893.50 Recovery/4–348: Telegram
The Acting Secretary of State to the Ambassador in China (Stuart)
483. China aid act,70 as revised in conference, passed by both houses Congress Apr 2 and expected to be signed by President Apr 3.
Pertinent provisions as follows: Aid to be provided under applicable provisions Economic Cooperation Act of 194871 which are consistent with purposes China aid act. Act authorizes to be appropriated to President to carry out its purposes $338 million for one year following date enactment. Act also authorizes to be appropriated to President sum not to exceed $125 million for additional aid to China through grants,72 on such terms as President may determine and without regard to provisions of Economic Cooperation Act of 1948, to be available for one year following date enactment. Bilateral agreement73 to be concluded containing undertakings which SecState, after consultation with Administrator for Economic Cooperation,74 may deem necessary to carry out purposes act and improve commercial relations with China. RFC authorized make advances not to exceed 50 million dollars prior to appropriation above sums. SecState also authorized, after consultation with Administrator, conclude agreement with Chinese Govt for Joint Commission on Rural Reconstruction in China,75 composed of two Americans and three Chinese. Commission subject to direction and control of Administrator shall formulate and carry out program rural reconstruction. Not more than 10 percent of the $338 million is to be made available for this purpose, such amount to be in US dollars, Chinese currency proceeds from sales of aid program imports or both.
- Title IV of Foreign Assistance Act of 1948, approved April 3, 1948; 62 Stat. 158.↩
- Title I of Foreign Assistance Act of 1948; 62 Stat. 137.↩
- For correspondence on utilization of these grants, see pp. 73 ff., passim.↩
- For correspondence on negotiation of this agreement, see pp. 506 ff.↩
- Paul G. Hoffman was appointed to this position on April 6.↩
- For correspondence on negotiation of this agreement, see pp. 601 ff.↩