Statement by the President Upon Signing Bills Providing for the Disposal of Excess Stockpiled Commodities.

THE 10 stockpile disposal bills I have signed into law today will once again enable us to reap the benefits of past prudence and apply them to our present needs.

I applaud the prompt and wise action of the Congress.

And I commend the truly American effort that helped make this legislation a reality-the close partnership of the executive branch, industry, and the Congress.

These 10 bills authorize the disposal from our stockpiles of vanadium, chromite, fluorspar, bismuth, thorium, asbestos, rhodium, ruthenium, and mica.

All of these commodities are needed to help turn the wheels of commerce, but among them, vanadium ranks as the most important. This metal is in critically short supply. It is vitally needed for the manufacture of high-strength steels used for construction and for tools, and as a special alloy in our aircraft and missile programs.

I have asked the Administrator of the General Services Administration to begin moving immediately into the hands of industry the vanadium and other materials covered by the legislation.

As I have said before, our stocks of excess metals will win no battles while they lie idle in storage bins. Instead, they are needed--and needed now:

--To give our fighting men in Vietnam the arms and equipment they must have to do the job.

--To maintain orderly markets essential to the continued prosperity of our great American industries and the continued high employment of American workers.

--To help improve our balance of payments position.

--To reduce the costs of maintaining unnecessary inventories of strategic materials.

In short, by moving excess commodities from stockpile to smelter and factory, we benefit the taxpayer and the economy as a whole.

The 10 measures I have signed today bring to 13 the number of stockpile bills approved by Congress at this session.

Twelve remaining bills are now before the House Armed Services Committee and are awaiting action. I urge swift passage of these remaining bills to enable us to safeguard the national interest, sustain a healthy economy, and support our troops in Vietnam.

Congress has the opportunity to write a strong record on stockpile legislation. Under the leadership of our distinguished Senators Russell and Symington and Representatives Rivers and Philbin, I am confident that Congress will achieve this goal.