Statement by the President Upon Signing the Government Corporation Control Act.

I FOUND much satisfaction in signing today the Government Corporation Control Act, for I have long believed in the principle it embodies. In requiring these corporations to submit their budgetary programs to the Bureau of the Budget and their expenditures to an audit by General Accounting Office, the Congress has made a forward step in furthering the business-like management of Government. This Act increases the orderly control by the Executive and the Congress of the Government corporations without impairing their usefulness. Because of the time element, it will not be possible to include budget programs for the corporations in the budget I shall submit to the Congress in January. I shall, however, submit by next Spring these corporation budgets for the fiscal year beginning July 1, 1946.