Letter to Stuart Symington on His Appointment as Administrator of the Reconstruction Finance Corporation

Dear Stuart:

The Senate action last week assures that the provisions of Reorganization Plan No. 1 of 1951 regarding the Reconstruction Finance Corporation will become effective April thirtieth. I am writing at this time to ask you to accept the position of Administrator in order that I may promptly submit your name to the Senate.

I hope you will accept, because your broad experience in private business and government is needed to provide the effective and efficient administration necessary to handle the important responsibilities of the RFC.

Because of the current importance of mobilization activities affecting the procurement and production of critical and strategic materials, special attention must be given this field.

Your experience with the Surplus Property Administration, the Air Force, and the National Security Resources Board with respect to government procurement and disposal .programs gives you special qualification for this phase of the work.

Today, the RFC both purchases and smelts all the tin in this country, and operates all synthetic rubber activities. It is my desire that insofar as possible rubber purchases and operations also be consolidated under the RFC.

Finally, I want to continue the policy of making the RFC program an effective part of our efforts to assist the growth and development of small business in this country.

What I have outlined above is challenging, and presents an opportunity to you for rendering further public service.

Sincerely yours,

HARRY S. TRUMAN

[Honorable Stuart Symington, Chairman, National Security Resources Board, Washington, D.C.]