Commems Collection Modern: 1983-84 Los Angeles Olympics - The House Hearing - Part B

When the Hearing of the Subcommittee on Consumer Affairs and Coinage (under the House Committee on Banking, Finance, and Urban Affairs), regarding the Los Angeles Olympic coin proposals resumed, Subcommittee Chairman Frank Annunzio (D-IL) made a surprising announcement.

He indicated that he had worked with Fernand St Germain (D-RI) on a compromise coin bill that he would be introducing shortly. The bill was to include a 1983 Silver Dollar, a 1984 Silver Dollar and a 1984 Gold $10 coin (i.e., an Eagle), with Proof and Uncirculated versions of each to be made available. (I've discussed the introuced legislation here: 1983-84 Los Angeles Olympics - 1982 House Alternatives.)

Setting a reconciliatory tone, Annunzio stated:

"As I have said from the beginning, I am dedicated to an Olympic coin program, but I want a program that will bring credit to the U.S. Mint, the U.S. Congress, and above all, a program that will turn the bulk of the profits over to our athletes. I have consistently worked toward those purposes.

"To that end, yesterday I met with Chairman St Germain of the full committee to discuss a compromise bill which I felt had great merit and one that could gain wide support. Basically the legislation was a blend of my bill and Mr. St Germain's bill."

It was an encouraging start to Day 2 of the Hearing, but there was much testimony to be heard and "compromise" was not the dominant theme!

For example, Representative St Germain made it clear that he still had some fight left in him:

"I want to assure the subcommittee chairman that I will work with him in moving legislation from the subcommittee so that the full committee can, work its will. I am more than willing to give him an opportunity to carry any one of his bills before the full committee.

"I will give the subcommittee chairman every opportunity to have consideration at the full committee. I will, of course, offer my legislation as a countermeasure. We can, in the best spirit of the legislative process, allow open consideration and a vote. I am quite willing to allow my bill to stand the test of a vote in as open a manner as possible."

Before the first witness was called, Annunzio entered the results of a Public Opinion Poll into the record (the poll was administered by Coin World.):

The Poll

Are you in favor of U.S. coinage to commemorate the 1964 Los Angeles Olympic games?
Yes: 97%, No: 2%, No Opinion 1%

Do you believe sale of Olympic coins is a good way to raise money to help finance the Los Angeles games and the training of U.S. athletes?
Yes: 91%, No: 5%, No Opinion 3%, No Answer: 1%

Congress has simmered seven Olympic coin bills down to two. One calls for a series of 17 coins, one copper-nickel, 12 silver and four gold coins with face values of $1. $10. $50. and $100. What is your opinion of this plan?
Yes: 2%, No: 97%, No Opinion --%, No Answer: 1%

The other proposal is for a single, traditional 90 percent silver Olympic dollar. Will you comment on this plan?
Yes: 83%, No: 8%, No Opinion 5%, No Answer: 3%

Do you think a private marketer should sell the new U.S. Olympic coins?
Yes: 5%, No: 92%, No Opinion 3%, No Answer: --%

One plan calls for the Olympic coins to be sold directly to the public by the Secretary of the Treasury. What is your opinion?
Yes: 92%, No: 3%, No Opinion 1%, No Answer: 3%

Are you interested in the secondary market or investment potential of Olympic coins?
Yes: 31%, No: 58%, No Opinion 6%, No Answer: 5%

The American Numismatic Association has endorsed one Olympic gold coin and one Olympic silver coin, each in Proof and Uncirculated. What do you think of this
plan?
Yes: 78%, No: 15%, No Opinion 3%, No Answer: 3%

Should the number of coins be reduced, which are of most interest to you?
Copper-Nickel: 24%, Silver: 96%, Gold: 36%

The poll tallied 143 responses.

The poll results, though from a limited sample, supported Annunzio's approach.

The first witness panel of the day consisted of former US Olympic athletes. As it had in the Senate Hearing, the panel included Robert Mathias, Donna DeVarona, and Wilma Rudolph. New to testify were John Naber (Swimmer, 4-time Gold Medal winner, Montreal 1976) and Bob Richards (Track/Pole Vault, 2-time Gold medal winner, competitor: London 1948, Helsinki 1952 and Melbourne 1956).

In their testimony, each of the athletes reviewed the work and successes of the US Olympic programs, the support initiatives for amateur athletics, the social benefits of athletic training and competition, past private funding efforts and the need for additional funding to accomplish current needs and objectives. To no surprise, they - along with the United States Olympic Committee ("USOC") - supported an Olympic coin program, favoring the large program proposed by St Germain.

The Subcommittee engaged in an extended Q&A with the athletes

Members of the Los Angeles Olympic Organizing Committee ("LAOOC") were the next to testify; its president, Peter Ueberroth, kicked things off. The overall tone of his testimony was less 'firendly' than during the Senate Hearing, and a bit more combative - he appeared to be blaming Annunzio and the Subcommittee for all of the coin program's delays and for the failure to see its value.

He concluded his remarks with:

"We make no delays. We make no demands. The Senate told us that they unanimously passed this project. The administration today has told us that they will not have any kind of appropriation and that they support the St Germain program. The Treasury tells us that they support it. Work together, gentlemen. Let's make it happen. Let's be fair to the athletes that ask for nothing and to the
organizing committee that asks for nothing."

And with that, Harry L. Usher, Executive Vice President, LAOOC, took center stage. He presented a summary of the history of the LAOOC's coin bill, including its delays, but used a softer tone vs. that of Ueberroth. He ended his remarks by stating to the Subcommittee:

"We appreciate your consideration. We appreciate your holding these hearings and permitting us the opportunity to testify. But must emphasize that each day that goes by, to quote Congressman St Germain, "funding delayed is funding denied."

Former USOC President, Robert J. Kane was up next. Kane shared his unique 'distinction' at the Hearing:

"I was the President of the U.S. Olympic Committee in 1980 when in conformance with the President of the United States and the Congress of the United States we did not go to Moscow. I have the distinction of presiding over the only Olympic Committee that did not take part in the games, if that is a distinction."

(Tuck that one away and have it at the ready if you should ever find yourself in the midst of a "Trivia Night.")

Another interesting fact about the USOC:

"This may surprise you, as it does most people, but of the 27 Olympic sports only half of them are on the high school and college programs. So there has to be a guardian angel for those deprived of sports, and that guardian angel is the US Olympic Committee, because by order of Congress it was made the coordinating body for amateur sports in this country and has the dual responsibility of being the National Olympic Committee of the United States."

Kane concluded his remarks by reiterating the message of those who had presented before him:

"We are not asking for money; we are asking for a mechanism to raise the money through voluntary means."

F. Don Miller, the Executive director of the US Olympic Committee, brought "Olympics Day" at the Subcommittee Hearing to a close. His testimony sounded the warning bell - fast action was needed to save the 1984 Los Angeles Olympics:

"I feel I must reiterate the fact that in two situations we find ourselves in a very unique situation. One, as Mr. Ueberroth has indicated, is the unique partnership agreement we have to host the 1984 Olympic games within the private sector. Second, the uniqueness of our U.S. Olympic Committee in that, as Mr. Kane indicated, we are the only Nation of 149 nations competing in the Olympic movement who do not receive continuing subsidy from our Federal Government, and at the same time let me hasten to mention we do not seek a Federal subsidy.

"We are seeking the opportunity to provide every American with his right to contribute to this magnificent effort through the coin program. Furthermore, Mr. Chairman, the time element is critical. The U.S. Olympic Committee has embarked upon its largest budget in history, some $77 million for this 4-year period."

"At the present time we find ourselves in cash flow problems. As we sit here before you today, our cash flow deficit is $2 million. We have had to borrow $1 million at over 16 percent interest to sustain our ongoing current programs. Accordingly, the time element in passing a coin bill is imperative to the best interest of amateur sports and our amateur athletes in this country.

"...we support Congressman St Germain's legislation...and we urge an immediate markup and passage of that legislation."

When the live testimony completed, an extensive Q&A session began, with supporters of each coin program approach arguing on behalf of and lining up behind their choice. I found it interesting that Annunzio felt as if he was 'attacked' during the day's testimony, including for his perceived delays in having the House consider the original Cranston Senate bill, and felt the need to respond. He let it be known that he was trying to act in the best interests of all:

"There are certain standards that you must have when you pass legislation as far as the public is concerned. The Senate legislation did not meet that criteria or those standards that we set up for contractors in the United States, such as bidding and auditing; none of the standards were in the legislation until I insisted upon it"

It was certainly a contentious day at the Hearings - but it would not be the last!


See "TBD" - 1983-84 Los Angeles Olympics - The House Hearing - Part B to continue the story of the Olympic Coin Act for the 1984 Los Angeles Olympics.


For other of my posts about commemorative coins and medals, including more modern commemorative coin stories, see: Commems Collection