Page:United States Statutes at Large Volume 62 Part 3.djvu/340

 62 STAT.] CHINA-ECONOMIC COOPERATION-JULY 3, 194S less, however, the amount of deposits made pursuant to the exchange of notes referred to in sub-paragraph (b). The Government of the United States of America shall from time to time notify the Govern- ment of China of the indicated dollar cost of any such commodities, services and technical information and the Government of China will deposit in the special account at such times as may be specified by the Government of the United States of America a commensurate amount of Chinese currency computed at a rate of exchange to be agreed upon between the Government of the United States of Amer- ica and the Government of China. The Government of China will upon the request of the Government of the United States of America make advance deposits in the special account which shall be credited against subsequent notifications pursuant to this paragraph. 3. The Government of the United States of America will from time to time notify the Government of China of its requirements for administrative expenditures in Chinese currency within China inci- dent to operations under the China Aid Act of 1948 and the Govern- ment of China will thereupon make such sums available out of any balances in the special account in the manner requested by the Gov- ernment of the United States of America in the notification. 4. The Government of China will further make such sums of Chinese currency available out of any balances in the special account as may be required to cover: A. Expenditures required to carry out the purposes of the Joint Commission on Rural Reconstruction in China as provided for by Section 407 of the China Aid Act of 1948; and B. Costs (including port, storage, handling and similar charges) of transportation from any point of entry in China to the consignee's designated point of delivery in China of such relief supplies and packages as are referred to in Article VII. 5. The Government of China shall dispose of any remaining balance in the special account only for such purposes as may be agreed from time to time with the Government of the United States of America including in particular: A. Sterilization as a measure of monetary and financial stabilization; B. Expenditures incident to the stimulation of productive activity and the development of new sources of wealth including 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; C. Expenditures upon projects or programs the external costs of which are being covered in whole or in part by assistance rendered by the Government of the United States of America or by loans from the International Bank for Reconstruction and Development; or D. Expenditures upon un- completed relief or work relief projects undertaken pursuant to the Agreement between the Governments of the United States of America and of China of October 27, 1947. 6. The Government of China will maintain the value in terms of United States dollar equivalent of such amount of the special account as is: A. Indicated by the Government of the United States 2949 Special account; payments. U.. . dministrative expenditures. 62 Stat., Pt. 1,p. 158. Rural reconstruc- tion. 62Stat., Pt.1, p. 159. Transportation of relief supplies. Disposition of bal- ance; purposes. 61 Stat., Pt. 4, p. 3374. Maintenanc ofU. 8. value of designated amounts.

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