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Summary of exceptions to transactions of the Tennessee Valley Authority-Con.

FISCAL YEAR 1935—Continued

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Summary of exceptions to transactions of the Tennessee Valley Authority-Con.

FISCAL YEAR 1936

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Summary of exceptions to transactions of the Tennessee Valley Authority-Con.

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Summary of exceptions to transactions of the Tennessee Valley Authority-Con.

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Summary of exceptions to transactions of the Tennessee Valley Authority-Con.

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The CHAIRMAN. Now, Mr. Lilienthal, do you desire to make a statement, sir?

STATEMENT OF HON. DAVID E. LILIENTHAL, DIRECTOR, TENNES

SEE VALLEY AUTHORITY, KNOXVILLE, TENN. Mr. LILIENTHAL. Mr. Chairman, and gentlemen of the committee, I will not take the committee's time to go over the ground that the Comptroller General has covered. His statement, as you would expect, is accurate and fair, and states the substance of the discussion between the Comptroller General, myself, Mr. Fitts, and his staff.

This amendment, which he has read to you, and which we believe to be a workable and desirable amendment under the circumstances, recognizes the T. V. A.'s duty to render accounting which is the point that the Comptroller General was most concerned about, the question of the jurisdiction to render accounting.

At the same time, pursuant to the Comptroller General's expressed interest in giving to the T. V. A., because of the nature of its responsibilities, the freedom and initiative of a private enterprise, as the T. V. A. was described in the conference committee report, the report made by this very committee, when the bill was passed, the language has been put in here that will effectuate that purpose.

Therefore, we believe it is entirely workable and while again we repeat that we believe the original provision of the law is preferable

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