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been brought up in the testimony of this morning, and it seems to me to undercut the testimony of this morning because the President has the responsibility. The Secretary of the Treasury is his appointee, and the President is merely exercising a responsibility which he now has in putting this particular officer more clearly and sharply defined under the Secretary of the Treasury.

Mr. MCCORMICK. There has been a great deal of law on that matter, Senator. There are many officials who have been appointed for specified terms. I believe the Comptroller of the Currency is one. But also I do not believe that this principle ever has been denied in the case of an executive agency official. When the President has fired someone, any executive official, even when there is a term of office, I do not believe that the courts have ever upheld the executive official.

Senator BENTON. I think that is one of the most important pieces of testimony this morning, Mr. Chairman, and I think it adds greatly to this hearing.

The CHAIRMAN. Are you an attorney?

Mr. MCCORMICK. No, sir.

The CHAIRMAN. You wouldn't want to take the responsibility, then, would you, for passing on that important legal question?

Mr. MCCORMICK. No, sir. I think that would require a legal opinion, but that is my understanding of the principle.

The CHAIRMAN. I am not saying your opinion is in error, but I just wondered if you were an attorney and had looked into it as an attorney and were prepared to express a legal opinion.

Mr. AMBERG. Just for the sake of the record-May I speak?

The CHAIRMAN. Just a moment. Let us conclude with Mr. McCormick.

Mr. MCCORMICK. I would like to make one other observation, if I could, sir.

The CHAIRMAN. Yes, indeed.

Mr. MCCORMICK. I would like to add that these statements that the Hoover Commission didn't know anything about the Comptroller, that it only talked to him for 30 minutes and that whoever did talk to him did so for only 30 minutes, are naive. Mr. Hoover himself was President of the United States for 4 years. He certainly understands the Comptroller's position, and Mr. Acheson, the vice chairman, was Under Secretary of the Treasury. I thank you sir.

Senator LEAHY. Did they ever get the position of the banks on this question, the thought of the banks on this question?

Mr. MCCORMICK. I am unable to answer that question, sir.
The CHAIRMAN. Mr. Amberg, did you wish to speak?

Mr. AMBERG. On Senator Benton's question about the appointment of the Comptroller, under the law he is appointed for a 5-year term by the President, confirmed by the Senate, of course, subject to removal by the President, "upon reasons to be communicated by him to the Senate."

Senator BENTON. Any man I could fire for reasons that I could communicate, I think I control, out of my own background at any


The CHAIRMAN. That statute probably settles the question.

We wish to thank on behalf of the committee all witnesses who have appeared this morning for your spirit of cooperation in making your testimony brief and to the point, and helping us to expedite these hearings.

As far as I know, the hearings on these two resolutions are now closed, but if anyone has a statement he might wish to file for the record, we will reserve the right to pass on that at the time as to whether it will be published as a part of the hearing.

(Whereupon, at 12:20 p. m., hearing in the above-entitled matter was closed.)

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