Smyrna times., 1949-07-14
STATEMENT BY
SENATOR FREAR
Activities Covering Current
Congressional Matters in
Which He Is Involved
HEADS SUBCOMMITTEE

Back In January OF this year,
Senator Alben Barkley, now our
distinguished Vice President, intro
duced in the Senate on behalf of
himself and large number of col
leagues a bill known as the little
mans R.F.C. The measure was
given the number S. 529, and re-
ferred to the Senate Banking and
Currency Committee. 1t was my
pleasure to be co-sponsor of that
bill with Mr.. Barkley, and it so
happens, in addition, that I am
member of that committee to
which the legislation was referred.
The little mans R.F.C. Bill is
one that should be familiar to
many Delawareans. 1t stems from
the original Delaware Plan for
Veterans, and was supported in
earlier sessions by Senator James
M. Tunnel, and later by Senator
C. Douglas Buck.
have been much concerned
about getting this bill up for active
consideration by our Senate Com
mittee. OF course, it was but one
of great many measures which
we have had to consider. Never
theless, because of the merits of
this legislation, I have been urging
the Committee Chairman to act on
it as soon as possible. 1t is my
feeling as of this date that hear
ings on the bill will take place
soon. and I am most optimistic of
its chance for success. This is
primarily due to the fact that the
measure has extensive bipartisan
support.
In case some of you are not fam
liar with the provisions of this
bill, let me say that in word it is
designed primarily to increase the
prosperity of all our citizens and
to help secure the peace. 1t will
aid our veterans and their neigh
bors in all of our communities, at
no cost to our taxpayers and with
out any appropriations by the Con-
gress. Our National Veterans Or
ganizations have described the pro-
posal as 1.-THE most Constructive
Piece of Veterans legislation Ever
introduced"
The basic purposes of the little
mans R.F.C. are to develop under
our free enterprise system our un-
used natural resources and our
productive capacity, and to provide
increased economic opportunities,
with particular emphasis on car
GERS for veterans. Under the plan,
a corporation will be created, vest
ed with powers to provide long
term credit and technical advisory
service to private business, indi-
yiduals, firms, or corporations, and
in addition to state and municipal
self-iquidating, public projects,
with the condition that preference,
in new opportunities created,
would be given to available quail
fled veterans. The little mans r.
F.C. will not compete with private
Banking, but will aid the undevel-
oped areas at home and abroad
where private capital desires to
venture.
Due to the fact that the corpora
hion will borrow money through
rhe Federal Treasury, at its pre-
.vailing low rate of interest and
aend it at slightly higher rate, no
appropriation of public funds will
be required. Experience indicates
that the earnings of the corpora
tion will not only cover all admin
astrative costs and losses, but
should return a considerable profit
TO the treasury.
Studies and inventories now be-
ing made throughout the nation
show that there is not, single
community, that does not need i'm
mediately, development of new
industries, new products, new uses
for agricultural products, rec1ama-
tion that will add acreage of high
value at minimum cost and new
minerals. Studies of the needs of
foreign countries also reveal very
desirable opportunities for our peo-
pie to supply the staggering de-
CONTINUED on Page Nine)