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Exten.Sions of Re-Marks Hon 1957 ~ONGRESSIONAl RECORD - HOUSE 1607 -EXTEN .SIONS OF RE-MARKS free Marketing of Domestic Newly Mined action of gold, why should we not do the tober 13, 1783, Congress made him a same? Several countries, notably South brigadier general. Gold Africa, have brought great pressure upon Having served this country and its the International Monetary Fund to cause successfUlly and brilliantly, in July EXTENSION OF REMARKS break away from the $35 per ounce price. of 1784 he returned to his native land, OF Mr. Speaker, I wish to call to the at­ hoping to carry on the fight for her free­ tention of the Members that gold is dom. For more than 20 years he con­ HON. GRACIE PFOST grossly underpriced. Should the domes­ tinued his brave but unfortunately futile OF IDAHO tic free market price of newly mined efforts for Poland's freedom and died in IN THE HOUSE OF REPRESENTATIVES gold rise above the Treasury price it exile in Switzerland in 1817. Wednesday, February 6, 1957 would provide additional revenue for On the 211th anniversary of his birth­ Mrs. PFOST. Mr. Speaker, on the those many mines which produce gold day, we solemnly honor his noble mem­ opening day of this session I introduced as a byproduct of mining base metals ory. We do this not only because he a bill to permit the free marketing of and would thus help to defray the rising fought for our independence,.but also be­ domestic newly mined gold. · For the costs of operation. cause he was a vigorous champion of the benefit of other Members, and the many Mr. Speaker, I earnestly hope that the universal cause of human freedom as people from all over the United States Banking and Currency Committee will long as he lived. who are writing me to express interest in hold a hearing and give the gold miners this legislation, I would like to explain and others a chance to testify and tell briefly why I have introduced the bill us their problems. There is an appalling and what it would do. situation in the gold mining industry The Eisenhower Middle East Doctrine As you know, innumerable bills have today, and steps must be taken to revive been introduced in the House or the Sen­ the industry and place it on a business­ ate during the past decade to increase like basis. If this bill is not considered EXTENSION OF REMARKS the value of gold, to permit the free· coin­ feasible, perhaps a new one satisfactory OF age of gold, to restore convertibility, to to the Treasury Department can be allow our gold to circulate freely in world written around it in committee after in­ HON. CHARLES A. VANIK markets and for other purposes. With­ dustry and Government witnesses have OF OHIO out exception these bills have been ad­ thrashed the matter out. I have pointed IN THE HOUSE OF REPRESENTATIVES out the way by introducing the bill. versely received by the Treasury Depart­ Wednesday, February 6, 1957 ment and each one has been protested to the Banking and Currency Commit­ Mr. VANIK. Mr. Speaker, there are a tees by the Treasury and the Bureau of few Members of the House of Represent­ the Budget, and has died in committee. Thaddeus Kosciusko : Hero of the Ameri­ atives who may feel that they have had My bill was drawn after a careful can Revolution (1746-1817) something to do in formulating this Na­ study of the objections which the Treas­ tion's foreign policy by a vote for or ury Department has registered to the against the Eisenhower Middle East Doc­ previous gold bills. While it does not go EXTENSION OF REMARKS trine. During the next several weeks, all the way in doing what the hard­ OF several Members of the other body may money people and the free-gold people sense their great participation. eventually want to do, it opens the whole HON. DANIEL J. FLOOD The cruel fact is that Congress has had subject up for discussion. OF PENNSYLVANIA very little indeed to say about the im­ · It is ha.rd to see what material objec­ IN THE HOUSE OF REPRESENTATIVES plications and far-reaching effects of the tions the Government can have to this Wednesday, February 6, 1957 commitments being made right now. measure, as it only affects gold newly Last Wednesday evening, at the White mined in the United States after the act Mr. FLOOD. Mr. Speaker, Thaddeus House, the King of Saudi Arabia and 1.6 becomes law, and there will be no effect Kosciusko was one of those brave and members of his family and royal en­ whatever on the monetary stocks of gold restless Polish fighters for freedom who tourage dined at a state dinner for men at Fort Knox. No price is named in the was so strongly motivated by a love of only, oil men, to be exact. Among the bill and the relationship of gold to the liberty that he would go anywhere and out-of-town guests were Stephen D. United States currency therefore is not take part in any battle provided it was Bechtel, president ·and chairman of affected. There are no provisions for ex­ for a righteous cause. It was this feel­ Bechtel Co., of San Francisco; Fred A. port so the Government does not have ing which brought him to America not Davies, president and board chairman of to worry about this gold traveling out of long after our Revolutionary War had be­ the Arabian-American Oil Co., of New the country where it might disturb the gun. He arrived in Philadelphia in Au­ York; William T. Faricy, president of the international monetary situation, un­ gust of 1776 and immediately applied American Railroad Association; Ralph less it were smuggled out and no one for military service. He was admitted G. Follis, president and board chairman would take that risk unless there were a and charged with the drawing up of of Standard Oil, California, and Brewster very considerable difference between the plans for fortifying the Delaware River. Jennings, president and board chairman free gold market price here and that The success of this work earned him a of Socony Mobil Oil of New York. abroad. Various blocs and embargoes commission as colonel of engineers in the Also among those present was William imposed by other countries would not be Continental Army. L. Kleitz, president of Guaranty Trust violated. Jewelers and other fabricators In the spring of the following year, he Co. of New York; Augustus C. Long, or processors of gold in this country joined the Northern Army at Ticon­ chairman of the board of Texas Co., New would haye the option of buying through deroga. Later the fortifications he York, John J. McCloy, chairman of the their present channels or on the free erected at Saratoga contributed greatly board, Chase Manhattan Bank; Harry domestic market, whichever they might to the brilliant victory of our forces W. Morrison, president of Morrison­ prefer. there. During the next 2 years he Knudsen of Boise, Idaho; Warren L. Newly mined, untreated, domestic was placed in charge of the building of Pierson, board chairman, Trans World placer gold may be sold freely on the fortifications at West Point. Subse­ Airways of New York; Monroe J. Rath­ domestic market at the present time-­ quently, he took part in the battle of bone, president Standard Oil of New why then not newly. mined gold from Charleston, and was among the first of Jersey, of New York; Howard C. Sheperd, other sources? Canada has recently the Continentals to enter that city after board chairman, First National City eliminated restrictions on the trans- its evacuation by the British. On Oc- Bank, New York. 1608. CONGRESSIONAL RECORD - HOUSE February 6. · In between niblets of beef tenderloin with a long arm. It is an honor to salute eral Government and $115,000 by the and savarin, the boys probably discussed the Boy Scouts of America for their local interests. The estimated charges ways and means of keeping the King unselfish participation in United States after completion will be $40,000, of solid on his throne, to insure that a re­ foreign aid-at no Government expense. which $15,800 is Federal and $24,200 negotiation of his oil royalty contracts will be locally provided. with American financial interests need This cost is more than justified when not occur. compared to the estimated annual bene­ One very likely commitment being en­ Flood-Control Measures for Weber fits from the project, $264,000, particu­ tered into by our Government is a com­ Basin, Utah larly when it is realized that the 1952 mitment to both King Saud and to the flood caused more than $1,600,000. American-Arabian Oil Co., and/ or their associates that our Government will pre­ EXTENSION OF REMARKS serve the integrity of the oil contracts OF between Saudi Arabia and American in­ Social Security for the Disabled vestment interests. Never has the word HON. HENRY ALDOUS DIXON OF UTAH ''integrity" received such blasphemous EXTENSION OF REMARKS use. IN THE HOUSE OF REPRESENTATIVES Wednesday, February 6, 1957 OF HON. AUGUSTINE B. KELLEY Foreign Aid at No Government Expense­ Mr. DIXON. Mr. Speaker, I am re­ introducing in this Congress a measure OF PENNSYLVANIA The Boy Scouts Did It which I had introduced in the previous IN THE ROUSE OF REPRESENTATIVES Congress in the House. This former Wednesday, February 6, 1957 EXTENSION OF REMARKS measure was H. R. 4262. Recently, in OF the Senate, Mr. BENNETT introduced, for Mr. KELLEY of Pennsylvania.
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