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Document 84592

DWIGHT D. EISENHOWER
In confidence, the President tells his Commerce Secretary that the U.S. should "put the business of generating electrical power in private rather than public hands".
TLS: "D.E." as 34th U.S. President, 2p, 7x10½, separate sheets. The White House, Washington, 1959 April 14. The underlined words: "PERSONAL AND CONFIDENTIAL" have been typed above and below the text on each page. To Lewis L. Strauss, Secretary of Commerce. In full: "I have read a copy of Ralph Cordiner's letter to you on the subject of imports of heavy electrical machinery. I am skeptical about assertions that there is danger to our nation's security unless we cut off importations by use of higher tariffs or quotas. When we were fighting for the reenactment of the Reciprocal Trade Act, we urged that one of the best possible ways to strengthen the security of our nation and the free world was to expand trade. With these two conflicting considerations, I am sure that current technical and commercial problems must be weighed quite carefully against the long term value of sturdy allies. A statement in the Cordiner letter is to the effect that private utility companies have stuck pretty close to American products in their procurement systems. It appears that it is only the Federal government that has made any extensive purchases of foreign equipment. I assume that private utilities do not have to resort to competitive bidding on the world market; the Federal practice of doing so may be a matter of law. If such purchases by the Federal government are in fact required by existing law, it would seem to me that our best answer would be to put the business of generating electrical power in private rather than public hands. The above observations are for your information only. I particularly do not want to be expressing any opinions about these things before OCDM has made a finding. I should appreciate a short memorandum clarifying the matter for me - or, if you prefer to wait until early next week, you could come over and we could have a little chat." RALPH CORDINER, President of General Electric, was the cover story of the January 12, 1959 issue of "Time" magazine (http://paperboynews.com/inventorydetail.asp?number=m9358) entitled "Atomics at Work/A Weapon for Industrial Progress". Cordiner was elected President and Chief Executive Officer of GE in 1950 and Chairman of the Board and Chief Executive Officer in 1961. He retired from the General Electric Company in 1963. The Congressional debate on the re-enactment of the Reciprocal Trade Act took place in 1953-1955. In the original Reciprocal Trade Agreements Act of 1934, Congress authorized the President to enter into agreements with other nations for reductions of tariffs and other impediments to international trade and to put the reductions into effect through proclamation. The OCDM was the Office of Civil and Defense Mobilization. Pencil notes in unknown hand on first page: one references the date of Cordiner's letter as 3-13-59. The other two are file notes at top left corner, where there are staple holes and a paper clip impression. Overall, fine condition.

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