45 



This treaty may be the Magna Carta prototype of how we are 

 going to benefit smaller nations when we reach out for commercial 

 concerns to outer space. 



I thank the gentleman for yielding. 



Mr. Leach. I thank the gentleman. 



I am reminded of a famous English cartoon by a man who is my 

 namesake, John Leech, showing King John signing the Magna 

 Carta with all the princes and dukes around pressuring him into it. 



I have the feeling we may have that situation in our own Gov- 

 ernment today. 



Mr. Secretary, it has been noted that every Chairman of the 

 Joint Chiefs has supported the Law of the Sea. It has also been 

 noted that some of the mining companies have serious reservations 

 about it. If the law were even more restrictive on the mining 

 companies — to the point of being prohibitory, would you assess our 

 security interests as so much more important than mining inter- 

 ests that we should go forth in any regard? 



Mr. Richardson. I have never had to think through, Congress- 

 man Leach, the question of whether or not the United States 

 should ratify a treaty less satisfactory than the present text for 

 seabed mining or even ratify the present text. 



First, because I have felt from the outset that we could still 

 improve it, and I think it is fair to say that the present circum- 

 stances marginally enhance the opportunities for improvement. 



Second, because it has been my view ever since I began to focus 

 on the role of the Preparatory Commission that will come into 

 being after the treaty is signed, that we should wait until we see 

 the work of the Preparatory Commission before making up our 

 minds. 



This is so because the Preparatory Commission will have the 

 function of drafting rules and regulations. It is a function essential- 

 ly like that of the Internal Revenue Service writing rules after 

 enactment of a new tax code. 



Some of the concerns of the mining companies with respect to 

 the treaty are concerns that arise out of possible interpretations of 

 the text. 



The rules and regulations will be more detailed. There is one 

 very concrete example. I have said here the United States is as- 

 sured access because the text spells out the qualifications of appli- 

 cants in clear objective terms and because these qualifications have 

 to do only with the financial competence and technological capa- 

 bilities of the applicant. 



The rules and regulations will have to go into greater detail as to 

 what exactly is being taken into account in order to enhance the 

 assurance that there is not the opportunity for the politicization of 

 the process. 



So I think that the United States should not decide whether or 

 not to submit the treaty for ratification until after the Preparatory 

 Commission has completed its work. 



This allows me to highlight what I consider to be among the 

 most significant gains of the negotiations conducted last August. 

 Quite clearly, if we intend to place significant reliance on the 

 detailed provisions of the rules and regulations, we need to assure 



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