Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-18
DEBENTURE ISSUE
BOBS Up AGAIN
Norris Tariff Provision May
Cause Second Fight
by Fall.

The warm late Summer and early
Fall days will bring to Congress sec
ond contest over the export debcnture
plan of farm relief which is expected
to be even more intense than the first.
The issue has been formally pre-
serted again by the introduction Of an
amendment by Senator Norris. Repub
lican. Nebraska, to put the debenture
plan in the tariff bill, and unless ali
signs fail a lively time will be had be-
fore it is disposed of.
The Norris proposal is practically the
same as the one finally torn out of the
farm relief bill by the insistence of
President Hoover and the House of Rep
reSentatives, and the indications are
that it may carry much weight in shap
ing the general makeup OF the tariff
bill. Debenture advocates have reprisal
ness ureS against some of the schedules
in the tariff act seriously in mind if
theirproposal is again objected to.
At the same time some leaders eX-
pect the new contest to be affected to ii
considerable extent by the use OF which
the Federal Farm Board now being
formed by the President makes of the
$751; 100000 appropriation yesterday
obtained from Congress for its initial
effort looking to the relief and stabiliZa-
ton of agriculture. OF the total $500
600 is available for that work and much
of this sum probably will BE- expended
in an effort to solve the wheat surplus
situation. The satisfaction or diSsatiS-
faction with which members Of Congress
view the results of that project is eX-
pected to have considerable influence
on their conduct during the new deben-
ture contest.
Fight Long FOreshadOwed.
Renewal of the contest was clearly
foreshadowed at the time the debenture
plan was first voted upon favorably by
the Senate, At to A. The administra-
ton Senators who led the opposition
were told then by some members that
they would vote against the plan in
the farm bill, but not as a part of the
tariff bill If the debenture group can
hold its ranks firm, which most lead
ers seem to think it can, it would ar$
pear as If the vote in the Senate on
debentUres in the tariff bill might be
somewhat increased
Senator Brookhart, Republican, Iowa,
meanwhile is working out plan to
make the debenture provision more
some of the objections raised by PreSi-
dent Hoover through an amendment
which would give the proceeds of de-
benture certificates to the Federal Farm
Board rather than direct to exporters
of agricultural commodities.
In this way" he says, the board
would be justified in Immediately rails
ing the price of, say wheat, the fun
amount of the debenture certificates,
or 81 cents per bushel.
The Iowa Senator intends to confer
with Senator Norris and Senator Rob-
inson of Arkansas, the Democratic
leader, in the hope of winning the sup
port OF these two debenture leaders for
his proposal.
whether the House, which voted over
wheImingly to eliminate the plan from
the farm bill, will be ready to take a
different view later is matter Of spec
ulatiCn. Debenture leaders are Of the
opinion that the Forthcoming recess will
see a change of sentiment, but admin
istration leaders say the first House vote
doomed the plan for the entire session.
Hoover Likely to Sign.
The President recommended the farm
appropriation early yesterday, the House
approved it with little debate, and the
Senate adopted the House resolution
with no debate. Mr.. Hoover doubtless
will sign it soon, thus creating the first
portion of the $500 100000 revolving
fund authorized by the farm relief law.
The list of potential nominees to the
farm board grows daily one addition
made yesterday being Sherman Houston
of Malta Bend, Mo. Senator Patterson
and Representative Palmer of that
State described him to President Hoover
as "a real dirt farmer" They said Mr..
Hoover gave no indication of his inten-
tions concerning the boards makeup
Developments saw no lessening of the
speculation on James G. Stone of Ken
lucky, and Carl Williams of Oklahoma,
as board members. They are being
backed by various farm organizations.
No Dissenting Voice.
There was not a dissenting voice in
the House after Chairman Wood of the
appropriations committee asked that
the rules be suspended to make the APP
preparation. Several Democrats. includ-
ing Representative Garner of Texas, the
leader, said they favored giving the
board the full S500,000.o00
Wood called attention to the letter
of the President, in which he said that
the additional amounts which will be
needed by the board cannot be deter
mined except by the board itself. but
as Congress might shortly recess have
thought it desirable that a preliminary
sum should be provided"
IF the board finds it necessary to
have further funds it should be possible
to make provision for them in ample
time, as Congress will no doubt be in
session by the time they are required, -
the letter added.
Under the farm relief act the money
would be used by the board in making
loans to cooperative marketing agen-
cies and for setting up sterilization cor
porations to take from the market
price depressing SURPRISES.
Several of the Middle Western House
members have suggested that among
the first actions of the board probably
would be move toward the sterilization
of the wheat market.