SISAL HEMP.

Dominion, Volume 5, Issue 1473, 22 June 1912, Page 18

SISAL HEMP.

MEXICAN VALORISATION '•C'tTKME

"Particulars of the Mexican ".Governmont's si=al valorisation scheme embodied iirSUs. 1 in tlio law of January !> last nro;— '...■"f-.w; . To protect tlio industry a special:-tax ranging from i cent to 1 cent, ' to the 1 ' market value, per kilogram (2ib, //'iAf;? >'.. 3ia7..) is to be imposed on tho production.' of raw materia!, Tho Government is , lV have tho power to contract a loan' ot .lv..j .; 5,000,000 pesos (peso equals 2s. OSd.), Tlw .Ml-,:;. capital and interest of this is to bo paid 'off in instalments «s proceeds, aro receive ed from tho special tax. Article G of the law reads: "Tho Government shall establish in the City ' of vvj'i. Merida a Hcjiulatiiig Board of the Hemp Market, which shall consist of fivo membora appointed by the Governor, who slii.ll bo chairman. Tho principal duties of tho ..--b board shall bo—{l) .To receive and manago tlio funds to bo used for the prolwtion'. of the hemp 1 industry; (2) to put .:;;?=h through all mercantile operations which aro'considered necessary to raise 1 and. sustain the price of sisal to a level which ; shall be profitable to producers, in so far as competition with similar fibres pci.mitsi (3) to hold off tho market as'much hemp «s is considered necessary to main;t:nn. tlio.-equilibrium between supply mid '?■< -demand, 1 when production shall exceed ; consumption;'(4);. to ttso : the.overproduclion," when ',thero': is no prospect of ibo 'natural' «nd-> immediate consumjition, for new' I 'industries for which tho fibre may. ;lie'adapted; (5) to open up new sisal njiir-lioti-(G) to piv« all tho.impetus possible .to .tho manufacture-of sisal within tlio Plate." ' ' ■) ■;

■-■■■ The' Government ia to ■establish in ihrt ■penitentiary of the capital a rape walk for tho use of Yucatan fibre. If at <m.v timo tho fund shall become unnecessary for its special object it is not to be applied to nny other public work'or service, but is to lw returned to tho contributors iii: tho' proportion in which they hare con-, contributed.' The profits produced by tho" commercial operations of the U-cgultitiiip ftoord aro to bo used to promote and aid tho manufacture of sisal within the ..State.'