Speech #920051700

But I cannot help but think this action is taking money out -of. our rural communitiesout of our rural banks. I wonder if this action to stem Treasury flows in the short run will not wind up costing us far more in the long run. To the extent that rural development creates additional jobs outside the congested cities it slows the migration to them and reduces their problems of assimilating additional migrants from rural areas. It is significant in this -connection to note that the nonfarm population outside standard metropolitan statistical areas. as defined by the Census. increased 20 percent between 1960 and 1970. Had all these people migrated to the large cities. their current problems would be even greater.