Page:United States Statutes at Large Volume 62 Part 1.djvu/181

 62 STAT.] 80TH CONG., 2 D SESS.-CH. 169-APR. 3, 1948 efforts to accomplish a joint recovery program based upon self-help and mutual cooperation as embodied in the report of the Committee of European Economic Cooperation signed at Paris on September 22, 1947, and is contingent upon continuous effort of the participating countries to accomplish a joint recovery program through multilateral undertakings and the establishment of a continuing organization for this purpose. In addition to continued mutual cooperation of the Bilateral agreements. participating countries in such a program, each such country shall conclude an agreement with the United States in order for such coun- try to be eligible to receive assistance under this title. Such agree- ment shall provide for the adherence of such country to the purposes of this title and shall, where applicable, make appropriate provision, among others, for- (1) promoting industrial and agricultural production in order Indutrial and agri- to enable the participating country to become independent of cultural production. extraordinary outside economic assistance; and submitting for the approval of the Administrator, upon his request and whenever he deems it in furtherance of the purposes of this title, specific projects proposed by such country to be undertaken in substantial part with assistance furnished under this title, which projects, whenever practicable, shall include projects for increased produc- tion of coal, steel, transportation facilities, and food; (2) taking financial and monetary measures necessary to sta- tFinancialandmone- bilize its currency, establish or maintain a valid rate of exchange, to balance its governmental budget as soon as practicable, and generally to restore or maintain confidence in its monetary system; Trade. (3) cooperating with other participating countries in facili- tating and stimulating an increasing interchange of goods and services among the participating countries and with other coun- tries and cooperating to reduce barriers to trade among themselves and with other countries; (4) making efficient and practical use, within the framework Useofresources. of a joint program for European recovery, of the resources of such participating country, including any commodities, facilities, or services furnished under this title, which use shall include, to the extent practicable, taking measures to locate and identify and put into appropriate use, in furtherance of such program, assets, and earnings therefrom, which belong to the citizens of such country and which are situated within the United States, its Territories and possessions; (5) facilitating the transfer to the United States by sale, Transfer of materi- exchange, barter, or otherwise for stock-piling or other purposes, for such period of time as may be agreed to and upon reasonable terms and in reasonable quantities, of materials which are required by the United States as a result of deficiencies or poten- tial deficiencies in its own resources, and which may be available in such participating country after due regard for reasonable requirements for domestic use and commercial export of such country; (6) placing in a special account a deposit in the currency of Specialaccount. such country, in commensurate amounts and under such terms p and conditions as may be agreed to between such country and the Government of the United States, when any commodity or service is made available through any means authorized under this title, and is furnished to the participating country on a grant basis. Such special account, together with the unencumbered portions of any deposits which may have been made by such country pursuant to section 6 of the joint resolution providing for relief assistance to the people of countries devastated by war 61 sat. 12s. (Public Law 84, Eightieth Congress) and section 5 (b) of the s cSu s ''U ' 151

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