610 AGRICULTURAL RELIEF
when away from principal office on official business, said office to be located in
Washington, District of Columbia.

(b) Four of the members of said board to be appointed by the President shall
be designated by him to serve for two years, four for four years, and four for six
years, and thereafter each member so appointed shall serve for a term of six
years, unless sooner removed for cause by the President. In case of vacancy
in said board by death, resignation, or otherwise, the President of the United
States, by and with the advice and consent of the Senate, shall appoint a suc-
cessor to fill out the unexpired term. Any member in office at the expiration
of the term for which he was appointed may continue in office until his successor
qualifies and takes office.

(3) No person shall be eligible for appointment as a member of said board
who is not well advised in methods of production and marketing the leading
agricultural products in the district from which he is appointed, and he shall
have been engaged in the production or marketing of one or more of the crops
grown or produced in the district from which he is appointed at least five years
prior to and at the time of his appointment. No member of said board shall,
during his continuance in office, be an officer or director in any cooperative associa-
tion, or in any other institution, firm, or organization engaged in holding or
marketing any of the crops or livestock named or in any way referred to herein,
or the products thereof, and before entering upon his duties as a member of said
board each member shall certify under oath to the President of the United States
that he is eligible under this section. The President shall designate one of said
members as commissioner, who shall be the active executive officer of said board.

(d) The salaries and expenses of the farm surplus board and all employees
employed therein shall be paid by the United States, and said board is authorized
and empowered to fix salaries and employ attorneys, accountants, experts,
assistants, clerks, and other employees necessary to carry on the business of
said board, the same to be appointed in accordance with the classification act
of 1923 and subject to the provisions of the civil service law.

(e) It shall be unlawful for any member of said board or any employee therein
to furnish or give any person, firm, or corporation confidential or advance informa-
tion relative to any of the activities of the board; or to purchase or sell for future
delivery on any exchange any or either of the commodities handled or that
may be handled through the operations of said board, and any such person or
persons being found guilty of violating this provision of this act shall be subject
to a fine not exceeding $10,000, or imprisonment for a period of not exceeding
ten years, or both.

Sec. 4. (a) That for the purpose of carrying out the provisions of this act it is
provided that the board herein provided for shall keep advised by investigation,
from time to time, made upon its own initiative or petition of an approved farm
organization or cooperative association, as to the domestic and world require-
ments, prices, the existence of a surplus or probable surplus of any nonperishable
farm crop, including livestock, or the products thereof.

(b) Whenever the board finds that there is or may be in the hands or possession
of producers during the ensuing year a substantial surplus above the normal
domestic or world requirements of any nonperishable farm crop or product
thereof within the United States, said board is hereby authorized, upon the
request of the organized producers of such crop, to avail itself of any provision
or provisions of the Federal reserve act, the intermediate credit bank act, the
Federal warehouse act, or any other act of Congress, not inconsistent with the
provisions of this act, and arrange for financing or otherwise aiding such organized
producers in removing from the market and storing under any approved ware-
house system any such farm crop or crops to the extent of the estimated surplus
of such crop or crops. That the advances so made or provided for under this
section shall be on the basis of the market value of such crop at the time of
purchase, storage, or removal of same from the market.

Sec. 5. (a) That the board is further permitted and authorized, upon such
terms and conditions as it may prescribe, not inconsistent with this act, to make
such advances or loans out of the revolving fund, hereinafter provided for, to
any approved cooperative association or farm organization of producers engaged
in purchasing, holding, marketing, or storing any nonperishable farm crop or
commodity: Provided, That no advance or advances under the provisions of this
act shall be made to any person, organization, or association whatsoever when the
ensuing production of such crop or commodity shows an increase in planting or
breeding according to the estimates of the United States Department of Agri-
culture over and above the five-vear average immediately prior thereto: Provided