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WHORM Subject File Code: IT044 (International Monetary Fund) Case file Number(s): 130000 -147525
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National Archives Catalogue: https://catalog.archives.gov/ -., J 31193 ID#______
WHITE HOUSE CORRESPONDENCE TRACKING WORKSHEET
D O · OUTGOING D H · INTERNAL ~ I • INCOMING Date Correspondence c? O> , Received(YY/MM/DD) a3/ ~ /~/ Name of Correspondent: ~~ /.(/al/~
□ Ml Mail Report User Codes: (A>--~- (B) ____ (C) ____ S~t: ftr~ft:h;~z:i~~J
ROUTE TO: ACTION DISPOSITION
Tracking Type Completion Action Date of Date Office/Agency (Staff Name) Code YY/MM/DD Response Code YY/MM/DD QJ>-, ------'------~- /( J) /} 8'3> IJf- ~ ½faJe ORIGINATOR Referral Note: I) 5 T tZ )}\(\,)\.,\)1- Referral Note: Referral Note: Referral Note: ACTION CODES: ' DISPOSITION CODES: A - Appropriate Action I - Info Copy Only/No Action Necessary A - Answered C - Completed C - Comment/Recommendation R - Direct Reply w/Copy B - Non-Special Referral S - Suspended D - Draft Response S - For Signature F - Furnish Fact Sheet X - Interim Reply to be used as Enclosure FOR OUTGOING CORRESPONDENCE: Type of Response = Initials of Signer Code = "A" Completion Date = Date of Outgoing Comments: ______ Keep this worksheet attached to the original incoming letter. Send all routing updates to Central Reference (Room 75, OEOB). Always return completed correspondence record to Central Files. Refer questions about the correspondence tracking system to Central Reference, ext. 2590. 5/81 RECORDS MANAGEMENT ONLY CLASSIFICATION SECTION No. of Additional Correspondents:,__ _ Media.1 ✓ , Individual Codes: Prime / Secondary Subject Code:--=:£ L/_j/_ _ Subject Codes: PRESIDENTIAL REPLY Code Date Comment Form c __ Time: P- DSP Time: Media: __ SIGNATURE CODES: MEDIA CODES: CPn - Presidential Correspondence n - O - Unknown B • Box/package n - 1 - Ronald WIison Reagan C-Copy n - 2 - Ronald Reagan D • Official document n-3-Ron Q. Message n - 4 - Dutch H • Handcarrled n - 5 - Ron Reagan L • Letter n - 8 - Ronald M• Mallgram n . 7 - Ronnie O-Memo P • Photo Cln • First Lady's Correspondence R • Report n • 0 - Unknown S • Sealed n • 1 • Nancy Reagan T • Telegram n • 2 • Nancy V • Telephone n • 3 • Mrs. Ronald Reagan X • Miscellaneous Y • Study CBn • Presidential & First Lady's Correspondence n • 1 - Ronald Reagan • Nancy Reagan n • 2 - Ron • Nancy THE UNITED S T ATES T RAD E REPRESE N TATIVE~ n /1 _ WAS HINGTON a~ 20506 -__l------April 15, 1983 The Honorable Roberts. Walker U.S. House of Representatives Washington, n.c. 20515 Dear Bob: This is in further response to your letter to Ken Duberstein of the White House on behalf of your constituent Mr. W. R. Wilson of Lukens, Inc. Mr. Wilson addresses a serious problem that is being carefully studied by the Administration at this time, namely, the relationship between international trade and financial flows. As you are well aware, we currently face an international debt crisis of serious proportions involving a number of developing countries. This crisis has implications for U.S. trade, the U.S. domestic economy, and U.S. foreign and security policy as well. With respect to U.S. trade and trade policy, the area I am directly responsible for, the debt crisis led to a reduction in 1982 of $8.7 billion in U.S. exports to the six largest debtor countries alone. This resulted in a net loss of almost one-half million U.S. jobs. Moreover, further declines in U.S. exports to debtor countries are likely until the measures being implemented to deal with the crisis stabilize the situation and restore the overall international financial system to health. Therefore, from a purely trade policy point of view, I am extremely concerned. In order to deal with the crisis, the Administration has adopted a comprehensive strategy. While it is true, as Mr. Wilson notes, that the Administration is asking the Congress to increase U.S. resources for the IMF, this is only one element of the U.S. strategy. The most important element of the strategy is for the developing countries themselves to undertake the necessary internal economic adjustments to stabilize their e xte rnal accounts. Those adjustments will prove quite painful f or all of the se countrie s. In addition, we and the IMF are insisting that private comme rcial banks also undertake their share of the burden in helping the d e v e loping countrie s through this dif ficult pe riod of a djustment. Finally, it is important that the Administration continue its s ound fiscal and mone tary policies to e nsure sustained economic recovery in the United States. In sum, the responsibilities for resolving the international debt : situation must be shared by many parties in many countries. Unfortunately, any alternatives would be far worse. Of course, I am acutely sensitive to the trade implications of this strategy because the developing countries in question will have to have a more rapid growth in exports than imports over the near term for the strategy to succeed. However, this does not mean that we will alter our current trade policy. Rather, trade decisions will continue to be made on traditional trade policy grounds. While this Administration is committed to open markets both in the United States and globally, it is also determined to apply U.S. trade laws fairly and to exercise U.S. international rights where appropriate. In sum, we do not intend to let U.S. trade policy be driven by the debt crisis, although we do believe that our existing trade policy can complement the overall strategy being followed to deal with the debt crisis. Obviously, this is a complex area and one that cannot be covered in detail in letter form. However, I am sensitive to Mr. Wilson's concerns and I hope the above remarks help to clarify my own thinking on this matter. Very truly yours, WILLIAM E. BROCK WEB:wtm T H E W H I T E H O U S E 0 F F I C E REFERRAL APRIL 6, 1983 TO: UNITED STATES TRADE REPRESENTATIVE, OFFICE OF ATTN: BILL MARONI ACTION REQUESTED: DIRECT REPLY, FURNISH INFO COPY DESCRIPTION OF INCOMING: ID: 131193 MEDIA: LETTER, DATED MARCH 16, 1983 TO: KENNETH DUBERSTEIN FROM: THE HONORABLE BOB WALKER U.S. HOUSE OF REPRESENTATIVES WASHINGTON DC 20515 SUBJECT: ENCLOSES A LETTER FROM W.R. WILSON CONCERNING THE INTERNATIONAL MONETARY FUND PROMPT ACTION IS ESSENTIAL -- IF REQUIRED ACTION HAS NOT BEEN TAKEN WITHIN 9 WORKING DAYS OF RECEIPT, PLEASE TELEPHONE THE UNDERSIGNED AT 456-7486. RETURN CORRESPONDENCE, WORKSHEET AND COPY OF RESPONSE (OR DRAFT) TO: AGENCY LIAISON, ROOM 91, THE WHITE HOUSE SALLY KELLEY DIRECTOR OF AGENCY LIAISON PRESIDENTIAL CORRESPONDENCE Dear Bob: Thank you for your March 16 letter enclosing correspondence to the President from your constituent, w. n. Wilson, CODID.entlng on the Administration's trade policies. We appreciate your interest in sharing your constituent's comments with us. I have taken the liberty of sharing your correspon dence witb the President's tl:'ade adviser for their close attention and review. With best wishes, th M. Duberstein es s ant to the President The Honorable Roberts. walker House of Representatives Washington, o.c. 20515 cc: ~~l Maroni w/copy of incoming for DIRECT response w/copy to K. Duberstein WH RECORDS MANAGEMENT HAS RETAINED ORIGINAL KMD:CMP:KRJ:vml-- Dear Bob: Tha.1k you for your March 16 letter enclosing correspondence to the President from your constituent, w. R. Wilson, comenting on the Acb:Qiniatration'a t~ade policies. We appreciate your interest in sharing your constituent's co.,roent ... with us. I have taken tl1e liberty of sharing your correspon dence with the Pr~sident's trade adviser fr their clo-&e attention and review. With best wishes, Sincerely, Kenneth M. Duberstein Assistant to the President The Honorable Roberts. Walker ·Hollae of Repreaentativea washington, o.c. 20515 cc: Bill Maroni w/copy of incoming for DIRECT response ; w/copy to K. Duberstein 1 / WH , RECORDS MANAGEMENT HAS RETAINED ORIGINAL 1 I I KMD:CMP:KRJ:vml-- // .I, "' ROBERTS. WAl,.KER STAFF IN CHAJIGl:1 ...._ lent DISTIIICT, Puean.VANIA MARTHA C, MORRISON COMMITTm1 MARC T. PHILLIPS ..- GOVERNMENT OPERATIONS DISTIIICT0PP'ICU SCIENCE AND TECHNOLOGY March 16, 19 83 J 31193 Mr. Kenneth M. Duberstein Assistant to the President for Legislative Affairs The White House Washington, D.C. 20500 Dear Ken: The enclosed letter I received from W. R. Wilson, President and Chief Executive Officer of Lukens, Inc., provides what I consider some excellent "food for thought" on the subject of the International Monetary Fund. Accordingly, I am forwarding it to you for your review. Any thoughts you may have would be greatly appreciated. I am grateful for your cooperation and look forward to hearing from you in this regard at your earliest opportunity. ffl ly, /:tert s. Walker mm Enclosure CC:. W. R. Wilson Lukens,lnc. 50 South First Avenue r< EC # _!__!_'_L!_l._ DOC~ ------~- Coatesville, PA 19320 AUTH: '(1 {'.' PAR : 215 I 383 3091 ----- CAT:···-····-········- ---- ·---- W.R. WIison President and March 4, 1983 Chief Executive Officer The Honorable Robert S. Walker House of Representatives 1028 Longworth House Office Building Washington, D.C. 20515 Dear Bob: We find the Administration's support for additional International Monetary Fund contributions by the U.S. inconsistent with its "Free Trade" stance in regard to our industry. Enclosed is a letter I have mailed to President Reagan in regard to this matter. Lukens produces plate steel, a product subject to severe and often unfair import competition from steel producers in a number of less-deve~oped countries. Sincerely, d~d~ w. R. Wilson Enclosure LLi.f- ns 1nc. , . 50 South Fl'sl A venue Cc,;irr.s .·dle . PA 19320 215 i 3R3 3091 March 4, 1983 W.R. WIison President and Chief Executive Officer The President The White House Washington, D.C. 20500 Dear Mr. President: I understand the "Free Trade" policy of your Administration although I do not agree with it. What I cannot understand is the inconsistent application of that policy. ! On the one hand, you insist that so-called "Free Trade" polici~s apply to the market envirornnent for American producers . These companies must survive or fail on the basis of market decisions . On the other hand, Congress is asked to support the infusion of more taxpayer money into the IMF to help financially strapped Third World countries salvage unviable financing packages that were put together by private banks. When major banks step up international lending, particularly to less-developed countries, their decisions threaten the security of their Joan portfolios. Their loans also help finance the unhealthy over-e xpansion of a number of basic industries. To meet the resulting financial obligations, these less-developed countries must achieve unrealistic export levels . Unfortunately, America must be the market for many of ·~these exports and Amer:f can workers and industry -- already paying. a severe price for these excesses in overseas capacity -- will suffer further as foreign products capture domestic markets. W~ conti'i~ut! to be faced ~ith' the specter of subsidized industries, insulated from bankruptcy by American taxpayers' dollars, competing in our markets at unfair prices. If Am e rican industrial firms suffer the penalties of poor business decisions in a Free Trade atmosphere, so, too, should the banks accept the e conomic p enalties of overly aggres sive lending policjes and inadequa te res e rves. The American taxpayers should not ·1 subsidize the cost of mistakes made by the banking industry, especially since the proposed cure could add to the trade problems of American companies and to the unemployment of American workers. Sincerely yo urs, W. R. Wilson ID II 141.623 WHITE HOUSE :ITtJ L/( CORRESPONDENCE TRACKING WORKSHEET . 0 · OUTGOING [. f · INTERNAL INCOMING v, . Date Correspondencet:3 / /LJ. / >d , Received(YY/MM/DD} ~ r..r I d Name of Correspondent: ~ ,A_..J'--'e_~_\_x:~/l _----'-l/__,_A...... fJ-=-@--- .~M~4--s1="-+-- (B) __ (C) ___ l_J C12 vJ ------·------ ROUTE TO: ACTION DISPOSITION Tracking Type Completion Action Date of Date Office/Agency (Staff Name} Response Code YY/MM/DD L~fa -~), I YYIMM/DD - o~;: 1NATO~.,;. pS,,-· _)_ Jj ------Ref erral Note: ~-: ·~cs f3,o5taS Referral Note: Referral Nola: Referral Note: Referral Note: ACTION CODES: DISPOSITION CODES: A • Appropriate Action I • Info Copy Only/No Action Necessary A • Answered C • Completeo C • Comment/Recommendation R • Dire ct Reply w/Copy B · Non-Special Referral S • Suspended D • Draft Re spor.si; S • For Signature F • Fu rnish Fact Sheet X • Interim Reply to be used as Enclosure FOP. OUTGOI NG CORRESPONDENCE: Type of Response ·. Initials cl Signer Code = ·' A'' Compler,cn Date ~ Date of Ou tgoing Comments: ____ ------______ Keep this worksheet attached to the orig inal incoming letter. Send all routing updates to Centra1 Reference (Room 75, OEOB). Always return completed correspondence record to Central Files. Refer questions about the correspondence tracking system to Central Reference, ext. 2590. .... RECORDS MANAGEMENT ONLY CLASSIFICATION SECTION No. of Additional Correspondents:. ___ Media: ~Individual Codes: -·--- -·--- Pri~e J_ ;/J / /1/ Secondary SubJect Code. _ _ CL-X-l · _ _ Subject Codes: PRESIDENTIAL REPLY Code Date Comment Form c __ Time: p. DSP Time: Media: ___ SIGNATURE CODES: MEDIA CODES: CPn • Presidential Correspondence n • 0 • Unknown B • Box/package n • 1 . Ronald WIison Reagan C-Copy n • 2 • Ronald Reagan D • Official document n • 3 • Ron G- Message n .4 • Dutch H • Handcarrled n • 5 • Ron Reagan L • Letter n • 6 • Ronald M- Mallgram n • 7 • Ronn ie O - Memo P . Photo CLn • First Lady's Correspondence R • Report n • 0 • Unknown S • Sealed n • 1 • Nancy Reagan T • Telegram n • 2 • Nancy V • Telephone n • 3 • Mrs. Ronald Reagan X • Miscellaneous Y · Study CBn • Presidential & First Lady's Correspondence n • 1 • Ronald Reagan • Nancy Reagan n • 2 • Ron. Nancy I • INTERNATIONAL MONETARY FUND WASHINGTON , D C . 2 0431 EXECU T IVE D I REC TO R CABLE ADDR ES S United States May 9, 1983 I NTERFUND Dear Ms. Kelley: I have forwarded your request for a response to the attached correspondence to the Treasury Department since its staff has been responding to inquiries regarding the President's position on the IMF. 1Th/~ Richard D. Erb Ms. Sally Kelley Director of Agency Liaison Presidential Correspondence Room 91 The White House Washington, D. C. 20500 Attachment T H E W H I T E H O U S E 0 F F I C E REFERRAL MAY 5, 1983 TO: AGENCY REFERRAL ATTN: INTERNATIONAL MONETARY FUND ACTION REQUESTED: DIRECT REPLY, FURNISH INFO COPY DESCRIPTION OF INCOMING: ID: 141623 MEDIA: LETTER, DATED APRIL 1, 1983 TO: PRESIDENT REAGAN FROM: MR. NEWELL T. VANDERMAST 3 RUE VALBONNE NEWPORT BEACH CA 92660 SUBJECT: REQUESTS PRESIDENT'S VIEWS ON ARTICLE ABOUT THE IMF PROMPT ACTION IS ESSENTIAL -- IF REQUIRED ACTION HAS NOT BEEN TAKEN WITHIN 9 WORKING DAYS OF RECEIPT, PLEASE TELEPHONE THE UNDERSIGNED AT 456-7486. RETURN CORRESPONDENCE, WORKSHEET AND COPY OF RESPONSE (OR DRAFT) TO: AGENCY LIAISON, ROOM 91, THE WHITE HOUSE SALLY KELLEY DIRECTOR OF AGENCY LIAISON PRESIDENTIAL CORRESPONDENCE THE WHITE HOUSE WASHINGTON , ' . Ne~ell Thompson Vandermast j 416 2 3 J~ J ~~ ',t~~ I /f//'J. ~ . : . J ~..,I ~ -- - I~ 6 dPw J ' ,n,r,d~L~ ~ • • ~, ~ ~~~ ~~ .. .. ; . . . MONEY&. INVESTMENTS but upon its monopoly of legal force Can the US. really hail out the whole that allows it to command the in comes and assets of all the people in world through- the IMF? Or will the at the country. It can create all the tempt wreck our own creditworthiness? credit it wishes and bail out the overextended borrowers. Domestic bailouts remove the risks associated with borrowing and spending excessively so that the in SOMETHING NEW flation tends to worsen. In the coun tries that have slipped over the brink into hyperinflation, the gov UNDER THE SUN ernment has been financing every body for years. By Ashby Bladen IMF expansion is supposed to bring Another trouble with bailouts, ei about. If the outcome were left to ther of people or of countries, is that the tender mercies of the market they weaken the incentives to pro place, it would be violently and duce the real goods and services on painfully self-correcting. The recent which our standard of living de collapse of OPEC is an excellent pends. Why work hard to produce example of how that works. exports for foreigners to enjoy when During the 1970s several oil-pro those nice folks at the New York ducing countries with large popula banks will lend you the dollars to tions and ,low standards of living pay for the imports that you enjoy? borrowed heavily to finance eco These eager bankers don't seem to According to Ecclesiastes, one of nomic development. By now Nige care very much when, or even if, your more reliable gurus, there is ria, Mexico and even Venezuela are you repay. Just don't default and nothing new under the sun. Well, heavily overindebted and will have make them write off the loan. the Administration is about to try to sell their oil for whatever it will If the policy of bailing everybody to prove him wrong. Just a few bring to avoid defaulting on their out succeeds, it will mean global months ago the Administration debts. Thus, conditions in oil have inflation on an unprecedented scale. knew nothing and cared less about turned not merely disinflationary, However, it seems clear that the the developing international finan but downright deflationary. Administration is too busy coping cial crisis, and it was opposed to the If it were not for political inter with today's crises to think through idea of increasing the American vention, inflation would always be the consequences of its policy. But subscription to the International self-correcting. Why? Because the how long will the external credit of Monetary Fund. But now that it has perception that debts are becoming the U.S. remain good if we use it discovered the crisis, it is seriously top-heavy by comparison with the wholesale to bail out countries that proposing to help the banks fend off incomes from which they are sup have no real chance of repaying us? worldwide deflation.and hard times posed to be repaid would cause lend Ironically, politics may thwart by making new bailout loans to ev ers to pull in their horns and cease this dangerous bailout. In 1932 the ery country whose necessitous sell to finance marginal borrowers. Reconstruction Finance Corp. was ing of exports will otherwise cause Most overextended borrowers making loans to troubled banks, deflation. Does it concern the Ad would save, and sell whatever they one of which was controlled by the ministration that quite a few of could to pay down their debts. famµy of President Hoover's budget those countries cannot possibly re Those who could not manage would director, Charles Dawes. The Tip pay what they already owe? Appar default and be foreclosed, and the O'Neill of the day, John Nance Gar ently not. Throwing good money pressure of necessitous selling ner, decided that publicizing that after bad on a global scale has never would cause a period of deflation fact would enable the Democrats to been tried before, and it is hard to and hard times that would be pain score a political point by embar believe that the Administration has ful but over fairly quickly. Then the rassing the Republicans. So he got any idea about the ultimate conse world would not be saddled with the Congress to require the RFC to quences of its new policy. chronic inflation. publish the names of the banks to This is an excellent illustration of Bailouts of any sort, whether by which it made loans. The banks fig my basic point that, current appear the IMF or by domestic agencies, ured that would be taken as an offi ances to the contrary notwithstand tend to frustrate this natural self cial government list of bad banks. ing, there is no such thing as a correction. If the government of a They stopped borrowing from the peaceful and painless disinflation. sovereign country decides that do RFC and closed down instead. That And yet this seems to be what the mestic deflation is politically unac was the last straw that led to the ceptable, it can borrow and bail out Bank Holiday of Mar. 4, 1933. Once A5hby Bladen is senior vice president for its own residents because, unlike again, the Democrats will almost inl'estments of tbe Phoenix Mutual Life In most people and businesses, its certainly oppose a policy that can surance Co. and autbor of How to Cope creditworthiness does not depend be construed as a bailout of the with the Developing Financial Crisis. on the coverage of its debt service bankers . ■ 206 FORBES, APRIL II, 191!3 ·i ,(I 187-, ~ -' ~ l ' ID# - -- f/L?(zl:~ WHITE HOUSE CO RRESPO NDENCE TRACKING WORKS HEET C O · OUTGOING D H · INTERNAL D I · INCOMING g~ tf Date Corres pondence "/ / Q 5 I D Received (YY/MM/DD) - ~--~-~ Name of Correspondent: FerNUJ S. st □ Ml Mail Report User Codes: (A) (1les (B) _ ___ (C) ____ Subject: U'le~~""" n, see. ;-kt House. Rer4tic.a.n.s ·)V\~~~ 0.. de.b1'nifl\;e.. la'mmit-m~t $~r./,'a ~nu"" prrpos~ W '"the rMFJ ~~ "M~Lf-i l"-+erJ &euelopmerrf h~h.s-> + £x-In-t 8utle.: u The_. l,oh;-fe ~e.~ike f.epw.JoUc4M..f~fica.QMA~t1er htu.Je.M vlrh< f!,tJ SF}~ ~I.V\..t. ft> a.t+a&.. bemocrcJs ~ ~ ~s ••• l'lt.uer«.eless 1.,(.4 {e,1.+ ,Q- 01.tr rt?Jl',MA{b: (; f¼ fo egnf-it1.ue.. fr, .s&..d>if.>0-rt Drt>~4.-mS ne~e.d to rk.. Na-h' Referral Nola: Referral Note: Referral Note: ACTION CODES: DISPOSITION CODES: A - Appropriate Action I - In fo Copy Only/No Action Necessary A - Answered C - Completed C - Comment/Recommendation R - Direct Reply w/Copy B - Non-Soecial Referral S - Suspended D - Draft Response S - For Signature F - Furnish Fact Sheet X - Interim Reply to be used as Enclosure FOR OUTGOING CORRESPO NDENCE: Type of Response = Initials of Signer Code = " A'" Complet1cn Date = Date of Outgoing Comm:~~s: ~ {2 ~ ~ -£/6~ ~~- (~.td Keep this worksheet attached to the original incoming letter. Send all routing updates to Centra1 RefereP ce (Room 75, OEOB). Always return completed correspondence record to Central Files. Re fer questions about t he correspondence t racking system to Cen tral Reference, ext. 2590. 5/8 1 RECORDS MANAGEMENT ONLY CLASSIFICATION SECTION No. of Additional Correspondents:,__ _ Media: ·_L Individual Codes: Prime -r--,--- . 1 ~ Secondary Subject Code: 4:-L Cl. TT- __ Subject Codes: --LE--- .-- .fG, P~-~~ PRESIDENTIAL REPLY Code Date Comment Form c __ Time: p. DSP Time: Media: __ SIGNATURE CODES: MEDIA CODES: CPn · Presidential Correspondence n • 0 - Unknown B - Box/package n - 1 - Ronald Wilson Reagan C · Copy • n • 2 - Ronald Reagan: • D • Official document n - 3 - Ron G- Message n · 4 · Du-k:h H - Handcarrled n • 5 - Ron Reagan L - Letter n - 6 - Ronald M- M!liigram n - 1 • Ronnie · O-Memo P - Photo Cln - First Lady's Corres11-ondence R,- Report n • 0 : Unknown S - Sealed n - 1 • Nancy Reagan _"f -Telegram n - 2 - Nancy V • Telephone n • 3 • Mrs. Ronald Reagan X - Miscellaneous Y · Study CBn • Presidential & First Lady's Correspondence n - 1 - Ronald Reagan - Nancy f;leagan n • 2 • Ron - Nancy if-- ~ (]J ~-... ~,, y>a,,,. ~ cl.dA'{)U'~ (2) &>p'vt? ~-fr; :5/J-~1 e ~dcJtv.,su/~~· THE WHITE HOUSE WASHINGTON TO: n~ FROM: MELANIE BLESSE Office of Legislative Affairs ~l).A-L P. > -·_A,__u~" ..,....., Ji _/~- ~ ~ ~~B THE~ HOUSE WASHINGTON NOTE FOR: CHARLIE FROM: NANCY RISQUE Would you please clean up the attached draft and put it in final form for a Presidential. Return to me for Ken's OK ASAP Many thanks. l. J· I ., I:· ' . ""-M.A.,,.,, • J • r~.cJ~ 6- ~~(-t.,~ ~ \.-z;, ~~ 1:-M -:t- ~ ~rt.Ll\h S6--- l.L~ ~ ~ . t,...l~ \ ( w/ C>A< f~, si-- ~~~&.A• 'eJl.J f Yfl.~ ~ T ~ ~-~- f .. THE DEPUTY SECRETARY OF THE TREASURY WASH I NGT ON, O .C . 20220 May 4, 1983 MEMORANDUM FOR JAMES A. BAKER, III CHIEF OF STAFF /J ..I.),. FROM R. T. McNamar "'_,. SUBJECT Letter from President Reagan on IMF The House· Banking Committee will mark up the IMF request on Monday, May 9. There is a persistent concern on the part of the Democrats that this issue is not receiving the v i sible evidence of Administration support necessary to f.orge a bipartisan majority to pass the legislation. Chairman St Germain has written to the President expressing this concern clearly and succinctly (see attached). Our own discussions with the Hill indicate that our biggest problem is in fact lack of visible Republican support, and in fact, some vocal Republican opposition. Understandably, the Democratic leadership doesn't intend to push its membership on their swords on behalf of a Presidential request for assistance to an international institution that doesn't have substantial Republican support. The typi cal Democratic question is "Why should I support this international spendihg when the Republicans are trying to cut domestic spending?". As we move toward Floor consideration in the Senate and full committee action in the House, as well as appropriations committee co.nsideration, I believe it is essential that the President communicate to the Congress the importance of this issue and urge bipartisan · support. We have already recommended Presidential meetings with the Senate and House leadership and key committee players early the week of May 16 to encourage positive action prior to the Williamsburg Summit. I reit erate that request. .. . -2- ort or this legislation. I have attached t letter f6r t:ne Presi Attachments cc: Kenneth Duberstein Dear Mr. Chairman: As the House Banking Committee considers the legislation I have requested~thorizing increased U.S. participation in the International Monetary Fund, multilateral development banks, and reauthorizing the Export-Import Bank, I want to reiterate the importance which I attach to these measures. Taken together, these proposals will strengthen international financial stability, promote sustainable economic growth in the developing countries, and enhance our economic recovery here at home. The request to provide an increase in the U.S. quota in the IMF and in U.S. participation in the IMF's General Arrangements to Borrow is part of an internationally-agreed strengthening of the IMF's resources, designed to enable the ·Fund to play its central role in promoting an orderly, cooperative resolution of current international debt and financial problems. With our growing interdependence with . ;fu:.~,v.,4:t: the world economy, -..kArepr sents an essential part of our own efforts to achieve sustainable economic recovery, preserve jobs in this country, and maintain a stable world economic foundation for pursuit of our international economic, foreign policy, and security interests abroad. For this reason, the proposed increase in the IMF's resources is of major importance to every American citizen, no matter how distant international financial problems may seem. I am confident that this legislation should, as it has in the past, warrant the broadest bipartisan support in the Congress. -2- Similarly, the authorizations far the multilateral d~velopment banks and Export-Import Bank represent an investment in economic growth, at home and abroad, and merit strong support by Members from both sides of the aisle. commend you for your ef~orts assure prompt consideration of this legislation by the Committeer .,_;;ff'u can be sure of my-~ finue and active s upport for these measures which form a crucial part of my legislative program. The Honorable Chalmers P. Wyli~ (._ Dear ~ :Wy J i e : A A ~ 0 - • tlu__ 1-1~ flr,1uul .J. . ' ~ , S-t G~~ Ct,o;rMIU\ (},.,.., .... ,· tfee. ""1 ~ Je,.·113, F(M~ CtM.J. l/4.rb~ /rrfu ,9 ~ ... . . • FERNAND J. ST GERMAIN, A.I., CHAIRMAN CHALMERS P. WYLIE, ()HIO STEWART B. McKINNEY, CONN. HENRYB. GONZALEZ, TEX. GEORGE HANSEN, IOAHO JOSEPH G. MINISH, N.J. JIM LEACH, IOWA FRANK ANNUNZIO, ILL RON PAUL TEX. PARREN J. MITCHELL MO. WALTER E. FAUNTROY, O.C, ED BETHUNE, ARK. NORMAN 0. SHUMWAY, CALIF. STEPHEN L NEAL N.C. JERRY M. PATTERSON, CALIF. U. S. HOUSE OF REPRESENTATIVES STAN PARRIS, VA. CARROLL HUBBARD, JR., KY. BILL McCOLLUM. FLA. JOHN J. 1.AFALCE, N.Y. COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS GEORGE C. WORTLEY, N.Y. NORMAN E. D'AMOURS, N.H, MARGE ROUKEMA. N.J. STAN LUNDINE. N.Y. BILL LOWERY, CALIF. MARY ROSE DAKAR, OHIO NINElY-EIGHTH CONGRESS DOUGLAS K. BEREUTER, NEBR. BRUCE F. VENTO, MINN. DAVID DREIER, CALIF. JOHN HILER, IND. DOUG BARNARD, JR., GA. THOMAS J. RIDGE, PA. ROBERT GARCIA. N.Y. 2129 RAYBURN HOUSE OFFICE BUILDING STEVE BARTLETT, TEX. MIKE LOWRY. WASH. CHARLES E. SCHUMER, N.Y. WASHINGTON, D.C. 20515 BARNEY FRANK, MASS. 225-4247 BILL PATMAN, TEx. W1UIAM J. COYNE. PA. BUDDY ROEMER, LA. May 4, 1983 RICHARD H. LEHMAN, CALIF. BRUCE A. MORRISON, CONN. JIM COOPER, TENN. MARCY KAPT\JR, OHIO BEN ERDREICH, ALA. J 41877 SANDER M. LEVIN, MICH, THOMAS R. CARPER, DEL ESTEBAN EDWARD TORRES, CALIF, The President The White House Washington, D. C. My Dear Mr. President: Your Administration has given general support to a number of bills involving international finance and the expenditure of billions of dollars of public monies. These include $8.4 billion for the International Monetary Fund, $7.5 billion for the multilateral development banks, and a reauthorization of the Export Import Bank. It is important, Mr. President, that the Administration's support be translated into definitive commitments from Members of your party in the House of Representatives if this legislation is to be successful. As you are aware, some members of your party have used a variety of forums to attack the Administration's legislative requests to which this Committee is attempting to give serious consideration. While we have not always agreed with your positions, those of us on the Democratic side of the aisle have admired your ability to impose the strictest discipline among the Republican Members of the House, and we trust that this same type of aggressive effort will be forthcoming to support the work you have requested from this Committee on these international bills. It is no secret, Mr. President, that the White House and the Republican political machinery have used virtually every spending measure as a vehicle to attack the Democrats in the Congress. These attacks notwithstanding, many of us have felt it our responsibility to continue to support programs necessary to keep the basic economic and social fabric of the nation intact. Many on our side of the aisle will feel a similar responsibility to assist in stabilizing international financia l situati ons , but I think it is important -- in fact, e ssential -- that the Republicans in the House of Representatives make an early and substantive indication of support for these international measures which their own President is seeking. -' ' r '- The President Page Two May 4, 1983 Mr. President, with all due respect, I do not think you should expect the Democratic leadership and Members to carry this burden alone. FJStG:mLr Treasurer oeing Company ; "/?"Pb7? if 0 er o ittee on F ppropri . ea s On Beh ommeTc Treagurer The Boeing Company Before joining Boeing, "Jack" tional (Chicago). - He received a B.S. degree, summa cum laude, The School Georgetown University, and an M.B.A. degree, magna cum Jaude, The Business, University of Chicago. Jack Pierce has served as a member -of the Congressional Study Group, ttie Georgetown Center for Strategic and International Studies (GCSIS) - Georgetown Uni versity; member of Advisory Committee on Export Finance, office o United States Special Trade Representative (U.S.T.R.); member of National ,'X;ssociation of Manufac turers (NAM) Task Force on Export Credit; member of National.. For-eign Trade Council (NFTC) Committee on Export Financing; Chairman, International Committee, an Inter national Finance Committee - Aerospace Industries Association (A.I.A.); Chairman of: Seattle District Export Expansion Council - The President's Export Committee; Chair man, Washington State "Radio Free Europe" Fund; Pre·sident and member of tile board of MESBIC of Washington, Inc. (a minority enterprise small business investment cofpo_ratlon); Trustee, United Inner-City Development Foundation- (UICDE); Direc-tor, "'Business ana Industrial Devej opment Corporation of Washington (BID); E:ouncil member, The Pike Place Market Preservation and Development Authority; Trustee, the Pacific Northwest Aviation Historical Foundation (PNAHF); Trustee, The Center for Addiction ServJces (a : drug rehabilitation program); Trustee, The Seattle - Repertory Theatre; Trustee, The Empty Space Theatre Group. Mr. Pierce is co-founder and js Vice Chairman of Concepts for Independent Living, a non-rrofit Washington State Corporation involved with development of inde12enoent living pr--ograms for the severely lfandicappea. Re served as a member of the Special Education A:avisory Committee for Seattle_ Public Schools and Finance Chairman for the Seattle School "1.evy Committee; panel member for Regional Work-Group --Qn Employment of People with Disabilities. Without adequate support for the IMF, the private commercial banking sector may find it difficult to provide the necessary amount of financing required by developing nations (LDC'sj to foster economic growth. This might be particularly true of smaller U.S. regional banks. Hence, without supporting such measures - an increased funding for IMF - the U.S. export community may suffer a further reduced world market demand for its • products. Mr. Chairman: I am Jack Pierce, Treasurer of The Boeing Company. I am testifying today on behalf of the Chamber of Commerce of the United States. With me is Kathryn Young, Director -International Economic Policy at the U.S. Chamber. With your permission, Mr. Chairman, we wish to submit our formal statement for the record - and to provide an executive summary at this time. (granted by the chairman, Senator Kasten) My remarks are directed primarily from the viewpoint of the U.S. export industries. In today's economic environment, it is not difficult to explain why U.S. export companies - and the thousands of suppliers and subcontractors across the United States - as well as the many thousands of workers who depend upon a world-market business base - • support the U.S. Chamber of Commerce ... and welcome the oppor tunity to testify in support of the IMF. We want to urge prompt congressional action to approve the Adminis tration's request for an increase in the IMF's lending resources in the amount of $8.4 billion. We believe at this critical time, the IMF must have sufficient resources to maintain a stable international financial system which is essential to politico-economic security. Due to such urgency, the IMF increase should be included in the FY 83 budget supplemental IMF S.695. IMF provides the resources which are necessary to implement sound economic "adjustment" programs for those countries which require assistance. Healthy markets overseas mean opportunities for sales of U.S. goods and services which, in turn, provides jobs - and investments - in the • United States• 1 A strong connection exists between the IMF and world economic recovery (particularly the developing nations) and U.S. exports. • The developing c01mtries are our U.S. exporters fastest growing markets accounting for approximately 40% of U.S. exports which means jobs and economic growth in the United States. There is a link - a real link - between: Malawi Mozambique • • • and Milwaukee between &Ldan and Seattle Peru • • • and Pittsburg Portland Brazil • • • Bangladesh • . • Bolivia • • • and Boston These foreign markets "match up" with these U.S. cities where some of the 3,500 suppliers of Boeing are located, as well as the suppliers of other major U.S. exporters. Many of them are "invisible" exporters within an export industrial base - but directly "linked" to IMF's ability to do its job. The international financial system is under severe strain. Developing nations face many problems in meeting their debt-service requirements. • The IMF plays a major role. The IMF is uniquely suited to do the job provided it's resources are adequate to meet the task. IMF promotes a sound financial framework for the world economy. IMF has played a major role in moderating the severe financial strain. But - to continue to be effective - IMF will require a significant increase in its resources this year • • 3 3,486, 72• 3, 740, 14' 46,874 Based on 5-year average During 1978-1982, BCAC had an average of 2,316 small business suppli ers annually, with contracts averaging $4 34.5 million per year. Second-Tier Subcontractors Subcontractors of Ladish Company Cudahy, Wisconsin Subcontractors of Goodyear Aerospace Corporation Akron, Ohio There are thousands of "second tier" suppliers throughout the country. These are only three examples of second-tier .. networks. American Jobs Through Airplane Sales A. - ~ ~~ Jobs per S1 billion Nationwide 1 of initial airplane sales : j o b distribution Scientific Airframe manufacturer: 21,100 Instruments \._ Major suppliers: +21 , 100 Subtotal: 42, 200 Total aircraft industry jobs p er S1 billion in airplane sales2: 44,200 Which, with economic multiplier, creates even more jobs: - 104, 200 Jobs nation ·de: 148, O ospace ncusrnes ~.:ion s·...o, ~ Chase Economemc:s ~. 1962 a olars · Fo lo.·.-on· saies o Je riers and spares mroug 990 rota an ack1'1:,onal S23 t>tllion :one ·pb.. 1s one full-time equivalent worker-year. Total Supplier Dollars for 1978-1982 Based on 5-year average During 1978-1982, BCAC had an average of 3,535 suppliers annually, with contracts averaging S3.4 '-..._ La' '-- C...4-. - __ ~ ca • - ca. CII-- .... ~'- ..__.,. - ~ca. .,_.c.,.. _____ F.-____ ""'- , s..,..._ ... ~ ...... -~ear,._ .__- --~ca. -- - ... -----~-s,..• ------'- ..... ------■ -... l.oia _.._ ~c.,. --ca. ~ -- - F&I C:..-. -·-- ,_._ ._..,., -- "-""- ,.., -'--- Alill-1.ao'-'- ,_ ...,...c.,,,-.-- -- c.a.~- ~-- a..... - -- GuS,,,..C.,. -c.,.!l.u CIIC.,. L U ---c.,,n,..,._ -- -· -- lla""'-l!Jnd Ca.. - liv. ----l &fladustrm AfTII laSlnta .-.S --c.,. -----~6111Wlba -mis---- c.,.n• GtanOmcu. lK. Ftrte- AuQb: ITT Cannen Elednc ladisn Pacdic s,noer C..pany ■ ------Alpbl l us lries lllc. Grap C Clntrtb: C.-,. Gean nre & Rubber ---a,Fram Piper temp.any Amer ic,n Optial Greene. Tweed & C..pany --- Mo&orDCil Govemmenl Electr.-UCI Gnup Lakewood Enginemng Inc. Tedi Systems Ctrp. -Great Amencan- Industries. Im:. Frisbie:Mlg. P1mi1lco langleyCorporation Textron Inc_ Fafnir Bearing Div. Analag Devices Grumm,n Aerupace Corp. 6udtbr1d Bras. Silk C1. Inc. G & R MKhin,e & Tool Inc. Reynolds Metals Company le Fiell Mlg. Times Fiber Communications, Inc. Analogic Corp. Gull Airborne Instruments. Inc. Hankison Corp. Ga laxy Specialty Co. Sperry Rand. Sperry Flight Systems leachCorporalion Torrington Co. B. LH. Electronics HS M Machine Wor ks. Inc. Harowe Servo Controls Inc. Gemco hlley Industries of Arizona learSieglerlnc. TFICorporalion Barry Wright Corp. Helenorlnduslries Haro weSyslems General Can ■ Arkansas Liberty Engineering Company Unhollz •Oickie Corp. Bostik HuckMlg .. lnstallalionand Equ ip. Oiv. HendrickManulacluringCo. General El ectric Company Bemcolnc. Liquid Air Inc. United Nuc lear Corporation CompugraphicCorp. Hughes-TreitlerMfg. Corp. Hope Industries General Forest Products Chem.fab Corp. Litton Industries. Inc. Un ited Technologies Corporation Data General Corporation lnd uslrialAcouslicsCo. Horace T. Polls Company Gener al Plaslics Mlg. Co. Firestone Coated Fabrics Company Lockheed UOP Inc .. Aerospace Oiv. Oigilal Equipment Corp. Industrial Elastic Co. lncomlnternationat. Inc. General Welding Supply Garrison Engineering lone Star Industries UTC . Hamilton Standard Oiv. Dynamics Research Corporation Information Transfer Industrial Inc. lnlertecOesign.lr.c . Genuine Parts Co. Tiltany Stand & Furniture Co loud Engineering & Ml g. Inc. UTC . Pra11andWhitneyAircral!Group fenwallnc. ln lernationa l Paper Co. IESofTexaslnc. Georgia Pacific Corp. ■ California Lubri-film Inc. Xerox Corporation flexcon Co .. Inc. International Te lephone & Telegraph Co. J. W. Rex Company Giddenslnduslrleslnc. A & M Castings Inc. LPL Technical Services.Inc. ■ Delaware form Roll Die Corp. IBMCorporalion James G. Biddle Co. Graphic Chromatics A. T. Parker Company M. C. Gill Corporation Ametek lnc .. Haveg Div. General Electric Co. INCO Research & Development Center Jessop Steel Co. Graybar Electric Abex Corporation Machine Industries. Inc. Ansell Corp. Genrad.lnc. Kings Electronics Co .. Inc. Joseph T. Ryerson & Son. Inc. Great Western Chemical Able Engineering Corp. Mack Ma neslnterprises Inc. Champlain Cable Carp. Gould Inc .. Modicon Div. lmSieglulnc .. AvitronlnflDiv. Joy Manufacturing Guardsman Chemical Inc. Tech. Able Industrial Prodocts Company Magna Mill E. I. Dupont de Nemours & Co. Gulf& Western Industries. In c Lehigh K1 iser Alumin um , Erie Planl Guerin Mfg Co.. Inc. Ace Clearwater Enterprises Magna 11 uxCorp Hercules.Inc. Haskon Corporation lewis Engineering Com pany KtppG/mlnc Gull Assaaws AdCm tlnc Malabar Hyd ra ulics Com ny L J Brunne r Manulactunng Corp ,Inc•_ lnte111atienal e Chun 01v l.l blladlJri,ag Cerp -,.c.p,,y "'- Adams Rite l!l lg Ca ReyDINOS AJ 1ml Supc ly Cl __,.. ... -,.,,.__ ..... ,c- S5. --- OIM" ~• -~- 1..tt:aa EJtr;rg s.-s - • ... .. :....p .. --..- =--= - ...... S-. :W: .tas. ~- ---ca. ------• _...,. __ __ - - -c.,. . -ea.. t.r)o -C.,. .. ---- ,,._..._ -°"'- -ca. --Alf HM'blrMKin b Jel AdY"aicd lllicblilC.. Air ~USSria Corpontlon Mesa West Inc. A1rcnn ellb: Inc. -...-s,rap-.. , "-""- Air logistics Met-L-Chek Company. Inc Aircraft Panu Media Tens a.su-nts lac. f &__ c.... Air Maste r Products Corp. Metal Bellows Corp. Airtech--- Services. Inc. Titellex Carp. --- r.,,.- .... c- Air Vehicle Corporat ion Metric Machi ning All Spec Metals Inc. Unioo Tw ist Drill Ozalid C.11. ,., A.. Fm:se &C..llc. C.. Air•Hyd !Sun Vair] Metropolitan Wire Corp. Astro lnslrumenl Corp. Waltham Precision lnslrumenLlnc. Ozone lndatna. Inc. l'ol,-C.,.ol,_,..._ .. - Meyercord Company Inc. ACR Electronics Wanglaboralories. lnc. OK Machine & h• Ceqi. Ain:raUEngineeringCorp. PP& """""'" -- ~ AircraltHydro-Forming Micro Publication Systems. Inc Balmar Crimp Tool Corp Wyman Gordon Company Pa ll C.rporahan RuRand-lllc.C.U,-ga.-o adllaeC.paq ..,. ftlllll'SC.....,__..__ Ain:rall Tank Service Inc. Mikol / Missi le -Air Bendix Corp .. AvionicsOiv. ■ Michigan Peerless Radia Corp. Airdrome MiHerDiat Corp .. Fotoloil Div. Cleveland Pneumatic. Overhaul Div. AeroquipCoqxiralion Ph1bro C.rporaliOfl Rec:k well llllcnlitilnaJ &alfalll TIii i at Airmark Plastics Mob il mt Corp. Daylon- Granger Inc. ACME Manufacturing Co. Plessey Nortn America Corpora UDn Ruseomb l Nfa adaaC.,,rry ..__ Alalec Products MonadnockCompany DME Corp. Bastian Bless ing Co. Progress Electranics Co mpany Safrty Ltgbl Carp. lllliaslml a..cat L1iL lie.. AlborzformingCompany. Inc. Mon ogram Industries. Inc. Eaton Corp .. Culler Hammer Div. Bendix Corp. Rad iation Dynam ics Satec Sys teas Inc. INmtNI tr11ai a PICUII All Power Mf g Co. Murdock Machine & Engineering Fairchild Aviation Recorders Bendix Cour1er Ragen Data Systems Schraeder Brilhers Carp. llllimnal ..._ a SlfftJ AlllaslfasteningSystemslnc. MOB Systems Flight Equipment & Engineering Boslik Re eves 8ro1hers. Inc. Solid State Equ1p•ntC.p. 1asaec:w1 AlloySpolWelders MTS Sys1emsCorp. Future Metals. Inc. Brooks & Perkins. Inc. Relrigera11onSalesCo. lnc. Soulhce Inc. ~ lie. Alpaselnc. Nationa1 Processlndustries Gables Engineering Inc. BJR Mach ine & Gear Re ichhold Chemicals.Inc. Sperry Ri nd. Univac OIY lalaJlaial AUamil Corp .. Aluminum For9e0iv. National Starch and Chemical General Electric Co. C. 0. Porter Milchine Co .. Inc Rochester lnstituteolTechnolagy SKF lndtalna Inc. lateB:ltmaf Sala C.,. Aluminum Company of America National Tube-Fab & Engineering Co. Gould Inc .. Systems Eng ineering Labs Chem -Trend Inc. Rota File Carp. SPS Tedlollagres.lK. hilcsasalll!IIICI. Aluminum Die Casting Co. Inc. National Utilities Corp. Gr imes Manufacturing Co. Ciba-Geigy Corp_ Ren P1nllcs Div. Rotron. Inc. l ac Tee System Ille.. h"ry-SenplP'Waull Aluminum Precision PrlNlucls lnc. Nell Industr ies GroundSuppor1Engineering .lnc. Coll Ind_ Fast-Cut Tool Div Roya l Lubric ants: Tl!CNIIUI D,.._tl. r~ Am chem Products Inc Ne ill Aircraft Comp1ny Hmis Corp. Control Gag ing Inc. Sa fe Fhghl lnslrumen l Corp. Teld lu lac. J. D. Ill C..,U-, Amer ican Cyanamid Nelson Aerospa ce Inc. IBM Corporation Cooper Ai r Tool Suon Industries Titanium etals C.p.. Ttaet Div Jxt Opt UII Cl. Amer ican Pneu mati c Tool Co. Nelworks Electronic Carponl10n Kidde Inc.. Walter Kidde 01v. Cooper Elecirtlnics Schau Federal Seari ng Ca. Inc. Tra.nsiclillnc. Ja aJUa-.1&. American SaletyEquip. Com111 PrlNI. D1v . Newport Co nlro ls Midland Ros s Corp_ Gr imes Mfg. Cml1ve lnd uslnes ll 0etr11tllnc. Scheidel Manutactunng C.. Inc. U S. Sietl Corp«,titol J...U- 1K. AmericanSaletyflighl NordskogCompany Po lyplastex lnternaliona l 0-M-E Schlegel Cerp_ Roches te r Div. W ■ . A.. Sdt■ i d l & Sens. Inc Jeo-Cel-l.JII Ampex Corporation Northrop C!Jfpont1on Sangamo Weston. Oata Systems Div. OeVlieg Machine Co. Schweize r Aucritt Corpora tion ■ AhNt Island Jllba L Bird C.,aay Anad ite. lnc. Notthoff Eng ineering LA. Inc . Smiths Ind .. Clearwater Div. Dover Corp. De-Sta-Co. Div. Scott Avialian Avid Cerparalian Jlhn Perine Ce. Anillolndustries Orcon Corp. Tri-Star. Inc. OowCorningCorporation Sell-Powered Lighting Ltd. 8. T. R. Inc. Jones Chemical ApeironTechnologylnc. Otto H. Rosentreter Company UDP Inc .. Aerospace Div. OEA / Oigilal Electronic Automation Shaw Aero Devices Brown & Sharpe Mfg. Co. Jnseph T. Ryerson & Son. Inc Apex Ma chined Products Owen Engineering Company. Inc. UTC. Government Products Div. EatonCorp .. lebowProducts Simmonds Precision Producls Carol Cable Company K;iiser Aluminum and Chemic ArgerEnterprfses.lnc. Owens-Corning Fiberglass Wo lla rd Aircraft Equipment.Inc. Facet Enterprises.Inc. Sperry Rand Corporation Columbia Electronic Cable Kaman Bearings Armco Inc. PacificA rea Travel Assoc. ■ Georgia Fed. MogulCorp .. Arrowhead Prod. Div. Staging Associates. Lid. Coto Coil Co. Inc. Kennan Corp Arrowsmilhlndustrfes. Inc. Pacific Fiber and Rope Best Manufacturing FlexFablnc. Standard Gage Co. Dig ilronics Corp. Kenl Machining and Fabrica li ---- Pacilir. FMOl..,.,______...,·nt--&-A~Carpe!Oiv. kr~va-.Pr~lt;--lnc. SunChemitlM~II - El~s.lM:------Ktft!-M~. Arvan lnc Pac ific M1nia1ures Inc. Dixie Bearings. Inc. General Bearing Corp. Superior Mfg. & lnslru ment Federal Products Cor p Kirsten Pipe .t.r-1nlnd ANinylDiv Pacific Precision Inst r Dutch Va ll ey Supply Comp an y Genera l Electric Co . Carbology Div Te ch nical Screen Su pp li es ITT Royal Electric 01vm1n Korry Ma nulactunng Compan en Pacific Sc1en11lic Campany Electro Air Corpontion Gen eral Motors Corporation Tele phonies Carp Norton Comp.any KrlltUDS lac -n 1 · w-:.r: ;i i - a-- A rt Good year AulSPKf fog •~eG Fibra euca.llc A It Su. ~ ""l lac i 8-Y ~ 11& t· :.r.: ~ltl.."ac'5r'".I • : !a,.. I .. ----- C. '- ~ - • .111119Q ....aa. • S-.t.nlm :..If...... - S--.a:..W.. C.. ,_ - :,,_ --= '-' ... . l --- - ,_ -- .. --·- -- - ,_ - - - --"'-- ... ■ - --=--~ ~ -aai.ca ---- -....------01.-- -- - ■ - --C. -· ■ ---01.-- -- '- -· -· --- Ea.ea,_ - ~· ..._ ■ --_,_ "'-""- --- - AaraoSjlsa llt. 01.llt. ----~_,_ ,-c.,. -a..to.1. -- __ --si--,._.._~o... ---- - -... - UIC.,. __,..._..._ Autemml C.n Jlf Systtm.. lac atsa ...ltllln Py.-...... ---Dnol - F---Spiny IIHL Oldn ~ On PS h stenm:- AJIIK 1111111_ flu-4 P et Syste• 01v OcadentaJ Cbe-lltUI Cir, Teledyne Ava Ae ratructura Dl'nsttn tPltlSIA furuce Cl. Bmy WnglO C.,,. 8'rry llrf PSI Searing Amphenof CGmpany Ontan, Die Campany-- Ill Amenca Un1glasslndustrm Bel l-Me mphis Meisel f'hNdll'Nle C.rp -c..-Anad ite. Inc_ Kropp Forge Div. Paul We iland Inc. Vishay Measurements Group Globe Business Furniture M!lal Ferm. Inc. Bw1 te Metals Service Ouahty Aluminu m Forge Co. Bell Industries R. E. Alct ison Company Anixter Brothers. Inc. Peak In dustries ■ NorthOakota Gner-A Microdot Company Melra Steel. Seallle Steel Ser ---- Inventory locator Services Bending Tool. Inc. Radianllllumination Appleton Electric Company Sperry Rand. Sperry Vickers Div. Western6ear.Fligh1Structures0iv. Meyers Industries Bendix Corp. Ralee Appl ied Technology Syslems Valeron Corp~ Valenile Metals Div. ■ Ohio Laminile Plaslics. Conolite Div. Mine Safety Appl iances Co Benjamin Meta ls Company Raychem Corporation Automat ic Screw Machine Company Visioneering Inc A-T -0 lnc Soulhern Gauge Company Mobile Crane Company BlaisdellManulacturing. lnc. Regent Jack Mfg. Co. Inc. AARCorp .. AllenAirmUOiv . Weldunlnlernalionallnc. Aeroncalnc .. AerospaceGroup ■ Texas Modern Manufacturing Blue Chip Mfg. Regent Recorded Music.Inc AM International ■ Minneso ta Akromold. lnc. Aer.ospaceOplics.lnc. Modern Producls BondlineProducts ReidProducls 8 & K Precision Burlington Northern Inc. Allen Ai rc raft Alexander-Hunt Company Mo len Company. Inc. Bostik Reisner Metals, Inc. Barber- Colman Co. Cargill.Inc. Allen Bradley- Systems Div American Productivity Center Mo ore Business Forms. Inc. BoslonConsullingGroup Rel iance Universal Bealr iceFoodsCo. Control Data Corporation Alum inum Company of Amer ica Anadite. Inc. Morgan Bros. Brico EngineeringCo. Renarlndustrieslnc. BeldenCorporalion CC Engineering Co. AmericanSoc. lor Nondestructive Testing As1ro Products Murphy Electronics Inc. Briles Rivet Republic Corporation Bell and Howell D. L.V. tndustries Apex Machine & Tool Co. AviaU Inc. Nationa l Hea llh laboratori es Brooks & Pe rkins. Brownline Div. ResistollexCorp BendixCorp .. lnd . ToolOiv. Despalchlnduslries Armco Inc ASC Industries. Inc New Techlnduslnes Bruce Industries Rex Precision Products Belly Day Co mpany Fiberite Corpora1ion ArwolNI Corp Camsco Inc. Heral Preas. C., Bru ns wick Corp. Tec hnet1cs Div Rexnordlnc Tridairlndustr1es Binks Manulacturing Company Fluidyne Eng netr1ng Corp Aslfl MetallurgtQI Carp Cl.Ir\ A...lu C..wr TttJS " Q,,,.f',.,, ~,.,. ,,,_r,M '! ~_ .,,. !:~ t,htt ~ C,. _.,,,,_ 1· , W Ct S•een ~ s !\C H&r!'IWti c....- -:...E.a:rcta.- - ... ----- ..._..._ --_,_..._ -'-- - _..._ -__ --- -- G-taor-_..._ ------~~ --- C.--C.,,,sllc. Sal ...... s.m Pr1lll In -a.....~ lie. ~ C•rpenltr TedL. Specul Pnd.. Div. ~-Seaca Twist Orin & TIii Ce. r:i.,. Castte lndustrits. lnc. Sensor Systems E.lec&n •fltl C.p;aay - -- ■ ~-c.n... Sethco Mfg. Carp Everpure - Castle Prectsioo Industries 0-~ E ■er-sa Els. ta.. lby..an• ltrt a.---c.,_ Certiliedfuteners lnc. Sherwin Williams Fnstetllnc S,erry lbai. S,eny 1Cbn Di D.L- Ch,rtu Aircraft Supply Co. Shipley Co General lnstrumentCorporalion ■ M1ssoun lhmC., Chemical Energy Sh ultz Slttl Co. Gould. Inc lloltrllc. ---- Chevron lnternabonal Shur-Lok CorporallDn Guardian Electric Mlg. Ca. --ln -· ·i c., ... :a ·a P-yt C-::t"f ·'115.n&!!S.S " ¥pf' ,t:s Ca GIS,sHS ,_.__ ;,.._.:.-i_ iT,::o;... _, - ...._ iar•"' ___ _. .. _...._ ■ -ta< -=--fln~a.- =- -- .. -~ ··- bQN" --• --=--=-:a. --...Eilll .,...._...-----FS -- ...... ------Ill ------i.t--•---- ,.._ l'-•01. __ ---c....._-Jat.-t- u------=--c.,_ laall<. ~-~._.. ------:...... --- --...... -...... __c.,__ci--... -- r"""' ■ ------QM , --- .... -=-- ..._ Bcn--c._ TIii-Co-iie. -a-a,..~- -Elll'-•Coif Tiil llosurcU U1< ca,_ -c.,_ ___• lie...... Aamca TninsAenladmtna Alu ... Ceapany II --lA -----EDIS & Yins F9undrJ IDc. A-S '-7 --- Endevce Oyna111K Instruments Transamenca D.elanl. W1ggms Div Arvtn lnd_AmnylDiv. --_o,...... ,ac._ u... -c.,_ ■ Eon Corp. Transparent Product$ Corp. Bendix Carp. Bend ix c.r,. ... -...... AU Essex Chemical Corp. Tri-Spice Tool Corp. Cabot Corp .. Migh Technology Div. Benedict-Miller.Inc. \fukaa hllCa. A.C.-S.S Eureka Metal Sup ply Trig Aircra11 Corp. Chris Craft Ind _ Mono-Sol Oiv. Bergren Cable Technologies Warner & Swauy. T•ra1111 lhY Ainsna Enon Compan y U.S.A. Trig-Tek lnc. DCI Corporation Bobker Bearing. Aircrall Oivisian Weathuhea•C... Fa ber Enterp rises. Inc. Tru-BorM fg. lnc. Ex -Cell-O Corp .. Micro Precision Div. Bodine Tool & Machine Co .. Inc. Wesfingbause. Aera,ac:e Bectncal Div M'fila OemlQI ~ lie. Fabr icated Metals. Inc. Tu rner Ca sti ng Corp . 6enml M01ors. DelcoElectronics Breeze Corporal.Joos.Inc. Willis Machine & TIii Ct Adnace tun aw.. Factory Supply C:O . TA Mlg . Corp. Huckins Tool ind Oie Campany Burroughs Corp. ■ Oklahoma --Adnac.td h,r Praium Fai rchild Camera & Instrument Corp. TAB Producls Compan y Hurco Mlg . Compiny. lnc. Butlerlnlernilional.lnc. Be lger Carlige Company Aert Plasacs lac. FansteelCalilorniaOropForge TAD Technica l Service Corp. lnge rsotl• RandCompan y Chem plasl Inc. Facetlnterpmes.lnc. l utamerlllerwslllc.. Fed. Mogul Corp .. Arrowhead Prod uc~ Div. TD Materials Inc. logansporl Mac hine Com pany Consolidated Controls. Avlllnics Prod. 01v Lynx Company Alff_Sola..,._ Federal Manulacturing Corp . U. S. Divers Co. Mag navox. Govt.& lnduslr ial Elec Co. Cooperalive lnduslrits Milhon Machine & 11 Ca...... Ferro Corporation U.S. ElevatorCorp McGill Ml g. Co.. lnc. Curtiss Wrighl Corporal1on , .._, ,_ Fibe r Re sin Cor p. U. S. Polyme ric Inc. Sibley Mach ine and Fournlry EletU.IDc __ Fiber ite WestCoastCorp. Ultra Tool lnlerna11onat Sulla1r Carp1wa1J111 lie. •r:a-=--a; Fisher Forge Company U111t1Q1 rnu-.-, flea lttf I'd.JI I-at ,1,11,:; Ce .J" Ct. CM, ~ - :.,. •..r::assar-ies~x - ..... : =-~:..w...- .&EaCS.....:.-.. ~ :.- ...... =--- - ...__------ -- • -- flE- -Ui __ _,, ""'01. --__ ..._,__ -~ 9--- -..c-i-__tor>-_ .. --_..._ -"'----II _,_'"' ------... -___lie. t,n_ - -s.m ---en__..__..._ S,.k - '-'-9111:N:.. -~--'- --~-- :,,,. • 5f,uc.,_ ----· t.-C..-...... _,__ .---~ti. 31~---..... -""' _._,..01 - -'-'" - ... -...., c.,.__c..._ - - - -.er. --...... , ..._ ..._ --.. "- ,_._ ------""- - -c._ Traauatne:11mnl.K_.,l _ - r:i.,. --- '-"" __ ..._ __ i.-c._ c.c... --- -' ----8 I Pnlf. & On t-Sbuf C.,. RKII Cleaal ~ anus c..i Spnng C..pany Wntenlnstrumenlllnc. Nri Ctast Electnc Cl. c.,_ --- Honeywell Inc_ Test lm;lnuaent Div. Kansas Pl11i ng. Inc. ■ New Mexico Oregon Metall urg ical Corp. Buckner Weatherbf Ct. Ire. Wilson Products Inc. Rellingwd lnternatioRal - Holl ywood Film Compan y Manv ille Corporation King Rad io Avion icEnlerprisn. lnc. Owens-Corning. A&T Insulat ion Div. BullaloSanitaryW ipe rs Work Oppo rtun ities Hood Industries. In c. Marlin Mar ietta Aerospace. Denver Div. KAW Valve and FIiiing Co. De Vore Aviation Service Corp. OECO Burdge Bros. Mfg. Xerox Corporation ~8f'mf!eturi OEA . tnc.- land S Machine Company Soarton Southwest Pacilic Meta l Com11any Cablecralllnc. Zellerbach Paper Compilfly Huck Mfg .. Aerospace Div. Sla nl eyAviationCorp. McC arl ney M1 g. ■ New Yor k Pacifico Inc. Cad illac Plastic s ■ West Vi rg inia Hughes Aircraft Company ■ Conneclicut McGinty Machine Company. Inc Abex Corporation PecoMinulacturing Co Inc. Campbell Industrial Supply Butler Mlg. Co_ WalkerOiv. HraoOntut Am!fQI Cyil\imld. WI Che111. & PUSWS M1d-Cen1r11 ManuLactunng Inc. AdmicedAl ll ys. lnc Pe pca E.lectnc Cempany Canal lndUSlfQI Supply Eagle gC...... ,..Ser.. Saoplyllc. Cir .... Pa.::ellc. ". '.. /. wr-.s ..,.._Ca-r...... sia:.r--. .. ;p---~c-.--- ~~;,n. ·~JIL.all-- - ·:.- - -- '- 0t 1re:a-. Ila --- ■ -- -_,_0, .....-- ':a :.. --:.,_---- ...-- --- -·- -- -'-=---• ---~------=------...,_ ------!------:.SI_~- ·-~-----=---ti .. /.//t'7'c< ;\' p-t"I .y.!2 _g 0 t! r 70 //,/ ;100¥ THE WHITE HOUSE b £ WASIIINGTON 170/~ July 21, 1983 J7002-- _L7//?th ?t:J C?t? -¥~~ Dear Jerry: ~&£) _gff --.tl ~ I am writing to express my strong supp ort for pending legislation to rovide for U.S. 2artici pation in replenishments of the Inter-American As ian Develo2ment Banks and the African Develo ment Fund. This legislatio is art of H.R. 2957, which also provides for continued U.S . Earticipation in the International Monetar un l sfrengtnened supervision of international lending and reauthorization of the Export-Import Bank . United States participation in the multilateral development banks is an important means of promoting econom1c growth and development in the less developed countries , and complements our bilateral assistance programs. The proposed replenishments covered in this ·legislation are the result of extensive multilateral negotiations with all of our major allies , many of whom have already completed their legislat~ve procedures for contributing to these replenishments. It is · essential that the United States demonstrate its continued commitment to the cooperative effort undertaken through these institutions by completing promptly the necessary legislative steps to contribute to these replenishments. The proposed replenishments will provide critical development resources for countries of strategic importance to the United States in Latin America, Africa and Asia. Countries benefiting from these replenishments include Mexico and the Caribbean Basin countries . In addition, some of the poorest countries in the world such as Chad and Bangladesh will receive critically needed resources to combat poverty and famine.~ 2 Prompt enactment of this legislation will be a strong signal of U.S. resolve to assist the people of developing countries in their struggle to improve their own lives. I urge you and your colleagues in Congress to lend your strong support to this important legislation. Sincerely, The Honorable Jerry M. Patterson Chairman Subcommittee on International Development Institutions and Finance House of Representatives Washington, D.C. 20515 .. AUTOPEN1' NOT REVI EivED BY ORM.