Statement by the President on Senate Restoration of Mutual Security Funds.

I AM GREATLY pleased by the Senate restoration of a half billion dollars of Mutual Security funds. I consider it to be a substantial step in the right direction. The Senate leaders of both parties and other Senators who supported this restoration have well earned the commendation of the American people.

It is my earnest hope that the House of Representatives will quickly approve the Senate action. I am sure that the House leadership and Members, like the Senate, recognize that failure to support the Senate action would further aggravate the serious effects of severe cuts already made in this program that is so essential to our nation's defense and the security of the free world.