Page:United States Statutes at Large Volume 60 Part 2.djvu/551

 1640 59 Stat. 512. Ante, pp. 35, 1401. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [60 STAT. equivalent of the dollar-sterling tariff to the nearest convenient unit. (iv) The balance due as between the parties concerned shall be calculated in accordance with the tariffs drawn up in dollars and sterling, and settlement shall be made in the currency of the country of the creditor party on the basis of $4.03 to £1. In the case of a request for consulta- tion in accordance with paragraph (ii) of this Section, obligations incurred prior to the date of such request shall be settled on the basis of $4.03 to £1. The basis of settlement of balances arising in respect of the period between the date of such request and the date when new tariffs as provided in paragraph (ii) of this Section become effective shall be a matter for agreement between the parties concerned. On and after the date when new tariffs become effective settlement shall be made on the basis of the new agreed dollar-sterling rate of exchange. (v) In extending to other countries the new ceiling rate of 30 cents or ls.6d. the United States and the countries of the British Commonwealth shall seek to achieve the establishment of a tariff drawn up on a dollar-sterling basis or, failing agreement on the part of the other country to adopt that basis, of tariffs giving effect as far as practi- cable to the principles underlying the dollar-sterling basis. (vi) Should the International Monetary Fund provided for in the Bretton Woods Agreements be established, any necessary modifications in the provisions above should be considered by the authorities concerned. Section 11. Effective date. The arrangements provided in this Article shall be brought into force as soon as possible and not later than April 1st 1946. So far as practicable they shall be introduced as from a common date. Note: All references in this Article to dollars and cents, and to pounds, shillings and pence, are to United States and United Kingdom cur- rencies respectively. ARTICLE III. PRESS COMMUNICATIONS. Section 12. Privatepoint to point channelsfor Press. Private channels for point to point press traffic shall be provided where the available channels are sufficient. Charges may be based on time, words, or cost, whichever may be agreed upon by the parties concerned. Section 13. Reception of multiple address press radiocommunications. (i) The reception of press radio communications addressed to multiple destinations and transmitted from the United States or the countries of the British Commonwealth shall be permitted within their respective territories in all cases where the recipients are authorised by the sender to receive such communications.

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