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After the Chancellor, on behalf of the Board, thanked Senator Inouye for his presentation, Senator Moynihan expressed his confidence in the appropriateness of placing the Heye Foundation collections in the Custom House. He added that the New York State Attorney General is approving of the proposal which is represented by the revised S. 1722, that both New York City and the State have promised support for the maintenance of the collection in the Custom House, and the President is also known to have indicated his approval recently. Senator Moynihan also offered to arrange tours of the Heye Foundation's facilities for as many Regents as can travel to New York for this purpose.

Mr. Adams said that the revisions to S. 1722 as characterized by Senator Inouye would appear to go a long way toward meeting the objections that had been voiced previously, and he expressed his gratitude to Senator Inouye for his generous effort to address these concerns. For instance, in glancing through the text of the revised bill he noticed that the earlier requirement for a building on the Mall of no less than 400,000 square feet had been dropped, and Senator Inouye acknowledged that the Secretary's earlier expressions of concern on this matter had been addressed. Mr. Adams went on to say that this was a fundamental and very important contribution to these discussions because the question of scale is one that comes to the heart of the Regents' determination of priorities. Given that the ultimate question is one of priority-setting, the Secretary urged the Regents to allow him to pursue further negotiations on the various issues which remain unresolved.

In discussion which ensued the Regents expressed the view that the large amount of material which had been provided would require a certain