Congressional Serial Set Volume 7965

Congressional Serial Set Volume 7965

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...and domestic vegetable oil industries. The federation is not in favor of a very high level of duties on commodities generally. Because of the fact that there is an exportable surplus of the principal farm crops it is impossible for the fanner to reap the benefits of a protective tariff in the same degree that these benefits are conferred upon manufacturers. The result is that under a high-tariff policy the farmer sells his produce at or near the world competitive market price and tnat he must buy a large part of what he consumes in a protected market; that is, in a market which is considerably above the world competitive price. There are important exceptions to this general principle, but, nevertheless, the general principle remains. In general, a relatively low tariff will give the fanner as much actual protection as a very high tariff where large amounts of the goods in question are Exported. As an illustration, it is probably true that very few wheat growers would receive any greater benefit from a 70 cents a bushel duty on wheat than from a 35 cents a bushel duty. This situation is very different from that of the manufacturer of the finer grades of textile goods in whose case a duty of 200 per cent on his conversion costs will actually give twice as much protection as a duty of 100 per cent. In a word, it is only in the exceptional cases that the farmer will benefit much from high rates of duty on his products, whereas it is the rule that in the case of goods which are being imported in large quantities the domestic manufacturer will benefit almost or quite to the full extent of the high protective duty. A duty on vegetable oils would constitute an exception to the general principle. The oils in question arc coconut oil, soya-bean oil, more

Product details

  • Paperback | 498 pages
  • 189 x 246 x 25mm | 880g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236519434
  • 9781236519436