A resolution designating February 11, 2003, as "National Inventors' Day".

Mr. President, I am pleased to submit, along with my colleagues Senators Cochran, Corzine, Johnson, Sarbanes, Schumer, and Stabenow, a resolution designating April of this year as Financial Literacy for Youth Month. This resolution seeks to honor the many activities that take place across the country every April, which recognize the importance of increased financial and economic literacy for all Americans, particularly our children.

As detailed in the resolution, more Americans are using a greater proportion of their income to pay down their debt. In 2002, home foreclosures were the highest rate in 30 years. Consumer bankruptcies in 2001 reached an all-time high in more than a decade, and filings did not slacken in 2002. Personal savings as a percentage of GDP have decreased from 7.5 percent in the early '80s to 2.4 percent last year. Unfortunately, the modern economy is extremely complex and many parents are often unable to teach their children about money management. According to the Jump$tart Coalition, only 26 percent of 13- to 21- year-olds reported that their parents actively taught them how to manage money.

As noted by the Treasury Department, nearly 40 million Americans are ``unbanked,'' which means that they do not have a formal relationship with a mainstream financial institution. The unbanked are unable to take advantage of saving and borrowing opportunities offered by banks and credit unions. Unbanked individuals are susceptible to being taken advantage of by check cashers, payday lenders, and refund anticipation loan providers. Personal financial education can empower the unbanked to participate in and benefit from services of mainstream financial service providers.

While various financial institutions, non-profit organizations, and consumer groups are trying to educate Americans about their finances, we are still not doing enough. I was disturbed to see the results of a 2002 study by the Jump$tart Coalition for Personal Financial Literacy showing that high school seniors knew even less about credit cards, retirement funds, insurance, and other personal finance fundamentals, than did seniors five years ago. Perhaps this is why almost half of college students with credit cards have been assessed fees for late payment. In addition, the 2000 National Postsecondary Student Aid Study reported that nearly three-quarters of the college students owned a credit card in their own name. Of these students, 45

percent carried a credit card debt balance of $3,066. I was further troubled to see a 2002 survey by the National Council on Economic Education showing a decrease in the number of states that include personal finance in their education standards for grades K- through-12. At a time when we should be emphasizing the importance of financial literacy, school-based efforts in this area are actually being de- emphasized.

This is why it is imperative for us to designate a month to serve as the focus for increasing awareness about the need for financial literacy. It is also important to encourage innovative, interactive, and quality events with long-lasting impact that will bring the point home to our children about the importance of financial literacy. I would like to commend those individuals, many of whom are members of the Jump$tart Coalition, for the activities that they already sponsor to increase the level of financial literacy in our country.

For example, the American Bankers Association Education Foundation sponsors National Teach Children to Save Day, which involves thousands of bankers visiting classrooms nationwide to help students in K- through-12 with their ``financial ABC's.'' NASDAQ Stock Market Educational Foundation and the National Council on Economic Education recognize 25 teachers for their innovative approaches to economic education. Last year during Financial Literacy for Youth Month, Junior Achievement paired up with The Goldman Sachs Foundation to create Internet-driven instructional strategies and hands-on, interactive instructional techniques to teach students and parents about everyday personal financial decisions and investment strategies. Credit unions across the nation have engaged in a variety of activities, including financial management classes and the distribution of literature, to increase the financial literacy of youth and their parents. There are many, many other activities that take place during this month, and I congratulate organizations sponsoring them for keeping the needs of America's youth close at heart. A strong show of support from this body and the Administration for Financial Literacy for Youth Month will go a long way toward ensuring that our students will benefit from an increased level of financial literacy through similar activities in 2003.

Many parents fail to speak to their children about credit and debt management or ways to live within limited resources, likely because they did not receive education in these matters themselves. My colleagues and I will work to address the myriad financial and economic literacy needs of these individuals and families. However, we must emphasize the importance of helping those who are children now. Those who are still going through their formative years of schooling. Those who can learn and put into practice good personal financial management skills and lifelong habits that will stay with them, throughout their lives. Perhaps then, these students will grow into adults who will avoid skyrocketing levels of debt, the pitfalls that could cause them to file bankruptcy, or being taken advantage of by unscrupulous or opportunistic lenders. Perhaps then, they will be able to pass along similar wisdom to their children at an even earlier age, and better equip their children with the tools necessary to become responsible workers, heads of households, investors, entrepreneurs, business leaders, and citizens.

I encourage my colleagues to support this resolution.

Mr. President, it is with great pleasure that I rise today to submit a resolution to designate February 11, 2003, as ``National Inventors' Day,'' together with my colleague, the Ranking Minority Member of the Judiciary Committee, Senator Leahy. The Ranking Minority Member and I have worked together on many issues related to intellectual property, and I am pleased to be joined by him in offering this resolution designating the anniversary of perhaps America's greatest inventor, Thomas Edison, as a day to honor all of America's inventors.

Doing so is particularly fitting this year. Exactly one hundred years ago this year, on the shores of Kitty Hawk, NC, Orville and Wilbur Wright achieved what mankind had dreamed of for centuries: the first heavier-than-air, machine-powered flight in the world. While that flight covered only 120 feet and lasted only 12 seconds, it launched a revolution in air travel that continues to this day.

Throughout history, inventions have helped people discover new worlds, build communities, and cure sickness and disease. From the Wright Brothers to Philo Farnsworth, from Thomas Edison to today's high tech entrepreneurs, America's inventors have immeasurably enriched our lives. America's technological prowess and high standard of living all stems from the creativity, determination, and entrepreneurial drive of men and women who turned dreams into realities.

It is no coincidence that the United States is the most powerful technological force in history. Nor is it a coincidence that creative people from all over the world flock to our shores to pursue their dreams.

Our Founding Fathers understood that an agrarian Nation would never grow to be an economic and technological giant unless there was an incentive for inventors to create and for other inventors to study and improve upon the creations. From this foresight, enshrined in Article 1 section 8 of our Constitution, came the American system of intellectual property protection, which give inventors and authors the ability to enjoy, for a limited period of time, the exclusive economic benefits of their genius.

One of the most significant results of the Founders' foresight was the creation of the U.S. patent system, which today has issued over six million patents--from the light bulb to life-saving pharmaceuticals. What the patent system really comes down to is what President Lincoln, a patent holder himself, noted many years ago: it ``adds the fuel of interest to the spark of genius.''

Today intellectual property-based enterprises, patents, trademarks, and copyrights, represent the largest single sector of the American economy--almost 5 percent of the Gross Domestic Product--and employ over 4 million Americans. More than 50 percent of U.S. exports now depend on some form of IP protection.

America is forever indebted to our inventors. So this year, on the centennial of mankind's first flight, I hope my colleagues will join me in recognizing February 11 as ``National Inventors' Day.''

Mr. President, I am pleased the Senate is passing S. Res. 49 that Senator Hatch and I introduced to recognize February 11, 2003, as National Inventors' Day.

More than 200 years ago, on July 30, 1790, Samuel Hopkins, a resident of Vermont, was granted the first United States patent. He had discovered a process for making potash, and was

awarded his patent by President George Washington, Attorney General Edmund Randolph and Secretary of State Thomas Jefferson.

Samuel Hopkins is just one of the many resourceful and creative inventors from Vermont. The town of Brandon can boast Thomas Davenport, a self-educated blacksmith interested in electricity and magnetism. Through hands-on experiments with electromagnets, he built the first true electric motor in 1834. Initially, his patent request was denied because there was no prior patent on electric machinery. But he garnered the support of numerous professors and philosophers who examined his invention and endorsed his right to a patent on his novel device. In 1837, his determinism paid off, and he secured a patent.

John Deere was born in Rutland, VT and spent most of his early life in Middlebury. After moving out West, John Deere realized the cast-iron plows he and other settlers brought with them were not going to work in the Midwest soil. He studied the problem and developed the first successful steel plow using steel from a broken saw blade. This new steel plow became the key for successful farming in the West, and ``John Deere'' is still synonymous with farming equipment today.

Vermont continues to be a leader in inventing and obtaining patents. My State ranks fourth in the Nation for number of patents issued. IBM's Essex Junction Plant, which designs and makes computer technology for a wide range of products, received 411 patents from the U.S. Patent & Trademark Office in 2002. Vermont's plant also has 18 inventors who together have earned more than 600 patents. One of those inventors is Steve Voldman, the top patent winner. Over the past 10 years, he has received 110 patents. In 2002, he received 29. Many of his 2002 patents had to do with silicon germanium, a new technology that has produced the world's fastest chip.

Today's inventors are individuals in a shop, garage or home lab. They are teams of scientists working in our largest corporations or at our colleges and universities. In the spirit of independent inventors, small businesses, venture capitalists and larger corporations in Vermont and all over the United States, I would like to recognize February 11, 2003, as `'National Inventors' Day.''

Mr. President, more than 200 years ago, on July 30, 1790, Samuel Hopkins, a resident of Vermont, was granted the first United States patent. He had discovered a process for making potash, and was awarded his patent by President George Washington, Attorney General Edmund Randolph and Secretary of State Thomas Jefferson.

Samuel Hopkins is just one of the many resourceful and creative inventors from Vermont. The town of Brandon can boast Thomas Davenport, a self-educated blacksmith interested in electricity and magnetism. Through hands-on experiments with electromagnets, he built the first true electric motor in 1834. Initially, his patent request was denied because there was no prior patent on electric machinery. But he garnered the support of numerous professors and philosophers who examined his invention

and endorsed his right to a patent on his novel device. In 1837, his determinism paid off, and he secured a patent.

John Deere was born in Rutland, VT and spent most of his early life in Middlebury. After moving out West, John Deere realized the cast-iron plows he and other settlers brought with them were not going to work in the Midwest soil. He studied the problem and developed the first successful steel plow using steel from a broken saw blade. This new steel plow became the key for successful farming in the West, and ``John Deere'' is still synonymous with farming equipment today.

Vermont continues to be a leader in inventing and obtaining patents. My State ranks fourth in the Nation for number of patents issued. IBM's Essex Junction Plant, which designs and makes computer technology for a wide range of products, received 411 patents from the U.S. Patent & Trademark Office in 2002. Vermont's plant also has 18 inventors who together have earned more than 600 patents. One of those inventors is Steve Voldman, the top patent winner. Over the past 10 years, he has received 110 patents. In 2002, he received 29. Many of his 2002 patents had to do with silicon germanium, a new technology that has produced the world's fastest chip.

Today's inventors are individuals in a shop, garage or home lab. They are teams of scientists working in our largest corporations or at our colleges and universities. In the spirit of independent inventors, small businesses, venture capitalists and larger corporations in Vermont and all over the United States, I would like to recognize February 11, 2003, as National Inventors' Day.

Mr. President, I am pleased to submit a resolution today with Senators Bond, Lugar, DeWine, Feinstein, and Kennedy, designating March 31, 2003 as ``National Civilian Conservation Corps Day''. This day will mark the 70th anniversary of the signing of the Act that created the Civilian Conservation Corps, or CCC.

In 1933, with our country in the grip of the Depression, President Franklin D. Roosevelt created the CCC to provide work and training for the many young men who so needed it, and to achieve the goal of protecting our Nation's precious natural resources. The program continued until 1942, when resources were shifted to support efforts in World War II and an estimated 75 percent of ex-CCCers joined the military.

The accomplishments of the CCC between 1933 and 1942 are amazing by any standard. The program put over 3 million young men to work on natural resources conservation and public lands infrastructure improvements in camps in every State and the then-territories of Alaska and Hawaii, planting more than 3 billion trees, and developing more than 800 State parks.

As importantly, the lives of these young men were often dramatically changed for the better by their enrollment. Many traveled for the first time, learned new trades, and developed self-confidence and discipline, while sending much-needed money home. Thousands of alumni remain active in 167 local chapters of the National Association of Civilian Conservation Corps Alumni Association, including the Roadrunner Chapter in my home State. They still meet and share the bonds of friendship and hard work they forged during their time in the CCC.

This resolution would pay tribute to the lasting contribution of the CCC to natural resources conservation and infrastructure improvements, and to its outstanding success in providing employment and training to millions of Americans. I was pleased that the Senate commemorated the 69th anniversary of the creation of the Civilian Conservation Corps last year, and I hope the Senate will again honor the CCC on its 70th anniversary.