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SENATE-Thursday, November 4, 1971 the Senate Met at 12 Meridian and Was the Diplomatic and Foreign Service, Growth During the Year

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SENATE-Thursday, November 4, 1971 the Senate Met at 12 Meridian and Was the Diplomatic and Foreign Service, Growth During the Year 39202 CONGRESSIONAL RECORD - SENATE November 4, 1971 SENATE-Thursday, November 4, 1971 The Senate met at 12 meridian and was the diplomatic and Foreign Service, growth during the year. It was not antici­ called to order by the President pro tem­ which had been placed on the Secretary's pated that FSLIC reserves would fall to 1.75 until 197!3 or 1974--by which time the Con­ pore (Mr. ELLENDER). desk. gress would have worked out a more perma­ The PRESIDENT pro tempore. With­ nent and stable method of maintaining an out objection, the nominations are con­ adequate FSLIC financial structure. There PRAYER sidered and confirmed en bloc; and, with­ has been, however, an extraordinary increase The Chaplain, the Reverend Edward out objection, the President will be in insured savings in 1971 (which has been L. R. Elson, D.D., offered the following immediately notified of the confirmation extremely helpful in stimulating home build­ of these nominations. ing) and the reserve ratio may drop to 1.75 prayer: or slightly below by December 31, 1971. The God of grace and God of glory, to whom reserve ratio decline is solely the function a thousand years are but as 1 day, we of the increase in savings and does not re­ pray that we may live in the light of LEGISLATIVE SESSlON flect a reduction of dollar reserves. By changing the 1.75 in existing law to past wisdom with faith in Thee to labor Mr. MANSFIELD. Mr. President, I 1.60, the triggering of the prepaid premiums for the new world yet to come. Looking move that the Senate resume the con­ can be postponed for a year, giving Congress backward, may the past warn us by its sideration of legislative business. enough time to review this matter and time failures, instruct us by its successes, in­ The motion was agreed to, and the to devise a permanent system for genera.ting spire us by its sacrifices. Looking forward, Senate resumed the consideration of FSLIC reserves. This amendment would may we behold the ultimate world of jus­ legislative business. leave the FSLIC reserves at a very adequate tice, peace, and righteousness. Looking level-substantially above the 1.25 reserves upward, may we find in Thee the source existing for the Federal Deposit Insurance of our strength and the power for Corporation. achievement. Make this body one in pur­ AMENDMENT TO THE NATIONAL No objection has been expressed to this HOUSING ACT amendment, the effect of which is simply to pose and in dedication to the people's prevent an unanticipated diversion of sev­ welfare, that it may speak where they Mr. MANSFIELD. Mr. President, I eral hundred million dollars of housing funds would speak, act where they would act, ask unanimous consent that the Senate from prepaid premiums which are not neces­ and in all things great and small do that proceed to the consideration of Calendar sary. which is pleasing in Thy sight. No. 416, S. 2781. The committee recommends favorable con­ We pray in the Redeemer's name. The PRESIDENT pro tempore. The bill sideration of this bill by the senate. Amen. will be stated by title. The ass>istant legislative clerk read as follows: PROGRAM FOR THE REMAINDER THE JOURNAL s. 2781, to am.end section 404(g) of the OF THIS SESSION Mr. MANSFIELD. Mr. President, I ask National Housing Act. Mr. MANSFIELD. Mr. President, for unanimous consent that the reading of The PRESIDENT pro tempore. Is there the information of the Senate, it is antic­ the Journal of the proceedings of objection to the present consideration ipated that the next order of business Wednesday, November 3, 1971, be dis­ of the bill? at the conclusion of the morning hour pensed with. There being no objection, the Senate today will be S. 1977, a bill to establish The PRESIDENT pro tempore. With­ proceeded to consider the bill, which was the Oregon Dunes National Recreation out objection, it is so ordered. ordered to be engrossed for a third read­ Area in the State of Oregon, and for ing, was read the third time, and passed, other purposes. This will be followed by COMMI'ITEE MEETINGS DURING as follows: H.R. 5060, an act to amend the Fish and SENATE SESSION Be it enacted by the Senate and House of Wildlife Act of 1956, and so forth. Representatives of the United States of That will conclude the business for Mr. MANSFIELD. Mr. President, I ask America in Congress assembled, today. unanimous consent that all committees SECTION 1. Section 404(g) of the National It is the intention of the joint lead­ may be authorized to meet during the Housing Act is amended by striking out "1%" and substituting in ldeu thereof "1%", ership at that time to lay before the .session of the Senate today. Senate S. 986, the so-called wan·anties The PRESIDENT pro tempore. With­ Mr. MANSFIELD. Mr. President, I ask bill, which will be taken up tomorrow . •out objection, it is so ordered. unanimous consent to have printed in Whether that bill can be completed to­ the RECORD an excerpt from the report morrow remains to be seen. If not, (No. 92-420), explaining the purposes of my guess is that Monday will be the the measure. time when it is finally disposed of, if EXECUTIVE SESSION There being no objection, the excerpt then. Mr. MANSFIELD. I ask unanimous was ordered to be printed in the RECORD, Following that, the Senate will take .consent that the Senate go into executive as follows: up the agreement with Japan concern­ session to consider nominations on the PURPOSE OF LEGISLATION ing the Ryukyu Islands and the Daito Executive Calendar, under "New Re­ The purpose of this amendment is to pre­ Islands. ·ports." vent an unintended call for prepaid pre­ Mr. President, I ask unanimous con­ There being no objection, the Senate miums to the Federal Savings and Loan In­ sent that on Tuesday next, November 9, proceeded to the consideration of execu­ surance Corporation by member savings and 1971, when the Senate convenes, the tive business. loan associations. Unless amended, the pres­ treaty be made the pending business. The PRESIDENT pro tempore. The ent law, that is section 404(g) of the Nation­ The PRESIDENT pro tempore. Is there nominations on the Executive Calendar al Housing Act, would require savings a.nd objection to the request of the Senator loan associations to divert up to $400 million will be stated. of housing funds into payment of prepaid in­ from Montana? The Chair hears none, surance premiums. and it is so ordered. Mr. MANSFIELD. Mr. President, fol­ BACKGROUND lowing the disposal of the Japanese NOMINATIONS PLACED ON THE Present law requires that if the ratio of treaty, it is anticipated that the tax SECRETARY'S DESK-IN THE the Federal Savings and Loan Insurance Cor­ poration reserves to insured savings falls be­ package requested by the administration DIPLOMATIC AND FOREIGN SERV­ will be available and, at about the same ICE low 1.75 by December 31, of a given year, member savings and loan associations are time, the phase II package will be ready The assistant legislative clerk pro­ required to commence prepaid insurance for consideration by the Senate. ..ceeded to read sundry nominations in premiums equal to 2 percent of their savings After that, of course, we have other November 4, 1971 CONGRESSIONAL RECORD-SENATE 39203 legislation, but we cannot lose sight of to be in session the remaining two Sat­ sent that it be printed at this point in the the two Supreme Court nominations urdays prtor to Thanksgiving Day, if we RECORD. which should be reported to the Senate, hope to get out sine die by Thanksgiv­ There being no objection, the editorial I would hope, by the end of next week. ing Day or no later than December 1, was ordered to be printed in the RECORD, There are also four appropriation 1971? as follows: bills, sundry conference reports, a for­ Mr. MANSFIELD. Yes, indeed. I am BACK TO THE DRAWING BOARD eign aid bill, and perhaps the equal op­ glad the distinguished majortty whip, The U.S. Senate shocked the President, portunities bill, so-called, an act to the Senator from West Virginia (Mr. much of the world and Usel! Friday when it further promote equal opportunities for BYRD ) , has brought that out, because he voted to kill the $3.5 billion foreign aid au­ American workers. has reminded me of an agreement which thorization bill. The shock may well prove Then, of course, there is the Voter we have had among the joint leadership to sting less than it invigorates. Registration Act, which was ordered re­ that while we will not meet this Satur­ It was about time the Senate took a hard look a.t the U.S. foreign aid program, which ported by the Committee on Post Office day, because the calendar will be pretty is based on policies and practices conceived and Civil Service yesterday or the day well cleared up, beginning next Satur­ during the chillier moments of the Cold War before. day and every Saturday from there on and frozen rigid ever since. The bills have All of these matters, Mr. President, out, as long as we are in session, if it is come down every year reflecting the bureau­ may or may not be brought up at this not too long, we will meet, because we do cratic Echizophrenia of a policy that seeks session, but I believe the Senate should have the two Supreme Court nomina­ simultaneously the preservation of the status be placed on notice and should under­ tions and we do have the four appropri­ quo and economic and sccial change.
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