Page:United States Statutes at Large Volume 79.djvu/45

 79 STAT.]

PUBLIC LAW 89-4-MAR. 9, 1965

Public Law 89-3 AN ACT To eliminate the requirement that Federal Reserve banks maintain certain reserves in gold certiflcates against deposit liabilities. Be (t enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first sentence of the third paragraph of section 16 of the Federal Reserve Act, as amended (12 U.S.C. 413), is further amended by striking out "reserves in gold certificates of not less than 25 per centum against its deposits and". SEC. 2. The eighteenth paragraph of section 16 of the Federal Reserve Act, as amended (12 U.S.C. 467), is further amended by substituting a period for the comma after the word "notes" and striking out the remainder of the paragraph. Approved March 3, 1965.

March 3, 1965 [H. R. 3818]

Federal Reserve banks. Gold certificates. 59 Stat. 237.

48 Stat. 340.

Public Law 89-4 AN ACT To provide public works and economic development programs and the planning and coordination needed to assist in development of the Appalachian region. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Appalachian Regional Development Act of 1965". r i N D I N G S A N D STATEMENT OF PURPOSE

SEC. 2. The Congress hereby finds and declares that the Appalachian region of the United States, while abundant in natural resources and rich in potential, lags behind the rest of the Nation in its economic growth and that its people have not shared properly in the Nation's prosperity. The region's uneven past development, with its historical reliance on a few basic industries and a marginal agriculture, has failed to provide the economic base that is a vital prerequisite for vigorous, self-sustaining growth. The State and local governments and the people of the region understand their problems and have been working and will continue to work purposefully toward their solution. The Congress recognizes the comprehensive report of the President's Appalachian Regional Commission documenting these findings and concludes that regionwide development is feasible, desirable, and urgently needed. I t is, therefore, the purpose of this Act to assist the region in meeting its special problems, to promote its economic development, and to establish a framework for joint Federal and State efforts toward providing the basic facilities essential to its growth and attacking its common problems and meeting its common needs on a coordinated and concerted regional basis. The public investments made in the region under this Act shall be concentrated in areas where

March 9, 1965 [S. 3]

velopment Act of 1965.

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