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long lasting economic improvement in these has authorized for sale. What would this As a company vitally involved in the Soviet rural areas."

deal mean to our wheat economy in particu- transactions, Cargill properly refuses to comStarting this fall, 9 U.S. Soil Conservation lar and the U.S. economy in general?

ment on the wheat decision or its enormous Service specialists and 24 junior techni Far, far more than most Americans realize, political implications. But, says Mr. Kelm cians furnished by the private international says Erwin E. Kelm, president of Cargill, Inc., flatly, “the economics of the sales are voluntary service agencies will live and work of Minneapolis, largest grain merchant in sound”—and he's certainly documenting his under contract on project sites. In addi- this country and the corporation which view. tion, the United States will supply hand made the first sale of 100,000 tons of wheat tools, some equipment and 42,000 tons of to Hungary last Friday. In fact, some of

WHEAT TO RUSSIA surplus food.

the economic benefits which Mr. Kelm sees The annual cost to the United States, stemming directly from these sales well

(Statement by Senator CARLSON, October 8,

1963) aside from the food, is estimated at slightly may startle even top experts on wheat and more than $1 million. Most of the money foreign trade. Specifically:

Russia's purchase of 239 million bushels of will be spent in the United States.

Benefit: While this one deal would in

wheat from Canada for $500 million, with a The overall direction is under a special crease our total wheat exports over 1962 by delivery date of next July 31, and her purAlgerian central authority responsible to less than 28 percent, it would more than

chase of 581/2 million bushels of wheat from the Algerian Labor Ministry. The ministry double our dollar sales of wheat compared Australia, valued at $90 million is of concern will pay the workers' wages, except for the with last year.

to every U.S. wheatgrower from the standU.S. food.

Explanation: In recent years 70 to 75 per- point of future export markets. The workers' cash wages have been the cent of all our wheat exports have been

With this sale, Canada has sold practically subject of United States-Algerian negotia so-called giveaway sales. We have been her entire surplus from the 1963 crop. The tions for more than 6 months, since Premier selling wheat through normal commercial temptation, of course, will be for the CanaAhmed Ben Bella agreed in principle to channels to foreign buyers, but permitting dians to increase their wheat production for the U.S. plan. the countries to pay for their purchases in

future sales not only to Russia, but other Some Algerians wanted the United States their own soft currencies.

countries that need wheat and this means to provide cash as well as food. On a 60 Our Government has been accepting these

further competition for us. cent daily wage basis, this would have soft currencies—of such underdeveloped

The last session of Congress spent months meant a cash outlay of more than $6 million countries as India, Pakistan, Indonesia-and

writing foreign trade legislation and I believe a year. The request was turned down in then has been paying the U.S. exporters in every realist must agree that despite its Washington. dollars.

idealistic approach to world trade our expeOTHER FOOD AID CONTINUES "The true value of the soft currencies our rience-which is limited-must convince

everyone that trade between nations must be U.S. assistance in the form of surplus food Government has accumulated from these

realistic and practical. World trade is not continues to help feed about 2,500,000 needy concessional sales probably amounts to only 12 to 15 cents on the dollar,” Mr. Kelm

only competitive, but it is a cold, calculated Algerians, about a fourth the population, believes.

business operation.
Last March the number reached 4 million.
An agreement is near on the continuation
But the wheat being sold to Russia and

Russia and Canada are our real competitors of such help to be handled by Care-Medico, the Soviet bloc is to be paid for in gold

in the world trade of wheat. We have never and hard cash. The sale of 4 million long

sold wheat to Russia, as her wheat trade has Inc., a private agency, using U.S. Government wheat, vegetable oil and dried milk. tons would increase our dollar earnings from

always been on the export side of the market. A labor ministry census has reduced the wheat by over $250 million more than 100

Selling wheat behind the Iron Curtain can percent above 1962's earnings. number expected to be hard-core needy re

be an American opportunity to improve our Benefit: This $250 million increase in our

position in the cold war. It can also be an cipients by this fall to 1,300,000. A third surplus food program on which dollar earnings would slash the gap between

immediate financial gain, in view of our bal

ance of payments. an accord is near is a government-to-govern- what we earn abroad and what we spend

Russia's original arrangement for payment ment arrangement under which the United abroad by at least 10 percent—thereby sigStates will provide wheat for the Algerian nificantly reducing the dangerous deficit in

to Canada for wheat purchased was based on Labor Ministry to use for its own food-forour balance of payments.

a credit term of 18 months, the first 25 perwages program without U.S. technical as Explanation: This deficit is now running

cent to be paid in gold. Now we are advised sistance. at an annual rate of $2 billion, down from

that Russia will pay the entire amount in About 300,000 jobless Algerians are to be the near-catastrophic rate of earlier this year,

gold immediately on delivery. employed under this all-Algerian plan. The but still large enough to pose a relentless

Our Nation lost $423 million worth of gold remaining 500,000 jobless Algerians are ex threat to our dollar. The benefit of an in

from January 1 to August 31, 1963. Our gold pected by labor ministry officials to be ab crease in our dollar earnings of $250 million

reserve has dropped from $24 billion in 1954

to $15.7 billion in 1963. sorbed in a general economic recovery. is obvious. Western observers regard this prediction as Benefit: This one sale would radically

There are some who will argue that the optimistic. change our entire domestic wheat picture

sale of wheat to Russia strengthens commuvirtually eliminate our wheat surplus and

nism, but the facts are that Russia is secur

ing not only foodstuffs, but industrial prod[From the Washington (D.C.) Post, Nov. 5, actually reduce our reserve to only a pru

ucts from our allies in ever increasing dent level. 1963)

quantities. For instance, statistics for 1962 Explanation: The Department of AgriRUSSIA, ALGERIA SIGN TRADE PACT

show that West Germany trade agreements culture just predicted that on next June LONDON, November 5.-Moscow radio today 30, our wheat carryover will be no more

with Russia alone totaled about $700 million. announced a major long-term trade agree

Germany is now the third largest industrial than 725 million bushels, “a scant 125 ment between the Soviet Union and Algeria, million bushels over what

nation in the world. Italy has a 4-year

the Departbased on exchange of Soviet heavy equip- ment considers a prudent reserve,” says Mr.

trade agreement with the Soviets for $1.11 ment and arms for Algerian food.

billion worth of goods. France has signed Kelm. The Cargill president believes PresiThe radio said that under the agreement dent Kennedy's 4-million-ton ceiling on Rus

a 3-year trade pact with Russia for $100 milsigned in Algiers yesterday the Soviet Union

lion in trade. India has a 4-year trade pact sian sales "reflects a concern that our stocks will send Algeria ships, arms, trucks, farm might suddenly be reduced below the level

with Russia which provides annual trade of machines, and other capital equipment, as of a safe reserve.”

$440 million. Japan has a 3-year trade pact well as timber, paper, oil products and chem

with Russia that calls for $365 million. The

Benefit: The export of this wheat would icals.

United States and Russian trade last year allow a cut in our domestic budget spending Algeria will export to the Soviet Union of around $225 million this fiscal year and of

was $16 million each way. citrus fruits, dates, wheat, olive oil, flour, another $30 million in the next fiscal year.

I am not advocating the sale of strategic wine, alcohol, fruit juices, hides and other

materials to Russia, but I do urge that our traditional exports.

Explanation: As the Government's wheat

Nation give every consideration to expanding surplus disappears, the costs of storing the

our foreign trade with Russia and her satelMr. MILLER. Mr. President, I yield grain will shrink.

lites in nonstrategic items. We are now sellthe floor.

Benefit: The elimination of the wheat sur ing wheat to Germany, France, and other EXHIBIT 1 plus and the present high world prices for

European countries. Much of this wheat is wheat will give us an extraordinary opporBENEFITS CITED IN WHEAT SALE

processed into flour and foodstuffs by these tunity to work out a reasonable program to countries and then sold to Russia, therefore, (By Sylvia Porter) solve our chronic wheat problem.

Russia gets our wheat whether we sell it to Now that the ground rules finally have Explanation: Not in years have we had so them or not. been set for sales and shipments of U.S. favorable a surplus-price background against Some are of the opinion that we should not wheat to the Soviet bloc, let's assume the which to agree on a transition program ac sell wheat to Russia at a subsidized price. Kremlin follows through and buys the limit ceptable to all of us—wheat producers, con- The facts are we do not export any wheat of 4 million long tons President Kennedy sumers, taxpayers.

in the world market through dollar sales

or Public Law 480 that does not carry a Mr. MANSFIELD. No, Mr. President, operates in handling such applications subsidy. This is true whether we sell to either that day or the next day—that as commercial transactions on a guaransuch Communist countries as Poland, Yugo- Monday, the 25th, or Tuesday, the 26th.

Monday, the 25th, or Tuesday, the 26th. teed basis. At that meeting it was sugslavia, or our allies. The present subsidy is about 55 cents per bushel.

Mr. MUNDT. I stand corrected- gested that perhaps the Chairman of the The subsidy does not go to the exporter either the 25th or the 26th.

Export-Import Bank might confer with or to the country that buys the wheat. It In conjunction with this understand- us. Pursuant to that, I had a session goes to the American wheat farmer in order ing, an agreement has been developed with the majority leader; and a dozen to maintain domestic prices above the world with the Export-Import Bank that it will Senators met in his office. The Exportmarket.

not make any new credits available to Import Bank and the Treasury had repAt the present time Russia and her satel

Communist countries in connection with resentatives present. We had an opporlites, such as Hungary, Czechoslovakia, East trade in grain or any other product un- tunity to canvass the authority and the market for wheat. In my opinion, it is in til such time as the Senate has com- capacity of the Export-Import Bank in our Nation's interests, from both a financial pleted its action on whatever recom- this field. More than that, we had an and a humanitarian standpoint, to sell this mendations come to it from the Bank- opportunity to explore its operations, its grain. Increased exports of wheat from the ing and Currency Committee.

losses, its gains, and exactly how it would United States at the present time would not Mr. YOUNG of North Dakota. Mr. process applications of this kind. only aid in reducing our surplus, but would President, will the Senator from South After a thoroughgoing discussion, we also improve our balance of payments, Dakota yield?

thought perhaps we should satisfy the strengthen domestic wheat prices, reduce the

Mr. MUNDT. I yield.

legislative process by having at least a taxpayer's carrying cost of our present surplus, and be the humanitarian thing to do this include all industrial products?

Mr. YOUNG of North Dakota. Does few hearings on this proposal-conso

nant, of course, with the desires of the as well as have an important bearing on our foreign policy.

Mr. MUNDT. My bill includes all distinguished Senator from South Daproducts.

kota. Mr. DIRKSEN obtained the floor.

Mr. MANSFIELD. Mr. President, will That was arranged; and now he proMr. DIRKSEN. Mr. President, I yield the Senator from South Dakota yield? poses to offer his amended amendmentto the distinguished Senator from South

Mr. MUNDT. I yield.

which includes not only grain, but also Dakota [Mr. MUNDT).

Mr. MANSFIELD. Mr. President, a all commoditiesMr. MUNDT. Mr. President, we have meeting was held in my office, which was Mr. MUNDT. And that is the form in been in conference part of the morning attended by 12 or 14 Senators of both which the bill has now been referred to and a good bit of the noon hour, in con- parties, this morning and into this af- the committee. nection with the amendment before the ternoon.

ternoon. There were present repre Mr. DIRKSEN. That is correct-and Senate, which was debated last night.

sentatives of the Export-Import Bank with instruction that it report at the I believe that through the processes and the Treasury Department, at our earliest possible date, and, hopefully, not of conciliation, compromise, and consul- request; and we tried to reach, through later than November 25. If that can take tation, we have arrived at a program of a process of accommodation, a reason- place, the order for the yeas and nays procedure which will be satisfactory to able solution of the pending proposal. can be rescinded, the amendment can be Members on both sides of this issue, and I was not in favor of it, and I am not in withdrawn, we can obtain some testiwill permit the Senate to continue with favor of it, because it creates a situa- mony from sources both in the Governconsideration of the foreign aid bill, tion which could be used to undermine ment and out of the Government, and without further debate on this point. the pinnings of the Executive. But I then we can have the subject matter be

As the first step in this connection, I will go along with it, and I will support fore us; and, as a result, I think we shall introduce and send to the desk a bill, it, and I will do the best I can along the be better equipped to deal with it. and request that it be read, for the in- lines unanimously arrived at, by the Mr. MANSFIELD. Mr. President, a formation of the Senate.

Senators of both parties who were pres- parliamentary inquiry. The PRESIDING OFFICER. The bill ent this morning and this afternoon at The PRESIDING OFFICER. The will be received and appropriately re the conference.

Senator will state it. ferred, and will be read.

I have talked with the chairman of Mr. MANSFIELD. Has the bill been The bill (S. 2310) to prohibit any the Banking and Currency Committee, to introduced? guarantee by the Export-Import Bank or which I assume this legislative proposal The PRESIDING OFFICER. The bill any other agency of the Government of will be referred. He has assured me has been introduced. payment of obligations of Communist that he will strictly adhere to the wishes Mr. MANSFIELD. Has it been recountries, was read the first time by its of the Senate. The Senator from Vir- ferred? title, and the second time at length, as ginia [Mr. ROBERTSON] is a man of his The PRESIDING OFFICER. No. follows:

word, regardless of his personal feelings Mr. MANSFIELD. To what commitBe it enacted by the Senate and House of about any piece of proposed legislation. tee will the bill be referred? Representatives of the United States of Of course, it is anticipated—and I hope The PRESIDING OFFICER. At the America in Congress assembled, That, neither it will be made the will of the Senate - present moment it would appear that the Export-Import Bank nor any other agen- that the bill will be reported to the the bill will be referred to the Commitcy of the Government shall guarantee the Senate by a week from Monday, Novem- tee on Banking and Currency. payment of any obligation heretofore or

ber 25; and both the majority leader and Mr. MANSFIELD. Will the bill be re'hereafter incurred by any Communist coun

the minority leader give the Senate their ferred to the Committee on Banking and try (as defined in section 620(f) of the Foreign Assistance Act of 1961) or any agency

assurance that it will be brought up Currency? or national thereof, or in any other way par- either that day or the next day, for im The PRESIDING OFFICER. The ticipate in the extension of credit to any mediate consideration.

Chair rules that it will be unless some such country, agency, or national, in con In brief, I believe that covers the re- question is raised on the floor of the nection with the purchase of any product sults of our participation in the meeting enate. by such country, agency, or national. this morning.

Mr. MANSFIELD. Mr. President, Mr. MUNDT. Mr. President, if we can Mr. DIRKSEN. Mr. President, there since the procedure has gone that far, have the cooperation of Senators, I pro- was a meeting early this morning, and at I ask unanimous consent that the Compose to work out an agreement and a that meeting I suggested that since there mittee on Banking and Currency be dilegislative program whereby this bill had been no hearings on the proposal rected to report back to the Senate with will be referred to the Banking and offered by the distinguished Senator from its finding on the bill not later than a Currency Committee, with instructions South Dakota [Mr. MUNDT), I, for one, week from Monday, November 25. from the Senate to report the bill to hoped that perhaps we could learn a Mr. JAVITS. Mr. President, reservthe Senate on November 25, and with little more about the mechanics of the ing the right to object—and I shall not assurance from the majority leader and operations of the Export-Import Bank object the minority leader that it will then be in processing foreign applications of this Mr. MANSFIELD. Let us get the called up on the following Monday. kind, and exactly how it works when it agreement to the request.

Mr. JAVITS. May I ask a question Mr. CLARK. I certainly withdraw the Mr. MANSFIELD. No, no; I refer to before the agreement is made? The Sen- imputation. I make only the comment what the outcome of a yote would be. ator has asked for unanimous consent. that in my opinion it might be wiser if I believe there is a question of grave I am a member of the Committee on the leadership would interfere a little doubt there. As far as the subject of Banking and Currency. I believe I am more than it does. This must be a ques- witnesses is concerned, it is anticipated entitled to have a question answered. tion of judgment for the leadership. The that the Secretary of State, the Secre

Mr. MANSFIELD. There is no ques- Senator from Montana and I do not have tary of the Treasury, the officers of the tion about that. The Senator said that the same views on that question.

Export-Import Bank, and others would he would not object, and I merely sug Mr. MANSFIELD. No, but we have be called before the committee. gested that the agreement be entered committees.

I intended to refer to another portion and then the Senator from New York Mr. DIRKSEN. Mr. President, will the of the Senator's statement, but I have might ask any question he wishes. Senator yield?

forgotten what it was. Mr. JAVITS. Will the Senator al Mr. MANSFIELD. I yield.

Mr. CLARK. I have practically forlow me to ask one question?

Mr. DIRKSEN. The leadership has no gotten what I was going to say, too. Mr. MANSFIELD. Certainly.

authority over subcommittees. That is All I can say to the majority leader is Mr. JAVITS. Is there anything in an intracommittee question that must be that, so far as I am concerned, I am the agreement that would bind the Com- resolved within the committee.

prepared to cooperate wholeheartedly. mittee on Banking and Currency, not as Mr. CLARK. It is a question of the Mr. MANSFIELD. I recall what I into the time at which it would report, but function of the leadership. I happen totended to say. I ask the Senator from as to what it would report?

disagree with the Senator from Illinois Pennsylvania to take my word as to why Mr. MANSFIELD. No.

on the question of the function of there is a reason for the bill to be conMr. JAVITS. That is all. leadership.

sidered and reported not later than the Mr. DOMINICK. Mr. President, re Mr. MANSFIELD. If the Senator 25th of this month. serving the right to object, as the rank- from Pennsylvania desires the leader Mr. CLARK. I shall take the word of ing Republican member of the Subcom- ship to function in the manner in which my friend the Senator from Montana. mittee on International Finance of the he proposes, he had better give the So far as I am concerned, the committee Banking and Currency Committee, I leadership some authority, because we do procedure can be any way the chairman should like to ask one question, at least, not have that authority now—98 Sena- and the ranking Democratic and Repubabout the proposed timing. Some of us tors in this body have more authority lican members of the committee wish it may be tied up on the 25th or 26th of in their own hands than the 2 so-called to be. I shall reserve my right as chairNovember on other subjects. Is it im- leaders have. I think the Senator from man of the subcommittee to have a good perative that the discussion of the bill Pennsylvania knows that.

deal to say about the bill. be brought out on the floor on those Mr. CLARK. Mr. President, will the Mr. SPARKMAN. Mr. President, will days? Senator yield?

the Senator yield to me? Mr. MANSFIELD. In the opinion of Mr. MANSFIELD. I yield.

Mr. MANSFIELD. I promised first to the leadership it is. The Senator will Mr. CLARK. As the Senator from yield to the Senator from Texas. have to take our word for it. Montana well knows, I have been trying

Mr. TOWER. My question was covMr. CLARK. Mr. President, will the to get the leadership more authority ered by the colloquy between the SenaSenator yield?

during the 7 years I have been serving tor from Montana and the Senator from Mr. TOWER. Mr. President, resery in the Senate. Since the year 1961 I

Pennsylvania. ing the right to objecthave been conspicuously unsuccessful.

Mr. SPARKMAN. Mr. President, the Mr. MANSFIELD. Mr. President, I Mr. Leader—this is all in good fun first yield to the Senator from Pennsyl Mr. DIRKSEN. I am glad the Senator chairman of our committee, the Senator

from Virginia [Mr. ROBERTSON), is not in vania. is not angry.

the Chamber at the present time. HowMr. CLARK. Mr. President, I believe Mr. MANSFIELD. But truthful. that we ought to clarify a couple of ques Mr. CLARK. I should like to ask the ever, the Senator from Pennsylvania may tions of procedure. I am the chairman leadership the following question.

not know that the majority leader has I

talked with the Senator from Virginia. of the Subcommittee on International Fi- wish the Senator from Virginia [Mr.

I assume that they discussed the pronance of the Committee on Banking and ROBERTSON] were present in the ChamCurrency. That subcommittee ordinar- ber. Perhaps the Senator from Alabama posed time limitation.

Mr. MANSFIELD. Only the time limily has jurisdiction over questions affect- [Mr. SPARKMAN), who is the ranking

itation. ing the Export-Import Bank. I do not Democratic member of that committee,

Mr. SPARKMAN. In the discussion know, because I do not see the chairman will be able to answer the question. As of the full committee present in the the chairman of the Subcommittee on this morning at which the question was Chamber, whether it will be his intention International Finance, I am of the view worked up, I believe everyone present or whether it is the intention of the lead that it does not make too much differ- understood that we would have the offiership to bypass the normal reference ence whether the matter is considered in cials of the Export-Import Bank, the to a subcommittee in order that the full a subcommittee or by the full committee. Secretary of the Treasury, and the Seccommittee, because of the time factor, Before the bill is reported to the Sen- retary of State appear as witnesses. should consider the Mundt amendment. ate, we should have a hearing. We I believe the Senator from South Da

Mr. MANSFIELD. Mr. President, will ought to call the Chairman of the Ex- kota [Mr. MUNDT] was suggested. the Senator permit me to interrupt? port-Import Bank, and perhaps we Mr. MANSFIELD. Yes. Mr. CLARK. Surely.

ought to call as a witness the Secretary Mr. SPARKMAN. Yes, certainly. I Mr. MANSFIELD. I am sure the Sen- of State.

think we can finish consideration of the ator did not mean, and would wish to Mr. MANSFIELD. Such action would bill in the committee within the time set. withdraw, the implication in his state- be expected.

I believe it is rather urgent that we do so. ment as to what the intent of the leader Mr. CLARK. I am not at all sure that I do not know what the intention of the ship was or is, because we have no intent. the limitation of time which has been chairman of the committee might be. I We do not interfere with committees suggested would be altogether wise in take it that the chairman has the disCommittees are independent in their own view of the fact that the Mundt amend- cretion of referring a bill to a subcomright. They make their own decisions, ment will not be part of the foreign aid mittee or not referring it. In this case and, under no circumstances, has the bill anyway, and what is all the hurry? I should think that, by reason of the limleadership ever attempted or will it ever Mr. MANSFIELD. Mr. President, itation of time, the hearings would be attempt to lay down a rule, a law, or a there is an element of doubt in the latter held by the full committee. dictum to any committee in this body. assertion made by the distinguished Mr. HOLLAND. Mr. President, will Mr. CLARK. Mr. President, will the Senator from Pennsylvania.

the Senator yield? Senator yield further?

Mr. CLARK. As there is, indeed, with Mr. MANSFIELD. I yield to the SenMr. MANSFIELD. I yield. respect to most of my assertions.

ator from Florida.

Mr. HOLLAND. It occurs to me that days and days and days. I should like Mr. DOMINICK. Mr. President, will perhaps one of the most salient points to hear some comment on that before I the Senator yield? in the whole situation has been over agree to this proposal. Many times I Mr. MANSFIELD. I yield. looked in the colloquy. Is it not correct have heard in the Senate the suggestion, Mr. DOMINICK. I wonder whether that the Export-Import Bank has agreed "Do not tie it into this bill; we will take

“Do not tie it into this bill; we will take the distinguished leader can tell us to hold up any further commitments un care of it separately.” In the years I

In the years I whether this program has been coorditil after the proposed new bill is dis- have been in the Senate, I have yet to see nated in any way with the House? posed of, provided it is disposed of in anything taken care of separately that Mr. MANSFIELD. No. a short period of time?

was objected to under such circum Mr. DOMINICK. It occurs to me that Mr. MANSFIELD. Within the time stances.

if the bill comes back and is passed by limitation and "a short period” is an Mr. MANSFIELD. Mr. President, will

Mr. President, will the Senate and then sent to the House, accurate statement. It will be a short the Senator yield?

and the House sat on it for the rest of period of time, because we have no right

Mr. COTTON. I yield.

the session, we would get nowhere. to hold up anything indefinitely. As I

Mr. MANSFIELD. I recall the allu

Mr. MANSFIELD. No. This prosaid before, I have very grave doubts sion to which the distinguished Senator gram has not been discussed with the about the procedure we are

following, from New Hampshire refers. I point out House. It is not intended to be disbecause I think we are undermining the that we are all mortal, that we all have cussed with the House. This is looked foundations of the executive branch of our faults. Most of us are becoming a

upon purely as a Senate responsibility. the Government in taking unto ourselves little edgy at this time of the year, I I am quite sure the minority leader and responsibilities which are not ours un

would hope most sincerely that Senators the distinguished Senator from South der the Constitution.

would unanimously see to it that the Dakota [Mr. MUNDT), as well as the SenMr. HOLLAND. Mr. President, is the word given by the two leaders would be ator from Georgia and other Senators,

honored and that the debate would not will support the statement I have just Import Bank to hold up further commit- be dilatory or drawn out. I am sure it made. What the House does is its own ments provided speedy disposition is would not be. We should be supported business. What we do in this instance made of the bill a part of the whole in our hope and expectation that once

is ours. That was made very plain in package? Am I correct or not?

this measure is reported back to the Sen- the meeting this morning. Mr. MANSFIELD. The Senator is ate by the Banking and Currency Com

Mr. GORE. Mr. President, will the correct. The PRESIDING OFFICER. Is there it in 1 or 2 days. mittee, we would be able to dispose of Senator yield?

Mr. MANSFIELD. I yield. objection to the request of the Senator

So far as the author of the amendment

Mr. GORE. Because of my attendfrom Montana ? and the proposal is concerned, the dis

ance in committee I have not heard all The bill (s. 2310) was referred to the tinguished Senator from South Dakota that has transpired in the Chamber, but Committee on Banking and Currency. [Mr. MUNDT] has indicated that he will

Senate aids have briefed me on the subMr. MUNDT. Mr. President, what is make every effort to do so. All we have ject. the status of the proposed agreement? in this body is our word, and it is either

I was one of a bipartisan group of Mr. MANSFIELD. Mr. President, a

worth something or it is worth nothing. Senators to whom the question of the parliamentary inquiry.

I If Senators want leaders, they must have sale of wheat to Russia was put. The PRESIDING OFFICER. The

a little confidence in them and help them gave my reaction and approval of the sale Senator will state it.

of wheat on the basis of cash on the along. Mr. MANSFIELD, Has the bill been

barrelhead-gold preferably, no credits,

Mr. COTTON. I was not suggesting referred?

and no soft currency. any lack of confidence in the leadership. The PRESIDING OFFICER. The bill

Now that the possibility of a much

Mr. MANSFIELD. I understand. has been referred.

wider trade has come into question, I

Mr. COTTON. I am suggesting what wish to reexamine the whole question Mr. MANSFIELD. The time certain limitation has not yet been agreed to.

the distinguished majority leader him before reaching a decision. I believe PRESIDING OFFICER.

self said a moment ago, that there is not that the wise course to follow is comThe

The unanimous-consent request of the Sena- a leader-majority or minority-or

any. mittee hearings and consideration. tor from Montana has not yet been one else who can give his word about

I congratulate the majority leader and what other Senators will do. agreed to.

the minority leader upon reaching this Mr. COTTON. Mr. President, reserv

Mr. MANSFIELD. That is correct. agreement, to which I subscribe. ing the right to object-apparently the

Mr. COTTON. I believe we should be Mr. MANSFIELD. I am grateful to bill will be reported on the 25th or the aware of the fact that, while we may the Senator from Tennessee. 26th

have an agreement, when the bill reaches The PRESIDING OFFICER (Mr. Mr. MANSFIELD. The 25th.

the Senate no one knows how long it will BAYH in the chair). Is there objection Mr. COTTON. On the 25th. Obvi- take to get affirmative action. I should to the request of the Senator from Monously no provision has been made as to like to object. I am not going to do so, tana [Mr. MANSFIELD]? The Chair hears how long the Senate will consider it. No but I regret that we are not going to dis- none, and it is so ordered. provision can be made?

pose of this critical question while we Mr. MUNDT. Mr. President, in view Mr. MANSFIELD. That is correct. are dealing with the foreign aid bill, so of this agreement, I am willing to offer Mr. COTTON. Last night, I recall, that it could be disposed of in a reason some unanimous-consent requests which

will clear the decks so that we may one Senator-one of the distinguished able time. leaders-felt so strongly about this mat

Mr. MANSFIELD. I appreciate the proceed. ter that he indicated if it were to be remarks just made by the distinguished First of all, I ask unanimous consent passed he would discuss it at great length. Senator from New Hampshire (Mr. Cor- that the order for the yeas and nays or

Mr. MANSFIELD. Mr. President, will TON], but strangely enough, I still have dered on my amendment and on the the Senator from New Hampshire yield? faith in the membership of this body, on modifying amendment may be rescinded.

Mr. COTTON. Please allow me to both sides of the aisle. I can be disap The PRESIDING OFFICER. Without finish the question I wish to ask. Now, pointed, and I have been disappointed, objection, it is so ordered. while the foreign aid bill is pending, it but I expect the membership, both Mr. MUNDT. Mr. President, I now is unlikely that we would have a long Democratic and Republican, to uphold ask unanimous consent that I 'may be drawn out discussion-I do not use the our hands when the time comes, regard- permitted to withdraw the two amendword “filibuster”—that would preclude less of how they may feel personally.

ments, because I have introduced a bill its passage; but if it is brought in all

Mr. COTTON. I share the faith of the covering the subject. alone, particularly when there are other distinguished majority leader. If any. The PRESIDING OFFICER. The measures before the Senate that certain thing could restore my faith in expedi- Senator from South Dakota now has that Senators do not wish to expedite, there tious work by the Senate, it is the fact right. It is so ordered. is nothing in the whole wide world to that we have accomplished so much in Mr. MANSFIELD. Mr. President, will prevent the Senate from discussing it for such a short time this session.

the Senator yield?

Mr. MUNDT. I yield.

esteem, that I did not mention his name. volves credit for any other export sales Mr. MANSFIELD. To set the record I was not impugning his motives, I was than grain. Has the Export-Import straight, a bill has been introduced and not criticizing him; I merely used that Bank been extending credit for other referred to the Committee on Banking as an example. I said if one Senator sales? and Currency. By direction of the Sen- felt so strongly on this question that he Mr. HUMPHREY. It applies to all ate, it will be reported no later than a would talk at length, if that was true of products. week from Monday, November 25, and on the Senator from Minnesota last night, Mr. YOUNG of North Dakota Has the the basis of the pledge of the leaders, it it may be true of several Senators on bank been extending this kind of insurwill be brought up for consideration that November 25.

ance to them? day, or the next day.

Mr. HUMPHREY. I fully understood Mr. HUMPHREY. Only to YugoAgain, may I express the hope that the the Senator's remarks. I wanted the slavia. debate will be assiduous and energetic RECORD clear that I felt last evening that I yield to the Senator from Vermont. but not dilatory or delaying.

we were proceeding too rapidly on a Mr. AIKEN. Any conditions that are Mr. MUNDT. Mr. President, I should vital question. I am pleased with the applicable will, according to the underlike to add to the general understanding, resolution of this vital matter. As I felt standing, be applicable to all exports. so that all Senators may know, that the last night, I feel even the text of the It is not contemplated that the Exportdirectors of the Export-Import Bank resolution goes far beyond what is wise Import Bank will make loans. The have agreed not to extend any further policy. I shall await the report of the Export-Import Bank insures loans made credits to Communist countries until the Banking and Currency Committee. I by the commercial banks to provide exSenate has expressed its voice on the hope the report will be negative. I in- porters loans for the purpose of financmatter.

tend to vote as I expected to vote last ing exports to foreign countries. It is Mr. HUMPHREY. Mr. President, will evening.

an insurance business, and not a loan the Senator yield?

Now I wish to ask the Senator from business, and the two transactions that Mr. MUNDT. I yield.

South Dakota a question. The under- have taken place have been insurance Mr. HUMPHREY. I should like to re- standing is clear as to the Export-Im- issued by the Export-Import Bank to ply to the Senator from New Hampshire port Bank and its recess, so to speak, as banks that have financed Cargill and one [Mr. COTTON), since I gather that his re- to any commitments relating to trans- other company. marks, directed to the majority leader, actions that require Export-Import Bank Mr. MANSFIELD. It is a moneyhad some indirect reference to my com- guarantees for the future. Is that cor- making proposition. ments last evening. I was looking rect?

Mr. AIKEN. That is correct. The through the CONGRESSIONAL RECORD. It Mr. MUNDT. Yes; and it holds until Export-Import Bank, since its inception was a rather tense moment on the such time as the Senate may conclude its in 1925, has made profits in the neighborfloor-most of it due to fatigue. I said action.

hood of $2 billion. Losses have been the following:

Mr. HUMPHREY. No matter how the minimal. There were some losses when I shall not let the Senate, if I can help it, Senate may conclude its action. Is that Castro confiscated powerlines and a televote on the issue immediately, because it correct?

phone company in Cuba, but the losses seems to me that if we needed time to dis Mr. MANSFIELD. But with the as have been negligible. cuss some minor amendments to the aid bill, surance that it will not be delayed.

Mr. YOUNG of Ohio and Mr. JAVITS we need plenty of time to discuss the pres

Mr. HUMPHREY. And that it is not addressed the Chair. ent situation. retroactive.

The PRESIDING OFFICER. The Earlier, I said:

Mr. MUNDT. My amendment is not Senator from New York is recognized. I am rather surprised that Senators who retroactive. Congress cannot pass retro Mr. JAVITS. Mr. President, the Senare members of the Committee on Banking active legislation.

ator from Ohio [Mr. YOUNG] sought recand Currency, which committee has juris To make it perfectly clear, so that ognition. I would not want to preempt diction over the operations of the Export, there will be no question, the Export- his right to the floor. I have a question Import Bank, are willing to have major pol- Import Bank has already underwritten which may result in an amendment. icy questions decided on the floor of the credits to Hungary for $4.5 million, un- Has the Senator from Ohio an amendSenate at 10 minutes after 10 p.m., after 342 weeks of exhausting debate, discussion, and der terms of that sale. Neither my ment? time-consuming activities in this body.

amendment nor the gentlemen's agree Mr. YOUNG of Ohio. I wish to lay be

ment we have entered into can move fore the Senate an amendment on which I give my assurance to the Senator backward. I have no such intention. I have already spoken. from New Hampshire and to the major Mr. HUMPHREY. If business transity leader that there is no intention on actions are entered into which do not from Ohio.

Mr. JAVITS. I yield to the Senator my part to do anything but make a con- require guarantees by the Export-Import structive contribution to the debate, and Bank, but are privately financed, or are Senator from Ohio.

The PRESIDING OFFICER The with no delays.

made with a private bank, the underMr. MANSFIELD. If only the rest of standing we have does not prevail?

Mr. YOUNG of Ohio. Mr. President, the Senate would follow the example of Mr. MUNDT. The understanding

I offer my amendment No. 293, and ask the Senator from Minnesota-this year. would not affect the sale of the grain as

for its immediate consideration. Mr. HUMPHREY. I thank the Sena- we anticipated it—that is, sale of the


grain for gold or cash. My amendment amendment offered by the Senator from Mr. DIRKSEN. Mr. President, will covers only the implications covered by Ohio to the committee amendment in the Senator yield? my amendment, and those only.

the nature of a substitute, as amended, Mr. HUMPHREY. I yield.

Mr. HUMPHREY. Or where a pri- will be stated. Mr. DIRKSEN. The Senate knows vate bank with Government help takes

The LEGISLATIVE CLERK. It is proand we know—with a sense of affection on the guarantee responsibility.

posed, on page 41, between lines 8 and 9, that the "immediates” of the Senator Mr. MUNDT. That is correct, but it to insert the following: from Minnesota are sometimes longer is my opinion that the Johnson Act would (d) Add the following new section: and sometimes shorter.

preclude the right of such private banks “SEC. 512. PROHIBITION AGAINST MILITARY Mr. HUMPHREY. I want to reserve to extend credit to a Communist coun ASSISTANCE TO SPAIN.—No military assistthe degree of flexibility along the lines try in default.

ance shall be furnished under this Act to the minority leader has suggested.

Mr. HUMPHREY. I know of no such vision of this Act shall be construed to au

the Government of Spain. No other proMr. COTTON. Mr. President, will the situation, but I thought we should un thorize the President to waive the provisions Senator yield? derstand that.

of this section. The provisions of this secMr. HUMPHREY. I yield to the Sen I yield now to the Senator from North tion shall not be construed to prohibit sales ator from New Hampshire. Dakota [Mr. YOUNG).

to the Government of Spain of defense artiMr. COTTON. I assure the distin

Mr. YOUNG of North Dakota. Mr. cles or services under section 507.guished Senator from Minnesota, who President, I was not at the meeting this Mr. YOUNG of Ohio. Mr. President, knows I hold him in the very highest morning, so I wonder if this matter in- having already spoken out regarding this

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