Page:United States Statutes at Large Volume 62 Part 2.djvu/889

 62 STAT.] AUSTRIA-ECONOMIC COOPERATION-JULY 2, 1948 The American Minister to the Austrian Minister of Foreign Affairs 2171 AMERICAN LEGATION Vienna, Austria, July 2, 1948 SIR: I have the honor to refer to Article IV of the Economic Cooperation Agreement of this date between our two Governments. In regard to the provisions of this Article, your attention is invited to the fact that Section 115 (b) (6) of the Economic Cooperation Act of 1948 grants wide discretion to authorize the use of funds from the Special Schilling Account, provided for thereunder, for purpose of internal monetary and financial stabilization, for the stimulation of productive activity and the exploration for and development of new sources of wealth and for such other expenditures as may be consistent with the purposes of the Act. You may be sure that the Government of the United States of America and the Economic Cooperation Adminis- trator desire as fully as the Austrian Government to bring about eco- nomic recovery in Austria and will take every reasonable measure, within the broad scope of this provision of the Economic Cooperation Act referred to above, to assist the Austrian Government in dealing with its currency problems in relation to the requirements of Article IV of the Agreement. Accept, Sir, the renewed assurances of my highest consideration. JOHN G. ERHARDT The Honorable KARL GRUBER, Minister of Foreign Affairs, Vienna. Use of funds from Special Account. Ante, p. 2140. 62 Stat., Pt. 1, p. 151. No. 5

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