Page:United States Statutes at Large Volume 67.djvu/195

 67 S T A T. ]

PUBLIC LAW 118-JULY 16, 1953

169

(2) Add after section 547 the following new section: 'UNITED STATES USE OF FOREIGN CURRENCY

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"SEC. 548. (a) The several amounts otherwise authorized by this Act to be appropriated are authorized to be increased by amounts which shall not, in the aggregate, exceed $98,396,000. "(b) Amounts appropriated pursuant to any authorization contained in this Act are authorized to be made available for purchase of foreign currencies (including foreign currencies or credits owed to or owned by the United States): Provided, That such currencies or credits are authorized to be made available for use, without reimbursement to the Treasury, for liquidation of obligations legally incurred against such currencies prior to July 1, 1953." (^) NEAR EAST REFUGEES.—Add after section 548 the following new

section: "NEAR EAST REFUGEES

"SEC. 549. (a) I n order to contribute to the peace and stability of the Near East in particular and of the world in general, the Director for Mutual Security shall, in consultation with the Secretary of State, make a survey of the refugee situation in the Near East and report the results of the survey to the Congress within one hundred fifty days after the Mutual Security Act of 1953 is enacted, together with recommendations for seeking a solution. I n the making of such report and recommendations, especial consideration shall be given to a program which would utilize the services and talents of these refugees to develop and expand the resources of the area, including its water resources. "(b) I n carrying out his duties under this section, the Director for Mutual Security shall consult with the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives, and shall keep these committees constantly and fully informed of the action which he takes to carry out the provisions of this section." (h) U S E OF SURPLUS AGRICULTURAL COMMODITIES.—Add after section 549 the following new section:

Report to C otigress.

"USE OF SURPLUS AGRICULTURAL COMMODITIES

"SEC. 550. (a) Not less than $100,000,000 and not more than $250,000,000 of the funds authorized to be appropriated under this Act, shall be used, directly or indirectly, to finance the purchase of surplus agricultural commodities, or products thereof, produced in the United States. "(b) The President is authorized to enter into agreements with friendly countries for the sale and export of such surplus agricultural commodities under conditions negotiated by him with such countries and to accept in payment therefor local currency for the account of the United States. I n negotiating agreements for the sale of such commodities, the President shall— "(1) take special precaution to safeguard against the substitution or displacement of usual marketings of the United States or friendly countries, and to assure to the maximum extent practicable that sales prices of such commodities are consistent with maximum world market prices of like commodities of similar quality, and to obtain the recommendations of the Secretary of Agriculture in carrying out the provisions of this subsection; "(2) use private trade channels to the maximum extent practicable;

Agreements,

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