You have the early hydrostatic PS. It has a flow control valve, a piloted slave valve, and a two port directional control valve on the steering shaft.
You can get rid of the last two items and replace them with a four port "hand pump" found on later tractors. I did something similar on a 8000lb Clark forklift. It has its own PS pump from the factory. Works great. I got a brand new four port "hand pump" on eBay for $125. Surplus Sales, Lincoln, NE, has them at a higher price.
I have a 504 that didn't have PS. I put a Char-lynn torque generator down where the steering shaft enters the bolster. IH had the same system but placed the TG below the steering wheel. If you don't want to break into the hydraulic plumbing, install a A or C (or later) hydraulic pump on the engine. It's a bolt-on with your engine. A little bit of the right frame rail has to be ground away.
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