However. many of the escapees and expellees cannot obtain jobs. because in Germany there is a law that before a than can obtain a job. he must first to arrange to have in that area a room or a house in which to live. Mr. President. my amendment proposes to have the German Government. through its Lasten Ausgleichs Bank. its bank for equalization of burdens. issue $250 million in bonds. at an interest rate of from 3 percent to 4 percent. redeemable at 5year intervals. up to a maximum of 30 years. with the principal and interest to be repaid in dollars when due. and with the proceeds of the bonds to be used solely for the purpose of granting first mortgages. at interest rates not exceeding 5 percent. and annual amortization charges not to exceed 112 percent of the principal. to assist refugees. escapees. and those who lost their homes as a result of bombing. to obtain individual ownership of homes housing either one or two families. Mr. President. such a loan would be very secure. for I am confident that every penny of it would be repaid. with interest. Furthermore. certainly one of the most worthwhile things we can do is to take steps to enable the construction of housing for such a purpose. If this amendment is adopted. these refugees and escapees will be able to borrow on a first mortgage from the Lasten Ausgleichs Bank up to 90 percent of their requirements for building a new home. and will be able to borrow the money at an interest rate and an amortization rate they can afford to repay. Furthermore. Mr.
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refugees