Show i I I I I j COTTON PLANS ARE DELAYED WASHINGTON June 17 P Sec P-Sec- Sec Secretary Wallace today postponed for tor this week announcement of his hit cotton colton cot col ton program calling for tor a sharp reduction re reo reduction re- re in acreage of the growing crop and levying of the tM maximum processing tax of about 4 cents a pound Official announcement announcement- of the plan was tentatively scheduled for Mon day afternoon The delay was understood to have resulted from a protest filed by Senator Sen ator ator- Smith CD D. S. S C. C to the use of taxes which it was estimated would yield about on the pore per tion of of the cott cotton n crop domestically consumed normally about 50 per cent of ot prod production Smith and a group of oC southern senators sen sea ator and representatives representatives- of ot millers held field a conference with Dr R. R G G. Tugwell assistant secretary of agriculture agriculture agri agri- culture and Charles J. J Brand coad of the farm act Smith presented arguments that a processing tax would be unnecessary this year because Is available avail able for Wallaces Wallace's use under appropriations made by congress The South Carolinian t took ok the tion that a 1 processing tax may depress depress depress de de- de- de press the price of cotton and that without a a tax cotton rf nr win will in tn In c crease rease substantially bly a probably up to to 15 1 5 cents a pound and benefit farmers farm e ers ra at harvest time Wallace however was reported to t be unshaken in his determination to put the cotton program on a sup self porting b basis sis as far as possible His plan contemplates in addition to rentals to growers agreeing to reduce acreage of the growing crop offers to t o them of options on bales of government owned cotton at less than market prices |