by working for 18 months in England and could do the most intricate and difficult print jobs. At 26 he began the highly profitable annual publication of Poor Richard's Almanac. He managed his affairs so ably that at 42 he retired with an income equivalent to that of a royal governor. Though he was good at it, moneymaking never interested him, except as a means to obtain leisure for the things he really enjoyed: reading, study, scientific experimentation, social discourse, and correspondence with men of similar interests.

While still a journeyman printer, he had founded a club for sociability and self-improvement, called the Junto, of which he later said that it was "the best school of philosophy, morals, and politics" then existing in Pennsylvania. Its membership of about 12 consisted of alert, intelligent young artisans, tradesmen, and clerks who liked to read and debate. They met Friday evenings to discuss history, ethics, poetry, travels, mechanic arts, and science (then called natural philosophy). It has been said of this group that it "brought the enlightenment in a leather apron to Philadelphia."

Franklin, who was full of ideas for improving life in Philadelphia and the Colonies in general, submitted all his proposals to the Junto where they were debated. Once accepted, members worked hard to get them put into effect. As a result, improvements were made in paving, lighting and policing the town; a volunteer fire department and militia were formed; a municipal hospital was established; the foundations were laid for what became the University of Pennsylvania and the American Philosophical Society. Of most lasting importance, perhaps, was Franklin's plan for a subscription library, the first in the Colonies. Access to books, he felt, meant that "the doors to wisdom were never shut." The idea caught on. He noted with satisfaction that the numerous libraries springing up everywhere "have improved the general conversation of Americans, made the common tradesmen and farmers as intelligent as most gentlemen from other countries, and perhaps have contributed in some degree to the stand so generally made throughout the Colonies in defense of their privileges." The value of knowledge to man and society has never been put more succinctly.

When he was 40, Franklin discovered electricity. It was then a sort of magic, a parlor trick. Franklin-ably supported by his Junto-threw himself into experimentations and developed a workable theory which he proved in his famous kite experiment. In the 6 years between 1746 and 1752 his contributions to electricity changed it from a curiosity to a science, and in the process made him world famous. His writings on electricity were compared with Newton's optics; he became the friend of most contemporary scientists, was made a member of virtually every scientific society and received honorary degrees from 20 universities. He was the first American scientist to win universal acclaim; the first American author to have his books translated and read as widely in Europe as in America. When he was sent to Paris, as America's first Ambassador to a major power, the admiration of France for

Franklin's scientific achievement in catching lightning and putting it to man's use contributed not a little to the success of his mission: winning the help of France to the Revolutionary cause.

As a man of leisure, Franklin found himself more and more drawn into public service, this being expected of anyone who had the time and ability to serve. He became a member of the Pennsylvania Legislature, the Committee of Five charged with drafting the Declaration of Independence, the Second Continental Congress and the Constitutional Convention. In one way or another, he

represented America abroad a total of 25 years, becoming an exceedingly skillful diplomat. His statement, in hearings before Parliament, of the case of the Colonies against the hated Stamp Act was masterly and helped bring about the repeal of this act. He was among the first to recognize that not merely "taxation" but "legislation in general" without representation could not be borne by Englishmen, whether they lived at home or abroad. The bond uniting England and its colonies, he argued, was the King, not Parliament. Had his "dominion status theory" been accepted, the war might have been prevented but, as he sadly remarked, "there was not enough wisdom."

At 65, Franklin began his autobiography, intending it for his son. When pressure of public duties interrupted work on the book, one of his friends pleaded with him to complete it. All that had happened to Franklin, he urged, was of great historic interest since it was "connected with the detail of the manners and situation of a rising people." Moreover, the way he had planned and conducted his life was "a sort of key and explained many things that all men ought to have once explained to them, to give them a chance of becoming wise by foresight."

His philosophy of life, the virtues he cultivated-competent workmanship, honesty, industry and frugality—are within everyone's grasp; they are as important to a good and successful life today as in his time. No American child ought to grow to adulthood without having read the autobiography of this talented, wise and good man, who personified all that is best in America. "Merely by being himself," wrote Mark van Doren, "he dignified and glorified his country." Respectfully,

H. G. RICKOVER.

POEM WRITTEN BY MISS LUCI BAINES JOHNSON AND PRESENTED TO HER FATHER, PRESIDENT LYNDON BAINES JOHNSON, ON THE OCCASION OF HIS 57TH BIRTHDAY

Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from Oklahoma [Mr. ALBERT] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. ALBERT. Mr. Speaker, under leave to extend my remarks, I wish to insert in the RECORD the poem written by Miss Luci Baines Johnson and presented to her father, President Lyndon Baines Johnson, on the occasion of his 57th birthday. Apart from the illustration of Miss Johnson's talents, the poem is also evidence of the devoted family life which the Johnsons have been able to enjoy despite the great official deto enjoy despite the great official demands all of them have met over many years. The family is the foundation of our society. It is embedded in love. The millions of Americans who find happiness and strength in family life rejoice that our first family, like the average American family, is bound together by genuine ties of love and devotion. The poem follows:

LUCI TURNS POET, LAUDS L.B.J.'s 57TH AUSTIN, TEX.-Luci Baines Johnson, younger of the two daughters of the President, revealed herself as a poet in observing the 57th birthday of her father on Friday.

She presented him with a white leatherbound volume of poems which had been written by her since she was 9. She is now 18.

Assistant White House Press Secretary Joseph Laitin read one of the poems to reporters here on Saturday. Entitled "On Becoming 57," it reads:

"There are problems I can't understand
That you must face each day

All the black and white in life is gone,
And the remainder purely gray,
Oh, I wish there'd be a problem
That a mortal man could solve
Once again to know the satisfaction
Black and white-hope and love,
Though all the world is shaking at your door
You stand erect and calm
Knowing panic is man's enemy, and control
is balm.

Though the Presidency possess you,
Your private life you retain
Unending love for Mom, Sis and me
Always has and will remain.
Him's love affairs are your concern
As the cattle and the land
They fill your heart, enrich your mind
Yes you love-and understand.
You understand so much of life
Much more than I once believed
You've come from intelligent to wise
I know this and believe

That you are more to me than a
Father, President, or friend

You are hope and strength and diligence
Concern and wisdom.

Admiration flows abundantly from
This pen of mine

For the man who's giving All he's got

To try to save mankind."

INCREASE IN ANNUITIES AND PENSIONS UNDER THE RAILROAD RETIREMENT ACT

Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from Ohio [Mr. ASHLEY] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. ASHLEY. Mr. Speaker, I should like to make a brief statement concerning a bill I have introduced today to provide a 7-percent increase in annuities and pensions under the Railroad Retirement Act.

Railroad retirement benefits have not been increased since May of 1959. Yet the cost of living has increased by 9 percent since that time. Railroad retirement annuitants have not been treated as generously in their battle with the dayto-day cost of living as have the beneficiaries of other federally administered retirement systems.

During the post-World War II period, for example, social security benefits have been increased five times by percentage increases that total on the average, to over 140 percent, including the 7-percent increase enacted this year along with the medicare program. Civil service annuitants have received received four increases totaling, in some cases, to over 70 percent, and the House has recently passed a bill granting these beneficiaries another increase ranging from 5 to 10 percent depending upon the date of retirement.

The railroad retirement annuitant has received only four increases during the last 20 years totaling but 55 percent. The retired railroad worker appears to be the forgotten man among those fighting the increased living costs on the limited income of a retired worker. Surely our obligation toward these retirees is as great as it is toward those on social security or civil service retirement.

The

Mr. Speaker, one of the most compelling reasons why the retired railroad workers need this additional money is to help them to take advantage of the supplemental medical insurance program under the medicare bill. As you know, the medicare bill provides two health insurance programs for those age 65 and over. The basic, or part A, program of hospital and other institutional care is financed out of social security and railroad retirement contributions for those covered under those two systems. so-called supplemental, or part B, program to provide physicians benefits, however, is to be supported by $3 a month contributions by subscribers, matched by a like amount out of Federal general revenues. This latter program is to be voluntary, covering only those who wish to join. Part of the rationale for the 7-percent cash benefit increase for social security beneficiaries that was enacted as part of the same law that established the medicare programs, was to afford these beneficiaries additional funds in order that they might take advantage of the supplemental medical insurance program. But what about the railroad retiree? Where is he going to get the additional funds necessary to subscribe for these benefits? Unless we grant him an increase, he is going to have to cut into his limited funds for living expenses in order to take advantage of this program.

Mr. Speaker, Congress has always recognized its continuing responsibility to those on the rolls of federally administered retirement systems. It is not enough that these persons be paid only a stated amount per month as stipulated in advance. The purpose of a retirement plan is to afford an individual the means to retire with some assurance that his retirement income will provide the protection he expected it would when he was making contributions to it. The Government must maintain the annuities of retirees at a level that will afford them living standards they have every right to expect.

WE, THE MERCHANTS OF DREAMS Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from Florida [Mr. PEPPER] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. PEPPER. Mr. Speaker, it gives me great pleasure to call to the attention of my colleagues an address of Mr. Philip J. Goldberg before the Associations of Life Insurance Underwriters & Salesmen, at the convention of Hamilton Life

Insurance Co. of New York this past June.

Mr. Goldberg is one of this country's dynamic and influential leaders in the American life insurance industry. He is now chairman of the board of Hamilton Life Insurance Co. of New York. He has built a complex of some half-dozen life insurance companies in various sections of the country.

Before his entry into the life insurance management field he was perhaps the country's most successful life insurance salesman. He now travels the country speaking before associations of life insurance underwriters and salesmen, carrying to them the message of the role of life insurance in building security. He refers to the members of his audience as "merchants of dreams" whose function it is to sell "security on the installment plan."

Mr. Speaker, I feel that this address typifies the fact that democratic capitalism remains a dynamic social and economic philosophy for our times.

I call this to the attention of my colleagues for their reading:

life. Third, to forge some personal identity so that when we depart this earth, someone

will remember. It is true that it is the great tists who have wrought the technological leaders who make history. It is the scienmiracles. It is the thinkers and the geniuses who have forged new frontiers of law and social order. But it is the rank and filethe unnamed, unknown world's billionswho inch ahead generation by generation, repeating the cycle of hope, aspiration, despair, progress. In this sense, the world remains anxiety-and in the end, some measure of

unchanged.

Each man continues as his own lonely island, tentatively groping for a kindred spirit, slow to advance, and quick to retreat. This has great significance for each of us in our chosen calling. For who, more than we, has the God-given opportunity to help our fellow a bridge to that lonely island that is everyman? I feel that God tapped us on the shoulder when he directed our steps toward life insurance as a career. To me, we are all His financial ministers, doing for man's worldly needs what the priest, the rabbi and the minister do for his spiritual needs. Both contribute to man's security, his peace of mind, his dignity.

man? Who, more than we, is able to build

Yes, ours is a divine calling-a service-a duty a way of life-an awesome responsibility. We are not doctors. Yet, I daresay that we have kept more souls and bodies to

I wish to point out just how important you are and to fully assess your posture and your importance not only to yourselves and your families, not only to Hamilton, but to our entire society. So indeed, if I have any text this evening, it is to persuade and prove to you your own importance.

I have learned early in my career that it is you that the insured buys and not a company. Be it the richest or the oldest. He buys the personal services of an agent. He buys you and he buys me.

It is pure coincidence, of course, but we meet in the shadow of history. I credit this past Sunday's New York Times Magazine for pointing this up to me. One hundred and fifty years ago tomorrow, Napoleon met his Waterloo-and with his defeat was ushered in what historians refer to as the hundred years of so-called peace-four generations dominated by Great Britain and brought to of mankind's progress on earth, essentially

a harsh and crashing end with the onset of World War I. More pointed and cogent for all of us, this week also marks the 25th anniversary of the fall of France before the invasion of Hitler's hordes. And in the generation that has passed since those black days, the historians tell us, the world has undergone more physical, technological, and social change than in all prior recorded history.

I will not argue with history-or with the historians. Certainly, the world of 1965, as we know it today, was beyond our contemplation or comprehension 25 years ago. Perhaps the best gage is the fact that miracles attributed to Buck Rogers in the 25th century have come to pass in a short 25 years. And, yet, as great and unpredictable as have been the changes, I say to you that the fundamentals of man's passage on this earth remains the same today as they were 25 years ago, and as they were 150 years ago, and as they were 1,000 and 10,000 years ago.

From caveman to today's urbane and civilized middle class, the yearnings, the longings, the hopes, the aspirations are the same. First, to satisfy the basic physical

needs-bread and shelter. Second, to achieve

some measure of security, so that our children may have it a little bit better than we did—a better education, a bolder start in

statesmen. But we have made, and continue to make, our contribution to the economic

security that is at the root of American democracy. We are not soldiers. Yet, we guard the economic outposts of the democratic American way of life. We are not writers. But how many happy endings have we written to the very human story of struggle and conquest over a too-stern destiny. To all those to whom we have brought the salvation of life insurance, we are all these things and more. For, unlike the great in so many walks of life, we are not aloof from the people. Rather, we are an intimate part of the lives of those whom we serve, always on call, always accessible.

In a day and age when anxiety reflects man's defenselessness against fate, it is we who give him the confidence to cope with at least some of life's fundamental problems. Consider, for a moment, what our society would be like if there was no life insurance.

Every man would at once be beaten by the fact that death may come to him before he has an opportunity to discharge his greatest social obligation, the support of his family.

He is at once beaten by the treachery of time. For the passing years which give him the opportunity of caring for his family today, are whittling away at his power to take care of them tomorrow.

He is at once beaten by the fact that it is impossible for him to reconcile his need for an estate today with his inability to pay for it today.

He is at once beaten by the fact that you have taken away from him the only plan of accumulation which enables him to be an indulgent father at the same time that he is a provident father.

He is at once beaten by the fact that you have taken away from him the only plan of property accumulation, which scientifically amortizes the debt youth owes to old age.

He is at once beaten by the fact that you have taken away from him the only method whereby the value of human life which is destroyed at his death, is automatically converted into indestructible dollars; gentlemen-were it not for life insurance, ours would be a society in which most people would be beaten before they were started, laboring, as in bygone days only to earn the peace and promise of the hereafter. Life insurance helps translate that promise to the

heavenly kingdom on earth. Are we not indeed the financial ministers of God? There is nothing more powerful than the force of an idea whose time has come. This is that idea "There is only one real reason for buying life insurance-love." There is only one real method for selling life insurance-faith. A passionate-yes, religious conviction that what we are doing is the most important and vital and necessary service that can be rendered to our fellow men. Only with this faith, can we be successful. It is this faith, and this creed that has always guided me to sell: first, as a life insurance agent, then, as a general agent, and even now, as chairman of the board of a life insurance company. I would make my prospect come to grips with fundamentals I was neither afraid nor embarrassed to be emotional; I know that typically the average prospect can't afford to die-and can't afford to live.

I come to him with answers to unspoken problems-protection against dying too soon-or living too long-or facing the living death of disability. In my days in active selling I would always ask my prospect this question-"If you were to lose your wife and your job on the same day which would be the more tragic loss for you?" The prospect does not answer-because there is no answer. I would quickly point out that this is precisely the situation that his wife will face on the day he dies. She will have lost a husband and a provider. Yes, I have never been fearful or uncomfortable about being emotional with my prospect. This is what he understands. I do not hesitate to bring to him the feel, the sight, the touch, yes, the very smell of premature death. Gentlemen, you and I know that what makes our business possible is that people die at all ages.

The Biblical "3 score and 10" is a hope, rather than an expectation. And a mortality table does nothing more than record statistical experience over thousands of people. Individually, the man of 40 has no more right to expect to live a day longer than the man of 70. The mortality rate for people in the United States is still one per person. So let us see what does really happen? "You died last Monday, they buried you yesterday; you were a good provider while you lived, but how will you stack up in death?" A man may be judged by his peers on the basis of his accomplishments in life but his family is forced to judge him by what he has done for them in death. This is a truth which every prospect must be made to face, for when the funeral is over and the guests have departed, and the flowers have withered and all that remains to the widow is the black of night and a bottomless well of loneliness, who and what will there be to bring her a glint of hope for the future? Only you will be there with the dollars to help her bear this tragic loss. It is only we who remain. It is only we who can come to her in the cold light of morning bearing the assurances of security for her and the children. It is only we who stand between a renewed and purposeful life and a scrap heap of dreams.

Yes, the mortality rate for people is still

one per person.

Set in this context our calling emerges as the most humane, perhaps, even divine, in which a man can be engaged, we are indeed merchants of dreams. Because we make it possible for people to realize their life's dreams. For we bring dreams to a reality on the installment plan. How do I tell these things to a prospect? Easily, by not talking to him about premiums and cash

values and dividends. These are the incidence of life insurance, but they are not the language of life insurance. To live and to die. To have and to have not. The brow of a wife, wrinkled with fear. The lined anxious faces of elderly parents. This is the

language of life insurance; this is the language that any man can understand. Yet, how often do we reject this fundamental approach in favor of being too professional? We sell tax shelters and rate comparisons and 20-year net cost comparisons and dividends. Gentleman, may I ask this distinguished assemblage to tell me on what mortality table is the 50 megaton bomb? I ask you. What would it do to our projection of cash values and dividends and net costs?

Yes, the mortality rate is still one per per

We must speak the language of life insurance or else we must pass ourselves off as estate planners and financial planners and insurance consultants and, we, unconsciously compete with the lawyer and the accountant in selling a product for which there is no competition.

We tend to forget that we are selling the most basic product on earth-bringing security and dignity to human beings in life and in death-enabling them to realize their most unattainable goals. How colorless, indeed, become the tricks of the trade when we size up our mission in life in these bold and dramatic terms. This is selling by faith-faith in the fact that ours is the only product ever created that can only help our prospect or his family; that ours is the only product ever created that is guaranteed to deliver what it promises; and promises a multiple of what is paid for it.

But

Widows ask, "How much insurance did my husband have?" Never in my career have I heard asked, "What kind did he have?" How fortunate we are to know that, whatever we sell a man, be it only overnight insurance, we can only do him good. there is a second premise to my equation. There is only one reason for buying life insurance-love. Only a deep and constant love of his family moves a man to purchase financial security for them. It is a noble and selfless act.

You are needed to translate sentiment into action. And, the odd part of this business we're in is that whether the insurance is purchased or not purchased someone pays for it. Either with money or with suffering.

Is not the insurance paid for by the man of 65 your prospect will be someday? Will it not be paid for with a loss of personal dignity? Is he still useful, and needed, even for an opinion, when he could not save enough money to exist on? Will it not be paid for with physical and mental deniala pack of cigarettes less a week, a shabbier Christmas present, a poorer neighborhood to live in, a dingier cafeteria to have a lonely supper, yes, there are no raises in pay at retirement. Yes, one father can support eight children but how many times have you heard of eight children supporting one father? Is it not paid for by the prospect's wife who expects her husband to live to be an old man? Is not she paying for the premiums when in the autumn years of her life she has to work as a maid and helper in other people's homes? As a babysitter at a time when her mind cries out for protection from the playful shrieks of little children? Is not she paying for it when she shamefully accepts the worn handouts of clothing, the leftover gifts of food, the invitation to "join us all at Christmas dinner *** and please, do not buy anything for the children *** they have everything." Yes, everyone wants to go to Heaven, but no one wants to die.

mother whose husband was taken away durIs not life insurance paid for by the young tion I asked in my opening remarks? "If ing the summer of life? Remember the quesyou lost your wife and your job both on the same day how would you feel?" Well, she knows the answer. She lost her love and her economic existence at the same moment, yes she will pay. By working at a job she cannot risk losing, by worrying if Johnny ate

his lunch or worse-is he playing in the playground or at the poolroom? She will pay, by smiling at the boss even though she is irritated at his attention. By worrying over unpaid bills and being a fathermother and breadwinner. Yes, the magazines show the picture of the brave young widow smiling confidently as she gazes toward the horizon, surrounded by her three children and white home with its white picket fence. That is a true picture if her husband bought insurance. If he did not, the horizon she is looking at is really whether the girls from the car pool are too early to take her to the plant, breakfast is not ready for the children, and the house is grey and mortgaged, and the picket fence is falling down.

If your prospect still doesn't want to buy insurance, ask him to write a letter to his wife and children to be left with his will. Ask him to explain to them why he didn't protect his family-for we wouldn't be able to. Yes, the man who doesn't buy enough life insurance for his wife and children doesn't die, he absconds.

Would you like to know who else pays for life insurance? Little Mary and Johnny do. In a future world, when the battle will be for mind power and not manpower, Johnny can't go to college, and he has to deliver papers * and that's cute, but sometimes it's raining. And sometimes the snow is wet and sometimes his fingers are numb from the cold. And sometimes he gets home late for supper-too late to study or help his mother. Yes, he, too, pays for insurance. And little Mary can be loved by her father. But only her father can buy her a blouse with a "W” on it, and only her father can determine whether the "W" is for Woolworth or Wellesley. Yes, everyone can cry, but how many people can cry for joy? Wouldn't you agree with me that the most beautiful, the most tender, the most endearing love letter a man

can write to his beloved wife and children is a life insurance policy?

Wouldn't you agree with me that there is only one real reason for buying life insurance? Love. Yes, you have to love someone to buy life insurance. You have to have faith to sell life insurance. There is nothing more powerful than the force of an idea whose time has come. Love-faith-life in

surance.

A fundamental equation to meet the fundamental needs of life. The Bible says we walk by faith and not by light. I have that faith. I believe, every time I see a business that has not closed down because a partner has died. I believe, every time I see a child go to college even though his father has passed away. I believe, every time I see a home where the mortgage has been paid, though the father is departed. I believe every time I see a widow cash a monthly life

insurance check. I believe, when I see an old man who does not have to beg for a handout. Yes, then I know why I believe.

And how about believing and having faith in yourself? There are not triumphs without sacrifices, and the road to success is a torturous one. You have to put a fire in your heart. And work hard for success. We have to clean the cobwebs out of our brainsthe fears, the frustrations, the anxieties, the insecurities. These are the chains which bind us to failure. We cannot look inside ourselves for success and outside ourselves

for failure. We cannot let others set the standards for our behavior. Let us set impossible goals, and move ahead to achieve them. A man's reach should exceed his grasp, else what is heaven for?

I call upon you all to follow me to unlimited horizons. Join me in the arena. Ask no quarter and give none. There is no real competition for our product. Let us then get down to fundamentals in selling. Men buy when they are motivated. When we recognize that the heart knows reasons of

which the mind knows nothing; we can speak and sell accordingly. We must bring to this business of ours clarity of judgment, and a genuine sense of urgency; personal magnetism, simple professional skill, strong devotion of duty, and unsquelchable honesty. Let us go out and truly work-and tell our story and spread the Gospel.

As evangelists, as revivalists, as fundamentalists. For we are the financial ministers of God. It is we whom He has sent to deliver the money for bread and milk and mortgage payments and dignity and security and college educations. Because of us, the postman rings twice. Once, for the bills, and the second time, with the check from the insurance company that will pay the bills even though the breadwinner is no longer there. The life insurance company sends a love letter every month. We helped compose this letter. We, who sold him life insurance. It is we who talked long and hard into the small hours of the morning, so that his family could receive the check that spells life and hope. Isn't it truly a glorious calling that answers today's problems with the promise of tomorrow? Are we not indeed merchants of dreams?

SAVINGS AND LOAN PROGRESS IN VENEZUELA

Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from Florida [Mr. PEPPER] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. PEPPER. Mr. Speaker, the savings and loan industry which has been created within the last few years in Latin America is one of the bright spots in the Alliance for Progress. Only last week, it was reported that savings and loan associations organized in 11 Latin American and African countries have already attracted more than 318,000 savers and more than $85 million in savings. These funds have provided homes for more than 35,000 people.

One of the nations experiencing tremendous success with private thrift and home financing under the savings and loan concept is Venezuela. On July 11, the Daily Journal of Caracas, Venezuela's English-language newspaper, published an article in its Sunday magazine section on the savings and loan program in that nation. I am very proud to report that a fellow Floridian has played a major role in the development of the Venezuelan savings and loan system. He is Harry P. Greep, president of the Atlantic Federal Savings & Loan Association, of Fort Lauderdale, and the vice president of the National League of Insured Savings Associations, of Washington, D.C. Mr. Greep has spent much time in Venezuela working with the Agency for International Development on the savings and loan program.

According to the Caracas Daily Journal, the present homebuilding boom in Venezuela is due to the private home financing made available by the new savings and loan associations recently established in Latin America. In just a few short years, the introduction of savings and loan associations has had a major impact on Latin America. It is

my hope that the Congress soon will take additional steps to accelerate this highly worthwhile program by enacting legislation to establish an International Home Loan Bank which would channel limited funds from savings associations in the United States in the form of "seed capital" investments in these newly organized, locally owned and managed savings institutions in the underdeveloped areas of the world.

The above-mentioned article follows:

SAVINGS AND LOANS

(By Alvaro Arraiz) Venezuela's construction industry is riding in the crest of a homebuilding boom.

Industry leaders say it surpasses even the gold dust days of the mid-1950's, when Venezuela leapt from its colonial structure to the futuristic skyline it has today. In the first 10 months of last year, investments in private construction totaled 530 million bolivars the highest amount in any year except 1959-and experts were predicting an alltime record would be reached by December.

This year, the boom has, if anything, gained greater momentum, spilling from Caracas' narrow valleys to fill whole new areas with houses, buildings, and schools. A leading firm in the horizontal property field recently estimated 4,000 new apartments would go up by 1966.

THE ROLE OF SAVINGS AND LOAN

Builders say a major factor in producing this boom is the rapid growth of the savings and loans system. Thousands of Venezuelans who see in it an opportunity to build their own homes, have made the system the fastest growing financing plan in the country. According to builders, this is because it places a private home within the reach of many who could not afford it otherwise. And this, say the builders, is the reason homebuilding prospects are so encouraging.

While new in Venezuela, the savings and loans system's ancestry goes back to the industrial revolution days of England's 18th century. English immigrants brought the system to the United States in 1831, where it grew rapidly. By the turn of the century, the system's total assets in the United States reached $579 million. Thirty-one years later, this figure had grown to $6,400 million.

Today the savings and loan system in the United States consists of 6,000 private associations with capital assets above $100,000 million. Eloquent testimony of its importance to the American construction industry is the fact one of two homes built in the United States are financed through a savings and loans association.

ADOPTION IN 1961

through two Presidential decrees. These deVenezuela adopted the system in 1961

crees created the central savings and loans office and the savings and loans commission-the agencies which regulate the functioning of the system in Venezuela.

The savings and loans commission is in charge of establishing the norms of operation for savings and loans companies in Venezuela, as well as of approving creation of these companies. It is the highest authority on savings and loans in the country, and through its decisions the system is developed and expanded. It is made up of seven principal and seven alternate members, chosen by the President from leading figures in the construction industry and government.

The central savings and loans office is the technical and administrative body of the system. Its job is to carry out the decisions taken by the commission, to create new savings and loans companies, and to intervene

Savings and loans began in Venezuela with a Bs. 45 million fund provided by the Agency for International Development (AID) and Bs. 33 millions loaned by the Venezuelan Government. This capital was later expanded by another government loan of Bs. 35 millions to a total of Bs. 113 millions. In October 1962, the system consisted of only a few companies with total savings of Bs. 1.64 million, and that year loans approved by the system amounted to only Bs. 134,000.

Today, 21 savings and loans companies with nearly Bs. 80 millions operate in the country. As of March this year loans approved by these companies totaled Bs. 167 millions, and experts say real growth is just beginning.

GOVERNMENT BILL

In view of this extraordinary growth, the Government has started work on a law to "institutionalize" the savings and loans system. The bill-now being studied in Congress aims to replace the central office and commission and the norms of operations with a solid legal structure.

The bill was introduced by Miraflores' planning and coordinating office (Cordiplan) with the plan of making a national autonomous institute of the savings and loans system. Its principle objective is to create national savings and loan banks to handle the work presently being done by the two government agencies.

But the bill has met with criticism from business circles, which claims nationalizing the system would greatly hinder its development. Constructions industry leaders argue that national institutes are inefficient and inoperative. They point to the success savings and loans have had under private control and say it would never have been possible if the system were in government hands.

The construction chamber and the Venezuelan Federation of Savings & Loans Associations have both announced their stand publicly on several occasions.

FEDECAMARAS STAND

Recently the Chambers Federation (Fedecamaras), Venezuela's most important business organization added its weight to this stand.

Fedecamaras President Concepcion Quijada said making the savings and loans system a national institute would deter savings since "people have built up confidence in private savings and loans bank, but only if this bank was a private corporation."

Quijada said capital for the bank should be mixed private-government, and not 100 percent government as planned in the bill. He also said the bank's board of directors should have at least two representatives of private savings and loans associations, and one representative of the construction industry.

According to the Government bill, all seven members of the board of directors will be appointed by the President of the Republic and of these, none may be a director of a savings and loans association.

COPEI PROPOSAL

While debate of these differences was still going on, a second savings and loans bill was introduced by the Social Christian Party (Copei).

The Copei bill follows closely the stand adopted by business leaders, inasmuch as it plans the savings and loans bank as a private corporation, but allows some representation of private savings and loans associations, and accord that capital for the bank will be 25 percent private.

Until now, neither Fedecamaras nor the construction chamber has announced that they will support Copei's bill. While the

bill meets nearly all the requirements these bodies have asked for, Copei's congressional strength gives little hope that the bill might be passed over the three Amplia base parties, who support the Cordiplan bill.

Some observers have said private enterprise would rather seek a compromise with the Amplia base parties than support a bill introduced by the opposition.

What Fedecamaras and private business will decide is not easy to predict. But it is clear that this decision will vitally affect the future development of the savings and loans system and the construction industry, and through them, the nation's economy.

For this reason, the business world's attention is focused on the deliberations and negotiations Fedecamaras is holding on this matter, and also on the possible willingness of the Government to compromise with private enterprise in a joint effort to economically develop Venezuela.

A BILL TO PROVIDE INSURANCE PROTECTION FOR ACTIVE DUTY SERVICEMEN

Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from Tennessee [Mr. EVERETT] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. EVERETT. Mr. Speaker, the Insurance Subcommittee of the Committee on Veterans' Affairs has been working for several weeks on legislation which would provide insurance coverage for members of the Armed Forces who are on active duty.

Survivors of members of the Armed Forces who lose their lives on active duty are protected by the dependency and indemnity compensation program for service-connected death. This program became effective in 1957 and is designed to give continuing protection to the wife, children, and dependent parents of servicemen who lose their lives from service-connected causes.

The dependency and indemnity compensation program does not extend to single men whose parents are nondependent. It is the purpose of the bill which I am introducing to make available insurance coverage to single men with nondependent parents. This coverage would also be available to servicemen with wives, children, and dependent parents in addition to the protection which they now receive under the dependency and indemnity compensation program.

The bill which I am introducing is the result of conferences with officials of the Veterans' Administration and Defense Department, Veterans' Administration insurance experts and insurance experts from the private companies. This bill is patterned closely after the group insurance program now available to Federal employees. It would provide for a program of group life insurance which would be administered by the Veterans' Administration and underwritten by private insurance companies. The plan would be voluntary; however, members of the Armed Forces would be required to sign a statement in writing removing themselves from the program if they do

not desire to participate. Members of the Armed Forces being separated would tion during which insurance could be be given a period of 31 days after separaconverted and continued with one of the participating companies. The premiums would be established by the Administrator of Veterans' Affairs based on actuarial estimates. tative estimates supplied the Insurance However, tenSubcommitte indicate that this insurance would be available at a rate of about 25 to 35 cents per thousand per month.

The U.S. Government would bear the extrahazardous cost of war deaths under this program just as it did in the U.S. Government life insurance and national service life insurance programs.

The Insurance Subcommittee has scheduled hearings on this legislation for September 8, 1965, with the hope that a satisfactory program can be developed and passed before the end of

this session.

CONGRESSMAN

STRATTON ANNOUNCES RESULTS OF 1965 CONGRESSIONAL QUESTIONNAIRE IN 35TH DISTRICT OF NEW YORK Mr. CLEVENGER. Mr. Speaker, I ask unanimous consent that the gentleman from New York [Mr. STRATTON] may extend his remarks at this point in the RECORD and include extraneous matter.

The SPEAKER pro tempore. Is there objection to the request of the gentleman from Michigan?

There was no objection.

Mr. STRATTON. Mr. Speaker I am happy to bring to the attention of my colleagues the results of my 1965 congressional questionnaire. I should point out that this upstate New York district has a party enrollment which favors the Republican Party by a margin of nearly 22 to 1 although President Johnson carried the district last year by more than 50,000 votes. It will be apparent from the figures below, the people I have the honor to represent, on the basis of their replies to this questionnaire, still strongly support the President, his handling of our foreign policy and in general his domestic legislative program. I believe these results will be of great interest to Members of the House. I might also add, Mr. Speaker, that basically this is the same congressional district which was represented prior to 1962 for a period of 40 years by our distinguished riod of 40 years by our distinguished former colleague from Auburn, Hon.

John Taber.

The question and answer results fol

low:

4. Continuation of the present wheat cer

tificate plan for wheat farmers? Yes, 14

percent; no, 39 percent; undecided, 47 percent.

5. Federal help to local communities in constructing needed sewer lines or water systems? Yes, 67 percent; no, 24 percent; undecided, 9 percent.

6. President Johnson's proposal to combat crime by putting limitations on the importation and mail order shipment of firearms? Yes, 65 percent; no, 30 percent; undecided, 5 percent.

7. Adoption of a constitutional amendment allowing States with a two-house legislature to apportion one house on the basis of factors other than population, as is done with the U.S. Senate? Yes, 56 percent; no, 19 percent; undecided, 25 percent.

two flood control dams at Davenport Center 8. Spending some $30 million to construct in Delaware County and on the Genegantslet Creek in Chenango County without waiting for the results of a comprehensive survey of up-to-date flood needs in the Susquehanna River basin? Yes, 11 percent; no, 75 percent; undecided, 14 percent.

9. The administration's voting rights bill, to enforce the 15th amendment in places like Selma, Ala., and elsewhere? Yes, 64 percent; no, 19 percent; undecided, 17 percent.

10. Federal funds for college scholarships for needy and deserving students? Yes, 72 percent; no, 21 percent; undecided, 7 percent.

11. Federal help in developing and distributing scarce water supplies to combat New York State's continuing drought? Yes, 67 percent; no, 22 percent; undecided 11 percent.

12. Amending our present immigration laws to base immigration quotas on education, skill, and family relationship rather than national origins? Yes, 67 percent; no, 17 percent; undecided, 16 percent.

13. Generally speaking, do you approve of President Johnson's handling of his job since taking office? Yes, 64 percent; no, 18 percent; undecided, 18 percent.

FOREIGN SHIPPERS REFUSE SAIGON-BOUND U.S. GOODS Mr. CLEVENGER. Mr. Speaker, I ask from Florida [Mr. ROGERS] may extend unanimous consent that the gentleman and include extraneous matter. his remarks at this point in the RECORD

The SPEAKER pro tempore. Is there from Michigan? objection to the request of the gentleman

There was no objection.

Mr. ROGERS of Florida. Mr. Speaker, the Greek crew of the freighter Stamatios S. Embiricos has refused a $10,000 bonus in addition to wages to sail 10,000 tons of U.S. Army supplies from Long Beach, Calif. to South Vietnam.

The Army cargo was previously offered to a Mexican-flag ship, which also refused to transport the urgently needed. war materiel.

The cargo is now scheduled to be shipped sometime around September 8 aboard the American-flag freighter Bay State.

Why should the Greek crew balk at doing this job for the United States? Greek-flag ships have received a total of $360,000 from the United States for hauling U.S. cargoes to South Vietnam since the beginning of January of this year.

Furthermore, in case there is any doubt as to the willingness of Greek ships to call in the Vietnam area, 15