130

AGRICULTURAL RELIEF
Ar. KercHAM. Assuming it is 30 per cent.

BLEDSOE. Yes, sir.

. XercEaMm. If your plan was set up how great an amount as
o increase in production could be handled?

Mr. BLEDSOE. I can not answer as to that question.

Mr. KercuaMm. You can give us your individual idea, because
that is what we are considering. We are entitled to a frank opinion.

Mr. BLepsoE. I do not know just what the individual farmers
would do if the proposition was put to them. I don’t know.

Mr. KercHaM. From the standpoint of your own organization,
you certainly would not be here before us if you did not believe
there would be an increase in membership.

Mr. BLEDSOE. Yes, sir.

Mr. Kercuam. And you have taken into consideration what we
all know about the uncertainty of what the farmer will do. Now,
olive us your best judgment.

Mr. BLEDSOE. 1 think it would increase the membership of the
cotton cooperatives considerably. May I put it that way?

Mr. KeTcaam. Yes, sir.

Mr. BLepsok. And I want to hedge by saying that I do not
know what the farmer will do.

Mr. Kercaam. I agree with you.

Mr. BLEpsoE. I can not say what he will do. I want to be earnest
and honest, just as you gentlemen have been.

Mr. Jones. You referred a while ago to leaving out the deflation
period. In my judgment you would be justified in leaving it out,
because I think practically everyone agrees that that was the biggest
blunder this country has made in many years, and one that probably
will not be repeated within the time of anyone now living. But if
your figures were quoted correctly in the record last year, even
though you included the deflation period, it gives you over the
spread of 20 years, 67 instead of 57 cents, as the average loss.

Mr. Brepsoe. Mr. Whittington just told me that. ©

Mr. Jones. Those figures were placed in the Congressional Record
last year. ©
. Mr. BLEpsoE. At the present moment I have not the statistical

ata including that, but in the discussion with all the insurance men
they claim that it should be; they never did say it should be entirely
eliminated, but it should be spread over a greater period of years and
some amount could be put in to take care of it. While these figures
hy fos cents, to make sure I made the rate, you will remember, $1.
in that will take care of the situation, but that will be left to the

oard. While my figures show that 56.6 cents would be the rate, I
thought, in order to be on the safe side, to make it a little more and
[ have stated the rate to do that at $1 to meet an babl or t
take care of this condition ¥ probabls atror w0

N= {| ONES. That is clear.
r. ANDRESEN. I would like to ask you
equalization fee. Is it your idea that the Ot 4 he
assessed against any other crop, or just the cotton crop?
Mr. BLEDSOE. It is treated as a commodity p Ao
Mr. KiNncHELOE. Ij y proposition.

J ) Just want to ask you another quest Ih
been very much interested in thi i a iy
but T think there is u lot of n this matter which has taken some time,

a lot of merit in it. This question of equalization