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Extensions of Remarks E387 EXTENSIONS of REMARKS March 7, 2003 CONGRESSIONAL RECORD — Extensions of Remarks E387 EXTENSIONS OF REMARKS IDEA FUNDING THE PRESIDENT’S STEEL fornia. The proposal would create commemo- PROGRAM rative coins to help pay for the restoration of HON. DARLENE HOOLEY the San Francisco Mint known widely as the HON. ROBERT W. NEY ‘‘Old Granite Lady.’’ I commend Senators OF OREGON OF OHIO FEINSTEIN and BOXER for undertaking this commendable effort. IN THE HOUSE OF REPRESENTATIVES IN THE HOUSE OF REPRESENTATIVES The San Francisco Mint was in service from Wednesday, March 5, 2003 Wednesday, March 5, 2003 1870 to 1937, survived the San Francisco Ms. HOOLEY of Oregon. Mr. Speaker, Mr. NEY. Mr. Speaker, for years our jobs earthquake of 1906, and was utilized until a today I want to address an issue that is of have been washing away in a flood of cheap, few years ago as federal offices. Today, mod- great concern to my home state of Oregon, dumped foreign steel. Until the Bush Adminis- ern building codes require that it be reinforced and to states around the country. tration, these calls for help fell on deaf ears. before it can safely be used in an area that is When Congress enacted the predecessor On March 5, 2002, the President imposed tar- still prone to earthquakes. legislation to the Individuals with Disabilities in iff relief for a period of three years. One year I recently read an article in the February 11, Education Act (IDEA) in 1975, we made a later, the proof is irrefutable—the President’s 2003 edition of the Numismatic News, which I commitment to provide children with disabil- steel program is working. It is critical to the ask to be placed in the CONGRESSIONAL ities access to a quality public education. The continuous success of the President’s plan RECORD following my remarks, written by Ber- assumption was that education for children that tariff relief remain in effect for its full term. gen County Freeholder and my hometown Fair with disabilities was, on average, twice as U.S. steel companies, such as Wheeling- Lawn, New Jersey Mayor David L. Ganz, pro- costly as education for nondisabled children. Pittsburgh Steel Corporation and Weirton posing modifications to S. 168 to further stimu- As a result, Congress authorized the federal Steel Corporation, have made tremendous ef- late interest on the issuance of this coin. His government to pay up to 40 percent (some- forts to remain competitive in the world mar- proposals are worthy of consideration. Specifi- times termed the IDEA ‘‘full-funding’’ amount) ket. Labor and management have worked to- cally, Mayor Ganz proposes to have com- of each state’s excess cost of educating chil- gether to make brutal decisions. Wages have memorative coinage re-issued using historic dren with disabilities. Not once in the past 28 been cut; the number of workers and man- coin designs that were widely used in the 19th years has Congress lived up to its obligation agers has been reduced; new efficiencies and century, are associated with the San Fran- and states have had to shoulder the brunt of technologies have been pursued; bonds have cisco Mint, and which would offer to coin col- this unfunded mandate. been restructured to reduce interest expense lectors the affordable opportunity to receive proof specimens—a means to boost sales, in- The state and school districts are forced to and avoid bankruptcy. Despite these sacrifices crease the surcharge that will be used to help pick up the additional costs, putting additional and improvements, these steel companies restore the Mint, and provide an exciting col- strain on our education funding. The FY 2003 were still suffering from illegally dumped for- lector’s opportunity as well. appropriation for Part B of IDEA was $8.9 bil- eign steel. For example, coin collectors know the tale lion or 17.6 percent of the ‘‘excess cost,’’ leav- Since implementation of Section 201 tariff of the 1870 three dollar gold piece with the ing states and local school districts with an un- relief, the industry has made significant ‘‘S’’ for San Francisco Mint mark on the re- funded federal mandate of over $10 billion. progress toward restructuring and consolida- verse. The coin is unique and was formerly in That is $10 billion that our states and school tion, and these efforts will continue. The inter- the Louis Eliasberg collection. It is valued in districts could be spending to alleviate state national talks on overcapacity and subsidies the millions. There are other proof or uncir- budget crises, reduce class sizes, build and are making real progress. In addition, domes- culated three dollar gold pieces that are modernize schools and implement technology tic producers have enjoyed improvements in quoted in Numismedia, a coin pricing guide, into education. revenues, operating income, and capacity utili- zation. A number of companies have returned that sell for thousands of dollars. States across the Nation are dealing with an to profitability, while others have shown signifi- The 20-cent piece also has a long history economic crisis, facing large state budget defi- cant improvement even though they have not associated with the San Francisco Mint, in- cits and making deep cuts to services. In my yet become profitable. cluding the 1875–S coin produced more than home state of Oregon, the latest round of There have however been significant surges a century ago. An uncirculated example of this budget cuts have hit essential services such of imports from certain excluded countries, coin would cost hundreds of dollars. The same as education, and Oregon school districts are and, to the extent there is any concern about is true for the Liberty head nickel and the Bar- facing many tough decisions including shutting the program, it is that too many imports could ber dime—where the 1894–S, one of only 24 down early. be undermining relief. In fact, imports of flat- specimens known, is a six-figure rarity and a Make no mistakes about what this legisla- rolled steel increased substantially after impo- regular design is hundreds of dollars in pris- tion is about: it is about keeping the promise sition of Section 201 measures in 2002, as tine, uncirculated condition. of funding the mandate the federal govern- compared to the same period in 2001. There- Mr. Ganz calls for special collector coins not ment has put on the states and relieving the fore, the Section 201 tariff measures must be intended for circulation, but bearing original school funding crises that states across the fully enforced if our industry is to arrive at a designs of a century ago utilizing a contem- Nation are facing. In Oregon, this legislation successful conclusion. While recovery will take porary date. They would be produced in proof, would provide about $100 million that the fed- time, the President’s plan has allowed the in- as uncirculated pieces, and offered to collec- eral government is obligated to fund for edu- dustry to make a real start. tors with a modest surcharge that could raise cation, each and every year. With state’s f $123 million, if the coins sold out, to help re- budget crisis, threats of a shortened school store the Old Granite Lady. year and significant layoffs, this money is very THE OLD GRANITE LADY Mr. Ganz’s comments merit consideration important. for many reasons, not the least of which is It is high time we renew our commitment to HON. STEVEN R. ROTHMAN that he is a respected numismatist. A former our Nation’s children and pay the federal gov- OF NEW JERSEY member of the Citizens Commemorative Coin ernment’s share of the cost of IDEA. That is IN THE HOUSE OF REPRESENTATIVES Advisory Committee, he is one of the people why Congresswoman Nancy Johnson and I credited by former Mint director Philip Diehl as are introducing legislation that would appro- Wednesday, March 5, 2003 being the source and inspiration for America’s priate money to bring the federal government’s Mr. ROTHMAN. Mr. Speaker, I rise today to state quarters—which have given $5 billion share of IDEA funding to the full 40 percent by discuss S. 168, the San Francisco Old Mint back to the American taxpayer. I have known FY 2008 and I urge my colleagues to join me Commemorative Coin Act, introduced by Sen- Mayor Ganz for many years and believe that in this effort. ator FEINSTEIN and Senator BOXER of Cali- his ideas merit consideration, and I hope that ∑ This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor. VerDate Jan 31 2003 02:22 Mar 08, 2003 Jkt 019060 PO 00000 Frm 00001 Fmt 0626 Sfmt 9920 E:\CR\FM\A05MR8.051 E07PT1 E388 CONGRESSIONAL RECORD — Extensions of Remarks March 7, 2003 they may be incorporated into this meritorious the integrity of the coinage process, the his- One obvious way of doing that is to create effort to restore the San Francisco Mint. tory of American money and telling the a new $3 gold piece—a play on the 1870–S that story of American numismatics in its larger is unique (formerly in the Eliasberg collec- [From the Numismatic News, Feb. 11, 2003] sense. tion)—which was produced in the very year SAN FRANCISCO $3 WOULD SELL BETTER THAN There’s nothing magical about the tem- that the Old Granite Lady opened for busi- $5 plate that is being utilized right now to cre- ness.
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