Page:United States Statutes at Large Volume 40 Part 1.djvu/1331

 srxrrrrrrn oonennss. sm. rrr. os. 100. 1919. 1313 the proceeds thereof, and any payments so received from foreign governments on account of the principal of such obligations, to the redemption or purchase, at not more than par and accrued interest, of any bonds 0 the United States issued under the authority of the First Liberty Bond Act or Second Liberty Bond Act as amended and supplemented, and if such bonds can not be so redeemed or purchased, 0b§$§{°m¤¤°$*¤¤di¤g the Secretary of the Treasury shall redeem or {purchase any other ` outstandinv interest-bearing obli ations of the nited States which may at such time be subject to redemption or which can be purchased at not more than par and accrued interest. _ (c) For the purposes of this section there is appropriated the unex- ,.,’§§°,§’§§§'§§l§§§L§§“' plended balance o the appropriations made by section 2 of the First ·*”’¢·P· $4* iberty Bond Act and b section 2 of the Second Liberty Bond Act as amended by the Liberty Bond Act and the Fourth Liberty Bond Act, but nothing in this section shall be deemed to rohibit the use of such unexpended balance or any part thereof for the p oses of section 2 of the Second Liberty Bond Act, as so amended, ld-iilbject to the limitations therein contained. _ Sec. 8. That the obligations of foreign overnments acquired by ;,,g1}l,"§I§H§}t?§Q*slT‘r°° the Secretary of the Treasury by virtue of tilie provisions of the First Liberty Bond Act and the Second Liberty Bond Act, and amendments and srap lements thereto, shall mature at such dates as shall be determine by the Secretary of the Treas1u·y: Provided, That such §{,°§;{;°hm hmm, obligations acquired bv virtue of the provisions of the First Liberty inggim Bond Act, or through the conversion of short-time obligations acquired ‘ under such Act, shall mature not later than June 15, 1947, and all other such obligations of fore@ governments shall mature not later ‘ than October 15, 1938. wu mmm CNW Sec. 9. That the War Finance Corporation Act is hereby amended mum. by adding to Title I thereof a new section, to read as follows: "Sec. 21. (a) That the Corporation shall be empowered and t°§}°*€-?m authorized, in order to promote commerce with foreign nations mem. through the extension of credits, to make advances upon such terms, ,,f""* *’· 5** ’““°“" not inconsistent with the provisions of this section, as it may prescribe, for periods not exceeding five years from the respective dates of such advances: " (1) To any person, firm, corporation, or association en aged in ·‘}{,"°“°°’°‘§,"l‘,,,,°'l,§f,‘},; the business in the United States of exporting therefrom domestic {;•;l&';°°:*P*l“‘;¤°¤ ”°¤¤ products to foreign countries, if such person, firm, corgloration, or ` association is, in the opinion of the board of directors of the Corporation, unable to obtain funds upon reasonable terms through banking channels. Any such advance shall be made only for the purpose o um"°"°°‘ assisting in the exportation of such products, and shall be limited in amount to not more than the contract price therefor, including insurance and carryinv or transportation c arges to the foreign point of destination if and to the extent that such insurance and carrying or transportation charges are payable in the United States by such exporter to domestic insurers and carriers. The rate of interest I“‘°'°*°°l*=¤¤°· charged on any such advance shall not be less than ldper centum per annum in excess of the rate of discount for ninety ay commercial aper prevailing at the time of such advance at the Federal reserve _ iiank of the district in which the borrower is located; and _ " (2) To any bank, banker, or trust company in the United States which after this section takes effect makes an advance to any such Lim'- person, Hrm, corporation, or association for the purgiose of assisting rn the exportation of such products. Any such a vance shall not exceed the amount remaining unpaid of the advances made by such bank, banker, or trust company to such person, Erm, corporation, or association for such prupose. 112460°-—voL 40—r=·r 1——S3