'Cash income from marketings plus Government payments.

NOTE: These data are the latest figures issued by the U. S. Department of Agriculture. Some revisions have been made in the data since published in the Statistical Abstract of the United States, 1941, table 659, p. 706.

Source: Cash Farm Income, Government Payments, and Value of Products Consumed on Farms, by States 1924-41, and United States 1910-41, July 1942 and Net Farm Income in 1942 about 10,200 Million Dollars, Mar. 1, 1943, U. S. Department of Agriculture.

Value of United States exports and imports of total agricultural products,' 1929-40, and first 9 months of 1941'

1 In order to make the data comparable for all years, figures for agricultural products during 1935 and 1936 as published by the Department of Commerce have been adjusted to exclude trade of alcoholic beverages, candy, moss, and dogs for breeding and to include trade of live silver foxes.

2 For reasons of national security, publication of detailed foreign trade statistics beginning with the data for 1941 has been suspended. 3 Exports of United States merchandise.

4 General imports through 1933: imports for consumption thereafter.

Includes principally products not produced in the United States, such as coffee, tea, crude rubber, raw silk, cocoa or cacao beans, bananas, unmanufactured carpet wool, certain vegetable fibers, and certain essential and distilled oils.

Consists of commodities which are not produced in sufficient quantities in the United States to meet domestic requirements, notwithstanding high tariffs on most of them; or products-most of them also subject to high duties-which are imported Secause of special quality or use, or differences in marketing season, or other special considerations. These imports do not displace- they supplement deficient domestic supplies.

Scurce: Compiled from records of the U. S. Department of Agriculture.

The CHAIRMAN. Will the gentleman permit the Chair to submit a unanimous-consent request, and, that is, that the Secretary be permitted to correct his remarks and make any additions thereto that he deems proper? Is there objection? That will include this and any other matters he might include.

Mr. REED. That applies to all of us, doesn't it?
The CHAIRMAN. Certainly. It always has.

Secretary HULL. Mr. Chairman, if I may, I have left to my associates any details about these matters, because they are here for that purpose and they handle them at first hand, and while I could have brought all the figures and gone into all these details, it has not been my purpose, and I understand it is agreeable for that course to be pursued.

Mr. DEWEY. Mr. Secretary, I would like to refer to matters that are in the future and not in the past. I have in mind a so-called White Paper issued by the British Treasury, apropos of the international clearing union, dated April 7, 1943. Shortly after the Secretary of the Treasury issued a preliminary draft regarding stabilization fund.

I notice in several places in the White Paper issued by the British Treasury references to foreign trade, and particularly on page 9 of section 9, reads as follows:

A member state whose credit balance has exceeded half of its quota on the average of at least a year shall discuss with the governing board what measures would be apropos to restore the equilibrium of its international balances, including (a) measures for the expansion of domestic credit and domestic demand; (b) the appreciation of its local currency in terms of bank loan or, alternatively, the encouragement of an increase in the money rates of earnings; and (c) the reduction of tariffs and other discouragements against imports.

I notice in the Treasury's statement, page 3, section 3 (b) (1), the following:

The country whose currency is being acquired by the fund agrees to adopt and carry out measures recommended by the fund designed to correct the disequilibrium in the country's balance of payments.

In your statement this morning I noticed, on page 2, that by the act of 1934, and I paraphrase the rest of the paragraph to the point reading as follows: "provision was made for full collaboration with the Tariff Commission and the Departments of Commerce, Agriculture, and State, in the carrying out of the program."

In these conversations, if they exist, I see no reference to the participation of the Treasury in the trade agreements, and as it is interested in international payments and foreign trade I was wondering if there is complete collaboration between the State Department and the Treasury Department.

Secretary HULL. Yes; I mentioned the Treasury this afternoon in connection with the regular work and program that was carried out in developing trade agreements by the departments of the government concerned. What you are reading there, of course, is something that financial and monetary authorities have prepared. Nobody else is responsible, not even their departments of government, of course, are responsible for every term they use until they have had time to consider. The draftsman of the first draft put in everything he could think of that this monetary policy might be used to deal with.

As to

what he had in mind I don't know, on some of those things. All I know is that we set out with this trade-agreement undertaking some years ago. We have made most clear the whole scope and nature of it, its policy, objective, methods of operation, and we have not thought of making any departure from the program as it is being administered. In Europe, where they had 27 separate compartments there by reason of trade restrictions between 27 nations, it would take a man a week, almost, to travel through 3 or 4 of those countries. They have their own arguments and use their own language and their own formulas about different phases of those trade obstructions that they have in mind to get rid of.

The point I make is that we feel that we have a sound program here that will operate in a feasible, flexible, and beneficial way, and the 9 years we think has demonstrated that, but we have no thought of changing it in any way.

Mr. DEWEY. May I just press the point one step further.

There are conversations going on and considerations for various international banks and clearing unions. In all those concessions the State Department would take an active part?

Secretary HULL. As you doubtless know, the State Department deals with foreign policy, and any post-war program that might be gotten up here in our Government would finally be headed up in the State Department to be transmitted to the proper country. But whenever a question or questions come up common, for instance, to agriculture, or to monetary, financial, and exchange matters, or to some other phase common to the Interior Department or any division of the Government, we turn the matter over to them and they primarily work out the problem. We keep more or less in touch with it so that we can head up in the State Department whatever is finally developed.

Mr. DEWEY. You will be the final coordinating agency?

Secretary HULL. We do not have the experts there to deal with agriculture and to deal with these other questions, and that is why I say we participate in that way with these technicians and experts on given subjects that are found in other departments when some action common to them is called for.

Mr. CARLSON. Mr. Secretary, just one question. I find when I request information from the Tariff Commission, for instance, with regard to exports of farm machinery, for instance, that I get a table back showing the exports for 1940 and 1941, but I also get a nice little note at the bottom of the memorandum which says the information for 1942 is confidential.

Is that a State Department regulation?

Secretary HULL. No; that is not in the State Department. The State Department has nothing to do with that.

Mr. CARLSON. What department of the Government issues that regulation to mark it "Confidential?"

Secretary HULL. There are numbers of divisions around through the Government and I don't know what all they are doing.

Mr. CARLSON. In other words, you had nothing to do with this direction?

Secretary HULL. No; that is not ours.

The CHAIRMAN. Mr. Secretary, we thank you for your appearance and your very interesting statement.

Secretary HULL. It has been quite a session.

The CHAIRMAN. The first witness tomorrow morning will be the Secretary of Commerce. Do you have something else, Mr. Secretary? Secretary HULL. No.

I was about to say that notwithstanding that we differ now and then, I feel most kindly to my old associate Mr. Reed, and I should say also, to my friend Treadway. I served with him about as long as you, Mr. Chairman, and you are the only one who has served that long. I always found Mr. Treadway, who I am sorry is not present at the moment, scrupulously honest, of the highest purpose and patriotism on all occasions and in every possible sense of the word. I am just sorry that he is not here so I could elaborate on that special sense of warm personal relationship and friendship that has existed between him and myself, and I would wish for him the fullest possible length of years and best possible health. I hope you will convey that to him.

And to my friend from California, I want to add to his laurels in any way I can as we go along with our joint purpose in Congress and over in the Department.

The CHAIRMAN. The hearing is adjourned until 10 o'clock tomorrow morning.

(Whereupon the committee adjourned until Tuesday, April 13, 1943, at 10 a. m.)