I
AGRICULTURAL RELIEF
Mr. KincueLoe. What would keep a man from going out, a
farmer, and raising more cotton, when he knows by joining your
cooperative he could come 1n, and by paying a. little insurance
premium, would know that he would be guaranteed against loss?
Mr. BLeEpsoE. Mr. Kincheloe, we are not insuring him against
anything but a decline in the world’s price that has been determined
by his actions in the years before.
Mr. KincHELOE. I understand.
Mr. BLEDSOE. It is a future market, which has already taken into
consideration as to how much cotton they expect to be planted, and
how much is expected to come in. All that has been discounted.
Mr. KincHELOE. It is the purpose of your amendment to help the
cotton grower, 1 take it.
Mr. BLepsoke. Absolutely, to get a stabilized price based on
average world conditions over a period of years.
Mr. KincaELOE. Don’t you think every farmer, if he knew he was
going to get a stabilized price, would raise more cotton?
Mr. BLEpsoE. No; I would not think so, and I am a farmer.
vir. KincHELOE. No; you are an agriculturist.
VN r. FuLMER. Are you not trying to stabilize them under this par-
ticular bill here?
Mr. KincaeLoE. No; I am trying to take care of the surplus.
Mr. FuLmer. That is stabilization.
Mr. AsweLL. Suppose he does increase the production; would not
that drive the price down?
Mr. BLeEpsok. That would drive the price down.
Mr. AsweLL. And would you not get the same results?
Mr. BLEpsoE. We are dealing in world prices.
Mr. KincHELOE. Not if we have a good farmers’ bill that will deal
with the surplus, that we have been trying to get for some time.
Mr. AsweLL. Mr. Kincheloe suggested something about heads I
win and tails you lose. Is not that true of all insurance? Ihave been
carrying an accident policy 35 years, and have been paying out all the
bis and Bove not gotten anything in, but is that not the same as
all insurance?
, Mr. BLEDsoE. The same as all insurance. It is just the same as all
old-line insurance.
Mr. Apxins. I can see that we are not going to get through with
this at this session, and we will have to carry it over until to-morrow,
and I would like to ask unanimous consent of the committee to hear
another witness. We have a citizen, a farmer from Illinois, who
wants 15 minutes to say what he has to say. He is here at his own
expense, and has a hired man that he has to pay while he is here, and
[ would like to ask the consent of the committee to suspend, because
we are not going to get through to-day anyway, and let this man
make his statement.
Mr. KincnevLoe. Do you want a witness to come before the com-
mittee and present an idea that he thinks is a panacea that will cure
all the ills of the farmer and have such a short time that no member
of the committee will have time to ask him any questions, or as many
questions as he wants to?
a PurNELL. I think, Mr. Kincheloe, he wants to have only 15
] es, and I think the promise was made vesterday that we would
z1ve him 15 minutes to-dav.
