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AGRICULTURAL RELIEF 
means more than 500,000 left the farm, because there is a natural 
“nerease which is at least as large on the farm as it is anywhere else. 
Mr. Ketcham, have you a question? 
Mr. Kercaam. Would you be kind enough to repeat at this time a 
statement that I think you made at your previous appearance, with 
reference to relative costs, for instance, of a loaf of bread, taking that 
as a unit, of a reasonable increase of a few cents in the price received 
by the farmer for wheat? 
Mr. Warnace. I do not believe, Mr. Ketcham, I ever made such 
a statement, because I am not familiar enough with that subject, and 
I do not talk about something I do not know. I do not believe you 
will find that in my evidence at any time. 
Mr. KercaaM. You have made that, then, just as a general obser- 
vation that you would be willing to pay an additional cent if required? 
Mr. WaLrace. Oh, yes. 
Mr. Kercuam. In order that the result of that might be that the 
farmer might receive a better price for his wheat? 
Mr. WaLrace. I did make that statement, and I reiterate that, 
that the industrial workers selfishly believe that they would be better- 
ing their own condition by helping the condition of those who are 
their customers, even if that included paying a little more for their 
products. 
Mr. KeTcrAM. Just in that connection, is it not true, Mr. Wallace, 
that the proportion of the ordinary worker’s income actually spent 
for food is relatively becoming a small proportion of his family budget 
each year? : 
Mr. Warrace. Yes; I believe that. Iam convinced that our con- 
ditions have risen. I believe that we have the highest standard of 
living to-day—do not misunderstand me as crying ‘‘calamity’”’ as 
to our standard of living. I believe our standard of living is higher 
than that of any country in the world—higher than it has been 
anywhere. But it is not enough, because our per capita production 
has appreciated faster than our added income, and hence we have 
these periods of stagnation when nobody can work because the other 
fellow can not buy the product of his work. 
Mr. Kercuam. Right in that connection, Mr. Wallace. Do 1 
understand you to say, then, if, for instance, in the laboring man’s 
family budget you think that considering the items of rent and these 
other things contrasted with those of all foods, that the rise in food 
costs has not been as great as the rise in the others? 
Mr. Warrace. No; they have not. 
Mr. Kercaam. And for that reason you are willing to see, if neces- 
sary, a bit of a rise in the food costs in order that the farmer may 
have an opportunity to purchase more? 
Mr. Warnace. And selfishly so that they, in turn, might employ 
us. 
Mr. Kercaam. Then, if I get your philosophy right, you believe 
and you rather subscribe to Mr. Garret Garrett’s philosophy, and the 
burden of that is simply this, that there is no limit to the prosperity 
and growth and development of the United States so long as we share 
the benefits of that progressively? 
Mr. Wartace. That is absolutely true—that we have only 
scratched the potential productiveness of this country; and that there 
is a luxury standard available for everybody willing to work for it,