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Story
March 7, 1957
The Glacier Reporter
Browning, Glacier County, Montana
What is this article about?
The U.S. Department of the Interior broadens federal loan regulations for Indian tribes, allowing funds to attract industry near reservations. Indian Commissioner Glenn L. Emmons cites the Navajo Tribe's $300,000 investment as an example, enabling other tribes to offer similar inducements like facilities and training.
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Loan Regulations Broadened To Assist Indian Tribes In Attracting Industry
The Federal regulations governing the United States credit program for Indian tribes are being broadened to permit loans of funds which the tribes can use for the purpose of attracting industry to the vicinity of reservations, the Department of the Interior announced today. In explaining the significance of the changes, Indian Commissioner Glenn L. Emmons pointed to the example of the Navajo Tribe in Arizona, New Mexico, and Utah which has appropriated $300,000 of its own funds both this year and last year for an industry-fostering program. The new types of loans, he added, will make it possible for other tribes with little or no cash reserves to offer similar inducements. Such inducements might include assisting in furnishing facilities, in training programs, and in the recruitment of qualified workers.
Loans will be made only to tribes having a form of organization acceptable to the Secretary and "at interest rates and under terms and conditions found by the Secretary to be in the public interest." Encouragement of industry to establish plants near Indian reservations is an important phase of Commissioner Emmons' program to advance the economic and social welfare of Indian people. The work is headed by Carl W. Beck, Assistant to Commissioner Emmons.
The Federal regulations governing the United States credit program for Indian tribes are being broadened to permit loans of funds which the tribes can use for the purpose of attracting industry to the vicinity of reservations, the Department of the Interior announced today. In explaining the significance of the changes, Indian Commissioner Glenn L. Emmons pointed to the example of the Navajo Tribe in Arizona, New Mexico, and Utah which has appropriated $300,000 of its own funds both this year and last year for an industry-fostering program. The new types of loans, he added, will make it possible for other tribes with little or no cash reserves to offer similar inducements. Such inducements might include assisting in furnishing facilities, in training programs, and in the recruitment of qualified workers.
Loans will be made only to tribes having a form of organization acceptable to the Secretary and "at interest rates and under terms and conditions found by the Secretary to be in the public interest." Encouragement of industry to establish plants near Indian reservations is an important phase of Commissioner Emmons' program to advance the economic and social welfare of Indian people. The work is headed by Carl W. Beck, Assistant to Commissioner Emmons.
What sub-type of article is it?
Historical Event
What keywords are associated?
Loan Regulations
Indian Tribes
Attracting Industry
Navajo Tribe
Economic Welfare
What entities or persons were involved?
Glenn L. Emmons
Carl W. Beck
Navajo Tribe
Where did it happen?
Indian Reservations, Arizona, New Mexico, Utah
Story Details
Key Persons
Glenn L. Emmons
Carl W. Beck
Navajo Tribe
Location
Indian Reservations, Arizona, New Mexico, Utah
Event Date
Today
Story Details
Federal loan regulations expanded to allow Indian tribes to use funds for attracting industry near reservations, exemplified by Navajo Tribe's investments; aims to advance economic and social welfare under Commissioner Emmons' program.