Page:United States Statutes at Large Volume 61 Part 4.djvu/239

 61 STAT.] CHINA-EDUCATIONAL FOUNDATION-NOV. 10, 1947 The Government of the United States of America and the Govern- ment of the Republic of China, Desiring to promote further mutual understanding between the peoples of the United States of America and the Republic of China by a wider exchange of knowledge and professional talents through educational contacts, Considering that Section 32 (b) of the United States Surplus Property Act of 1944, as amended (Public Law No. 584, 79th Congress; 60 Stat. 754), provides that the Secretary of State of the United States of America may enter into an agreement with any foreign government for the use of currencies or credits for currencies of such foreign government acquired as a result of surplus property disposals for certain educational activities, and Considering that under the provisions of the agreement between the Government of the United States of America and the Government of the Republic of China for the sale of certain surplus war property, signed at Shanghai on August 30, 1946, [1] it is provided that the Gov- ernment of the Republic of China shall make available to the Govern- ment of the United States of America the equivalent of $20,000,000 (United States currency) for research, instruction, and other education- al activities under the terms of Section 32 (b) of the Surplus Property Act of 1944, as amended, Have agreed as follows: Article 1 There shall be established in the capital city of China a foundation to be known as the United States Educational Foundation in China (hereinafter designated "the Foundation"), which shall be recognized by the Government of the United States of America and the Govern- ment of the Republic of China as an organization created and estab- lished to facilitate the administration of the educational program to be financed by funds made available by the Government of the Republic of China in accordance with Article 6 b. (1) of the agreement for the sale of certain surplus war property signed at Shanghai on August 30, 1946. ['] Except as provided in Article 3 hereof the Foundation shall be exempt from the domestic and local laws of the United States of America as they relate to the use and expenditure of currencies and credits for currencies for the purposes set forth in the present agree- ment. The funds made available by the Government of the Republic of China shall be used by the Foundation for the purpose, as set forth in Section 32 (b) of the United States Surplus Property Act of 1944, as amended, of (1) financing studies, research, instruction, and other educational activities of or for citizens of the United States of America in schools and institutions of higher learning located in China, or of the citizens of China in United States schools and institu- tions of higher learning located outside the continental United [Not printed.] 3583 60U.S.C.app. § 1641 (b). United States Edu- cational Foundation in China. Use of funds. 60 Stat. 7i4. 50U.S.C.app. § 1641 (b).

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