Statement by the President on the House Appropriations Committee Cut in Mutual Security funds.

I AM DEEPLY DISTRESSED at the action of the House Appropriations Committee on the Mutual Security Appropriations Bill.

Just as it takes ammunition to fight and win a war, it takes mutual resources and sacrifices to win the peace. Mutual Security dollars, particularly dollars for economic assistance, are the ammunition required to fight for and win the peace. If this ammunition is denied, as it would be by the action of the Appropriations Committee, I fear there will be important losses for the free world and a serious decreasing of the security of the United States.

The recommendation of the House Appropriations Committee calls for a cut in Mutual Security Program funds of $864 million brow the amount which I requested and of nearly $600 million below the amounts in the authorization legislation approved by the conference committee and by the House this afternoon.

It is my hope and belief that this action of the House Appropriations Committee will not be the final action of the House of Representatives or of the Congress.