5958 CONGRESSIONAL RECORD- HOUSE May 4- to reinvest he would find that other bonds The motion was agreed to; and (at The SPEAKER. Is there objection to of like quality and terms are similarly high­ 5 o'clock and 47 minutes p. m.> the the request of the gentleman from Min­ priced. In effect he has just moved "side­ Senate took a recess until tomorrow, nesota? [After a pause. J The Chair wise" and maintained his investment posi­ Wednesday, May 5, 1954, at 12 o'clock hears none, and appoints the following tion. meridian. conferees: Messrs. O'HARA of Minnesota, What are the facts? TALLE, ALLEN of California, SMITH Of As has been generally acknowledged NOMINATION Virginia, and HARRIS. the bulk of the bonds went not to in­ vestors but to speculators. So raising Executive nomination received by the Senate May 4 (legislative day of April the issue of the return on other bonds RECESS is really begging the question. The fact 14), 1954: is that substantial capital gains were UNITED NATIONS DISARMAMENT COMMISSION The SPEAKER. The Chair declares made immediately upon the issuance of Morehead Patterson, of New York, to be the House in recess, subject to the call of the bonds and su-bsequently when the deputy representative of the United States the Chair. of America on the United Nations Disarma­ Accordingly <at 12 o'clock and 3 min­ deflationary consequences of the issue ment Commission during' the meetings of led to a general decline in the de­ utes p.m.) the House stood in recess sub­ the subcommittee, scheduled to begin at ject to the call of the Chair. mand for credit-as business activity London May 13, 1954. dropped-with a corresponding fall in rates and rise in bond prices. •• ~-~~~ •• For the banks and insurance com­ JOINT MEETING OF THE TWO panies the rise in long-term rates­ HOUSE OF REPRESENTATIVES HOUSES OF CONGRESS TO HEAR short-lived though it was-has resulted AN ADDRESS BY HIS EXCELLENCY in a substantial increase in net profits, TUESDAY, MAY 4,1954 THE G9VERNOR GENERAL OF though the volume of lending has since CANADA declined. The House met at 12 o'clock noon. The Chaplain, Rev. Bernard Braskamp, The SPEAKER of the House of Rep­ So, Mr. President, for the enlighten­ D. D., offered the following prayer: resentatives presided. _ ment of these two editors, in light of At 12 o'clock and 20 minutes p. m. the the facts which I have presented, I re­ Almighty God, our Father, as we again Doorkeeper announced the Vice Presi­ peat the charges which I made when I assemble in the fellowship of prayer, dent and Members of the United States first discussed the 3 7'4 bond issue, and may we be blessed with the assurance of Senate, who entered the Hall of the I respectfully refer to them to such au­ Thy guiding and sustaining presence. House of Representatives, the Vice thorities on the financial transactions Grant that our President, our Speaker, President taking the chair at the right of the Government as those which I have and all the Members of this legislative of the Speaker, and the Members of the cited in this account. body may be richly endowed with clear Senate the seats reserved for them. judgment and wise decision. The SPEAKER. · On the part of the May they be calm and courageous as House the Chair appoints as members of MESSAGE FROM THE PRESIDENT they daily find themselves challenged by the committee to escort His Excellency A message in writing from the Presi­ difficult tasks and heavy responsibilities. the Governor General of Canada, into dent of the United States submitting a Show us how our beloved country may the Chamber the gentleman from Illi­ nomination was communicated to the lift and lead struggling humanity out of nois, Mr. ARENDs; the gentleman from Senate by Mr. Miller, one of his secre­ the lowlands of fear into the lofty Texas, Mr. RAYBURN; the gentleman from taries. heights of freedom. Illinois, Mr. CHIPERFIELD; and the gentle­ May we continue to pray fervently and man from Illinois, Mr. GORDON. labor zealously for peace on earth and EXECUTIVE MESSAGE REFERRED The VICE PRESIDENT. On the part good will among men. of the Senate the Chair appoints as As in executive session, Hear us in the name of the Prince of members of the committee of escort the The PRESIDING OFFICER (Mr. Peace. Amen. Senator from California, Mr. KNOWLAND; UPTON in the chair) laid before the Sen­ The Journal of the proceedings of yes­ the Senator from Texas, Mr. JoHNsoN; ate a message from the Presid:mt of the terday was read and approved. the Senator from Wisconsin, Mr. WILEY; United States submitting the nomina­ and the Senator from Rhode Island, Mr. tion of Morehead Patterson, of New York, GREEN. to be deputy representative on the TIDRD SUPPLEMENTAL APPROPRI­ The Doorkeeper announced the fol­ United Nations Disarmament Commis­ ATION BILL, 1954 lowing guests, who entered the Hall of sion, which was referred to the Com­ Mr. TABER. Mr. Speaker, I ask the House of Representatives and took mittee on Foreign Relations. unanimous consent to have until mid­ the seats reserved for them: night to file the conference report on The Ambassadors, Ministers, and the bill (H. R. 8481) making supple­ Charges d'Affaires of foreign govern­ NOTICE OF CONSIDERATION OF mental appropriations for the fiscal year ments. NOMINATION OF MOREHEAD PAT­ ending June 30, 1954, and for other pur­ The Chief Justice and Associate Jus­ TERSON poses. tices of the United States Supreme Court. The SPEAKER. Is there objection to The members of the President's Cabi­ Mr. WILEY. Mr. President, the Sen­ the request of the gentleman from New net. ate received today the nomination of York? At 12 o'clock and 30 minutes p. m. the Morehead Patterson, of New York, to be There was no objection. Deputy Representative of the United Doorkeeper announced His Excellency States of America on the United Nations the Governor General of Canada. Disarmament Commission during the His Excellency the Governor General PUBLIC WORKS CONSTRUCTION, of Canada, escorted by the committee of meetings of the subcommittee scheduled DISTRICT OF COLUMBIA to begin in London on May 13, 1954. Senators and Representatives, entered Notice is given that the nomination will Mr. O'HARA of Minnesota. Mr. the Hall of the House of Representatives be considered by the Committee on For­ Speaker, I ask unanimous consent to and stood at the Clerk's desk. [Ap­ eign Relations after 6 days have expired. take from the Speaker's table the bill plause, the Members rising.] (H. R. 8097) to authorize the financing The SPEAKER. Members of the Con­ of a program of public works construc­ gress, it is my great pleasure and distin­ RECESS tion for the District of Columbia, and guished honor to present to you the for other purposes, with Senate amend­ Governor General of a great and friendly Mr. KNOWLAND. Mr. President, I ments thereto, disagree to the Senate people, the Right Honorable Vincent move that the Senate stand in recess amendments, and request a conference Massey, Governor General of Canada. until 12 o'clock tomorrow. with the Senate. [Applause, the Members rising.] 1954 CONGRESSIONAL ·RECORD- HOUSE 5959 ADDRESS OF THE RIGHT HONOR­ p.endence and in your Constitution were warmth · of the hospitality we receive ABLE VINCENT MASSEY, GOV­ a challenge to the British peoples in the when we are your guests. ERNOR GENERAL OF CANADA 18th century, and since, to seek out the We have a powerful neighbor. Your sources of their ancient freedom­ massive strength, economic and military, His Excellency the GOVERNOR GEN­ sources from which we all have fed. excites a sense of wonder at its magni­ ERAL OF CANADA. Mr. President, Mr. Thus, you helped us to cultivate our own tude. The dedication of this power to Speaker, and Members of the Congress, institutions under the Crown, which to us the cause of freedom evokes the ·grati­ first may I thank you for the high com­ is a symbol of freedom and duty. We are tude of all who love freedom every­ pliment you have paid my country this grateful to you for aiding us in the Com­ where. Your Canadian neighbors know morning, and for the warmth of your monwealth to preserve and enrich our that when you assumed the grave re­ welcome which has touched me very own way of life. sponsibilities you bear today, it was not deeply. I feel greatly honored that I Even at the very beginning, the noble of your choosing. And for what you have should be asked to meet, on this occa­ emotions inspired by the declaration of done, we honor you. sion, the Members of the two great leg­ the fathers of this Republic, and the We have a friendly neighbor. There islative bodies assembled in this Cham­ solid framework of the Constitution is no need to enlarge on the traditions ber. I am conscious at this moment­ which they built, were comprehended of neighborly good sense which for so and who would not be-of the relation and welcomed by many in Great Britain. long have marked our relations. We between the course of world ever..ts and I belong to a club in London-a strong­ can only hope that they may be reflected the decisions which are arrived at here. hold of the Whigs in the 18th century­ elsewhere in this troubled world. [Ap­ You have given me a rare privilege to­ many of whose members used to receive plause.] day, and I am very grateful to you for the news of General Washington's vic­ We are happy to think that we know it.