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Appropriation Bill, 1937
SUBCOMMITTEE OF THE
UNITED STATES SENATE
H. R. 10919
AND FOR OTHER PURPOSES
Printed for the use of the Committee on Appropriations
WASHINGTON : 1936
SUBCOMMITTEE OF THE COMMITTEE ON APPROPRIATIONS
CARTER GLASS, Virginia, Chairman KENNETH MCKELLAR, Tennessee
FREDERICK STEIWER, Oregon MILLARD E. TYDINGS, Maryland
PETER NORBECK, South Dakota
L. J. DICKINSON, Iowa
Ex OFFICIO MEMBERS FROM COMMITTEE ON POST OFFICES AND Post ROADS
TREASURY AND POST OFFICE DEPARTMENTS
APPROPRIATION BILL, 1937
MONDAY, FEBRUARY 24, 1936
UNITED STATES SENATE,
Present: Senators Glass (chairman), McKellar, and McAdoo.
Senator McKELLAR. I will put in the record a letter from the Secretary of the Treasury dated February 13, 1936. (The letter referred to is as follows:)
Washington, February 13, 1936. MY DEAR MR. CHAIRMAN: In response to your letter of February 6, 1936, with respect to the Treasury appropriation bill for the fiscal year 1937, H. R. 10919, I submit the following recommendations for amendments, which I hope the Senate Appropriations Committee may find it appropriate to adopt. The recommendations contained herein only cover such items as are regarded by this Department as of imperative necessity for the efficient conduct of the Department.
Page 5, line 3, strike out "1,000,000” and insert "$1,099,140."
The amount of $1,000,000 contained in the bill under "Expenses, Emergency Banking, Gold Reserve, and Silver Purchase Acts” for the Mint Service is $99,140 less than the estimate of $1,099,140 for this purpose submitted in the Budget. Every effort was made to reduce the estimate to the lowest possible minimum, and it is believed that any further reduction will seriously interfere with the carrying out of the various Mint Service functions under the Gold Reserve and Silver Purchase Acts. The great volume of gold and silver transactions incident to these acts is continuing, and there is no present evidence of any substantial reduction in such activities.
The licensing of all dealers in and handlers of gold in the United States has placed a new and important function with the Mint Service; one which, in the Bureau alone, requires a staff of 36 clerks; another unit in the Bureau dealing with matters relating to silver requires 4 clerks, all this the direct result of new monetary policies. The Gold Unit, as now organized, is inadequate to handle the work required of it, much overtime service being necessary. Approximately 50,000 cases are in the live files of the Gold Unit, and the correspondence relating to them is enormous. An average of approximately 750 letters a day coming in must be considered and answered.
There is submitted a table showing the increase in the number of deposits of gold and silver during the fiscal year 1935 over the year prior to the initiation of the President's policies :