Milford chronicle., 1949-07-15
Sen. Frear Reviews
Washington Week

Back in January of this year
Senator Alben Barkley, now our
distinguished Vice President, in
troduced in the Senate on behalf
of himself and large number OF
colleagues a bill known as the lit
tie mans r. F. G. The measure
was given the number, S. 529, and
referred to the Senate Banking and
Currency Committee. 1t was my
pleasure to be a co-sponsor Of that
bill with Mr.. Barkley, and it so hap
pens, in addition, that ar a mem.
Der of that committee to which the
Legislation was referred.
The little mans r. F. C. Bill il
one that should be familiar to man!
Delawareans. 1t stems from th'
original Delaware Plan for Veter
ans, and was supported in earlie
sessions by Senator James M. Tun
nell, and later by Senator G. Doug
lass Buck.
/ have been much eoncernet
about getting this bill up for slctiv
consideration by our Senate Com
mittee. OF course, it was but on
of a great many measures whic
we have had to consider. Neverthe
4 less, because of the merits of thi
/ legislation, have been urging tn
Committee Chairman to act on it a
soon as possible. 1t is my feelin
as of this date that hearings on tn
bill will take place soon, and l al
most optimistic of its chance fO
success. This is primarily due
4 the fact that the measure has e1
tensive bipartisan support.
i In case some of you are not f;
miliar with the provisions of tn
Ebill, let me say that in word it
designed primarily to increase Il
prosperity of all our citizens an
+ to help secure the peace. 1t wi
aid our veterans and their neigl
boTs in all of sour communities,
no cost to our taxpayers and wit
out any appropriations by the Co
gress. Our National Veterans o
ganizations have described the pr
posal as "the most constructi'
piece of Veterans Legislation ev
introduced"
The basic purposes of the litt
mans r. f. C. are to develop und
J our free enterprise system our u
D used natural resources and our pr
Z ductiYe capacity, and to provide
D creased economic opportuniti'
). with particular emphasis on c
: reers for veterans. Under the pls
d a corporation will be created, ve'
8 ed with powers to provide Ion
term credit and technical advise
{ service to private business, int
i; yiduals, firms or corporations, a
if in addition to state and munich
e self-liquidating, public projec
with the condition that preferen
in new opportunities created, wol
be given to available qualified v
erans. The little mans R. F. G. "
h not compete with private bankil
but will aid the undeveloped are
at home and abroad where priv
capital desires to venture.
= Due to the fact that the corp
alton will borrow money throu
p the Federal Treasury, at it's p
in yailing low rate of interest
lend it at slightly higher rate,
nj appropriation of public funds
v be required. Experience indica
ol that the earnings of the corporal
nd will not only cover all administ
ld tive costs and losses, but should
ge turn a considerable profit to
ne treasury.
e. Stndies and inventories now
a ing made throughout the nat
ch show that there is not, a sin
x community, that does not need
i'll mediately, a development of
ng industries, new products, l
RS uses for agricultural products,
ct. clamation that will add acreage
n high value at minimum cost
new minerals. Studies of the ne
ch of foreign countries also re7
as very desirable opportunities
lis our people to supply the stagi
le- ing demand for American
On ducts and services throughout
ne m world.
- The Delaware Plan, then,
mo vides a first-class opportunity
many of our twenty million We
ans of both wars. 1t will be
ried out if Senate Bill 529 beco
a law. l do not believe that Il
is any other bill before our
gress which will accomplish
rd same purpose as this one, mar
that of reinforcing our Amer
system of free enterprise, and
offering insurance against DEP
the sion. 1t is my intention to
ln- the approval of this bill as qul
as possible. l trust l may
ua- the support of every Delawa
lsts in this endeavor.