tive branch of the Government of the United States, to activate a small but effective citizen's advisory committee, including appropriate representation from the advocates of this plan, with the following authority, functions, and responsibilities:

(1) To initiate and assist in the preparation of enabling legislation designed to accomplish the proposed objectives;

(2) To work out organizational and operating details of the proposed institutional service agencies and to supervise their organization and implementation in the United States;

(3) To approach through appropriate channels foreign governments with a view to implementing the program abroad and assist in the necessary organizational efforts abroad, including indigenous sectors of private enterprise both in the United States and abroad;

(4) This advisory committee to be superseded at an appropriate date by the trustee boards of the respective institutional service agencies.

Funds necessary to accomplish the foregoing to be made available from the operating appropriations of the designated agency of the executive branch of the Government of the United States.

TABULATION OF ANSWERS TO COMMITTEE QUESTIONNAIRES

Prepared by Donald L. Rogers, Assistant Counsel

In connection with the study of the Export-Import Bank under Senate Resolution 25, questionnaires were sent out to various individuals, corporations and organizations in the United States and abroad for the purpose of obtaining a cross-section of opinion concerning the operations of the Export-Import Bank. A total of over 1,420 questionnaires were sent out, and the total replies received numbered 914; 530 of these replies contained meaningful expressions of opinion pertaining to the matters presented in the questionnaires. In order to present the information contained in these replies for the consideration of the members of the Senate Banking and Currency Committee, the following tabulations were prepared.

1. TABULATION OF QUESTIONNAIRES SENT TO CORPORATIONS AND INDIVIDUALS IN THE UNITED STATES AND TO CORPORATIONS, INDIVIDUALS, AND BANKS LOCATED ABROAD

A. Number of questionnaires sent out and replies received:

1. Domestic corporations and individuals:

(a) Total questionnaires _ _

(b) Total replies.-

(c) Total tabulated

2. Foreign corporations and individuals:

(a) Total questionnaires

(b) Total replies

(c) Total tabulated..

3. Foreign banks:

(a) Total questionnaires.
(b) Total replies. -

(c) Total tabulated_

B. General answers: 1

1. Domestic corporations:

(a) General approval..

(b) Critical comment.

2. Foreign corporations and individuals:

(a) General approval..

(b) Critical comment..

3. Foreign banks:

(a) General approval..

(b) Critical comment_

C. Specific answers:

Question 1. The nature or purpose of your contact with the bank.

561

538

312

107

93

75

39

27

20

98

31

11

6

6

1

Answer. Varied according to the individual respondent-not capable of categorical classification.

A number of replies tabulated contained general rather than specific answers to the questionnaires. These replies have been placed in 2 general categories, "General approval" and "Critical comment." The term "General approval" denotes those replies which in general approved the present operations of the bank and also replies which advocated greater lending powers for the bank in the future. The term "Criti cal comment" denotes those replies which were critical of the present operation of the bank and also those replies which advocated future restriction of the bank's activities.

Question 2. If you had correspondence with the bank did you receive prompt and satisfactory replies?

Answer:

Question 3. Have you ever applied for a loan from the Export-Import Bank? Answer:

Question 4 (a). If so, has your application been granted or denied?
Answer:

Question 4 (b). Was it handled in a courteous and expeditious manner?
Answer:

113

Question 5. If a credit was authorized was it administered by the ExportImport Bank in an efficient manner?

Question 6. Have you any specific complaints about the operations of the Export-Import Bank?

Question 7. Has the Export-Import Bank aided or failed in properly financing and facilitating the Export-Import Trade of the United States?

Answer:

Question 8 (a). Has the bank assisted in developing and expanding the economy of foreign countries?

Answer:

Question 8 (b). Has it increased their capacity to purchase United States

exports? Answer:

Question 9. Have you any suggestions for changes or alterations in the policy or operations of the Export-Import Bank?

Answer:

Question 10. Has the Export-Import Bank facilitated the expansion of international trade in the past?

Answer:

II. TARULATION OF QUESTIONNAIRES SENT TO COMMERCIAL BANKS IN THE UNITED

STATES

A. Number of questionnaires sent out and replies received:

2. Total replies.

1. Total questionnaires__

B. General answers (see footnote 1):

3. Total tabulated..

1. General approval.

2. Critical comment

C. Specific answers:

Question 1. Has the Export-Import Bank been of assistance to clients of your bank?

Answer: Yes, 48; No, 14.

Question 2. Has it competed with private capital in your area?

Answer: Yes, 0; No, 63.

Question 3. Has it taken business away from your bank?

Answer: Yes, 0; No, 60.

Question 4. Can the Export-Import Bank use the services of your bank more than in the past?

Answer: Yes, 43; No, 12; No experience, 4.

Question 5. What position has your bank taken with respect to term loans, i. e., where repayment exceeds a term of 6 months?

Answer: Not capable of categorical classification.

Question 6. Are you financing, without recourse, shipments to foreign countries payable over term periods?

Answer: Yes, 9; No, 53.

Question 7. In cases where you have acted for the Export-Import Bank in the operation of credits has your compensation been adequate, taking into consideration the risk factors involved, by the Export-Import Bank as a Federal agency? Answer: Yes, 16; No, 18; No experience, 26.

Question 8 (a). Have you participated with the Export-Import Bank in any of its loans without the latter's guaranty?

Answer: Yes, 21; no, 40.

Question 8 (b). If so, was your experience satisfactory?

Answer: Yes, 21; no experience, 40.

Question 9. Do you consider continuation of the Export-Import Bank's loaning facilities essential in the interest of international trade?

Answer: Yes, 51; no, 2.

Question 10. Has the Export-Import Bank facilitated the expansion of international trade in the past?

Answer: Yes, 46.

III. TABULATION OF QUESTIONNAIRES SENT TO FARM ORGANIZATIONS IN THE UNITED STATES

A total of 76 farm organizations were contacted and requested to answer the questionnaires. Of the 39 replies received, only 16 expressed meaningful expressions of opinion concerning the matters presented in the questionnaire and 3 other answers end sed the position of a national farm organization without expressing an independent opinion. Since the replies covered such a small percentage of the farm organizations contacted, it was not considered worth while to tabulate or classify these answers.

IV. TABULATION OF QUESTIONNAIRES SENT TO LABOR ORGANIZATIONS IN THE UNITED STATES

A total of 300 labor organizations were contacted and requested to answer the questionnaire. Of the 46 replies received, only 10 responded to the questions presented and 26 gave blanket endorsement to the position of their national organization. As a result, it was not considered worth while to tabulate or classify these replies.

V

In addition to the questionnaires sent to the groups listed above, communications were also sent to economists, political experts, trade associations, and chambers of commerce to elicit their opinion. One hundred and thirty-six persons in the economic and political expert group were contacted and 40 replies were received. Ninety of the trade association and chamber of commerce group were contacted and 57 replies received. These replies were so varied as to not be capable of accurate tabulation or classification.

The CHAIRMAN. I have here nine studies prepared for the use of our committee by other private individuals and groups, and I will place these in the appendix to the record, if there is no objection. (See p. 1185.)

Without objection, all this information will go into the record.

I believe that will temporarily close our study of the ExportImport Bank. You will notice that I say "temporarily." We will finish printing the testimony to date.

Now, we will get to the bill that is before us, S. 3589. Before we do that, on behalf of myself personally and every member of this committee, I want to thank you gentlemen who did such fine work in preparing these charts and preparing all the other information because you have really made a record on the Export-Import Bank that will be invaluable as time goes on not only to this Congress but other Congresses. Without a doubt it is the most complete record that has been made of any governmental organization. We appreciate it and we thank you.

That will temporarily close our study. What has been said will be printed as part of the study volume. Now, we will go to the legislation before us. We will ask General Edgerton if he will come forward. (Whereupon, at 11:35 a. m., the committee went on to other business.)