[12 
AGRICULTURAL BELIEF 
Mr. Kercuam. So far as wheat is concerned, I think the indica- 
tions are very clearly that the first three months of the marketing 
period is from July until the latter part of September, which con- 
stitutes—— 
Mr. BLEDSOE (interposing). The bulk of the sales. 
Mr. Kercaam. The bulk of the sales. 
Mr. BLEDSOE. Yes. oo 
Mr. KercaaMm. And that corresponds with the dip in the price. 
Mr. BLEDSOE. Yes; the autumnal dip. 
Mr. Kercaam. The seasonal dip; and your plan proposes to do 
away with that dip in price? oo 
Mr. Brepsoe. No, sir; I do not propose to do away with it. 
Mr. Kercuam. Just a minute—spread it out over the year, but 
that the sum total of it will be a higher average in price for the whole 
crop than is received now. If it does not do this, there is no use of 
taking time to urge your plan. 
Mr. Brepsor. I think I made that plain. If you produce more 
than you have facilities to take care of or carry on this market, or 
more than can be carried by the Chicago Board of Trade for wheat, 
or any other agency, the price will not be boosted; you have to keep 
the weight off of the market, and the more weight you put on, say, 
the Chicago Board of Trade, or the more sales there are, then the less 
is the price. If you take the actual wheat handled by the coopera- 
tives and increase the amount they handle to where it will lift the 
load off of the Chicago Board of Trade, naturally vour market will 
rise. 
Mr. KercauMm. I follow you, but when you bear in mind that the 
sales are made by individuals and they come in here on this low-price 
period, I can not see why you can not make a positive answer to the 
question that they would receive a higher price under your plan. 
The average price might possibly not be materially changed by this 
plan, but they would have the benefit of that better price and their 
selling time. 
Mr. BLEDSOE. Sure, but possibly I don’t understand what you 
want. 
Mr. KincHELOE. The benefit would be to those people and not the 
cooperatives. 
‘Mr. BLeEpsok. If you would throw this wheat on the market, 
do you gentlemen believe there would be a rise in the wheat prices? 
I don’t think you do. 
Mr. KuincrELOE. And if the cooperatives have this insurance, 
would that increase the production? If you increase the price you 
would naturally increase production, wouldn't you? 
Mr. BLEpsoE. That would be controlled by the price and weather 
conditions. “ 
r. ADKINS. Let me ask you a question. 
A BLEDSOR. Yes. y 4 
r. ADKINS. Are you a cotton planter? 
Mr. BLEDSOE. Yea, SIT. P 
Mr. Apkins. How much of a cotton plantation do you run? 
Mr. BLEDSOE. About 5,500 acres. 
Mr. Apkins. That is your major business? 
Mr. BLEpsoE. Absolutely. 
Mr. Apxkins. Do you live on vour cotton plantation?