Page:United States Statutes at Large Volume 62 Part 2.djvu/1312

 62 STAT.] UNITED KINGDOM-ECONOMIC COOPERATION-JULY 6, 1948 ment of the productive capacity of the United Kingdom and the other participating countries, and projects or programmes the external costs of which are being covered by assistance rendered by the Government of the United States of America under the Economic Co-operation Act of 1948 or otherwise, or by loans from the International Bank for Reconstruction and Development; (b) Expenditures upon the exploration for and development of additional production of materials which may be required in the United States of America because of deficiencies or potential deficiencies in the resources of the United States of America; and (c) Effective retirement of the national debt, especially debt held by the Central Bank or other banking institutions. 7. Any unencumbered balance, other than unexpended amounts allocated under paragraph 4 of this Article, remaining in the Special Account on 30th June, 1952, shall be disposed of within the United Kingdom for such purposes as may hereafter be agreed between the Governments of the United States of America and the United Kingdom, it being understood that the agreement of the United States of America shall be subject to approval by Act or joint resolution of the Congress of the United States of America. ARTICLE V 1. The Government of the United Kingdom will facilitate the trans- fer to the United States of America, for stockpiling or other purposes, of materials originating in the United Kingdom which are required by the United States of America as a result of deficiencies or potential deficiencies in its own resources, upon such reasonable terms of sale, exchange, barter or otherwise, and in such quantities, and for such period of time, as may be agreed to between the Governments of the United States of America and the United Kingdom after due regard for the reasonable requirements of the United Kingdom for domestic use and commercial export of such materials. The Government of the United Kingdom will take such specific measures as may be necessary to carry out the provisions of this paragraph, including the promotion of the increased production of such materials within the United Kingdom, and the removal of any hindrances to the transfer of such materials to the United States of America. The Government of the United Kingdom will, when so requested by the Government of the United States of America, enter into negotiations for detailed arrangements necessary to carry out the provisions of this paragraph. 2. Recognising the principle of equity in respect to the drain upon the natural resources of the United States of America and of the partic- ipating countries, the Government of the United Kingdom will, when so requested by the Government of the United States of America, nego- tiate where applicable (a) a future schedule of minimum availabilities to the United States of America for future purchase and delivery of a fair share of materials originating in the United Kingdom which are required by the United States of America as a result of deficiencies 2601 62 Stat., Pt. 1, p. 137. Disposition of unen- cumbered balances. Access to materials. Post, pp. 2603, 2606. Pot, p. 2606.

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