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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />- <br /> <br />. <br /> <br />, <br />... <br /> <br />hundred thousand aore feet, so that I think it may be said at <br /> <br />the outset that it is wholly out of the Questien to censider any <br /> <br />guaranty based on any such figures as eighty millien, or eigilty- <br /> <br />odd million feet. The final figure, I think, may be e:cpressed this <br /> <br />way: In spite of the individual opposition of some of the states <br /> <br />to any guaranty, there is a willingness to enter upon a guaranty <br /> <br />providing there is a sufficient margin of safety in the figures <br /> <br />adopted so that there is roasOn to believe that the guaranty can <br /> <br />be complied with. None of us want to sign a guaranty with the <br /> <br />feeling that somotimo it would be violated, and I presume none <br /> <br />of the southorn states want such a guare.ntyo <br /> <br />Further, there is decided opposition to guaranteeing any- <br /> <br />thing in excess of thc amount whioh appears to be neoessary for <br /> <br />the needs of the lower states. 'I'aking the moasured flow for the <br /> <br />ten years, - tho lowest ten years for which we have a record, which <br /> <br />is the first ten years, - one half of that flow would amount, <br /> <br />roughly, to seventy-seven million acre feet. The span of twenty <br /> <br />years is, of course, very short and it is impossible to knew <br /> <br />that there will bo no lower flow in any subseQuent period. We <br /> <br />feel, therefore, that there sheuld be applied to those figures <br /> <br />a very considerable margin of safety. If we were asked merely <br /> <br />to divide the water, that would bo another thing, but we seem <br /> <br />to bo just now in the position of discussing a guaranty under <br /> <br />whieh the penalty for drouth,- tho penalty for a lack of water <br /> <br />in the river,-falls upon the upper states, and as we are parti- <br /> <br />oularly asked to guarantee against such a situation, consoQuently <br /> <br />91 <br /> <br />17th-S.P. <br />.3 <br />