Hoover and coconut oil

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Part of The American Chamber of Commerce Journal

Title: Hoover and coconut oil
Language: English
Year: 1936
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Fulltext: March, 1936 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 33 Hoover And Coconut Oil The Philippines have no comfort anywhere among national leaders in the United States relative to their hope of a renewed free market there for their copra and coconut oil. They may as well face this fact. All American parties are out to help the American farmer, and see one way of doing it by giving him a better advantage in the fats and oils fields. In short, Philippine copra is up against the soy bean both in America and Europe; increased production of soy in temperate climes now modifies, will continue to modify, the demand for copra. Judging from his Lincoln (Nebraska) speech to 10,000 west ern farmers in mid-January, Herbert Hoover is as much for direct help to the farmer as any other presidential candidate is. Listen to him: "Instead of trying to find a balance to agriculture by paying a farmer to curtail a crop, we should endeavor to expand another crop which can be marketed or which would improve the fertility of the soil. We import vast quantities of .vegetable oils, sugar and other commodities. . . . We need to replenish our soils with legumes and restore coverages. ... I believe we must be prepared to subsidize directly such special crops until agriculture has again been brought into balance. • At the end of such a road we could hope for a balanced agriculture in full production and increased fertility in our soils. "I am advised that it can be done within the spirit as well as the letter of the Constitution.” There is Hoover, on soy beans and other legumes. His rival, President Roosevelt, is ahead of him in ability to act, and is of like mind with him as to helping the farmer. In the Soil Conservation Act, that no congress will repeal, the President has all necessary authority, plain and probably constitutional, to subsidize domestically-grown legumes while keeping, of course, the excise tax on copra oil. In our judg ment, that in the Philippines we regret this situation will not change it in the least. Copra will remain a good crop, not however the bonanza crop it once was. Time of January 27, whence we have been rewriting, sum- Herbert Hoover marizes specific provisions of the Soil Conservation Act: The act authorizes: (1) surveys; (2) conservation measures including but not limited to, engineering operations, methods of cultivation, the growing of vegetation and changes in the use of land; (3) cooperation or agreements with any agency—or any person; (4) acquisition of lands; or rights or interests therein; (5) operation on U. S. owned land, or on any other lands; (6) U. S. contributions to those who conserve the soil, in the form of money, services, materials, or otherwise; (7) the hiring of employees; (8) the expenditure of money for any thing from the purchase of lawbooks to the maintenance of passenger-carry ing vehicles; (9) and most important, the transfer to the work authorized of such functions, funds, personnel, and property of other agencies in the De partment of Agriculture, as the Secre tary may determine. On this hint, brought to light when the Washington men of the St. Paul Pioneer Press and the New York Tinies Halving Coconutt to Make Copia (Please turn to page 43) March, 1936 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 43 REAL ESTATE By P. D. CARMAN Addition Hills The following are tlie totals for the first two months of each of the last live years: 1932 . .. Pl,251,-152 1933.. . 1,692,048 1934.. . 2,531,342 1935.. . 2,276,947 1936.. . 2,352,312 ■S«?cs City of .Manila Sta. Cruz........ Sampaloc........ Tondo............. Binondo.......... San Nicolas. . Ermita............ Malate............ Paco................ Sta. Ana.......... Quiapo............ San Miguel. . . Intramuros.. . . Pandacan........ Sta. Mesa....... San Felipe Neri 1* 285,463 P 645,571 82,268 18,000 14,188 103,050 94.814 39,140 33.814 19,238 239,288 63,261 81,084 189,402 48,700 21,000 67,869 19,048 88,035 128,619 ---- 32,100 1,130 1,900 34,700 630 1’1,338,076 1’1,014,236 Copra (('nnt in lied from page 34) Stocks on hand in Manila and Cebu— Tons Beginning of Month....................... 9,439 End of Month................................. 8,881 Desiccated Coconvt: The desiccated market was featureless during the month. Pri ces in New York continued pegged at 7-3 4 cents while shipments were slightly smaller than in January. Factories found coconuts rather scarce and high priced. The entrance of new small mills into the business which commenced last year continued but small dealers so far have not shown any disposition to under-cut prices to find a market for their products. Shipments for the month total 2155 tons. CiEXI-kai.: As usual future prospects for coconut products are most uncertain. Many things can happen which will cither improve or harm our prospects. Buyers are adopting a hand to mouth policy with regards to coconut oil, while' buying far more freely other fats and oils not so subject to adverse legislation. There is considerable sentiment in Washington toward modifying the excise tax, but it is extremely unlikely that anything constructive will be done, particularly unless the Philippine Government takes a definite stand favoring constructive legislation along these lines. Prospects for the coming few months indicate iafiuctuating market.with a long range probab ility that the second half year with large* offerings of copra available may prove disappointing to producers in comparison with 1935, although substantially better than two years ago. All this, however,is largely a matter of speculation. Hargis and Godbe (Continued from vage 17) with an assay value of 0 44 oz. at 161 feet from the portal and at 210 feet encountereel the* main vein. The vein at this point is 4 feet in width with an average* assay of 2.02 oz. or 870 per ton. Drifting S. E. at this point shows the vein tei have; a bearing of N. 32 degree W with a moie northerly bearing than the general bearing e>f N. 60 degree* W. A connection with the* west elrift of tunnel 1 is about to be made which will insure: geiexl ventilation and facilitate* the* weak in this section. “Tunnel 2 at the* extreme* northwest end of the* rielge* has proven that Tunnel 2 has not been drivein far enough north to have* cncountercel the* main vein, and a distance* e>f not more than 50 fee*t should encounter the* main vein. At the* prevent time, the elrift being driven east is in a well defined vein and the* assay values are now running between 1’7 and 88. As this vein approaches the* main vein the: values have: shown a steady increase*. This work is starting imme diately and within 10 days should prove; the* location e>f the* vein at this point. “The* main Tunnel at the* 200 level is now in a distance; e>f 365 feet.” Hoover and Coconut Oil (Continued from page 33) re*minde*el Chester Davis, quondam administrator of AAA, that the act existeel, Roeisevclt revamp eel his farm policy without delay. What the supreme* court deprived him of in invalidating the* AAA, he seems te> have in this act in much more* substantial form; anel Time says the act is brief, covering but a single* page*. This being spring, and an ejection year in America, the act will be* heard from this summer. It will prob ably influence the* planting of hundreds oi' thousands of acres; more particularly in the* south, where* superabundant ce>tton togetheiwith new cotton-picking machines disemploy colored labor that it would hardly be well te> have* fleiat northward, will intensive* diversifica tion be* an aim of administration. THE BUILDER'S TEST IS ALWAYS BEST "Builders Choice” RIZAL CEMENT Superior Lower Cost "■II I , HAI I K AI & €C. MANILA P. O. 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