AGRICULTURAL RELIEF 
year. If you can not get the farmers to do that kind of thing we 
are not very much good. 
Mr. PurNELL. In other words, you want each farmer to control 
his own surplus? 
Mr. Eh: Why, absolutely; right on his own farm. If it is 
wheat and he puts it in the warehouse, just don’t pay him for that 
part of it. At the end of the year don’t pay the man for the part 
you could not sell. If it is cotton, do the same thing. 
Mr. KiNcHELOE. Suppose the world buys corn at 60 cents a bushel 
and you stabilize it at $1, who is going to pay that 40 cents a bushel 
difference? 
Mr. GrRENNAN. The price is right near home. The only thing in 
the world that could stop you would be that your tariff would be too 
low and would let that Argentine corn in here. 
Mr. KincaeLoE. Where do you start—you say a dollar a bushel 
to stabilize it? 
Mr. GrRENNAN. I just used that as an example. 
Mr. KINCHELOE. Do you mean that is going to be the world’s price 
on corn? 
Mr. GRENNAN. Yes, sir. 
Mr. KiNcHELOE. Suppose the wolrd’s price is not more than 50 
cents? 
Mr. GRENNAN. How much of this crop did you export? 
Mr. KincueELOE. Five per cent. 
Mr. GrRENNAN. Just take that off, and don’t export it. 
Mr. KincarELOE. I don’t nean to export 5 per cent. I mean 5 per 
cent on each farmer. How would you work that out? 
Mr. GRENNAN. The same. 
Mr. KincHELOE. We are exporting anywhere from 250,000,000 to 
300,000,000 bushels of wheat each year. 
Mr. GreNNAN. Don’t let that dictate the price. 
Mr. KincueLoE. The unfortunate thing is that the price of wheat 
is set in the world’s market to-day. 
Mr. GRENNAN. Then we must set the price of wheat in our own 
market, where we consume it. 
pil. Rieoymrae But what about the importation of wheat into 
is country? 
: Mr. GRENNAN. If you have a tariff, that is the only thing you have 
o stop it. 
Mr. KincaELoE. We have a tariff of about 42 cents a bushel on 
wheat now, but I don’t see the wheat farmers getting rich under it. 
Mr. GRENNAN. We are talking about this price and you are 
talking about the other price. Canada is doing exactly the same. 
They are getting the market facilities in their own country to stabilize 
price. The whole talk here is that the difference between the pro- 
ducer and the consumer is too great. The consumer is paying here 
more than what we would stabilize this price at. 
Mr. KincHELOE. There is no doubt about that. 
Mr. GreNNAN. If we are going to cure that ill we have to get the 
marketing facilities between these two. Over in Illinois they just 
iad for years and years and years to get the board of trade out from 
piwen the producer and the consumer. They have tried every. 
ng possible to try, and the only way you can do that is to set a 
certain per cent of this aside each month.