Page:United States Statutes at Large Volume 68 Part 1.djvu/864

 832

Ante, p. 448.

PUBLIC LAW 664-AUG. 26, 1954

U. S. merchant vessels. C a r g o preference. 49 Stat. 2015. 46 USC 1241.

15 USC 616a.

CHAPTER936

AN ACT To amend the Merchant Marine Act, 1936, to provide permanent legislation for the transportation of a substantial portion of waterborne cargoes in United States-flag vessels. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 901 of the Merchant Marine Act, 1936, as amended, is hereby amended by inserting " (a) " after "SEC. 901." and by adding at the end of the section the following new subsection: "(b) whenever the United States shall procure, contract for, or otherwise obtain for its own account, or shall furnish to or for the account of any foreign nation without provision for reimbursement, any equipment, materials, or commodities, within or without the United States, or shall advance funds or credits or guarantee the convertibility of foreign currencies in connection with the furnishing of such equipment, materials, or commodities, the appropriate agency or agencies shall take such steps as may be necessary and practicable to assure that at least 50 per centum of the gross tonnage of such equipment, materials, or commodities (computed separately for dry bulk carriers, dry cargo liners, and tankers), which may be transported on ocean vessels shall be transported on privately owned United States-flag commercial vessels, to the extent such vessels are available at fair and reasonable rates for United States-flag commercial vessels, in such manner as will insure a fair and reasonable participation of United States-flag commercial vessels in such cargoes by geographic areas: Provided, That the provisions of this subsection may be waived whenever the Congress by concurrent resolution or otherwise, or the President of the United States or the Secretary of Defense declares that an emergency exists justifying a temporary waiver of the provisions of section 901(b) and so notifies the appropriate agency or agencies: And provided further, That the provisions of this subsection shall not apply to cargoes carried in the vessels of the Panama Canal Company. Nothing herein shall repeal or otherwise modify the provisions of Public Resolution Numbered 17, Seventy-third Congress (48 Stat. 500), as amended." Approved August 26, 1954. Public Law 665

August 26, 1954 [H. R. 9678]

ST A T.

30, 1954, and the date of enactment of this Act in anticipation of such appropriations, authorizations, and authority are hereby ratified and confirmed if in accordance with the terms hereof and the terms of Public Law 475, Eighty-third Congress. Approved August 26, 1954. Public Law 664

August 26, 1954 [S. 3233]

[68

CHAPTER 937

AN ACT To promote the security and foreign policy of the United States by furnishing assistance to friendly nations, and for other purposes.

Be it enacted by the Senate and House of Representatives of the Mutual Security United States of America in Congress assembled, That this Act may Act of 1954. ^^ ^-^g^ ^g ^j^g "Mutual Security Act of 1954".

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