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<br />~.JVU. <br /> <br />MR. STAPLETON: <br /> <br />MR. SLIZESKI: <br /> <br />HR. STAPLETON: <br /> <br />MR. SLIZESKI: <br /> <br />MR. STAPLETON: <br /> <br />HR. SPARKS: <br /> <br />MR. SLIZESKI: <br /> <br />"So we are talking about 1969, late 1968 <br />at the best?" <br /> <br />"Right. Now I'd like to amplify on that <br />a little bit. In the light of the national <br />program (I don't want to qualify it too much) I <br />but you probably understand we are obliged to . <br />follow the inter-agency agreement resource <br />development - flood control and resource devel- <br />opment. Basically this is developed by the <br />Bureau of the Budget and Harvard University <br />economists. It is commonly kno~m among econo- <br />mists as the price-theory of resource alloca- <br />tion or micro-econo,ics as 9Pposed to macro- <br />economics which is the full employment theory." <br /> <br />"You've just lost me, but go ahead." <br /> <br />"It is really not too important. The <br />point I'm getting to is that presently, under <br />national rules, we are required to present <br />plans to Congress which optimise river basin <br />development. In other words, the most for <br />your money, to put it simply; or the most for <br />the taxpayers' money in terms of resource <br />development and in terms of flood control. In <br />this respect, in connection with Chatfield <br />there ",ould be some thought about some water <br />resource development there. <br /> <br />We would, of course, accelerate this type <br />of engineering planning as well, but I would <br />"lant to ''1arn you that if it became evident that <br />this "'as not the most for the ta~:payers' dollar, <br />there would be some delay in construction of <br />Chatfield. " <br /> <br />"Does anybody else, Pat or Felix, want to. <br />comment at this point before "'e ask the next <br />question?" <br /> <br />I <br /> <br />"I think what Joe is trying to state here, <br />is that we should find some water for this <br />dam~1I <br /> <br />"Not necessarily 'find' water. We know <br />