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1252916
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6/14/76 - Televised Statement Announcing New Initiatives to Address Questionable Payments Abroad
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1252916
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document
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6/14/76 - Televised Statement Announcing New Initiatives to Address Questionable Payments Abroad
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President's Speeches and Statements Reading Copies (Ford Administration)
Reading Copies of Presidential Speeches and Statements
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Corrupt practices
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1252916
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14
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1976-06-14
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6
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1976
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14
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1976-06-14
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6
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1976
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The original documents are located in Box 34, "6/14/76 - Televised Statement Announcing
New Initiatives to Address Questionable Payments Abroad" of the President's Speeches
and Statements: Reading Copies at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box 34 of President's Speeches and Statements: Reading Copies at the Gerald R. Ford Presidential Library
THE PRESIDENT HAS SEEN
T.V. STATEMENT ON QUESTIONABLE CORPORATE
PAYMENTS INITIATIVES
MONDAY, JUNE 14, 1976
-1-
TEN WEEKS AGO I APPOINTED A TASK FORCE HEADED BY
SECRETARY RICHARDSON TO REVIEW OUR POLICIES TOWARD
CORPORATIONS THAT ENGAGE IN QUESTIONABLE PAYMENTS IN
OTHER NATIONS
-2-
TODAY
BASED UPON THE FINDINGS OF THAT TASK FORCE,
I AM ANNOUNC ING THREE NEW INITIATIVES:
-3-
-- FIRST,
AS A DETERRENT TO BRIBERY BY
AMERICAN-CONTROLLED COMPANIES, I AM DIRECTING THE TASK FORCE
TO PREPARE LEGISLATION THAT WOULD REQUIRE CORPORATE DISCLOSURE
OF ALL PAYMENTS MADE WITH THE INTENTION OF INFLUENCING
FOREIGN GOVERNMENT OFFICIALS.
-4-
FAILURE TO COMPLY WITH THE NEW DISCLOSURE LAWS WOULD LEAD
TO CIVIL AND CRIMINAL PENALTIES
-5-
-- SECOND,
I
AM ANNOUNCING MY SUPPORT OF
PENDING LEGISLATION TO STRENGTHEN THE LAW REQUIRING
CORPORATIONS TO KEEP THEIR SHAREHOLDERS FULLY AND HONESTLY
INFORMED ABOUT THEIR FOREIGN BEHAVIOR
-6-
-- FINALLY,
I AM ASKING OUR MAJOR TRADING
PARTNERS TO WORK WITH US IN REACHING AGREEMENT ON A NEW CODE
TO GOVERN INTERNATIONAL CORPORATE ACTIVITIES.
-7-
LET ME EMPHASIZE MY CONVICTION THAT THE VAST
MAJORITY OF AMERICAN-BASED CORPORATIONS ARE HONEST,
UPSTAND ING CITIZENS IN THE INTERNATIONAL COMMUNITY
NONETHELESS, WE MUST RECOGNIZE THAT UNETHICAL BEHAVIOR BY
ONLY A FEW COMPANIES CAN SPOIL THE ENVIRONMENT FOR EVERYONE.
-8-
OUR SYSTEM OF PRIVATE ENTERPRISE
A SYSTEM THAT HAS
PROVIDED A HIGHER STANDARD OF LIVING AND GREATER ECONOMIC
SECURITY THAN ANY SYSTEM KNOWN TO MAN
IS UNDER CONSTANT
ATTACK TODAY BECAUSE MANY CITIZENS NO LONGER TRUST BIG
BUSINESS
-9-
IN ORDER TO RENEW AND RESTORE PUBLIC FAITH IN FREE
ENTERPRISE, WE MUSI PROVIDE THE PUBLIC WITH CONCRETE
ASSURANCE THAT MAJOR CORPORATIONS ARE CLEAN AND HONEST
THE INITIATIVES I AM ANNOUNCING TODAY CAN BE A BIG STEP IN THAT
DIRECTION
THANK YOU
END OF TEXT