AGRICULTURAL RELIEF
it, in a position of controlling the surplus in such a way that it will
not depress the market. That is my conception of this. I just
want to know what your reaction to 1t 1s; in other words, we are
concerning ourselves specially about the distribution of the part
that is consumed locally.

Mr. BLepsor. My idea of what you are intending to do under this
bill is stated in H. R. 7940: “And to further the organization of
producers of such commodities into cooperative associations,” and I
[ am taking you at your word. I think you are right when you give
cooperative associations equal financial and insurance facilities, and
if you give them equal facilities with other handlers of the com-
modity, you can get the farmers to organize. If you don’t, the
cooperatives marketing nonperishables are at such a disadvantage
that they will not survive. I will go so far as to say that I do not
believe they will survive on the present 65 per cent basis that is my
own opinion, and you can take it for what 1t is worth—1I don’t know
whether it is worth anything or not.

Mr. Apxins. The test of thay will be the use made of this scheme
by the men who produce the nonperishables, who have a considerable
surplus.

Mr. Brepsok. Yes; how they handle the surplus marketing of
this commodity.

Mr. AsweLL. If your plan were in operation and is successful, as
you believe it will be—— oo

Mr. BLEDsoE (interposing). I am just telling you that I have my
misgivings. I don’t know what will happen.

Mr. Aswrrr. Well, I believe it will be successful and you do, too.

Mr. Brepsok. I think so. I believe it is right.

Mr. AswerL. If you plan were in operation and successful, would
the equalization fee on cotton be needed or desirable?

Mr. BLEpsoE. I can not say about that. oo

Mr. AsweLL. You would want the equalization fee if your plan
is successful?

Mr. BLepsor. I think the equalization fee really is the most just
method of getting some money together to carry the storage, insur-
ance, and interest on any nonperishable commodity.

Now, in cotton, I will acknowledge to you that the equalization
fee won’t do what some of the proponents say but I don’t say that
the equalization fee is not economic.

Mr. AsweLL. I don’t ask you to. If the plan were in operation
and was successful, and it would stabilize reasonably well the price
on cotton——

Mr. BLEDSOE (interposing). That is the plan.

Mr. AsweLL. Yes.

Mr. BLEpsoE. And what did you say? :

Mr. AswerL. Then, what do you want with the equalization fee?
_ Mr. Brepsor. In case of misjudgment it. would provide for carry-
ing the surplus.

Mr. Apkins. I would like to know this—— -

Mr. AsweLL. Just a minute. One more question, and I will let
you alone.

Mr. BLEDSOE. Yes.

a gy If this plan were in operation and was successful,
totton b Fg L e sufficient to stabilize the ‘price in the handling of
nd wheat, without any other legislation?