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Show 111. Crop Insurance Is Easier To Secure Changes made in the 1940 AAA program make it easier for the farmer to secure insurance on his wheat cop, according to Marvin M. Hatch, member of the state AAA commitjtee. These changies have also simplified the program's administration ad-ministration and made it more economical to operate. "One of the greatest improvements improve-ments on the program is an amendment to the AAA act that makes it possible for a farmer, to pay his premium from advances, issued for that purpose, against future payments he may earn under the AAA program. Since no cash is required, it is a great deal easier for the wheat grower to insure his crop for 1940", says Mr. Hatch. Another feature of the 1940 program is the extension of the period on which the yield and loss data are based. In past programs farmers used the years 1930 through 1935 as their base for computing these data. Under the new plan the years 1936, 1937 and 1938 will be added, which gives an additional three years, in which good crops were raised, upon which to build the data. This nine-year period blended with a 13-year base for the county in which the farm is located, will tend to equalize the effects of unusual losses, (Mr. Hatch reports. In commenting on the benefits j of federal crop insurance he said, "since insurance was first inaugurated inau-gurated it has been applied to practically everything. But with all its widespread application it has never yet been used on an all-risk, all-risk, nation-wide basis to cover I growing crops. Farmers have been j left to fight it out for themselves. If they had a good crop, everything was fine but, if theer was failure, they stood the blow. "Last year the government took steps, experimentally, to correct this evil. The crop insurance program for 1939 was introduced and in its first year more than 150,000 farmers in the United States took advantage of it. Through their cooperation its value and validity have been proved. "There were some farmers who wanted to take out insurance but couldn't because they didn't have money to pay for the premiums ! ! and therefore faced the possibility of financial loss through another crop failure this year". |