House of Representatives

10296 CONGRESSIONAL RECORD'- HOUSE May 11, 1966 Mr. DUNCAN of Tennessee. Mr. the presence among us of many men and HOUSE OF REPRESENTATIVES Speaker, I want to commend the Ameri women who came from the proud land of can Legion on its program "Bells of Rumania and their children and their WEDNESDAY, MAY 11, 1966 America Ringing for Freedom" which is children's children in whose veins courses conducted in each department to cele Rumanian blood. All Americans join The House met at 12 o'clock noon. brate the date this country became an with them in celebration of the national The Chaplain, Dr. Edward G. Latch, independent nation. holiday of Rumania and in the prayers D.D., offered the following prayer: At 2 p.m., eastern daylight time, on that soon Rumania will reign again as a I am the vine, ye are the branches. July 4, 1966, the Liberty Bell will lead the free and sovereign nation. Jle that abideth in me, and I in him, the ringing of bells throughout this land to It was a hundred years yesterday that same bringeth forth much jruit.-John remind America of its freedom and lib Prince Charles of Hohenzollem-Sigmar 15: 5. erty. We will celebrate the 190th birth ingen was proclaimed Prince of Rumania. We thank Thee, our Father, for Thy day of the United States this July. This marked the founding of the Ru spirit which follows us all our days, for I would like to encourage all Ameri manian dynasty. In 1877 the princi · Thy love which will not let us go, and cans to participate in this patriotic pality severed her links with the Otto for the strength of Thy presence which event. man Empire and on May 10, just 15 never lets us down. Help us to open wide years after the founding of the dynasty, the door of our hearts that we may re COMMITTEE ON INTERSTATE AND Charles I was crowned King of Rumania. ceive Thy spirit, welcome Thy love, For 21 years now Rumania has lived claim the strength of Thy presence and FOREIGN COMMERCE unhappily in the midnight darkness of thus be made ready for the experiences Mr. BOGGS. Mr. Speaker, I ask Soviet captivity. On this anniversary we and responsibilities of this day. unanimous consent that the Committee renew our pledge of eternal friendship. By Thy grace may we put goodness on Interstate and Foreign Commerce Mr. Speaker, we will stand by until the ·before evil, truth before falsehood, high may be permitted to sit during general light of day has returned and once again principle before low prejudice, the rights debate today. freedom rings in the proud land of of the weak before the wrongs of the The SPEAKER. Is there objection to Rumania. strong, and may we put Thee above all the request of the gentleman from Loui else, in the ·name of Jesus Christ our siana? Lord we pray. Amen. There was no objection. PARTICIPATION SALES ACT MAY ELIMINATE TAX-EXEMPT STATUS CALL OF THE HOUSE OF LOCAL GOVERNMENT AND THE JOURNAL COLLEGE FACILITY SECURITIES The Journal of the proceedings of Mr. HALL. Mr. Speaker, I make the point of order that a quorum is not Mr. TALCOTT. Mr. Speaker, I ask yesterday was read and approved. present. unanimous consent to address the House The SPEAKER. Evidently a quorum for 1 minute and to revise and extend MESSAGE FROM THE SENATE is not present. my remarks. Mr. BOGGS. Mr. Speaker, I move a The SPEAKER·. Is there objection A message from the Senate by Mr. call of the House. to the request of the gentleman from Arrington, one of its clerks, announced A call of the House was ordered. California? that the Senate had passed, without The Clerk called the roll, and the fol There was no objection. amendment, a bill of the House of the lowing Members failed to answer to their Mr. TALCOTT. Mr. Speaker, in my following title: names: opinion, the proposed Participation Sales H.R. 14732. An act to authorize appro (Roll No. 93] Act of 1966, H.R. 14544, is being rushed priations to the Atomic Energy Commission Abernethy Fogarty Morse and railroaded through the Banking and in accordance with section 261 of the Atomic Adair Fraser Morton Currency Committee, Rules Committee, Energy Act of 1954, as amended, and for Ashley Frelinghuysen Moss and the Congress because it is a bad bill other purposes. Baring Griffin Murray Blatnik Hagan, Ga. Nix and cannot withstand deliberation, de The message also announced that the Bolton Helstoski Pickle bate, or exposure. Senate had passed, with amendments in Bradema.s Henderson Pool The bill was hastily concocted to hide Brock Hull Powell which the concurrence of the House is Burleson Hutchinson Rivers, S.C. the growing Federal deficit, the increas requested, a bill -of the House of the fol Callaway Johnson, Pa. Rodino ing national debt, and the accelerating lowing title: Carter Kee Rooney, N.Y. administration expenditures. Casey Kelly Rosenthal H.R. 11439. An act to provide for an in Cederberg King, Utah Rumsfeld Not only will the taxpayer pay dearly crease in the annuities payable from the Chelf Kupferman Shrive;: to permit the administration to conceal District of Columbia teachers' retirement Conyers McEwen Sullivan growing deficits, debts and spending, but and annuity fund, to revise the method of Corman McMillan Sweeney other important consequences are likely determining the cost-of-living increases in Daddario Madden Toll Diggs Mailliard Tuppe1· to follow. such annuities, and for other purposes. Dorn Martin, Ala. Utt Today, certain securities held by the Dowdy Mathias White, Idaho The message also announced that ·the Duncan, Oreg. Michel Whitten Community Facilities Administration, Senate agrees to the report of the com Ellsworth Monagan Williams and other Federal agencies which lend mittee of conference on the disagreeing Findley Moorhead Willis to local governments and colleges, are votes of the two Houses on the amend The SPEAKER. On this rollcall 362 tax exempt. This tax-exempt policy ments of the Senate to the bill <H.R. Members have answered to their names, a was designed to encourage this very nec 14012) entitled "An act making supple quorum. essary investment in local government mental appropriations for the fu;cal year By unanimous consent, further pro and education. ending June 30, 1966, and for other pur ceedings under the call were dispensed The proposed FNMA participation poses." with. sales would permit the pooling of tax exempt securities with taxable securi BELLS OF AMERICA RINGING FOR ties. RUMANIA AGAIN WILL BE FREE The FNMA participation certifl.cate FREEDOM Mr. O'HARA of Tillnois. Mr. Speaker, would bear taxable interest even though Mr. DUNCAN of Tennessee. Mr. I ask unanimous consent to extend my some of the underlying pooled securi Speaker, I ask unanimous consent to ex remarks at this point in the RECORD. ties are tax exempt. tend my remarks at this point in the The SPEAKER. Is there objection This may be unconstitutional. This RECORD. to the request of the gentleman from may be the first step on the part of the The SPEAKER. Is there objection Illinois? Treasury Department and the Johnson to the request of the gentleman- from There was no objection. Humphrey administration to eliminate TP.nnessee? Mr. O'HARA of Ill1nois. Mr. Speaker, tax exemption on certain local and edu There was no objection. our beloved country has been enriched by cational investments. May 11, 1966 CONGRESSIONAL .RECORD- HOUSE 10297 The proposal to substitute a Federal in those of the multiple corresponding State Mr. BOLLING. Mr. Spe.aker, I yield guarantee for the tax-exempt status of banks. 30 minutes to the gentleman from Cali State and local government bonds may The buying power of four national banks fornia [Mr. SMITH] and, pending that, are becoming too much competition for the be another threat to tax immunity. The little agents as an example shown here in In myself such time as I may consume. increased costs inherent in this proposal dianapolis alone. On account of the over Mr. Speaker, those who listened to the may seriously hamper the ability of local whelming concentration of position in the reading of the resolution know that this governments and colleges to meet the travel field, that is to say, direct mailing lists, is a 1-hour open rule dealing with im increasing demands placed upon them service of their research departments, in proved health benefits for retired mem to provide public facilities. fluence of their loan departments, which bers and members of the uniformed serv theoretically enables them to loans subject If your communities or colleges have ices and their dependent~. Frankly, I to doing business with the banks travel de borrowed from th~ Community Facili partment. know of no oontroversy on the rule nor ties Administration, I suggest you obtain ARTA feels that the time has come that on the bill. Therefore, Mr. Speaker, I better answers than I have been able to steps be taken to restrict banks from driving reserve the balance of my time. obtain about this participation sales pro all travel agents to the brink of bankruptcy. Mr. SMITH of California. Mr. Speak posal or it might CO!lle back to haunt We'd appreciate if you can give this mat er, I yield myself such time as I may use. you. ter your close attention. Hoping to hear Mr. Speaker, as stated by the distin from you soon. guished gentleman from Missouri, House This is only one of dozens of unan Sincerely, swered questions about H.R. 14544. OTHMAR G.

Load more