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permit us to plan our disposition programs well in advance for fiscal year 1958 and facilitate the orderly disposal of commodities during that period. As a matter of fact, the additional $1 billion will result in title I shipments at the same level, or at a higher level, than the $700 million in shipments which will move this year.

In programing the additional authorization our emphasis will continue to be concentrated in underdeveloped, low income countries. Sales will be made to expand consumption, to regain or establish new markets, to meet foreign needs arising from crop failures, and to expand reserve stocks overseas.

We have limited our request to an additional $1 billion and a 1-year extension because we believe it desirable that the results obtained under this program be subjected to a periodic review. This request also emphasizes the Administration's position that Public Law 480 is a temporary program designed to deal primarily with accumulated farm surpluses. Such a periodic review also permits consideration of alternative methods of surplus disposal and other actions aimed at expanding normal export markets.

TITLE II AND SECTION 304

We recommend an increase of $300 million in the title II authorization. Since current commitments are about $300 million, this will have the effect of restoring the authorization to the existing $500 million.

This program is of great value to the United States. It provides a means by which we can help friendly foreign people in time of need. Recent events can illustrate what is done under this program. Title II has furnished commodities to help feed Hungarian refugees in Austria; it has alleviated distress caused by floods in Afghanistan and Iran; it has furnished relief to Bolivia and Tunisia.

Title II activities are administered by the International Cooperation Administration, although the commodities are supplied by CCC. In addition to my associates, we have representation from ICA here today to answer questions concerning this program.

We also have State Department people here, particularly because of the recommendation to repeal section 304 of the act. This would be helpful in our foreign policy objectives since it would enable us to send our agricultural surpluses to Eastern European satellites in exchange for strategic or other material. In view of recent events in Europe, we feel that this new authority, administered on a selective basis, would permit us to send agricultural surpluses to satellite countries in exchange for useful material when it is clearly in the national interest to do so.

(The following documents were submitted by Mr. Garnett:)

TITLE I, PUBLIC LAW 480 SALES AGREEMENTS SIGNED JULY 1, 1954 - DECEMBER 31, 1956, BY SIX-MONTH PERIODS

BILLION DOLLARS

2.5

(Export Market Value, Including Ocean Transportation and Estimated CCC Cost)

Total Estimated
CCC Cost
$2.8 Billion

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QUANTITIES AND ESTIMATED EXPORT MARKET VALUE OF COMMODITIES EXPORTED UNDER TITLE I, PUBLIC LAW 480, JAN. 1955-DEC. 1956

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Includes $6 million estimated for ocean freight differential for which no rupee deposits are required. The balance, $54.2 million, only, is reflected in the currency use table.

Public Law 480 agreements signed from beginning of program-Continued

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