62 
ploitation of the deep seabed beyond the limits of exclusive national jurisdiction. 
We share with the President the desire that such ocean resources be used ra- 
tionally and equitably for the benefit of mankind. Rational and equitable use of 
deep seabed resources requires the establishment of conditions in any future sea- 
bed treaty which will encourage investment and insure protected access to those 
interested in, and capable of, responsibly undertaking mineral recovery 
operations.” 
970. ere reviewing ae draft, ae Su committee on are Conti- 
nental Shelf expressed serious doubts about many of its provisions. 
Testimony at subsequent hearings highlighted many of these concerns. 
Mr. Northeutt Ely, representing the American Bar Association, 
stated : 
It is manifest that in this proposed treaty we are characterizing as the “com- 
mon heritage of mankind” resources that, under existing international law, are a 
major component of the American mineral estate, in which the United States has 
exclusive sovereign rights exercised by Congress * * *. The advantages to the 
United States visible within the four corners of this treaty are minimal.* 
Mr. John Laylin, representing the Committee on Oceanography 
of the Section on Inter Daional and Comparative Law of the American 
Bar 2 SSeu an, agreed with the propose o CO | 
be prohibitively expensive. Mr. pee sugges ed t 
‘ni Bitited tas ENoun Heal ee own nationals and recognize the 
licenses of other countries during the interim period prior to the 
formation of an international authority, and that a future seabed 
treaty should preserve the integrity of mvestments made during the 
interim period. 
Mr. T. S.Ary, Vice eset of ion Car bide Exploration Corp., 
representing the Ameri fining Congress 
gestions for technical ii roveniente i in aM U.S. draft working paper. 
Among ne POUL Mr. Ary wise was inate tere were 
national authority. Mr. Mig aes ee ae ae resin proved 
in the Pee paper was too elaborate and did not provide a secure 
climate for investments made during the interim period. With regard 
to the interim period, Mr. Ary testified that U.S. industry was close 
to being capable of exploiting the sizable quantities of hard minerals 
on the seabeds beyond the continental margins, and that domestic 
legislation was needed. He indicated that such legislation, if adopted 
in substantially similar form by other nations, could, through the 
principle of international reciprocity, become the basis for common 
rules among nations regarding freedom of cerelopment Eng Ee 
The ecnenres also focused: on the Moratorium Resolution of the 
U.N. General Assembly. In response to a letter from Senator Lee Met- 
10 [bid., p. 31. 
11 Tbid., p. 25. 
