Statement by the President Upon Signing the Submerged Lands Act.

I AM PLEASED to sign this measure into law recognizing the ancient rights of the States in the submerged lands within their historic boundaries. As I have said many times I deplore and I will always resist federal encroachment upon rights and affairs of the States. Recognizing the States' claim to these lands is in keeping with basic principles of honesty and fair play.

This measure also recognizes the interests of the Federal Government in the submerged lands outside of the historic boundaries of the States. Such lands should be administered by the Federal Government and income therefrom should go into the Federal Treasury.