Page:United States Statutes at Large Volume 62 Part 1.djvu/189

 80TH CONG., 2D SESS.-CH. 169-APR. 3, 1948 of Chinia and its people in furthering the program: Providedfurther, That assistance furnished under this title shall not be construed as an express or implied assumption by the United States of any responsibility for policies, acts, or undertakings of the Republic of China or for conditions which may prevail in China at any time. SEC. 403. Aid provided under this title shall be provided under the applicable provisions of the Economic Cooperation Act of 1948 which are consistent with the purposes of this title. It is not the purpose of this title that China, in order to receive aid hereunder, shall adhere to a joint program for European recovery. SEa. 404. (a) In order to carry out the purposes of this title, there is hereby authorized to be appropriated to the President for aid to China a sum not to exceed $338,000,000 to remain available for obliga- tion for the period of one year following the date of enactment of this Act. (b) There is also hereby authorized to be appropriated to the Pres- ident a sum not to exceed $125,000,000 for additional aid to China through grants, on such terms as the President may determine and without regard to the provisions of the Economic Cooperation Act of 1948, to remain available for obligation for the period of one year fol- lowing the date of enactment of this Act. SEC. 405. An agreement shall be entered into between China and the United States containing those undertakings by China which the Secretary of State, after consultation with the Administrator for Eco- nomic Cooperation, may deem necessary to carry out the purposes of this title and to improve commercial relations with China. SEC. 406. Notwithstanding the provisions of any other law, the Reconstruction Finance Corporation is authorized and directed, until such time as an appropriation is made pursuant to section 404, to make advances, not to exceed in the aggregate $50,000,000, to carry out the provisions of this title in such manner and in such amounts as the President shall determine. From appropriations authorized under section 404, there shall be repaid without interest to the Recon- struction Finance Corporation the advances made by it under the authority contained herein. No interest shall be charged on advances made by the Treasury to the Reconstruction Finance Corporation in implementation of this section. SEC. 407. (a) The Secretary of State, after consultation with the Administrator, is hereby authorized to conclude an agreement with China establishing a Joint Commission on Rural Reconstruction in China, to be composed of two citizens of the United States appointed by the President of the United States and three citizens of China appointed by the President of China. Such Commission shall, sub- ject to the direction and control of the Administrator, formulate and carry out a program for reconstruction in rural areas of China, which shall include such research and training activities as may be necessary or appropriate for such reconstruction: Provided, That assistance furnished under this section shall not be construed as an express or implied assumption by the United States of any responsibility for making any further contributions to carry out the purposes of this section. (b) Insofar as practicable, an amount equal to not more than 10 per centum of the funds made available under subsection (a) of sec- tion 404 shall be used to carry out the purposes of subsection (a) of this section. Such amount may be in United States dollars, proceeds in Chinese currency from the sale of commodities made available to China with funds authorized under subsection (a) of section 404, or both. Approved April 3, 1948. Ante, p. 137. Appropriation au- thorized. Post, p. 1056. Additional appro- priation authorized. Post, p. 1056. Bilateral agreement. Advances by RFC. Supra. Repayment to RFC. Joint Commission on Rural Reconstruc- tion In China. Further contribu- tions. Supra. 62 STAT.] 159

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