108 AGRICULTURAL RELIEF
NATIGNAL COMMODITY ASSOCIATION
The commodity advisory council shall organize local associations of producers
of the commodity. Such local associations shall form county associations.
County associations shall be federated into district associations. The district
associations shall be federated into State associations, and State associations shall
be federated into the national commodity association for the commodity.
CONTROL OF SURPLUS
An appropriation of $500,000,000 shall be made for loans to the various na-
tional commodity associations for use in acquiring the marketing facilities for
their respective commodities. After the national commodity association for
any commodity has been formed the board, after conferring with the commodity
advisory council for such commodity, shall allocate to such commodity its
equitable share of the $500,000,000 and shall through loans make available such
sum to the national commodity association for such commodity.

The commodity advisory council for the commodity shall confer with the
board as to the manner in which such sum shall be expended in acquiring the
marketing facilities for such commodity. The national commodity association
for the commodity shall, subject to the approval of the board, expend such sum
for the acquisition of such facilities.

The national commodity association having acquired the marketing facilities
for the commodity shall, subject to the approval of the board, determine in
advance of each month the percentage of each producer’s crop which each local
association shall accept from and market for such producer during such particular
month. The commodity advisory council for the commodity shall confer with the
board in regard to the matter. - Under this system only a certain percentage of
the total crop of any commodity produced in the United States will be thrown on
the market during any particular month. If too much is thrown on the market
during one month the national commodity association for the commodity may,
with the approval of the board, decrease the percentage of each producer’s crop
to be delivered by such producer during the succeeding month.

(The hearing was then adjourned until 10 o’clock a. m., to-morrow,
Saturday, January 21, 1928.)

——
House oF REPRESENTATIVES,
COMMITTEE ON AGRICULTURE,
Saturday, January 21, 1928.

The committee met, pursuant to adjournment, at 10 o’clock a. m.,
in the committee room, House Office Building, Hon. Gilbert N.
Haugen presiding,

Present: Messrs. Haugen (chairman), Purnell, Thompson, Hall,
Fort, Andresen, Clarke, McSweeney, Kincheloe, Swank, Rubey,
Williams, Ketcham, Pratt, Menges, Adkins, Aswell, Jones, and

ulmer.

The CrairMAN. The committee will come to order. Mr. Bledsoe,
we will be glad to continue with you now.

Mr. Kercaam. Do you want to make a statement, Mr. Bledsoe,
before you begin?
FURTHER STATEMENT OF OSCAR F. BLEDSOE, JR., PRESIDENT
STAPLE COTTON GROWERS COOPERATIVE ASSOCIATION,
GREENWOOD, MISS.

Mr. BLEpsoe. Yes; I would like to make a statement. Mr.
Chairman, and gentlemen of the committee, I would like to make a
statement at this time. I have a letter from Mr Edwin G. Seibles.