| Show r I Presidents President's Risk All Crop Insurance Plan I Looms as Ambitious Task for Uncle Sam SamI Same Sama C r I j e f a t 8 v G s sg se g i e I c t 1 at t z a it J JI 1 O 1 American agriculture begins another crop year tilt III the he tend In 1937 1937 Or this man l Is turning over assure ure him a normal does crop crap disaster lie ahead To remove this specter or of crr hovering over the tic nation s farms the he government gO Secretary of Agriculture Wallace inset Inlet proposes an a na- na national crop Insurance plan I W WASHINGTON The govern gOern gO government rn e-rn- mente ment In the event Longre Congress approves a federal program of risk risk all crop Insurance would face tace the greatest actuarial tem yet undertaken unde Starting with hundreds of I of wheat farmers the program would eventually em- em embrace embrace brace corn cotton and other ma ma- ma major major jor crops In time It mIght conceivably Include some 6 OO farmers whose farms stretch stretch- stretching stretching ing from coast to coast would woul represent every phase of American Ameri- Ameri American American can agriculture The government moreover would face a task in which at aleast least tour four our private companies have bave failed ailed In the I last st 37 years companies met net e I 11 the t h e r bankruptcy or a lack tack of public confidence In 10 the crop Insurance field So today the only protection protection protection tion available to the farmer Is limited hail hall insurance and very ver taw other specific risks The all all- all fisk risk Indemnity for private con con- concerns con concerns cerns seems to be out of the th Question III BUT RUT UT the presidents president's specs peel J crop Insurance committee which I Is headed by Secretary Henry Wallace and nd has made o D detailed study of the th problem maintains this sort tort of protection must mut be provided If it American is to rest on a D solid foundation Moreover the committee com com- committee points out the government govern govern- government government ment alone Is big enough to han han- handle handle han handie dle die the problem and to tal take ta c crom rom tome borne I loss if It necessary In the however expense to l federal state stale and local govern govern- governments governments governments ments from past crop locce they contend points very strongly to l the th desirability of or crop Incur Incur- Incurance Incurance ance So Congress tends finds Itself face to t face with this gigantic problem What are the points point of ot the president's dents dent's plan Briefly they are Insurance I-Insurance l- l ln urance beginning In 1938 1936 to assure wheat farmers a normal normaJ yield N 2 Collection 2 Collection of premiums In li wheat or the cash equivalent Storage 3 3 Storage of or wheat premiums premium In federal warehouses for release in years year of low production A 4 4 A federal appropriation for to financing administration of ot the th program Eventual 5 Eventual extension of crop Insurance to corn cotton and the theother theother th other major crops s e PARTICIPATION in the pro pro- program program gram ram would be voluntary voluntary but bu It would be put into effect fT ct only In counties where a reasonable probably percentage to ge probably 50 30 per pe of cent of the wheat agreed eed to insure Injure The ot of In on any farm form r I Ibe be determined by the a yield on that fal faim arm m over a pe- pe period period e of ot st several vera I years The fa rn- rn er would be assured a yield up to a predetermined percentage vI uI his avenge production Premium rates rales under this pro pro pro- program gram would be fixed by county count I committees and would vary ac Ell Ell- HI cording to risk Rates on where short crops or have been frequent would p fJ iy IV rates up to 50 per cent of o the lh amount of insurance The government would Insul t t yield and not prices Premium would be paid in wheat or tilt the cash equivalent and would be paid on the same basic without regard retard to variations In prices In years when yields yield were were below the predetermined I average average the government would pay Indemnities sufficient to 10 bring the yield to aver ave age Thus points out Mr Wallace consumers and farmers alike would be benefited since price fluctuation would be checked and a steady supply maintained It is this feature that has started Saskatchewan in Canada Lind the Union of ot South Africa on an extensive study of crop insurance insurance ance |
