May 11, 1967
Page 12429
FOREIGN TRADE
Mr. MUSKIE. Mr. President, the Subcommittee on International Finance of the Committee on Banking and Currency has been concerned about aspects of foreign trade relating to matters under the jurisdiction of this committee. Two years ago we held extensive hearings on the subject of the balance of payments, including the relation of the balance of payments to our gold supply and the effect on Federal Reserve requirements. In addition, matters relating to East-West trade have come to the attention of the committee by reason of our concern as to the administration of the Export Control Act, the Defense Production Act, and the Export-Import Bank Act.
Accordingly, I announce that the Subcommittee on International Finance will undertake a study of these matters. It is our intention to make a staff study over the coming weeks, to be followed by public hearings at which the interested departments, persons, and organizations interested in foreign trade, and the public generally may have an opportunity to present their views and give information to the subcommittee.
Further notice will be given when the dates for these hearings have been specified so that those interested can request an opportunity to be heard.