SPECIAL COMMITTEE ON POST-WAR ECONOMIC POLICY AND PLANNING HOUSE OF REPRESENTATIVES SECOND SESSION PURSUANT TO H. Res. 408.... A RESOLUTION CREATING A SPECIAL COMMITTEE ON 99579 MARCH 15, 16, 21, 22, 28, APRIL 13, 17, 18, 19 CONTRACT TERMINATION AND RELATED MATTERS Printed for the use of the Special Committee on Post-War UNITED STATES CONTENTS Hancock, John_M., resumed_. Clayton, Wm. L., Surplus War Property Administrator_. Batt, William L., chairman, National Planning Association Hoffman, Paul G., chairman, board of trustees, committee for eco- Johnston, Eric A., president, Chamber of Commerce of the United 7 Statement of Matthew Woll, Chairman, A. F. of L. Com- mittee on Post-War Planning (Hearings on April 4, 1944 POST-WAR ECONOMIC POLICY AND PLANNING WEDNESDAY, MARCH 15, 1944 HOUSE OF REPRESENTATIVES SPECIAL COMMITTEE ON POST-WAR ECONOMIC POLICY AND PLANNING, The special committee met, pursuant to notice, at 10:30 a. m., in room 1501 New House Office Building, Hon. William M. Colmer (chairman) presiding. Present: Representatives Colmer (chairman), Cooper, Thomason, Walter, Zimmerman, Voorhis, Murdock, Lynch, O'Brien, Fish, Reece, Welch, Wolverton, Hope, and Dewey. The CHAIRMAN. The committee will come to order. We have Mr. John M. Hancock here this morning as the first witness before the committee in open session. I am sure he is known to the committee and to the country. Of course, we think of Mr. Hancock principally these days when we are thinking of post-war problems in connection with the Baruch-Hancock report. I don't think there is any necessity for further introduction of Mr. Hancock, but for the record I will give a short résumé as to his experience and background: From October 1914, to October 1919, he had immediate charge of purchasing of naval supplies and toward the end, the termination of contracts, not only in this country but abroad as well, in company with The Assistant Secretary of the Navy at that time. During the last war he was a member of Price Fixing Committee, appointed by Secretary Daniels and of the Requirements Division of War Industries Board, appointed by Secretary Daniels. He resigned from the Navy in October 1919, when all contracts were settled, except one that went to the Court of Claims for settlement. He began work in civil life in October 1919, as a vice president of Jewel Tea Co., Inc., in Chicago and remained as an operating executive until August 1924, when he became a partner of Lehman Bros., an industrial banking firm in New York. In 1939 he was a member of War Resources Board. Mr. Hancock, we would like for you to make a statement to the committee primarily covering those things in the report which you and Mr. Baruch have made for the President, emphasizing those points that you think should be emphasized, with reference to the things that should be done by this committee first; and I am going to suggest that in making your general statement you be not interrupted until you have finished, at which time the members of the committee, I am sure, will want to ask you some questions. Mr. Hancock. |