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Printed for the use of the
Committee on Expenditures in the Executive Departments

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COMMITTEE ON EXPENDITURES IN THE EXECUTIVE

DEPARTMENTS

JOHN L. MCCLELLAN, Arkansas, Chairman
JAMES 0. EASTLAND, Mississippi

JOSEPH R. MCCARTHY, Wisconsin
CLYDE R. HOEY, North Carolina

IRVING M. IVES, New York
HERBERT R. O'CONOR, Maryland

KARL E. MUNDT, South Dakota
HUBERT H. HUMPHREY, Minnesota

MARGARET CHASE SMITH, Maine
EDWARD L. LEAHY, Rhode Island

ANDREW F. SCHOEPPEL, Kansas
WILLIAM BENTON, Connecticut

ARTHUR H. VANDENBERG, Michigan
WALTER L. REYNOLDS, Chief Clerk

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CONTENTS

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61

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16

Message from the President of the United States transmitting Reorganiza-

tion Plan No. 1 of 1950 (H. Doc. 505) -

Reorganization Plan No. 1 of 1950-

S. Res. 246.

S. Res. 247

Statement of-

Amberg, Harold V., representing the Reserve City Bankers Associa-

tion; vice president and general counsel, the First National Bank,

Chicago, Ill..
Bennett, Claude E., president, State bank division, American Bankers

Association; president, Tioga County Savings & Trust Co.,

Wellsboro, Pa

Brumbaugh, D. Emmert, chairman, legislative committee, National

Association of Supervisors of State Banks; secretary of banking,

State of Pennsylvania, Harrisburg, Pa--

Buesching, Charles H., past president, Indiana Bankers Association;

president, Lincoln National Bank & Trust Co., Fort Wayne, Ind.--

Capehart, Hon. Homer E., United States Senator from the State of

Indiana

Cocke, C. Francis, chairman, committee on Federal legislation,

American Bankers Association; president, First National Exchange

Bank, Roanoke, Va..

Cooley, H. H., chairman, committee on Federal legislation, Virginia

Bankers Association; vice president and cashier, Round Hill Na-

tional Bank, Round Hill, Va.

Fleming, Robert V., chairman, Government borrowing committee,

American Bankers Association; president, Riggs National Bank,

Washington, D. C..

Gladney, William B., president, national bank division, American

Bankers Association; president, Fidelity National Bank, Baton

Rouge, La
Lawton, Frederick J., Assistant Director, Bureau of the Budget, ac-

companied by Fred E. Levi, administrative analyst -
McCormick, Robert L. L., research director, Citizens Committee for

the Hoover Report--
Maybank, Hon. Burnet R., United States Senator from the State of

South Carolina....

Peterson, F. Raymond, president, American Bankers Association;

chairman of the board, First National Bank & Trust Co., Paterson,

N. J.--

Robertson, Hon. A. Willis, United States Senator from the State of

Virginia ---

Letters, statements, memorandums, etc., submitted for the record by-

Bennett, Claude E., president, State bank division, American Bankers

Association; president, Tioga County Savings & Trust Co., Wells-

boro, Pa.:

Statement of the American Bankers Association.

Statement of policy of the Pennsylvania Bankers Association --

Capehart, Hon. Homer E., United States Senator from the State of

Indiana:

Article from New York Times of April 4, 1950, by George A.

Article from United States Investor of April 8, 1950, National

Banks Need Independence--

Memorandum: Reorganization Plan No. 1 as applied to Office of

the Comptroller of the Currency

Statement.

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26

76

6

8

Mooney

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