Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1937-09-08

at least six million bales of Gotten
abroad in order to provide for the
output of our Southern cotton farm
ers. The only way to maintain any
thing like a parity price is the ex-
port bounty. It was known few
years ago as the export debenture. I
believe inevitably we are going to
come to the export bounty plan in
which the farmer will be paid as a
bounty for that portion of his crop
which is sold abroad the difference
between the American parity price
and the world price. I introduced
a bill to bring this about fully two
years ago. I ask the farmers to con-
slider this also. This plan would not
bring about the great degree of con-
troll that the present plan contem-
plates. 1t would still allow for an
annual production of fourteen or fiji
teen million, bales of cotton.
Fictitious Price Boost
If the farmers like this plan, they
should make it known.
do not think the plan so far ope-
rated has been intelligent or of any
value as to cotton. The small adj
vance in the price of cotton is due to
the devaluation of the dollar. Our
cotton policy has reduced the Ameri-
can crop, taken away from us our
world market, and brought about an
increase of seven million bales in the
foreign crop. And the purchasing
value of the price is about the same.
If we go further with it, we will come
to the time when the only market for
Southern cotton will be in the United
States and this market consumes only
eight million bales year. This
means the end of cotton production in
North Carolina. The only way to
preserve the market for fourteen or
fifteen million bales of cotton is the
export debenture plan, or in simple
language, the plan of paying a boun-
ty on exports.
Applies Also To Tobacco
The. same thing applies to tobacco.
Sixty percent of the tobacco produced
by North Carolina farmers is sold
abroad. The other nations will learn
how to produce tobacco. They are
buying our seed and even sending for
our farmers. It may require some
years, but I am of the belief that thew
will learn how to produce tobacco
like the tobacco we produce. We NAV
proceed for a little while on other
plants, but in the long run we must
come to the export debenture or boun-
ty plan in order to maintain a world
market for North Carolina tobacco.
This will predicate a degree of con-
troll, but the control will be much more
generous than it would be if we fol
low the plan of putting up the do
nestle price without providing the
means of selling abroad. No plan that
takes away our foreign market will
be good for us.
Chief Agricultural State
have at all times sought to main
tain the foreign market for cotton
and tobacco because I have known at
all times that North Carolina is the
chief export agricultural State in the
Union. We export both cotton and
tobacco and in large quantities.
Attention is called to, the. develop
ment of production of hurley tobacco
IN Western North. Carolina. In .anv
new system of control, we must pro
vide. both for our Western hurley pro-
ducers as well as our Eastern and
Central bright producers.
| am setting out these things in or
der that our farmers may consider
them for themselves. Let them look
the situation over and think it
through.