Since American dollars used for foreign investment count on the negative side in the U.S. balance of payments, these controls encourage U.S. companies to finance overseas expansion by borrowing funds abroad.

A company may compute its investment quota on the basis of its average investment in the 1965-66 base period, or it may elect a quota based on the previous year's foreign earnings. Instead of using either of these methods, however, a company or individual may invest up to $1 million in 1969 without restriction. The program also limits the amount which a U.S. investor may hold overseas in liquid form.

The program was established January 1, 1968, following a large balance of payments deficit in 1967. American firms used more than $2 billion of foreign-borrowed funds to finance overseas expansion in 1968.

The Foreign Direct Investment Program while effective in achieving temporary balance of payments gains, was liberalized in April 1969, and is scheduled to be phased out of existence as soon as balance of payments conditions permit. It can be terminated when substantial gains are made in more fundamental balance of payments accounts.

This program promotes the economic development of those regions of the United States that lag behind the Nation as a whole. The basic premise of this program is that certain regions of our Nation are faced with common economic problems which extend beyond several State boundaries and which require region-wide solutions.

With the concurrence of the interested States, the Secretary of Commerce designates regions which have lagged behind the Nation in economic development. After the region has thus been designated, the Federal Government nominates a Federal executive to be Federal Co-chairman of the region. This appointment is subject to the confirmation by the Senate. Each Governor then appoints a State member of the commissionusually the Governor himself-and the commission is declared in existence for carrying out its assigned mission.

Regional commissions have been formed for all of New England and portions of the States in the following regions: Coastal Plains (North Carolina, South Carolina, Georgia), Four Corners, (Arizona, Colorado, New Mexico, Utah), Upper Great Lakes (Michigan, Minnesota, Wisconsin), Ozarks (Missouri, Arkansas, Kansas, Oklahoma), and Appalachia (Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, Tennessee, West Virginia). A regional-type organization also has been established to coordinate Federal programs in the State of Alaska.

An unending stream of information flows to the public through its publications, the press and other media. Much of the work of the Department of Commerce finds tangible expression in the publications generated by its offices and bureaus. In meeting the needs of a broad spectrum of users in the business, economic, and scientific fields, these publications range from weekly magazines to bound volumes running into hundreds of pages. Each is designed to provide some segment of the public with information which the Congress has authorized as a service of the Commerce Department.

Sales of Commerce printed materials exceed $10 million annually. This includes publications sold through the Government Printing Office and Commerce Field Offices, as well as charts and maps, patents and trademarks, and technical reports. Approximately one fourth of all receipts by the Superintendent of Documents came from sales of Commerce publications.

Running concurrently with the publications program is the information activity, from which press releases, texts of speeches, special articles, broadcasts, and various other services to the working press keep the public apprised of the programs of the agency and the progress of its work.

By direction of Congress the Department of Commerce has the statutory mission to promote domestic and foreign commerce. More recently it was given the task of promoting travel. In addition to being the principal information agency of the Federal Government, the Commerce Department is also the promotion agency. This imposes added responsibilities for maintaining effective channels of communication with the public.

The Department of Commerce not only maintains a flow of vital economic information to the public but makes a continuing effort to encourage wider usage by business and other elements in our national life.

Each constituent unit of the Department has an office of information to serve the public. The information programs are coordinated and directed by the Special Assistant to the Secretary of Commerce for Public Affairs.

Knowledge provides the central thrust for economic growth and progress. The dissemination of knowledge shares equal importance with its pursuit. You, the public, are urged to make fullest use of the wealth of knowledge and information your Government makes available at the Department of Commerce.