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TO PROVIDE FOR FINANCIAL CONTROL OF GOVERNMENT CORPORATIONS

HEARINGS

BEFORE THE

COMMITTEE ON EXPENDITURES IN THE
EXECUTIVE DEPARTMENTS

HOUSE OF REPRESENTATIVES
SEVENTY-NINTH CONGRESS

FIRST SESSION

ON

H. R. 2177

A BILL TO PROVIDE FOR FINANCIAL CONTROL
OF GOVERNMENT CORPORATIONS

74344

MAY 23, 24, 29, 30, 31, AND JUNE 1, 5, AND 6, 1945

Printed for the use of the Committee on Expenditures in the
Executive Departments

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CONTENTS

Letter from President Harry S. Truman...
Bill H. R. 2177_

Reports, departmental and corporation:

Comptroller General of the United States..

Director, Bureau of the Budget ___.

War Department (for Panama Railroad Company and United States
Spruce Production Company)__

Federal Deposit Insurance Corporation...

Tennessee Valley Authority

Department of Commerce (for Inland Waterways Corporation and
Warrior River Terminal Company).

Page

4

1

5

9

10, 14

15

21

26

Office of Inter-American Affairs (for Institute of Inter-American
Affairs, Inter-American Educational Foundation, Inc., Institute
of Inter-American Transportation, Inter-American Navigation
Corporation, and Prencinradio, Inc.).

28

Foreign Economic Administration_

Secretary of the Interior (for Virgin Islands Company)

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Smaller War Plants Corporation..

Rubber Development Corporation..

Tennessee Valley Associated Cooperatives, Inc.

Attorney General of the United States (for Federal Prison Industries,
Inc.).

Export-Import Bank of Washington

31

31

33

41

42

45

46

47

54

Department of Agriculture (for Farm Credit Administration)

War Food Administration (for Commodity Credit Corporation and
Federal Crop Insurance Corporation) _ .

59

64, 66

Treasury Department.

69

Alien Property Custodian..

70

Statements:

Warren, Lindsay C., Comptroller General of the United States--
Byrd, Hon. Harry Flood, a United States Senator from the State of
Virginia..

71

97

Butler, Hon. Hugh, a United States Senator from the State of Nebraska..

116

Weitzel, Frank H., principal attorney, General Accounting Office............
Smith, Harold D., Director, Bureau of the Budget_
Bartelt, E. F., Fiscal Assistant Secretary of the Treasury.
Garman, C. G., treasurer, Commodity Credit Corporation_

121

135

149

189

Wright, J. Carl, manager, Federal Crop Insurance Corporation__

222

Duggan, Ivy W., Governor, Farm Credit Administration..
Duggan, Ivy W. (resumed)-

231

249

Martin, W. W., Director, Farm Credit Board, St. Louis, Mo.-
Cagle, J. E., president, Federal Intermediate Credit Bank, Columbia,
S. C.

260

279

Cagle, J. E. (resumed).

287

Rice, Col. E., president, Federal Land Bank, Louisville, Ky. (for
R. L. Thompson, president, Federal Land Bank of New Orleans) __
Thomson, S. M., president, Baltimore Bank for Cooperatives_ .
Munger, H. B. (for Production Credit System)_

303

318

322

Powell, John S., acting president, Inland Waterways Corporation, and president, Warrior River Terminal Company)..

325

Kefauver, Hon. Estes, Member of Congress from the State of Tennessee.

345

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