Page:United States Statutes at Large Volume 62 Part 2.djvu/637

 1918 Annual budget. Limitation on pow- ers of Foundation. Board of Directors. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. of the Foundation as directed by auditors selected by the Secretary of State of the United States of America. (9) Engage administrative and clerical staff and fix and pay the salaries and wages thereof. ARTICLE 3 All expenditures by the Foundation shall be made pursuant to an annual budget to be approved by the Secre- tary of State of the United States of America pursuant to such regulations as he may prescribe. ARTICLE 4 The Foundation snall not enter into any commitment or create any obligation wnich shall bind the Foundation in excess of the funds actually on hand nor acquire, hold, or dispose of property except for the purposes authorized in the present agreement. ARTICLE 5 The management and direction of the affairs of the

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