The press release says the Rev. M. William Howard, Jr., president of the National Council of Churches, testified on October 22 before a joint session of the Subcommittee on International Economic Policy and Trade and the Subcommittee on Africa of the House Committee on Foreign Affairs to call for increased economic pressures against the South African government. Speaking in favor of HR 3008 and HR 3597, Howard said increased restrictions on U. S. bank loans to the South African government and on other investments in South Africa are needed to counteract the recent "tilt" of U.S. policy "to support the apartheid status quo in South Africa." HR 3008, introduced by Rep. Stephen Solarz (D-N.Y.),...
The press release says the Rev. M. William Howard, Jr., president of the National Council of Churches, testified on October 22 before a joint session of the Subcommittee on International Economic Policy and Trade and the Subcommittee on Africa of the House Committee on Foreign Affairs to call for increased economic pressures against the South African government. Speaking in favor of HR 3008 and HR 3597, Howard said increased restrictions on U. S. bank loans to the South African government and on other investments in South Africa are needed to counteract the recent "tilt" of U.S. policy "to support the apartheid status quo in South Africa." HR 3008, introduced by Rep. Stephen Solarz (D-N.Y.), would ban new loans by U. S. financial institutions to the South African government, require U.S. corporations operating business enterprises in South Africa to comply with fair employment practices (essentially the Sullivan Principles), and would prohibit importing South African Krugerrands into the United States. HR 3597, introduced by Rep. William Gray (D-Pa.), would amend the 1977 "Act with Respect to the Powers of the President in Time of War or National Emergency" (commonly called the War Powers Act) to prohibit any U.S. person from making any investment in South Africa. The press release discusses the white supremacist government, disenfranchisement of the black citizens, a nationwide campaign to stop bank lending to South Africa, the State Department, Chemical Bank, Irving Trust, Bankers Trust, Mellon Bank, Pittsburgh National Bank, First National Bank of Boston, Citibank, restrictions on new investment and future bank loans, Jane C. Leiper, the Reagan administration, Cape Town squatters protesting the 'bantu reservation system,' a crackdown on black labor unions, and arrests of union leaders.
