This conclusion stems from three basic factors: the magnitude of assistance to Israel from non-U.S. resources; the ability of the United States to meet Israel's most pressing needs without recourse to special assistance; and, most important, Israel's remarkable response to the challenges which it has faced. The situation of Israel will, of course, be kept under constant scrutiny. Should the Israeli economic situation materially worsen, the decision with respect to forms of assistance would have to be reconsidered in the light of total resources available. The proposed contingency fund would be available to provide resources to enable the extension of assistance to Israel. Consideration will also be given to the request made by Mr. Fulton that the needs of the new Government of Cyprus be subjected to careful analysis and that possible requests for assistance by that Government be given attention. Such assistance, if it should prove to be desirable and necessary, could also have its origin in the contingency fund. Chairman MORGAN. Dr. Judd. Mr. JUDD. One more point on the investment guaranties. You said $400 million worth has now been issued. What is the amount outstanding at the present time? Mr. SACCIO. We will give you the exact amount. I think it is about $350 million. Mr. JUDD. Your total authorization is $500 million? Mr. SACCIO. Yes. Mr. JUDD. You are asking for an increase? Mr. SACCIO. To $1 billion. Chairman MORGAN. Thank you very much, Mr. Saccio. The committee stands adjourned until April 7. (Whereupon, at 1:15 p.m., the committee adjourned, to reconvene Tuesday, April 7, 1959.) HEARINGS BEFORE THE UNIVERSIT OF MICHIGAN JUN 2 - 1959 MAIN READING ROOM COMMITTEE ON FOREIGN AFFAIRS EIGHTY-SIXTH CONGRESS FIRST SESSION ON DRAFT LEGISLATION TO AMEND FURTHER THE MUTUAL FOR OTHER PURPOSES 38361 APRIL 7, 8, 9, 10, 1959 PART II Printed for the use of the Committee on Foreign Affairs UNITED STATES WASHINGTON: 1959 COMMITTEE ON FOREIGN AFFAIRS THOMAS E. MORGAN, Pennsylvania, Chairman A. S. J. CARNAHAN, Missouri EDNA F. KELLY, New York WAYNE L. HAYS, Ohio ARMISTEAD I. SELDEN, JR., Alabama J. L. PILCHER, Georgia BARRATT O'HARA, Illinois L. H. FOUNTAIN, North Carolina LEONARD FARBSTEIN, New York CHARLES C. DIGGS, JR., Michigan LINDLEY BECKWORTH, Texas HARRIS B. MCDOWELL, JR., Delaware WILLIAM T. MURPHY, Illinois WILLIAM H. MEYER, Vermont CORNELIUS E. GALLAGHER, New Jersey CHESTER BOWLES, Connecticut ROBERT B. CHIPERFIELD, Illinois CHESTER E. MERROW, New Hampshire JAMES G. FULTON, Pennsylvania DONALD L. JACKSON, California MARGUERITE STITT CHURCH, Illinois E. ROSS ADAIR, Indiana ALVIN M. BENTLEY, Michigan LAURENCE CURTIS, Massachusetts STUYVESANT WAINWRIGHT, New York BOYD CRAWFORD, Staff Administrator Lechliter, Irvin, executive director, American Veterans Committee_ Ruebhausen, Mrs. Oscar M., League of Women Voters--- 324 Stone, Dr. Donald C., National Council of Churches in the United 281 Claxton, P. P., Deputy Assistant Secretary of State for Congressional 398 Grant, James P., Deputy Director for Program and Planning, Inter- Holcombe, John L., Director, Office of Programing and Control, Of- fice of Assistant Secretary of Defense for International Security 385 Murphy, John, Assistant Deputy Director-Controller, International 418 Shuff, Charles, Deputy Assistant Secretary for Military Assistance Programs, Office of Assistant Secretary of Defense for International Grantham, Rear Adm. E. B., Jr., Director, Near East, South Asia, and Africa Region, Office of the Assistant Secretary of Defense for Satterthwaite, Hon. Joseph C., Assistant Secretary of State for 487 Van Dyke, Regional Director, African and European Operations, Inter- 494 STATEMENTS AND MEMORANDUMS SUBMITTED FOR THE RECORD Statement submitted by ICA on Public Law 480 and its relationship to the 322 Memorandum submitted by ICA concerning reexport of surplus commod- ities sold for foreign currency under Public Law 480 or under section 402 Memorandum submitted by ICA concerning triangular trade programs involving the disposal of surplus agricultural commodities_‒‒‒‒‒‒ 411-412 Information supplied by Gen. Lauris Norstad on British press coverage and |