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Av. CongRESS. Jennie. Committis or

Expenditures in the Executive Departments,

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COMMITTEE ON EXPENDITURES IN THE

EXECUTIVE DEPARTMENTS
UNITED STATES SENATE
EIGHTY-FIRST CONGRESS

SECOND SESSION

ON

S. Res. 290

DISAPPROVING
Reorganization Plan No. 24 (Transferring the Reconstruction

Finance Corporation to the Department of Commerce)

JUNE 14 AND 15, 1950

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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GOVORU

HG
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.44

A515

1950

Message from the President of the United States transmitting Reorganiza-

tion Plan No. 24 of 1950 (H. Doc. 589)-

Reorganization Plan No. 24 of 1950_-

Senate Resolution 290__

Statement of-

Amberg, Harold V., vice president and general counsel, the First Na-

tional Bank of Chicago; chairman, committee on Federal Relation-

ships, Association of Reserve City Bankers----

Cocke, C. Francis, president, First National Exchange Bank, Roanoke,

Va., chairman, committee on Federal legislation, American Bankers

Association.-

Dougherty, James H., general counsel, Reconstruction Finance Cor-

poration.

Fulbright, Hon. J. William, a United States Senator from the State

of Arkansas.-

Gunderson, Harvey J., Director, Reconstruction Finance Corpora-

tion.--

Levi, Fred F., Division of Administrative Management, Bureau of the

Budget-

McCormick, Robert H. H., research director, Citizens Committee for

the Hoover Report-

Meyer, Eugene, former Chairman, Reconstruction Finance Corpora-

tion---

Sawyer, Hon. Charles, Secretary of Commerce-

Seidman, Harold, Division of Administrative Management, Bureau of

the Budget

Stauffacher, Charles B., Executive Assistant Director, Bureau of the

Budget---

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

Barkley, Hon. Alben W., Vice President of the United States, excerpt

from Congressional Record February 1, 1945, page 6823_

Divorcement of RFC from Department of Commerce discussion of

S. 375, Seventy-ninth Congress, first session:

Folger, Hon. John H., statement from Congressional Record, Feb-

ruary 15, 1945, page 1163..

George, Hon. Walter F., statement from Congressional Record,

February 1, 1945, pages 680-681---

Halleck, Hon. Charles A., statement from Congressional Record,

February 15, 1945, page 1145---

Jenkins, Hon. Thomas A., statement from Congressional Record,

February 15, 1945, page 1164..

McCormack, Hon. John, statement from Congressional Record,

February 15, 1945, page 1146_.

Outland, Hon. George E., statement from Congressional Record,

February 15, 1945, page 1153_--

Robsion, Hon. John M., statement from Congressional Record,

February 15, 1945, page 1164..

Spence, Hon. Brent, statement from Congressional Record, Feb-

ruary 15, 1945, page 1149_

Walsh, Hon. David I., statement from Congressional Record,

February 1, 1945, page 679---

Ford, Peyton, Acting Attorney General, Department of Justice, letter

to J. F. Lawton, dated June 20, 1950_-

Goodloe, John D., Atlanta, Ga., letter dated June 13, 1950, to Hon. J.

William Fulbright--

95

45

73

47

Johnson, Robert H., letter to Robert H. H. McCormick, dated June

12, 1950_---
Lawton, F. J., Director, Bureau of the Budget, letter to Hon. John L.

McClellan, dated June 21, 1950-----
McCormick, Robert H. H., research director, Citizens Committee for

the Hoover Report, statement and appendix.
Review and Outlook—The RFC Should Know, article from Wall Street

Journal, May 29, 1950__.

Schram, Emil, president, New York Stock Exchange, telegram from,

dated June 13, 1950, to Hon. J. William Fulbright--

Snyder, Glenn, article from Wall Street Journal, May 29, 1950, entitled,

"Family Quarrel–RFC Bucks Truman Administration on Plan for

Small Business Aid, Etc."-

Task Force Report on Lending Agencies, excerpt, page 63, Appendix

R, prepared January 1949, with list of advisory committee ----

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REORGANIZATION PLAN NO. 24 OF 1950

WEDNESDAY, JUNE 14, 1950

UNITED STATES SENATE,
COMMITTEE ON EXPENDITURES IN
THE EXECUTIVE DEPARTMENTS,

Washington, D.C. The committee met, pursuant to call, at 10 a. m., Senator John L. McClellan (chairman) presiding.

Present: Senators McClellan, Hoey, Smith, and Schoeppel. Also present: Walter L. Reynolds, chief clerk. The CHAIRMAN. The committee will come to order. We shall proceed with hearings this morning on Senate Resolution 290, introduced by Senator Fulbright, of Arkansas, which proposes the disapproval of Reorganization Plan No. 24. At this point in the record we shall print the President's message of transmittal, the plan, and also Senate Resolution 290, disapproving the plan.

(The material referred to follows:)

[H. Doc. No. 589, 81st Cong., 2d sess.)

MESSAGE FROM THE PRESIDENT OF THE UNITED STATES TRANSMITTING

REORGANIZATION PLAN No. 24 OF 1950

To the Congress of the United States:

I transmit herewith Reorganization Plan No. 24 of 1950, prepared in accordance with the Reorganization Act of 1949. The plan transfers the Reconstruction Finance Corporation to the Department of Commerce. The Corporation will continue to be administered by its Board of Directors and officers but subject to the supervision, coordination, and policy guidance of the Secretary of Commerce.

This reorganization plan is an important additional step in simplifying the organization of the executive branch of the Government and also in making more effective the various Government services to business. In my special message of May 5 to the Congress I stressed the necessity of assuring the most effective coordination of Government aids to small and independent businesses. For this reason I recommended that major responsibility for these programs be placed in the Secretary of Commerce. The need for such unified leadership and coordinated direction is no less essential with respect to our general business programs.

Both the business-loan program of the Reconstruction Finance Corporation and the various services to business provided by the Department of Commerce have the same major purpose—the development of American business and industry. Government aid to business may involve loans, loan insurance, economic and trade information, managerial and technical assistance, or a combination of several of these different types of services. If these various services are to be of the greatest benefit to the business community, unified supervision is necessary. Vesting supervision of the Corporation in the Secretary of Commerce will promote consistent policies and coordinated administration for both the financial and nonfinancial services to business.

By grouping in one agency all the principal services to business, the plan follows a pattern of organization which has proved hightly successful in the areas of

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