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<br /> <br />sevon million four hundrod and fifty thousand, which approachos <br /> <br />sovon million five hundred thousand, instead of six million five <br /> <br />. <br /> <br />hundrod thousand,- it would be very difficult to enter inte a <br /> <br />contr<oet in tho faco of thoso <br /> <br />figures. I don't soe <br /> <br />. <br /> <br />how tho northern statos can properly undortako to gu2ranty that, <br /> <br />bocause they would obviously be guarantooing somothing vory dif- <br /> <br />ficult to dolivor during a dry cyclo of yoars. Tho primary <br /> <br />difficulty is vnlothor tho nerthorn states would be seeure in <br /> <br />guaranteeing enough to eover the needs of the southern sthtes. <br /> <br />lilIL ~EERSON~ It 800ms to me, lIre Chairman, wo v{ould: go a <br /> <br />long ways if wo guaranty a full amount for present requirements <br /> <br />and enough for a reasonable future development, and add to that <br /> <br />the Thlexioan requiroments, vnlich would probably never be reached. <br /> <br />In that way we would put oursolves in the position of absolutely <br /> <br />. <br /> <br />guaranteoing that amount, and we should take into censideration <br /> <br />. <br /> <br />the faots of the inaccuracy of the data, tho vagaries of that <br /> <br />rivor, and other matters of that kind,- we are taking tho chances <br /> <br />absolutely. Lnd if we now give a guaranty of tho requiromonts <br /> <br />of tho lower states, and add to that the ultimate possibility <br /> <br />of a greater amount than tho roquiromonts as ostim2.tod in Noxico, <br /> <br />it soomS to mo VlO arc goinG a long ways c 1'hor-o is no guaranty on <br /> <br />thoir part, it is all on ours, wo aro taking tho chancos and they <br /> <br />are taking nono. <br /> <br />. <br /> <br />1m. CLLDrJELL, Of courso r havo not boon in the h&Lbi t, as <br /> <br />. <br /> <br />you know of thinking of this thing in just tho way yeu havo in- <br /> <br />sisted en discussing it, that is, in preportion to our noods, or <br /> <br />107 <br /> <br />17th-S.l". <br />19 <br />