Mr. Chairman. the U.S. Security Council is doing the setting of priorities not on the basis of the needs of the refugees that the war has created. but based on something called "strategic security." While this may be boilerplate language. its real meaning becomes clear when you realize that under section 104 (c) South Vietnam has accumulated $1.2 billion for use in the "common defense including internal security." Although there was a congressional attempt to limit the use of local currencies for military purposes. through the adoption of section 40 of the Foreign Assistance Act of 1973. its purpose may. and I feel will be. abrogated by fancy bookkeeping. This will happen because under section 104(c) there is a 10year grace period before principal must be paid and because the law provides 40 years in which to repay the "loan" at 3 percent interest. Although technically this money may not be used for military purposes. it is clear that it will "free up" other money that can be so used.
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refugees