Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-30
Anderson Faces
u. S. Debt Quiz
DIV the Associated Pre.,

4 - eAtp nneoNtepoo EAOos
Senator Gore, Democrat of
TENNESSEE. said today he intends
TO question Robert B. Anderson
closely about how. as Secretary
of the Treasury. he proposes to
manage the Governments huge
debt. a
Mr.. Anderson. a former De-
Tense ofiicial, was nominated
yesterday by President Eisen-
hover to succeed George w.
Humphrey in the cabinet post.
Mr.. Humphrey, who for more
than four years has been per-
haps the most influential man
in the Eisenhower cabinet. told
the President he wanted to leave
Iby the end Of this session Of
Congress. W
While Senate confirmation Of
mr.. Anderson seemed assured.
Senator Gore emphasized In an
interview that he regards the
handling Of the $273 billion
public debt as q serious problem
In light Of the Treasury.s recent
difilculty in refinancing Govern
ment securities even at higher
interest rates.
Senator Gore, q member Of
the Senate Finance Committee
which will consider the ncmina-
ton. said Mr.. Anderson would be-
taking over the helm In the
Treasury Department in the
midst Of what Senator Gore
called "a critical situation"
No Date Set
Just when the committee will
hold its hearings is uncertain.
since no date was fixed by the
67-year-old Mr.. Humphrey for
stepping out Of the cabinet post.
In a letter to Mr.. Eisenhower,
Mr.. Humphrey asked only that
he be relieved mo later than the
close of the current congress
sianai session."
Senator Byrd, Democrat Of
Virginia Finance Committee
chairman, said he understood
that Mr.. Humphrey probably
would stay in ofiice until about
the time Congress adjourns. This
may be In early August.
He did not make clear whether
hearings on Mr.. Anderson's NOM
ination. would be held before or
after the finance committee
starts on June Is q broad in
quiry into the Nations financial
condition including the Govern
ment economic and fiscal poll
cies.
Critic Of Interest Policy
Senator Gore Is among Senate
Democrats who have commended
that the administration has fol.
lowed a deliberate policy OF
forcing interest rates higher at
the expense. they say, Of small
businessmen. home buyers and
others.
Democrats generally have
sought to make an issue Of the
flight money" policy Of the ad-
ministration. while Republicans
have defended It as helping to
bank the fires Of IMITATION.
4 Senator Bush. Republican Of
Connecticut. told the Senate
yesterday that Mr.. Humphrey
had done much to arrest the
infiationary trend that was
Iplaguing the country at the time
of the 1852 election"
i Senator Byrd praised Mr..
Humphrey as IAN outstanding
public servant" and said he
win be sorely missed" He also
said he regarded Mr.. Anderson
as AN excellent choice" to sue
coed Mr.. Humphrey. Senator
Bush and other Senators voiced
like views.
While Senator Gore made
clear that he expected the Sem
ate to confirm Mr.. Anderson'sI
nomination, he said he and other
Finance Committee members
wanted to learn Mr.. Anderson's
views with respect to the man.
agement Of the public debt.
Securities Maturing
About $3l billion in various
kinds Of Government securities
are due to mature before the
end Of the year. and an addi-
tional $40 billion between Janu-
airy and the end Of the 1858
fiscal year next June 80.
Earlier this month, when more
than 81 billion in Treasury notes
came due. only ~ per cent Of the
old notes were traded in for the
new ones offered by the Govern
ment. even though the new ones
carried an interest rate higher
BY about per cent.