
mum price at whatever the board OF
miners and mine owners thought
fair and reasonable"
And once started, it is asked, why
not carry the idea all down the line
of production? Guarantee every pro-
ducer full 100 per cent benefit from
the protective tariff, with whatever
above that he thinks fair and reason
able"
Surplus of Ladies' BOnnets.
One member Of the House is much
concerned because the unreasonable
weather in April has left the manu-
facturers of millinery with a surplus
of ladies' bonnets on their hands. He
declares an intention to introduce
board to buy up this surplus and hold
It. over to a more propitious year or
sell it abroad and let the taxpayers
stand for the loss.
Some supporters of the idea OF
government price fixing for farm
products have argued that 1t would
not be possible to practice extortion.
because at an extortionate price level
imports would flow in and break down
the artificial prices. But the authors
Of the Haugen bill apparently have
foreseen and attempted to guard
against such an eventuality. Mem
bers of Congress have read and re-
read, with incredulity and amaze
ment, section 18 Of the bill, which
provides:
whenever, during the operations
of the board in respect to any basic
agriculture commodity. the President
Of the United States finds that the
importation into the United States
Of any such commodity, or any de-
rivatiye thereof or competitive sub
stitute therefor, is increasing ma
terially or Is likely to increase ma
terially the losses payable out OF any
equalization fund in respect Of such
commodity, he shall, by proclamation,
| declare that fact. On and after the
day following such proclamation, and
until otherwise ordered by the Presi-
| dent or Congress, it shall be unlaw-
| full to import into the United States
any such commodity, derivative, or
substitute, except under such regula-
tions and subject to such limitations
and exceptions as the President may
| prescribe"
What Might Happen.
An analysis of section 1S, in con.
| nection with other provisions of the
| bill, leads to the conclusion that
something like this might happen:
Conditions are unusually favorable
in this country for wheat, and the
| Summer harvest shows that the
| United States will have an exportable
surplus of 800, 900 900 bushels. At the
same time conditions in Canada, in
France, in Hungary and Rumania