136 
AGRICULTURAL RELIEF 
Mr. Fort. I agree with you on that, but it would also be difficult 
for the board to determine anything of that sort under the Haugen 
bill. It would be just as difficult under one bill as the other, would 
it not? 
Mr. Kivcore. Well, I think it might; and I am wondering if we 
could not simplify the situation by this—that is, possibly this is what 
is in your mind; this is what is in my mind. I stated that my thought 
about the loan bills was that the board would begin to operate at a 
lower point—— 
Mr. Fort. I know you did. 
Mr. KiLGorE (continuing). Than they would under the McN ary- 
Haugen bill. I am wondering if the thought that you have is— 
would not the board begin to operate more nearly at the cost of 
production price, say, with cotton, under the McNary-Haugen bill 
than it would under the loan bill. 
Mr. Fort. No; I am not wondering that. I ask you this specific 
question—I will put it this way. Would you favor operations under 
the Haugen bill if you were on the board, beginning purchases above 
a price which you believed to be the cost of production plus a reason- 
able profit to efficient producers? 
Mr. KiLgorE. I do not think the board under the McNary- 
Haugen bill would begin to operate above the cost of production, 
but at some point under the cost of production. 
Mr. Fort. Then the power exists under the Crisp bill to begin 
operations just where you think that the Haugen bill board would 
begin operating, does it not? 
Mr. Kincore. I think that might be possible. 
Mr. Fort. I am just asking you. The power is there. 
Mr. KirLgore. I think under the particular provision that you are 
speaking of; yes. But if we go to the other two provisions—— 
Mr. Fort. All right. We will come to those later. We are talking 
purchases only now. 
Mr. KiLGorE. Yes; but the provision I am referring to is for 
purchasing, too. 
Mr. Fort. Well, I am coming to that one later. I say that the 
same power is in the board to buy at the same price that you think 
would be proper to buy under the Haugen bill. 
Mr. KiLgorg. I think the power would be there: but I do not 
think they would do it. 
Mr. Fort. That is another question. We are coming to that later. 
However, we are operating with the same individuals on the board, 
are we not, and presumably with the same amount of a revolving 
fund, are we not? 
Mr. KiLgorE. Yes, sir. 
Mr. Fort. If the board did use this identical revolving fund for 
purchases at the same point that it utilized the revolving fund under 
the Haugen bill, wherein would there be any difference to the 
producer? 
Mr. KiLcore. The first year’s operations I think there would not 
be any difference. But if in that first year there had been losses of 
money which the Crisp or the loan bill says must be handled so that 
there will not be losses but that there will be profits. 
Mr. Fort. It does not say must; it says every effort must be used 
to prevent losses.