Weekly Radio Report: Gold Holdings & The Day of Bread

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c031_042.mp3

c031_042_tr.txt

Transcription (Scripto)

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Extent (Dublin Core)

6 Minutes, 45 Seconds

File Name (Dublin Core)

c031_042

Title (Dublin Core)

Weekly Radio Report: Gold Holdings & The Day of Bread

Description (Dublin Core)

In this weekly radio broadcast, Congressman Bob Dole discusses how the United States gold reserves have decreased over the past ten years. He compares our gold reserve and national debt with other countries. Dole discusses how foreign aid contributes to the deficit, and how the U.S. needs to cut spending, even in programs that sound good and idealistic, in order to reduce the deficit.

Date (Dublin Core)

Approximately 1963

Date Created (Dublin Core)

1963

Congress (Dublin Core)

88th (1963-1965)

Topics (Dublin Core)

See all items with this valueBudget deficits--United States

Policy Area (Curation)

Economics and Public Finance

Creator (Dublin Core)

Dole, Robert J., 1923-2021

Record Type (Dublin Core)

radio programs

Names (Dublin Core)

See all items with this valuePassman, Otto Ernest, 1900-1988

Rights (Dublin Core)

http://rightsstatements.org/vocab/CNE/1.0/

Language (Dublin Core)

eng

Collection Finding Aid (Dublin Core)

https://dolearchivecollections.ku.edu/index.php?p=collections/findingaid&id=84&q=

Physical Collection (Dublin Core)

Collection 031, Box 1

Institution (Dublin Core)

Robert J. Dole Institute of Politics, University of Kansas, Lawrence, KS

Archival Collection (Dublin Core)

Dole Audio Reels Collection, 1960-1979

Full Text (Extract Text)

This is Congressman Bob Dole with my weekly radio report from Washington. As in the past, I certainly wish to thank this station for carrying my weekly program as a public service broadcast.

One of the most respected members in the House of Representatives is a gentleman from Louisiana, Otto Passman. Mr. Passman is Chairman of the Foreign Operations Subcommittee, and as the chairman of this committee, plays a very vital role when it comes to foreign aid appropriations. And he has long been an advocate, not of eliminating foreign aid but, making certain that the American tax dollar is wisely spent, and I think this has been done ona completely objective basis, and certainly, the taxpayers of this country owe a great debt to the work of Congressman Passman.

Recently on April 5th, the other Members of Congress received from Mr. Passman, I think, a very startling letter about the gold holdings in the United States. He pointed out in his letter that on 1952 — on December 31, 1952 — our gold holdings in this country were $23.2 billion. He further pointed out that from 1952 to December 1962, the outflow of gold to foreign countries — our gold — amounted about $7.2 billion, so therefore that on December 31, 1962, the gold holdings — our gold holdings — in this country were reduced about $16 billion. He also stated, and I thought most effectively, that the gold holdings in other countries on December 31, 1952, was a little over $13 billion, and in the ten years from ‘52 through ’62, these holdings in foreign countries increased by $11.6 billion. So that as of December 31, 1962, the gold holdings in other countries amounted to $24.6 billion — in other words, a nearly $8 billion — [correcting himself] $8.5 billion more than we had in this country.

He also mentioned the gross public debt, and of course, this is very timely because before long Congress will be considering raising the debt ceiling again. On December 31, the U.S. public debt was $303.4 billion, and it's amazing and very interesting to know that the other free world countries’ total debt — the total debt of all the free world countries — according to the latest available figures was $201.5 billion. In other words, the U.S. debt — the national debt of this country — exceeds the debts of other countries — free world countries by almost $102 billion. And even more startling is the fact that our debt — the national debt in this country — exceeds the national debts of all other countries in the world — the free world countries and the communist countries by some $24 billion. And it certainly indicates to me that the foreign aid program, certainly playing havoc with our gold reserves and our balance of payments position.

It also points up to me, I think, one reason why Members of Congress can conscientiously disagree and vote against programs which may have very lofty purposes and high ideals. We have some: the Youth Training Corps, the Domestic Peace Corps, and the Foreign Peace Corps, the Accelerated Public Works Program, and many other welfare measures that, undoubtedly, have a very high purpose and they sound good, and of course, they would be good, if we had the money. But we're getting to a point, I believe, where we must consider primarily and first of all the financial situation — [correcting himself] the fiscal situation of our country, and we have a national debt that exceeds the debt of all other countries in the world, both Communist and free countries by some $24 billion. Certainly, I think it's high time we started paying closer attention not to what might appeal to some voters or might be attractive to other voters, but what it might be doing to the American taxpayer. And to me this is not a partisan issue, because whether you're Republicans or Democrats, or whatever you may be, or whether you're not active at all in politics, you are probably and without a doubt a taxpayer, and you have a right to insist that your money should be wisely spent by government. And that government should not launch into vast new programs — or in fact any new programs — which can be laid without any damage to our future programs. So, when some Member of Congress may vote against a program that you might be interested in, ask yourself the question, how much will this cost? How much will it cost me? How much will this cost my children and my grandchildren? And then don't forget that our national debt as of last December 31 was 3.3 — [correcting himself] $303.5 billion, and again, this exceeded the total debt of all other countries of the world by some $24 billion.

I think this is perhaps the most significant thing that will happen this session of Congress. If the people in Kansas and the people in this country will make their feelings known on this one point, I believe that you will have some real effect on Members of Congress. For unless they know that you agree with them, or that you disagree with them, as far as the spending money when we don't have it, then there's very little they can follow as a guideline, but you don't do it in your home, and I don't think you expect us to do it on a government scale. And certainly, I believe that while some programs may be very worthwhile and may have a real idealistic ring to them and may eventually do some good, the primary concern and the primary consideration in voting on any measure this year will be what will it cost and what will it do to our very shaky fiscal position?

Thanks again and write to me if you have any comments or suggestions. Just write: Bob Dole, Room 244, House Office Building, Washington 25 D.C. Thank you.

This is Congressman Bob Dole with my weekly radio report from Washington. As in the past, I certainly wish to thank this station for carrying my weekly program as a public service broadcast.

One of the most respected members in the House of Representatives is a gentleman from Louisiana, Otto Passman. Mr. Passman is Chairman of the Foreign Operations Subcommittee, and as the chairman of this committee, plays a very vital role when it comes to foreign aid appropriations. And he has long been an advocate, not of eliminating foreign aid but, making certain that the American tax dollar is wisely spent, and I think this has been done ona completely objective basis, and certainly, the taxpayers of this country owe a great debt to the work of Congressman Passman.

Recently on April 5th, the other Members of Congress received from Mr. Passman, I think, a very startling letter about the gold holdings in the United States. He pointed out in his letter that on 1952 — on December 31, 1952 — our gold holdings in this country were $23.2 billion. He further pointed out that from 1952 to December 1962, the outflow of gold to foreign countries — our gold — amounted about $7.2 billion, so therefore that on December 31, 1962, the gold holdings — our gold holdings — in this country were reduced about $16 billion. He also stated, and I thought most effectively, that the gold holdings in other countries on December 31, 1952, was a little over $13 billion, and in the ten years from ‘52 through ’62, these holdings in foreign countries increased by $11.6 billion. So that as of December 31, 1962, the gold holdings in other countries amounted to $24.6 billion — in other words, a nearly $8 billion — [correcting himself] $8.5 billion more than we had in this country.

He also mentioned the gross public debt, and of course, this is very timely because before long Congress will be considering raising the debt ceiling again. On December 31, the U.S. public debt was $303.4 billion, and it's amazing and very interesting to know that the other free world countries’ total debt — the total debt of all the free world countries — according to the latest available figures was $201.5 billion. In other words, the U.S. debt — the national debt of this country — exceeds the debts of other countries — free world countries by almost $102 billion. And even more startling is the fact that our debt — the national debt in this country — exceeds the national debts of all other countries in the world — the free world countries and the communist countries by some $24 billion. And it certainly indicates to me that the foreign aid program, certainly playing havoc with our gold reserves and our balance of payments position.

It also points up to me, I think, one reason why Members of Congress can conscientiously disagree and vote against programs which may have very lofty purposes and high ideals. We have some: the Youth Training Corps, the Domestic Peace Corps, and the Foreign Peace Corps, the Accelerated Public Works Program, and many other welfare measures that, undoubtedly, have a very high purpose and they sound good, and of course, they would be good, if we had the money. But we're getting to a point, I believe, where we must consider primarily and first of all the financial situation — [correcting himself] the fiscal situation of our country, and we have a national debt that exceeds the debt of all other countries in the world, both Communist and free countries by some $24 billion. Certainly, I think it's high time we started paying closer attention not to what might appeal to some voters or might be attractive to other voters, but what it might be doing to the American taxpayer. And to me this is not a partisan issue, because whether you're Republicans or Democrats, or whatever you may be, or whether you're not active at all in politics, you are probably and without a doubt a taxpayer, and you have a right to insist that your money should be wisely spent by government. And that government should not launch into vast new programs — or in fact any new programs — which can be laid without any damage to our future programs. So, when some Member of Congress may vote against a program that you might be interested in, ask yourself the question, how much will this cost? How much will it cost me? How much will this cost my children and my grandchildren? And then don't forget that our national debt as of last December 31 was 3.3 — [correcting himself] $303.5 billion, and again, this exceeded the total debt of all other countries of the world by some $24 billion.

I think this is perhaps the most significant thing that will happen this session of Congress. If the people in Kansas and the people in this country will make their feelings known on this one point, I believe that you will have some real effect on Members of Congress. For unless they know that you agree with them, or that you disagree with them, as far as the spending money when we don't have it, then there's very little they can follow as a guideline, but you don't do it in your home, and I don't think you expect us to do it on a government scale. And certainly, I believe that while some programs may be very worthwhile and may have a real idealistic ring to them and may eventually do some good, the primary concern and the primary consideration in voting on any measure this year will be what will it cost and what will it do to our very shaky fiscal position?

Thanks again and write to me if you have any comments or suggestions. Just write: Bob Dole, Room 244, House Office Building, Washington 25 D.C. Thank you.

This is Congressman Bob Dole with my weekly radio report from Washington. As in the past, I certainly wish to thank this station for carrying my weekly program as a public service broadcast.

One of the most respected members in the House of Representatives is a gentleman from Louisiana, Otto Passman. Mr. Passman is Chairman of the Foreign Operations Subcommittee, and as the chairman of this committee, plays a very vital role when it comes to foreign aid appropriations. And he has long been an advocate, not of eliminating foreign aid but, making certain that the American tax dollar is wisely spent, and I think this has been done ona completely objective basis, and certainly, the taxpayers of this country owe a great debt to the work of Congressman Passman.

Recently on April 5th, the other Members of Congress received from Mr. Passman, I think, a very startling letter about the gold holdings in the United States. He pointed out in his letter that on 1952 — on December 31, 1952 — our gold holdings in this country were $23.2 billion. He further pointed out that from 1952 to December 1962, the outflow of gold to foreign countries — our gold — amounted about $7.2 billion, so therefore that on December 31, 1962, the gold holdings — our gold holdings — in this country were reduced about $16 billion. He also stated, and I thought most effectively, that the gold holdings in other countries on December 31, 1952, was a little over $13 billion, and in the ten years from ‘52 through ’62, these holdings in foreign countries increased by $11.6 billion. So that as of December 31, 1962, the gold holdings in other countries amounted to $24.6 billion — in other words, a nearly $8 billion — [correcting himself] $8.5 billion more than we had in this country.

He also mentioned the gross public debt, and of course, this is very timely because before long Congress will be considering raising the debt ceiling again. On December 31, the U.S. public debt was $303.4 billion, and it's amazing and very interesting to know that the other free world countries’ total debt — the total debt of all the free world countries — according to the latest available figures was $201.5 billion. In other words, the U.S. debt — the national debt of this country — exceeds the debts of other countries — free world countries by almost $102 billion. And even more startling is the fact that our debt — the national debt in this country — exceeds the national debts of all other countries in the world — the free world countries and the communist countries by some $24 billion. And it certainly indicates to me that the foreign aid program, certainly playing havoc with our gold reserves and our balance of payments position.

It also points up to me, I think, one reason why Members of Congress can conscientiously disagree and vote against programs which may have very lofty purposes and high ideals. We have some: the Youth Training Corps, the Domestic Peace Corps, and the Foreign Peace Corps, the Accelerated Public Works Program, and many other welfare measures that, undoubtedly, have a very high purpose and they sound good, and of course, they would be good, if we had the money. But we're getting to a point, I believe, where we must consider primarily and first of all the financial situation — [correcting himself] the fiscal situation of our country, and we have a national debt that exceeds the debt of all other countries in the world, both Communist and free countries by some $24 billion. Certainly, I think it's high time we started paying closer attention not to what might appeal to some voters or might be attractive to other voters, but what it might be doing to the American taxpayer. And to me this is not a partisan issue, because whether you're Republicans or Democrats, or whatever you may be, or whether you're not active at all in politics, you are probably and without a doubt a taxpayer, and you have a right to insist that your money should be wisely spent by government. And that government should not launch into vast new programs — or in fact any new programs — which can be laid without any damage to our future programs. So, when some Member of Congress may vote against a program that you might be interested in, ask yourself the question, how much will this cost? How much will it cost me? How much will this cost my children and my grandchildren? And then don't forget that our national debt as of last December 31 was 3.3 — [correcting himself] $303.5 billion, and again, this exceeded the total debt of all other countries of the world by some $24 billion.

I think this is perhaps the most significant thing that will happen this session of Congress. If the people in Kansas and the people in this country will make their feelings known on this one point, I believe that you will have some real effect on Members of Congress. For unless they know that you agree with them, or that you disagree with them, as far as the spending money when we don't have it, then there's very little they can follow as a guideline, but you don't do it in your home, and I don't think you expect us to do it on a government scale. And certainly, I believe that while some programs may be very worthwhile and may have a real idealistic ring to them and may eventually do some good, the primary concern and the primary consideration in voting on any measure this year will be what will it cost and what will it do to our very shaky fiscal position?

Thanks again and write to me if you have any comments or suggestions. Just write: Bob Dole, Room 244, House Office Building, Washington 25 D.C. Thank you.