“ ae it a ss es The Council expressed the hope that the proposed significant increase in the Economic Development Loan Fund will be realized. It recommended that the Administering Authority continue its efforts to insure the economic viability of the Territory. Public Finance. The Council noted with satisfaction the continuing increase in the funds being made available by the Administering Authority and expressed the hope that they can be authorized for a period of several years thus permitting maximum flexibility in the economic development plans for the Territory. The Council welcomed the decision to appoint a revenue officer to review the existing system of tax collection and increase its efficiency. The Council reiterated its recommendation that the Congress of Micronesia consider adoption of a suitable system of direct taxation applicable to all residents of the Territory. The Council also recommended that to increase the funds available for appropriation by the Congress of Micronesia, the administrative costs of the Congress be defrayed by funds appropriated by the Congress of the United States. Agriculture and Livestock. The Trusteeship Council reaffirmed its view that agriculture should be accorded a high priority in the development programs. The Council therefore welcomed efforts of the Administering Authority to diversify agricultural production, with emphasis on products which can be exported. The ous ana tions concerning the potential i portance of the fishing industry in thie Territory, was pleased to note thy following developments in this field{& (a) measures taken by the Administe.J& ing Authority to expand and improv the fishing industry and to increagi Micronesian interest and participation in it. (b) the survey being carried oy in Truk as a result of indications 9 commercial interest in fishing ang canning operations there, and (jim introduction of legislation in the US® Congress for a lowering of U.S. impon tariffs on Micronesian canned fish. The Trusteeship Council expresse4 hope that plans for establishmentof, marine biological research station ai Palau will be implemented. “| Industry. The Trusteeship Cound welcomed measures taken in coop eration with Air Micronesia to expand the tourist industry in the Territory and in particular the decision to buill a chain of hotels and train Micronesia personnel to staff them. Transport and 2 Communication The Trusteeship Council welcomed tk significant progress achieved in a transportation in the Territory and th important participation of local is terests in Air Micronesia. The Coune also noted that despite improvement in sea communications, the situations™ still difficult in certain areas and therefore, urged the Administering Authority to take the necessary step to bring shipping services to a levd which will meet the needs of tm Council, however, noted the decrease Territory’s growing economy. Tb Fisheries, The Trusteeship Council. reaffirming its earlier recommenda- The Trusteeship Council welco \ the passing of a Social Security Act fa Council also urged the Administerig it in the export of copra reflected in Authority to continue efforts @ Statistics contained in the Administer.improve the road network in the Tem ing Authority’s report and urged the tory. ie: Administering Authority to take all A possible steps to remedy the situation. Social Advancement 136 Part X--U.N. Resolutions and Recommendat oF