AGRICULTURAL RELIEF

137
You think it would help to get people generally into the cooperative
movement, because in a real sense it is a compulsory cooperative
proposition. Is that what you are interested in?

Mr. BrEpsok. No; my particular interest is in this feature of it
as regards cotton. As I explained to you gentlemen I do not know
anything about wheat, except general information, but I do know
about cotton. I have some firm opinions anyway. Whether they
are correct or not time will tell.

Mr. FuLMER. As you understand this bill, and also your scheme,
there is nothing in either to force anvbody into your cotton coopera-
tive association.

Mr. BLEpsoE. No, sir. I would not want anything like that.
We operate a cooperative association for service only, and if we can
not give the service, we would prefer to go out of business.

Mr. KixcHELOE. I believe you said in your statement that this
insurance feature would work on commodities that had a stock
market or an exchange?

Mr. BLEDSOE. An exchange, as a basis of obtaining the world’s
price; that insuring the world’s price.

Mr. KincHELOE. That would be cotton and wheat—

Mr. BLEpsoEk. Corn, oats, rye——

Mr. KiNcHELOE. Do you think it would work on livestock?

Mr. BLEDSOE. I can not say now.

Mr. KincHELOE. I was just asking your opinion about it.

Mr. BrLEDsoE. In the nonperishable agricultural products, like
wheat, oats, corn, they are the only things I have studied. I have
not gone into your livestock.

Mr. KiNncHELOE. Have you got an amendment prepared embody-
Ing your ideas?

Mr. BLEpsoE. I have a tentative form here but I would like to
change it to meet Mr. Fort’s ideas, whom I consulted with on this
subject. He made a good suggestion that I would like to incorporate.

Mr. KincHELOE. What is the difference between your plan now
and the plan that was in the bill passed last session?

Mr. BLEDSOE. Practically none. It is a matter f wording to
obviate any ambiguity, you might say.

Mr. KincHELOE. The reason I ask was, as a matter of suggestion,
f you have got that amendment, I think-

Mr. BLEpsok. I will present it.

Mr. KincHELOE. If you could get the ear of the drafting service,
and let them put in your ideas about it.

Mr. BLEDsoE. I will present you with the amendment.

Mr. KiNcHELOE. I would like to see the amendment.

Mr. BLeEpsok. I will get it for you.

Mr. KercuaM. You sdid the amendment in the bill as we passed
it. You meant as the House passed it, not as the Senate passed it.

Mr. KincHELOE. It passed both, and the Senate bill was passed by
the House without dotting another “i” or crossing another ‘‘t.”
The Senate bill is what we passed this last session of Congress. The
substance of that is the same, the verbiage a little different.

Mr. FuLmer. I suggest that we hear Mr. Stone now, Mr. Chairman.

The CaairMAN. Very well.