GOVERNMENT GUARANTEES OF CREDIT 25-611 O 8--1 STANFORD HEARINGS BEFORE THE GOV JUN 1967 COMMITTEE ON BANKING AND CURRENCY EIGHTY-EIGHTH CONGRESS FIRST SESSION ON S. 2310 A BILL TO PROHIBIT ANY GUARANTY BY THE EXPORT-IMPORT NOVEMBER 20, 21, AND 22, 1963 Printed for the use of the Committee on Banking and Currency U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1963 HARRISON A. WILLIAMS, JR., New Jersey PETER H. DOMINICK, Colorado EDMUND S. MUSKIE, Maine EDWARD V. LONG, Missouri MAURINE B. NEUBERGER, Oregon THOMAS J. MCINTYRE, New Hampshire II MATTHEW HALE, Chief of Staff Hon. Karl E. Mundt, U.S. Senator, State of South Dakota_ Dr. G. Warren Nutter, professor and chairman of economics, University of Gerald Steibel, Research Institute of America, New York, N.Y. Hon. J. W. Fulbright, U.S. Senator, State of Arkansas.. Hon. George W. Ball, Acting Secretary of State___ Harold F. Linder, President and Chairman, Board of Directors, Export- Import Bank of Washington; accompanied by Walter C. Sauer, Vice Chairman, Board of Directors, Export-Import Bank of Washington____ Hon. Franklin D. Roosevelt, Jr., Acting Secretary of Commerce; accom- panied by Ernest Rubin, Director, Sino-Soviet Division; Forrest D. Hockersmith, Director, Office of Export Control; and Dean B. Lewis, Assistant General Counsel, Department of Commerce.. Samuel C. Waugh, former Chairman, Eximbank, Washington, D.C. Alfred W. Barth, executive vice president, Chase Manhattan Bank August Maffry, senior vice president, International Division, Irving Trust ALPHABETICAL LIST OF WITNESSES O'Halloran, John L., International Division, Manufacturers Hanover Trust Linder, Harold F., President and Chairman, Board of Directors, Export- Mundt, Hon. Karl E., U.S. Senator, State of South Dakota_ Nutter, Dr. G. Warren, professor and chairman of economics, University Ray, Philip A., Esq., San Francisco, Calif. Roosevelt, Hon. Franklin D., Jr., Acting Secretary of Commerce; accom- Page 162 232 35 67 216 201 72 215 243 Comment on sale of 150 million bushels of wheat to the Communist 78 American Farm Bureau Federation, Washington, D.C.: Telegram from 247 Attorney General's opinion concerning the application of certain Federal statutes to sales of U.S. wheat and other agricultural products to the Ball, Hon. George W., Acting Secretary of State: Memorandum entitled Bennett, Hon. Wallace F., U.S. Senator from the State of Utah: Articles from the Washington Evening Star of November 20, 1963: 142 Legislative history of the Export-Import Bank of Washington___ Commerce Department, 64th quarterly report, 2d quarter 1963, entitled 64 Table 2. Commodities licensed for Eastern Europe, second quarter, 255 259 Chart, U.S. trade with Eastern Europe, 1957-63- Continental Illinois National Bank & Trust Co. of Chicago, Chicago, Ill.: Dillon, Hon. Douglas, Secretary of the Treasury: Agriculture Department 237 78 222 Export-Import Bank of Washington: Credits authorized, $10 million and over, for fiscal year 1964 (through Fulbright, Hon. J. W., U.S. Senator from the State of Arkansas: The Export-Import Bank and the sale of wheat to the Soviet Union. House Banking and Currency Committee, Subcommittee No. 3: Hearings Letter to the President of the Senate and the Speaker of the House Kintner, Dr. William R., deputy director, Foreign Policy Research Insti- tute, University of Pennsylvania___ Leaf Tobacco Exporters Association, Richmond, Va.: Telegram from Morse, Hon. Wayne, U.S. Senator from the State of Oregon, statement entitled, "American Taypayers Should Not Subsidize Sale of Wheat to Mundt, Hon. Karl E., U.S. Senator from the State of South Dakota: Excerpt from Ambassador George Kennan's "Russia and the West"- "Wheat Sales To Aid Balance of Payments": Article by Sylvia Foreign Assistance Act of 1961, section 620(f) Ray, Philip A., Esq., San Francisco, Calif.: Article entitled, "U.S. Wheat for Russia on Credit-Plan To Guarantee Dealers Against Loss Viewed as New Soviet-United States Trade Policy," by David Lawrence... – Robertson, Hon. A. Willis, U.S. Senator from the State of Virginia: Statement by Dr. William R. Kintner, deputy director, Foreign Wells Fargo Bank, San Francisco, Calif.: Telegram from W. J. Gilstrap, 92 25 99 247 39 222 48 58 246 209 117 98 |