COMMITTEE ON BANKING AND CURRENCY HOUSE OF REPRESENTATIVES EIGHTY-FOURTH CONGRESS SECOND SESSION ON H. R. 9052 FEBRUARY 23, MARCH 5 AND 6, 1956 4.5 Congress House- Printed for the use of the Committee on Banking and Currency 74197 UNITED STATES WASHINGTON: 1956 HFI CONTENTS H. R. 9052, a bill to amend the Export Control Act of 1949 to continue for an additional period of 3 years the authority provided thereunder for the Barringer, Edwin C., executive vice president, Institute of Scrap Iron & Steel, Inc.; accompanied by William S. Story, director of Donaldson, F. Kermit, executive vice president, Steel Founders' McClellan, Hon. H. C., Assistant Secretary of Commerce, accom- panied by Loring K. Macy, Bureau of Foreign Commerce; John C. Borton, Director, Office of Export Supply; and Nathan Ostroff, Assistant General Counsel, Department of Commerce.. Rosoff, Morris, representing National Federation of Independent Ryan, Lowell D., managing director, Malleable Founders' Society - - - Wolcott, Robert W., chairman of the board, Lukens Steel Co--- Workman, Donald H., executive vice president, Gray Iron Founders' 84 173 1, 51 154 172 115 142 Iron and steel scrap situation. Administrative cases awaiting hearing or decision. Letter of March 7, 1956, to Hon. Brent Spence (enclosures). Price of steel scrap, pig iron, and finished steel, selected periods-- Trade of selected countries in iron and steel mill products, with world and with Soviet bloc, 1954 and January-June 1955 - - - Gray Iron Founders' Society, Inc., Cleveland, Ohio: Current operating rates of various marketing areas which co- Commerce Department Agrees That Restrictions on Scrap Iron Exports Are Not Advisable, article from Waste Trade Journal, REGULATION OF EXPORTS THURSDAY, FEBRUARY 23, 1956 HOUSE OF REPRESENTATIVES, COMMITTEE ON BANKING AND CURRENCY, Washington, D. C. The committee met at 10 a. m., Hon. Brent Spence (chairman) presiding. Present: Chairman Spence and Messrs. Brown, Patman, Multer, O'Hara, Mrs. Sullivan, Messrs. Reuss, Wolcott, Talle, Kilburn, McDonough, Widnall, Betts, Mumma, McVey, Nicholson, and Bolton. The CHAIRMAN. The committee will be in order. (H. R. 9052 is as follows:) [H. R. 9052, 84th Cong., 2d sess.] A BILL To amend the Export Control Act of 1949 to continue for an additional period of three years the authority provided thereunder for the regulation of exports Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 12 of the Export Control Act of 1949 (63 Stat. 7), as amended by Public Law 33, Eighty-second Congress (65 Stat. 43), and Public Law 62, Eighty-third Congress (67 Stat. 62), is hereby amended by striking out "1956" and inserting in lieu thereof "1959". The CHAIRMAN. We have with us this morning Assistant Secretary McClellan of the Commerce Department, testifying on a bill to extend the Export Control Act. Mr. McClellan, you may proceed as you please. STATEMENT OF HON. H. C. MCCLELLAN, ASSISTANT SECRETARY OF COMMERCE; ACCOMPANIED BY LORING K. MACY, BUREAU OF FOREIGN COMMERCE; JOHN C. BORTON, DIRECTOR, OFFICE OF EXPORT SUPPLY, BUREAU OF FOREIGN COMMERCE; AND NATHAN OSTROFF, ASSISTANT GENERAL COUNSEL, DEPARTMENT OF COMMERCE Secretary MCCLELLAN. Mr. Chairman, my name is H. C. McClellan. I am Assistant Secretary of Commerce for International Affairs. I have a prepared statement which will take about 12 minutes, which I would like to read, if you have no objection. The CHAIRMAN. You may proceed as you please. We are very glad to have your statement. Secretary MCCLELLAN. I wish to thank you for the opportunity to appear before this committee to explain the need for continuing the Government's authority to regulate exports. Under present law, this authority will expire on June 30 of this year, and Secretary of Commerce Weeks, in his letter of January 31, 1956, recommended that they 1 |