GENERAL FARM PROGRAM 173 



Mr. Andresen. Then you handle the other three-fourths of the 

 crops on the basis of guaranteed payments or production payments 

 to the farmers, 



I refer to meat, beef, pork, veal, poultry, eggs, milk, dairy products, 

 fresh fruits, and vegetables. 



Those will be handled on the other program? 



Secretary Brannan. As and when they are handled by the other 

 program. 



Mr. Granger. Will the gentleman yield there? 



Mr. Andresen. Yes. 



Mr. Granger. Would the same thing. Air. Secretary, obtain for 

 these basic crops, the farm-income feature? 



Secretary Brannan. Yes, Mr. Granger. 



Mr. Andresen. I was just going to get into that. I think we will 

 have to get down to cases here to find out what the cost will be. 



Do you know what the cost of the program was for putting in 

 support prices for the 1948 crop? 



Secretary Brannan. You mean all crops? 



Mr. Andresen. Yes, the cost to the Government. 



Secretary Brannan. For 1948? 



Mr. Andresen. Yes. 



Secretary Brannan. No, of course we do not, and nobody knows 

 the answer to that. 



You can never tell the answer to that until we have disposed of the 

 commodities which we have taken under loan. 



Let us take cotton, for example, or wheat, for example, or corn. 

 We can still put corn, you know, under loan. We do not even know 

 how much corn we are going to get under loan under the 1948 program 

 because it can still go under loan for another 30 days. 



Mr. Andresen. Let's take the case of cotton, because virtually all 

 the cotton that is coming under the loan is under the loan now for 1948. 



Secretary Brannan. That is right, and if it is not under it- now, 

 then it cannot get under it. 



Mr. Andresen. How many bales of cotton do you have under 

 loan or purchase agreement? 



Secretary Brannan. Approximately 4,000,000 bales. 



Mr. Andresen. And how much money is tied up in that loan 

 program? 



Secretary Brannan. Let us say $650,000,000, for a round figure. 



Mr. Andresen. The loan is about $150 a bale, is it not? 



Secretary Brannan. That is about right. 



Mr. Andresen. You have about 4,000,000 bales under loan, or 

 5,000,000. 



I think Mr. Pace said 5,000,000 bales. Do you have 5,000,000 

 bales under the loan? 



Secretary Brannan. Let us just take the figure 5,000,000. 



Mr. Andresen. That would be $750,000,000? 



Secretary Brannan. All right, $750,000,000. 



But you understand cotton goes out from under the loan. It is 

 withdrawn and sold or it is disposed of and as of any particular 

 minute you cannot put your finger on the exact amount of money 

 loaned. 



Mr. Andresen. I recognized that. Under the new program as 

 you propose to us what change would there be? 



Secretarv Brannan. There would be no change. 



