I make that statement merely because it indicates that those of us from the west are just a little bit more charitable than some of the fellows from the east. We are supporting this measure because we understand what it means and we are trying to keep in mind the welfare of the entire country. We believe that if, in the case of any of
these important producing industries in our country, it becomes necessary to take unusual methods to encourage their production so that they will meet the need which exists, we ought not to jump to the conclusion that we are going to rule out support. I believe support prices have their place in any economy. That, Mr. Chairman, can very easily be proved, for you cannot possibly ensure that each group within the national economy shall obtain a fair share of the national income unless something in the nature of a support price is established. I do not mean permanently, but the principle generally has to be established, and. I recognize the wisdom of that principle.
We are supporting this measure because we recognize that at the present time we must give encouragement to the production of gold because, in the first place, those who are dependent upon its production need that assistance, and secondly, because we need the gold, particularly for the settlement of the adverse trade balance which we have with the United States. That is our reason for supporting this measure, Mr. Chairman, and I do not think I need say any more at this stage.
Subtopic: EXTENSION OF APPLICATION TO 1954