Reorganization Plan No. 24 of 1950: Hearings Before the 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, 1950United States. Congress. Senate. Committee on Expenditures in the Executive Departments, United States. Congress. Senate. Committee on Government Operations U.S. Government Printing Office, 1950 - 96 pages |
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Page 7
... thing need be concluded before we can make up our minds and have a report on the probable legislation , that is , the proposed legislation . The CHAIRMAN . You are probably not prepared to make a definite statement , but as far as you ...
... thing need be concluded before we can make up our minds and have a report on the probable legislation , that is , the proposed legislation . The CHAIRMAN . You are probably not prepared to make a definite statement , but as far as you ...
Page 10
... thing for a lending agency , which is wrong . I think it is basically wrong and should not be confirmed and encouraged but should be clarified and stopped . Take the present example . It is not as clear as the subsidy for copper , we ...
... thing for a lending agency , which is wrong . I think it is basically wrong and should not be confirmed and encouraged but should be clarified and stopped . Take the present example . It is not as clear as the subsidy for copper , we ...
Page 12
... thing he can do is review it under the Corporation Audits Division and come up and advise the Congress usually 2 or 3 years later , that this particular loan in his opinion may go beyond the authority of law . But that is all he can do ...
... thing he can do is review it under the Corporation Audits Division and come up and advise the Congress usually 2 or 3 years later , that this particular loan in his opinion may go beyond the authority of law . But that is all he can do ...
Page 15
... thing , it is something that the Members of the Senate are too busy to pay attention to until something occurs which sort of shocks you into making an investigation . The CHAIRMAN . Let me ask you , in that connection , would this plan ...
... thing , it is something that the Members of the Senate are too busy to pay attention to until something occurs which sort of shocks you into making an investigation . The CHAIRMAN . Let me ask you , in that connection , would this plan ...
Page 16
... thing in this country , progressing as we are , to give one man or maybe two men political influence over the great financial structure of this country ? Senator FULBRIGHT . I most certainly do not . That is really the basis of my ...
... thing in this country , progressing as we are , to give one man or maybe two men political influence over the great financial structure of this country ? Senator FULBRIGHT . I most certainly do not . That is really the basis of my ...
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Common terms and phrases
activities administration agriculture American Bankers Association authority Banking and Currency basic believe Board of Directors borrowers Budget business loans Cabinet officer certainly CHAIRMAN Commerce Department Congress Congressional coordination Currency Committee Department of Commerce direct loans effect executive branch Executive Departments Federal Business Enterprises Federal Loan Administrator Federal Reserve functions funds give Government corporations GUNDERSON hearings Hoover Commission housing independent agency independent board interpretation investigation Jesse Jones legislation lending agencies lending powers major matter MCCORMICK ment merce MEYER operations opinion organization policy guidance present President President's programs purpose question reason recommendation Reconstruction Finance Corporation record Reorganization Plan report on Federal responsibility RFC Board RFC's Secre Secretary of Commerce Secretary SAWYER seems Senator FULBRIGHT Senator MUNDT Senator SCHOEPPEL small business specific statement status STAUFFACHER supervision thing tion transfer Treasury Department vested words
Popular passages
Page 2 - Prepared by the President and transmitted to the Senate and the House of Representatives in Congress assembled, April 24, 1958, pursuant to the provisions of the Reorganization Act of 1949, approved June 20, 1949, as amended CIVILIAN MOBILIZATION SECTION 1.
Page 94 - Interior may from time to time make such provisions as he shall deem appropriate authorizing the performance by any other officer, or by any agency or employee, of the Department of the Interior of any function of the Secretary, Including any function transferred to the Secretary by the provisions of this reorganization plan.
Page 51 - Direct lending by' the Government to persons or enterprises opens up dangerous possibilities of waste and favoritism to individuals or enterprises. It invites political and private pressure, or even corruption. Emergencies may arise in depression, war, national defense, or disaster which must be met in this way. But direct lending should be absolutely avoided except for emergencies.
Page 91 - Chairman, and three additional persons appointed by the President of the United States by and with the advice and consent of the Senate. Of the five members of the Board, not more than three shall be members of any one political party.
Page 94 - That the management of the Corporation shall be vested in a board of directors, consisting of...
Page 69 - Corporation) does not alter its characteristics so as to make it something other than what it actually is, an agency selected by the government to accomplish purely governmental purposes.
Page 56 - The numerous agencies of the executive branch must be grouped into departments as nearly as possible by major purposes in order to give a coherent mission to each department.
Page 52 - Act, as amended, is amended — ( 1 ) by striking out the period at the end of "paragraph (5) "and inserting in lieu thereof "; and"; and (2) by adding after paragraph (5) a new paragraph as follows: "(6) to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to assist...
Page 55 - The executive branch is not organized into a workable number of major departments and agencies which the President can effectively direct, but is cut up into a large number of agencies which divide responsibility and which are too great in number for effective direction from the top.
Page 6 - Attempts to influence the business judgments of RFC by the use of political influence, even though well intended, are a constant menace to sound administration. While the general policies of the RFC, like those of other Government agencies, should be reviewed and coordinated by the President, this general review should not extend to particular loans. The business decisions of RFC should be the independent judgments of its Board of Directors.