Michael Castle

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2657) to award a congressional gold medal to Ruth and Billy Graham.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today I rise in support of H.R. 2657, the bill to award a congressional gold medal to Ruth and Billy Graham. Members on both sides of the aisle support H.R. 2657. Included on the list of 296 cosponsors are Speaker Gingrich, Majority Leader Armey, and Majority Whip DeLay. Chairman Leach of the Banking Committee, Ranking Minority Member Gonzalez, and Representative Flake, ranking minority member of the subcommittee are also cosponsors. Throughout their lives Ruth and Billy Graham have made great contributions to American society. They are religious leaders and role models. Their commitment to each other and their marriage is something both rare and wonderful in today's society. Billy Graham's crusades, daily newspaper column, and books have helped millions of people in need. Ruth and Billy's support of the Children's Health Center in Asheville, NC is yet another example of their dedication to the health and well-being of our Nation's children. H.R. 2657 complies with Banking Committee rules regarding the authorization of congressional gold medals. Although a committee markup was not held, a majority of both committee and subcommittee members are cosponsors. There is no opposition from Members of Congress or the U.S. Mint. The Memorial Mission Medical Center and its not-for-profit foundation have offered to cover the costs for designing and striking the medal, up to $25,000. The Congressional Budget Office reports a possible impact to the Federal budget of about $10,000, depending on sales of the duplicate medals. All donations and proceeds in excess of the cost of designing and striking the medal will be given to the Library of Congress. Mr. Speaker, because the U.S. Mint normally needs about 6 months to produce a congressional gold medal, and we hope to present this medal to the Graham's in the late spring, we need to move quickly to pass this bill. I urge the immediate adoption of H.R. 2657. Mr. Speaker, I reserve the balance of my time.

Mr. CASTLE. Mr. Speaker, I object to the vote on the ground that a quorum is not present and make the point of order that a quorum is not present.

Mr. CASTLE. Mr. Speaker, I yield back the balance of my time. Mr. SPEAKER pro tempore (Mr. White). The question is on the motion offered by the gentleman from Delaware [Mr. Castle] that the House suspend the rules and pass the bill, H.R. 2657.

Mr. CASTLE. Mr. Speaker, I would like to thank the gentleman from New York [Mr. Flake], our ranking member. I must say I do not think we have ever had a cross word in the over a year that we have worked together. Our legislation, as is most true in this particular bill today, is generally positively received. We are blessed in that way. Working with the gentleman from New York and his staff has been an extraordinary pleasure, and I look forward to the balance of our time together.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume, and I will be very brief and then yield back the balance of the time. Mr. Speaker, as a layperson and one who is not involved in the clergy as the distinguished ranking member is, and without being as eloquent as he is on the subject, it is wonderful to admire from afar and from television, an individual and a couple who have lived the way we would like the heroes of America to live. Mr. Speaker, so often we see people, individuals who are flawed in all walks of life and we make them our role models and somehow they fall. This is a couple that not only is not going to fall, but has risen from pedestal to pedestal and we admire them greatly. This coin that we are dedicating today is well earned. Mr. Speaker, I would like to thank all of those who were able to come to the floor and speak. I would remind those who were not able to, that they could submit statements at the end.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume to say that there was one other person who clearly wanted to speak, and there are two others who have contacted us that they are trying to get here, but they are not presently with us. Mr. Speaker, I yield 2 minutes to the gentleman from Texas [Mr. Stockman].

Mr. CASTLE. Mr. Speaker, I yield 2 minutes to the gentleman from North Carolina [Mr. Burr], yet another distinguished Member.

Mr. CASTLE. Mr. Speaker, I yield 5 minutes to the gentleman from North Carolina [Mr. Taylor], the primary sponsor of this legislation. (Mr. TAYLOR of North Carolina asked and was given permission to revise and extend his remarks.)

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today I rise in support of H.R. 2203, a bill that protects American businesses from unfair trading practices of other countries, primarily Japan and Germany. I am grateful to enjoy the support of Representative Jim Leach, chairman of the Committee on Banking and Financial Services. On the other side of the aisle, Representative Gonzalez, former committee chairman, and Representative Flake, the ranking member of the subcommittee have provided their strong support for this legislation, and I appreciate their efforts. Mr. Speaker, the Subcommittee on Domestic and International Monetary Policy has primary jurisdiction over the tied aid credit program of the Export-Import Bank. A subcommittee hearing and markup was held on September 7, 1995, and H.R. 2203 was favorably reported out of subcommittee by voice vote. The previous authorization expired on September 30, 1995; American exporters have been at a severe disadvantage since then. This authorization is necessary to protect American exporters and their trading in developing countries. Mr. Speaker, the tied aid program is an important tool for American companies against international exporters. The tied aid matching authority allows the Ex-Im Bank to respond to American exporters' need for competitive financing in developing markets. Tied aid, in the form of grants and loans, is defined as below-market rate confessional financing, used for purchasing capital tools manufactured in the developed country. By matching foreign countries' offers of aid, the Ex-Im Bank has forced those countries to withdraw several of their offers, and has matched 33 other offers worth almost $2 billion of potential export sales. Additionally, the Ex-Im Bank's tied aid credit has had a chilling effect on excessive use of tied aid by foreign countries. Mr. Speaker, the tied aid program levels the playing field of international trade, and permits recipient countries to compare project on the basis of price, technology, quality, delivery, and service. The manager's amendment substitutes an indefinite authorization for tied aid credits in place of the authorization contained in the introduced bill of $500 million per year. Previous spending has not exceeded $100 million per annum. This bill does not affect direct spending on receipts, and is not subject to pay-as-you-go procedures. H.R. 2203 protects American trade and businesses. I urge its immediate adoption. Mr. Speaker, I reserve the balance of my time.

Mr. CASTLE. Mr. Speaker, I yield back the balance of my time.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I have no other speakers, so the gentleman from New York [Mr. Flake] may want to call on anyone else he may have, but I would like to say before we yield back, if we are going to do that, that Mr. Ken Brody will be leaving his position as president and chairman of the Export-Import Bank, and I have enjoyed working with him. I believe him to be an excellent public servant who understands his subject matter extremely well, eliminates politics from carrying out his responsibilities, and I think has served both the administration and this country exceptionally well, and we appreciate that.

Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2203) to reauthorize the tied aid credit program of the Export-Import Bank of the United States, and to allow the Export-Import Bank to conduct a demonstration project, as amended.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I yield back the balance of my time.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, we do not have additional speakers. I know the gentleman from Louisiana [Mr. Livingston] is trying to get here. He is in a press conference, and the gentleman will submit a statement later as sponsor of the legislation. Mr. Speaker, I would like very much to thank the gentleman from New York [Mr. Flake] for his very interesting history lesson on the Smithsonian, which I think is a good lesson for schoolchildren and people who may have heard it across the country. It is one that maybe even not a lot of Members know and understand. Mr. Speaker, I also thank the gentleman from Maryland [Mr. Hoyer] for his very kind words and his work throughout this, and I thank the gentleman from New York for all the exceptional hard work that he and his staff do and the cooperation to allow us to get legislation like this done. If I thought it was that simple, I would suggest that we take over the budget. But we will leave it alone at this point.

Mr. CASTLE. Mr. Speaker, I do not disagree with the gentleman at all, but I do not think this is the time to get into the discussion of why the Smithsonian is not open today. That may happen starting in about 20 minutes or so. But perhaps this is not the time. Hopefully, by the time we pass this bill it will be open and we will be able to see that. Mr. Speaker, I reserve the balance of my time.

Mr. CASTLE. I yield to the gentleman from Illinois.

Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today I rise in support of H.R. 2627, the Smithsonian Sesquicentennial commemorative coin bill. This bill has received very broad based support in this body as represented by its more than 300 cosponsors. It is also supported by the numismatic collectors and their representatives on the Citizens Commemorative Coin Advisory Committee. Mr. Speaker, apart from the significance of the Smithsonian anniversary, the designation of 15 percent of the surcharge proceeds to benefit the numismatic collection at the Museum of American History is another reason for this support. The Smithsonian has agreed to have its coins be the first to be governed by the rules and restrictions set down in H.R. 2614, the Commemorative Coin Reform Act of 1995. As a consequence, providing the mint can prepare in time, they may also have the benefit of issuing the first platinum coinage in U.S. history. Mr. Speaker, the Commemorative Coin program is clearly in trouble, largely because too many unpopular coins are being produced. The mintage level of 800,000 silver $1 coins in the Livingston bill caused some discussion during subcommittee markup. Amendments of 400,000 and 500,000 were both offered, and the ultimate compromise amendment offered to this bill is for a mintage level of 650,000 $1 silver coins. This number was reached following representations by the CCCAC membership and the Mint reaffirming their belief that the unique marketing ability of the Smithsonian justifies a higher authorization than 400,000 or 500,000 coins. The proponents of this bill have observed the rules of the Banking Committee by obtaining more than 290 cosponsors. This bill also demonstrates that the Banking Committee rules are not simply a block to all coin legislation, and that if a group follows the rules, they have an opportunity to get a coin. Mr. Speaker, our actions today should not be taken as an invitation for more coin projects to advance; 1996 is already at least fully subscribed, no more coins can be considered for that year. In the coming years, we will continue to press for full compliance with Banking Committee rules and if necessary we will recommend that they be tightened should it appear that more coins are being proposed than the market will absorb. I urge this body to immediately adopt H.R. 2627. Mr. Speaker, I reserve the balance of my time.

Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2627), to require the Secretary of the Treasury to mint coins in commemoration of the sesquicentennial of the founding of the Smithsonian Institution, as amended.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on H.R. 2203 and 2627, the bill just considered, and that I may include extraneous materials for the Record.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I thank the gentlewoman for yielding me time, and with due respect to her and to the gentleman from the other side, I have some questions, at least, about this legislation. I do not intend to oppose it at this time, but the bottom line is that I have looked at this with some degree of care, and I have learned some interesting facts about it. For example, the Office of the Comptroller of the Currency, which, of course, is the regulatory agency for national banks, has confirmed that national banks have authority to issue the retirement CD under the expressed statutory powers of the National Bank Act, and the FDIC has ruled that the retirement CD qualifies as an insured deposit under the Federal Deposit Act. It also has been supported, and I assume still is, by the American Bankers Association, the Independent Bankers Association of America, Independent Bankers Associations of various States, and America's community bankers. In fact, the small community banks have found this as a very good asset to be able to offer to their customers, and, as a result, are very supportive of it. Mr. Speaker, I have heard the arguments here, and have heard them before, concerning the issue of deposit insurance. And while I do not know enough about that to be able to argue it vehemently with anybody, I would suggest that that is a bit of a gray area in terms of what could or could not be done. Obviously, insurance companies and others who might issue annuities of a different sort might be opposed to this, but I am concerned that we are rushing forward. I must note this piece of legislation did not go through any subcommittee or committee markup at all. I do not even know if it went through any hearings at all at that level. So, as a result, I think we need to post on the Record someplace that there perhaps is another side to this and some questions that need to be raised. So having said that, hopefully, before it is all said and done, whatever legislation comes out of this will be something which is correct and which is in the best interest of all aspects of the community dealing with it.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks and include extraneous material on H.R. 2336, the bill just passed.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks and include extraneous material on H.R. 2614, the bill just passed.

Mr. CASTLE

Mr. CASTLE. Mr. Speaker, I yield back the balance of my time.

Mr. CASTLE. Mr. Speaker, no recognition other than, again, to thank the gentleman from New York [Mr. Flake] for the work he has done. This particular piece of legislation did take some dealings with various groups and individuals in order to work out some of the differences, and we were able to do so. If the gentleman is prepared to yield back, I am as well.