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AGRICULTURAL RELIEF
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Mr. Apxins. I think I get your idea, and I think the record will
show that. That is all I have, Mr. Chairman.

Mr. KercaaMm. Mr. Anderson, just one question: Suppose this bill
is set up and the board has been appointed, and your organization
has been called into conference with that board to consider the propo-
sition of being the door whereby the distribution of surpluses shall
be made, and you are made the agent of that organization to write
the contract. I suppose you would have due regard for all the con-
tingencies that might arise, all the risks that might be assumed, and
after everything that would be conceived had been conceived and
incorporated in that contract, you probably would have a margin of
profit there, would you not? You would rather require that; you
would expect it, would you not? I

Mr. AnpersoN. Well, most people do.

Mr. Kercaam. And before you would agree to assume that respon-
sibility, very naturally you would expect the board to out their
names on the dotted line?

Mr. ANDERSON. Yes.

Mr. Kercaam. And ask the Government agency to guarantee you
against losses; that is to say, as a good business man you would
figure those contingencies all out very carefully, would you not?

Mr. ANDERSON. We could not afford to do business on any other
basis.

Mr. Kercaam. Would you not rather be liberal in your attitude
in regard to contingencies in view of the fact that this is rather an
uncertain proposition?

Mr. AxpErsoN. Well, Mr. Ketcham, not necessarily so.

Mr. Kercaam. What I am getting at is this, Mr. Anderson, if you
will just permit me: If we are going to set up this new instrumentality
and you were to be one of the cogs in it, you are going to be as certain
as a shrewd business man can be that there is a guarantee that your
business is going to be maintained and a reasonable profit come to the
Sarkho des ; you are going to do that, are you not? Would not that

e fair?

Mr. AnpersoN. That would be a fair proposition, I would think.

Mr. Kercaam. Then, the point I am getting at is this, does it not
actually, by reason of the fact that this board finds this contract
if you accept it as the instrumentality of the Government, are you
not protected as a business man against loss, and are you not to be
guaranteed if you take that contract a reasonable profit?

Mr. AnpErsoN. I would think that is an inevitable result.

Mr. Fuoumer. If you cut the equalization fee out, Mr. Ketcham,
would it not be the same proposition, with the loan fund, if you go
into the same transaction that would not have anything to do with
the equalization fee? :

Mr. Kercuam. I have no loan fund in my bill.

Mr. AxpeErsoN. Mr. Chairman——

The CuairmaN. Mr. Anderson, just a few minutes ago, when the
gentleman, Mr. Adkins, was asking his questions, I gathered from
your remarks that you are more concerned about this bill because of
the interference it might have with your people rather than the
squilization fee?

Mr. ANpErsoN. I am concerned about it because I do not think it
will work