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Mr. D'AMATO.
Mr. President, I rise today along with Senators Moseley-Braun, Shelby, Faircloth, Bennett, Hagel, Sarbanes, Dodd, Kerry, Bryan, Boxer, Reed and DeWine to introduce the U.S. Holocaust Assets Commission Act of 1998. This legislation will create the `Presidential Advisory Commission on Holocaust Assets in the United States,' that will examine the disposition of assets of Holocaust victims, survivors, and heirs here in the United States.
For two years now, I have worked closely with Ambassador Stuart Eizenstat who has labored tirelessly to close this difficult chapter of history in an honorable, speedy, and satisfactory manner. He cares passionately that the survivors receive justice and I could not agree more. I am pleased to say that the Administration fully supports this legislation and we have worked with them closely over the past four months to craft the language to bring this commission to reality.
While we have sought answers from Switzerland and other nations on the disposition of dormant bank accounts and Nazi gold, we have not pursued the issue here in the United States. Today, we begin this search. Now we are obliged to set history straight and correct any injustices in our own country. The United States has a moral responsibility to address the same issues to which we have sought answers from Switzerland and other nations in Europe. The spirit of American decency demands no less.
If we are to provide long overdue justice to Holocaust survivors and the heirs of the victims, we must do so as expeditiously as possible. Time is of the essence if we are going to provide the necessary restitution to this already aged and rapidly dwindling survivor community. Moreover, by creating this commission we establish even greater moral authority and diplomatic credibility with other nations from which we seek answers on these important questions. Thus far, twelve nations have already set up national commissions to look into these issues.
With this legislation we will create a commisison that will seek to find the disposition of the following assets in this country: dormant bank accounts of Holocaust victims in U.S. banks; brokerage accounts, securities, & bonds; artwork & religious/cultural artifacts; German-looted gold shipped to the U.S. through the Tripartite Gold Commission; and insurance policies.
As far as funding is concerned, the Commission will be funded for $3.5 million, with the costs split by the interested agencies of the U.S. Government. The Commission will operate through December 31, 1999, the date its final report is due to the President.
The Commission will comprise members appointed by both the Congress and the President, as well as private citizens who have demonstrated their leadership on issues relating to the financial community, public service, and the history of the Holocaust.
Mr. President, we need this Commission. We must leave no stone unturned. If we are to fully examine the disposition of the assets of the victims of the Holocaust, we cannot ignore what happened in this country. While it is not within our power to change what happened during WWII, it is within our power to correct a historic wrong by providing answers to questions that have remained unanswered for over fifty years. If we do at least this much now, then we will provide a measure of comfort and justice for the survivors of the greatest evil mankind has ever known. I encourage my colleagues to join me in this legislation and I urge its speedy passage.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.
There being no objection, the bill was ordered to be printed in the Record, as follows:
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