STANFORD

COMMITTEE ON BANKING AND CURRENCY

HOUSE OF REPRESENTATIVES

EIGHTY-FOURTH CONGRESS

SECOND SESSION

ON

H. R. 8555

76350

APRIL 12, 13, 18, 19, 23, 24, 25, AND 26, 1956

Printed for the use of the Committee on Banking and Currency

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1956

CONTENTS

American Paper and Pulp Association___

H. R. 8555, a bill to assist areas to develop and maintain stable and diversi-

fied economies by a program of financial and technical assistance and

otherwise and for other purposes.

Statement of—

American Municipal Association_

Bailey, Hon. Cleveland M., a Representative in Congress from the

State of West Virginia_

Page

1

302

303

340

Barkin, Solomon, representing Textile Workers Union of America,

accompanied by John Edelman_.

177

Batt, William L., Jr., executive secretary, Toledo Industrial Develop-

ment Council.

Bass, Hon. Perkins, a Representative in Congress from the State

of New Hampshire...---

365

129

Blatnik, Hon. John A., a Representative in Congress from the State

of Minnesota....

389

Carrigg, Hon. Joseph L., a Representative in Congress from the State

State of Pennsylvania__

391

Celler, Hon. Emanuel, a Representative in Congress from the State

of New York, on behalf of New York Democratic delegation---

Crosby, J. Muir, executive secretary, Greater Wilkes-Barre Chamber

of Commerce..

310

292

Dempsey, Hon. John J., a Representative in Congress from the State

of New Mexico_..

350

Denton, Hon. Winfield K., a Representative in Congress from the

State of Indiana___

363

Elliott, Hon. Carl, a Representative in Congress from the State of
Alabama

375

Ezelle, Sam, secretary-treasurer, Kentucky State Federation of
Labor, AFL-CIO.

163

Fenton, Hon. Ivor D., a Representative in Congress from the State
of Pennsylvania__

317

Fernandez, Hon. A. M., a Representative in Congress from the

State of New Mexico.

361

Fernos-Isern, Hon. A., Resident Commissioner of Puerto Rico..
Flood, Hon. Daniel J., a Representative in Congress from the State
of Pennsylvania__.

373

378

Forand, Hon. Aime J., a Representative in Congress from the State

of Rhode Island__

368

Gray, Hon. Kenneth J., a Representative in Congress from the State

of Illinois

385

Hale, Hon. Robert, a Representative in Congress from the State of

Maine.

368

Hays, Hon. Brooks, a Representative in Congress from the State of
Arkansas.

320

Hughes, Goffrey, executive director, Southern Illinois, Inc., Carter-
ville, Ill.

205

Jennings, Hon. W. Pat, a Representative in Congress from the State
of Virginia___

Hyde, Hon. De Witt S., a Representative in Congress from the State
of Maryland.

361

346

Kearney, Hon. Bernard W., a Representative in Congress from the
State of New York..

336

Kee, Hon. Elizabeth, a Representative in Congress from the State of

West Virginia.......

349

Kennedy, Thomas, vice president, United Mine Workers of America.
Larson, Hon. Arthur, Under Secretary of Labor...

118

71

Statement of-Continued

Mead, Hon. James, representing New York State Department of

Commerce---

Mueller, Hon. Frederick H., Assistant Secretary of Commerce,

accompanied by Carl F. Oechsle, Victor Roterus, and Kenneth L.

McClure

Page

158

8, 35

Perkins, Hon. Carl D., a Representative in Congress from the State

of Kentucky.

333

Rabaut, Hon. Louis C., a Representative in Congress from the State
of Michigan___

348

Rhodes, Hon. George M., a Representative in Congress from the

State of Pennsylvania....

371

Riley, George D., legislative representative, AFL-CIO, accompanied

by Peter Henle...

99

Rosiclare Community Development Association, Rosiclare, Ill.

Saylor, Hon. John P., a Representative in Congress from the State

of Pennsylvania.

306

328

Seward, Pere F., Deputy Commissioner For Community Facilities,

Housing and Home Finance Agency-

96

Shoemaker, Perry M., representing the Chamber of Commerce of the

United States__.

249

Siler, Hon. Eugene, a Representative in Congress from the State of

Kentucky

366

Slayman, Charles H., representing the Ohio Chamber of Commerce,

Columbus, Ohio....

304

Steiner, Richard L., Deputy Commissioner, Urban Renewal Admin-
istration, Housing and Home Finance Agency-

85

Thompson, Hon. Frank, Jr., a Representative in Congress from the

State of New Jersey - -

313

Vanik, Hon. Charles A., a Representative in Congress from the

State of Ohio___.

384

Van Zandt, Hon. James E., a Representative in Congress from the

State of Pennsylvania...

331

Whitehouse, Albert, director, Industrial Union_Department, AFL-
CIO, accompanied by Oscar Jager and Frank Fernbach.

274

Additional data submitted to the committee by-
Chamber of Commerce of the United States:

Letter of April 19, 1956, to Hon. J. Edgar Chenoweth, from C. L.
Thomson_

264

Letter of April 26, 1956, to Hon. Brent Spence, regarding questions
by Hon. Abraham Multer.__

264

Dempsey, Hon. John J.:

Statement of Berl Huffman, New Mexico Economic Development

Commission__.

356

Statement of Fred C. Barron, Employment Security Commission

of New Mexico...

354

The Welfare Problem in Designated “Depressed Areas" in New

Mexico, article from New Mexico Department of Public Wel-

fare___.

Department of Commerce:

Allocations in 6 months ended December 31, 1955.

Credit authorizations during calendar 1955 by the Export-Import

Bank of Washington (extracted from semiannual reports)-

Monazite (technological description)___.

Statement of loans by the International Bank for Reconstruction

and Development (World Bank) during calendar 1955 (ex-

tracted from 10th annual report and supplement).

Statement of work of Office of Area Development, Business and

Defense Services Administration, United States Department of

Commerce, with reference to labor-surplus areas..

Statutory lending authority, appropriations made therefor, and

uncommitted balance of revolving fund, as of March 31, 1956__

Summary statement of business and disaster loans approved,

canceled, and disbursed, by fiscal years, as of March 31, 1956__

60

67

61

62

Page

321

322

322

Additional data submitted to the committee by-Continued

Hays, Hon. Brooks:

Low-income and level-of-living areas in agriculture (chart).

Percentages of commercial farms classified as low-producing farms,

United States, and generalized areas of low-production farms,

United States, 1950_.

The size of net money income received by farm-operator families;
South and non-South compared, 1949.

Kearney, Hon. Bernard W.:

Cognetta, James J., president, IUE-AFL-CIO, Schenectady,
N. Y., letter of March 25, 1956__

338

Kempf Buick, Inc., Amsterdam, N. Y., letter of April 24, 1956__.
Krokenberger, Fred, Amsterdam, N. Y., letter of March 24, 1956_337, 338
Morreale, S., United Steel Workers of America, Schenectady,

337

338

170

173

174

171

Per capita income (chart).

175

Table 1.-Unemployment and potential labor supply for Ken-
tucky areas_

172

Table 2.-Selected indicators of need for Kentucky employment
expansion___

172

Table 3.-Selected indicators of Kentucky econonic needs by area.

Meany, George, president, AFL-CIO, letter of April 18, 1956, to Hon.

Brent Spence

176

99

Southern Illinois, Inc.:

Article from Business Week, of January 28, 1956.

215

Fifteen Illinois Counties Struggle for Survival, article by Robert

E. Hanon, St. Louis Post-Dispatch, April 15, 1956.

Inland waterways of the United States (chart)

207

222

Know Southern Illinois, Inc.--

217

Number of farms, 1945 and 1954, in 16 southernmost counties of

Illinois_

218

Proposed canalized improvement for navigation, Big Muddy

River Basin and Beaucoup Creek, Ill. (chart).

224

Small Investment, Big Return-Green River Development Work
Spurs Optimism in Coal Region, article by Joe Creason,
Courier-Journal.

216

Southern Illinois Stake in Legislation for Depressed Areas, ex-

tension of remarks of Senator Everett Dirksen of Illinois,

Congressional Record, March 6, 1956__

Summary of Labor Market Trends, September 1955

240

212

Twenty Thousand Available Workers in Southern Illinois,
article from Illinois Labor Bulletin, November 1954---.

209

Toledo Industrial Development Council, Toledo, Ohio:

Capital investment required in 17 major chronic labor surplus

areas (groups D, E, and F) to reduce unemployment to 3

percent of labor force..

132

List of rapid tax-amortization certificates issued for facilities to
be located in surplus labor areas...