Page:United States Statutes at Large Volume 65.djvu/104

 70 62 Stat. 146. 22 U.S.C. § 1509.

Funds available to President.

64 Stat. 757. 62 Stat. 137. 22 U.S.C. § 150 note. Issuance of notes by Administrator.

40 Stat. 288. 3 1 U.S.C. §774(2). 64 Stat. 768.

Restriction on use of fluids.

62 Stat. 137. 22 U.S.C. 5 1501 note. Transportation of supplies. RFC advances.

PUBLIC LAW 48—JUNE 15, 1951

[65

STAT.

provided in section 111(c)(2) of the Economic Cooperation Act of 1948, as amended, including payment by transfer to the United States (under such terms and in such quantities as may be agreed to between the Administrator and the Government of India) of materials required by the United States as a result of deficiencies, actual or potential, in its own resources. The Administrator is directed and instructed that in his negotiations with the Government of India he shall, so far as practicable and possible, obtain for the United States the immediate and continuing transfer of substantial quantities of such materials particularly those found to be strategic and critical. SEC. 3. For purposes of this Act the President is authorized to utilize not in excess of $190,000,000 during the period ending June 30, 1952, of which sum (1) not less than $100,000,000 shall be made available immediately from funds heretofore appropriated by Public Law 759, Eighty-first Congress, for expenses necessary to carry out the provisions of the Economic Cooperation Act of 1948, as amended; and (2) $90,000,000 shall be available from any balance of such funds unallotted and unobligated as of June 30, 1951: Provided, That if such amount unallotted and unobligated is less than $90,000,000 an amount equal to the difference shall be obtained from the issuance of notes in such amount by the Administrator for the Economic Cooperation Administration, who is hereby authorized and directed to issue such notes from time to time during fiscal years 1951 and 1952 for purchase by the Secretary of the Treasury, and the Secretary of the Treasury is hereby authorized and directed to purchase such notes and, in making such purchases to use, as a public debt transaction, the proceeds of any public debt issue pursuant to the Second Liberty Loan Act as amended: And provided further. That $50,000,000 reserved by the Bureau of the Budget pursuant to section 1214 of Public Law 759 of the Eight-first Congress from funds appropriated by that Act for expenses necessary to carry out the provisions of the Economic Cooperation Act of 1948, as amended, shall not be available for purposes of this section. SEC. 4. (a) Funds made available for purposes of this Act shall be used only for the purchase of food grains or equivalents in the United States. (b) No procurement of any agricultural product within the United States for the purpose of this Act shall be made unless the Secretary of Agriculture shall find and certify that such procurement will not impair the fulfillment of the vital needs of the United States. (c) The assistance provided under this Act shall be for the sole purpose of providing food grains, or equivalents, to meet the emergency need arising from the extraordinary sequence of flood, drought, and other conditions existing in India in 1950. (d) The assistance provided under this Act shall be provided under the provisions of the Economic Cooperation Act of 1948, as amended, applicable to and consistent with the purposes of this Act. SEC. 5. Notwithstanding the provisions of any other law, to the extent that the President, after consultation with appropriate Government officials and representatives of private shipping, finds and proclaims that private shijDping is not available on reasonable terms and conditions for transportation of supplies made available under this Act, the Reconstruction Finance Corporation is authorized and directed to make advances not to exceed in the aggregate $20,000,000 to the Department of Commerce, in such manner, at such times, and in such amounts as the President shall determine, for activation and operation of vessels for such transportation, and these advances may

�