Word: capeharts
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...roll on the White House lawn. Two separate inquiries have been started in the Senate alone. Squabbles over who is to get the juicier witnesses seemed to be developing between Senator Harry F. Byrd (Joint Committee on the Reduction of Non-Essential Federal Expenditures) and Senator Homer E. Capehart (Senate Banking Committee). Capehart claimed the probe as within his group's legitimate jurisdiction; Byrd countered that his committee had been quietly looking into the matter for several months...
...first week, Senator Caprhart seemed to have gained a decided advantage. He had succeeded in grabbing off the stars of the scandal--Hollyday, Powell, Greene and Cole--as witnesses. Top billing went to Powell who raised Capital Hill eyebrows by invoking the Fifth Amendment. Capehart was optimistic about the proceedings. He announced that he was going to ask for $250,000 to carry on the work and predicted that a thorough investigation might take as long as a year...
Senator Byrd appeared to be slipping badly. Against Capehart's all-star cast, Byrd offered only T. Coleman Andrews, Commissioner of Internal Revenue. But as if to prove that his Joint Committee on the Reduction of Non-Essential Federal Expenditures was as good as its name, Byrd announced that he could run the inquiry without additional costs. The Senate evidently favored Capehart, and awarded $150,000 to the Banking Committee for operational expenses...
...post-Korean sag in metals also severely jolted some metal-exporting foreign countries, and the higher goals may allow some stockpile" purchasing abroad. The Randall Report, the Milton Eisenhower Report on Latin America and the Capehart Report on defense production all recommended increased stockpiling as a sound way of bolstering wobbly foreign economies. Last week the Administration gave one neighbor a lift by agreeing to buy up 100,000 tons of Chilean copper...
...Capehart particularly stressed expansion of the Export-Import Bank rather than the World Bank. He reasoned that Export-Import i) favors loans to private (including U.S.)companies in Latin America, and 2) requires that imported machinery and equipment used in its developmental projects come from the U.S. (The World Bank lends mainly through governments, insists that equipment be bought where cheapest.) Capehart's recommendation collides with the policy of Secretary of the Treasury George Humphrey, who has cut Export-Import Bank loans to a minimum for reasons of general economy. When this issue comes up for settlement, probably before...