« PreviousContinue »
agreement, August 1 through September 15, 1949.----
INTERNATIONAL WHEAT AGREEMENT FUNDS
WEDNESDAY, SEPTEMBER 21, 1949
UNITED STATES SENATE,
Washington, D. C. The subcommittee met, pursuant to call, at 2:45 a. m., in the District of Columbia Room, United States Capitol Building, Senator Olin D. Johnston presiding.
Present: Senators Johnston (presiding), Holland, and Young.
Also present: A. J. Borton, Office of Manager, Commodity Credit Corporation.
Senator Johnston. The subcommittee, consisting of Senator Holland, Senator Gillette, Senator Young, Senator Hickenlooper, and myself, was appointed to hold hearings on S. 2287 and S. 2383, and I believe the Secretary has some witnesses at this time to be heard. (S. 2287 and S. 2383 follow.)
(S. 2383, 81st Cong., 1st sess.) A BILL To give effect to the International Wheat Agreement signed by the United States and other coun
tries relating to the stabilization of supplies and prices in the international wheat market Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act shall be known as the “International Wheat Agreement Act of 1949."
SEC. 2. The President is hereby authorized, acting through the Commodity Credit Corporation, to make available or cause to be made available, notwithstanding the provisions of any other law, such quantities of wheat and wheat flour and at such prices as are necessary to exercise the rights, obtain the benefits, and fulfill the obligations of the United States under the International Wheat Agreement of 1949 signed by Australia, Canada, Fra the United States, and Uruguay, and certain wheat importing countries (hereinafter called “International Wheat Agreement”). Nothing herein shall be construed to preclude the Secretary of Agriculture, in carrying out programs to encourage the exportation of agricultural commodities and products thereof pursuant to section 32 of Public Law 320, Seventy-fourth Congress, as amended, from utilizing funds available for such programs in such manner as, either separately or jointly with the Commodity Credit Corporation, to exercise the rights, obtain the benefits, and fulfill all or any part of the obligations of the United States under the International Wheat Agreement or to preclude the Commodity Credit Corporation in otherwise carrying out wheat and wheat flour export programs as authorized by law. Nothing contained herein shall limit the duty of the Commodity Credit Corporation to the maximum extent practicable consistent with the fulfillment of the Corporation's purposes and the effective and efficient conduct of its business to utilize the usual and customary channels, facilities, and arrangements of trade and commerce in making available or causing to be made available wheat and wheat flour hereunder. The pricing provisions of section 112 (e) of the Economic Cooperation Act of 1948 and section 4 of the Act of July 16, 1943 (57 Stat. 586), shall not be applicable to domestic wheat and wheat flour supplied to countries which are parties to the International Wheat Agreement and credited to their guaranteed purchases thereunder.
Sec. 3. (a) The President is hereby further authorized to take such other action, including prohibiting or restricting the importation or exportation of wheat