1st Session No. 100 EXTENSION OF THE EUROPEAN RECOVERY PROGRAM REPORT OF THE COMMITTEE ON FOREIGN RELATIONS ON S. 1209 A BILL TO AMEND THE ECONOMIC COOPERATION ACT OF 1948 MARCH 8 (legislative day, FEBRUARY 21), 1949.-Ordered to be printed CONTENTS 1. Main purposes of the bill.. 3. Progress to date-Self-help- 11. Status of deputy United States representative in Europe (sec. 3). 12. Pay and allowances of chiefs of special missions (sec. 4) 13. Ocean transportation (secs. 5 and 10 (a)).. 14. Guarantee for informational media (sec. 6 (a)). 15. Guarantees of convertibility (sec. 6 (b))- 16. Flour-wheat ratio (sec. 7 (a))__ 17. Price limitation from appropriation act (sec. 7 (b)). 18. Amounts authorized (sec. 8).. 19. Advance from the RFC (sec. 9)_ 20. Waiver of counterpart-Technical assistance (sec. 10 (a)) 21. Clarification on use of counterpart funds (sec 10 (b)).. 24. Uniform rate of ocean transportation for relief packages (sec. 11 (a))- 25. Shipping facilities for Italian emigration (sec. 11 (b))-- 818T CONGRESS 1st Session SENATE { REPORT No. 100 EXTENSION OF THE EUROPEAN RECOVERY PROGRAM MARCH 8 (legislative day, FEBRUARY 21), 1949.-Ordered to be printed Mr. CONNALLY, from the Committee on Foreign Relations, submitted the following REPORT [To accompany S. 1209] The Committee on Foreign Relations, having had under consideration a bill (S. 1209) to amend the Economic Cooperation Act of 1948, unanimously report the bill favorably to the Senate and recommend that it do pass. I. BACKGROUND OF THE EUROPEAN RECOVERY PROGRAM 1. MAIN PURPOSE OF THE BILL This bill makes possible the continuation of the European Recovery Program for an additional 15-month period. Although the European Recovery Program is envisaged as a 4-year program, the Congress specifically reserved the right to review the program every year. The bill is in the form of an amendment to the original Economic Cooperation Act (Public Law 472, 80th Cong.). It authorizes the appropriation of $1,150,000,000 for the period April through June 1949, and $4,280,000,000 for the fiscal year 1949-50-a total of $5,430,000,000 for 15 months. It also authorizes $150,000,000 in the form of forward contracting authority which will not require an appropriation this year. The amendments proposed grow out of the past year's experience in the administration of the act. 2. THE COMMITTEE HEARINGS The committee held hearings from February 8 to 17 on the extension of the European Recovery Program. On February 8 the committee met in joint session with the House Committee on Foreign Affairs to hear Mr. Paul G. Hoffman, Administrator of Economic Cooperation Administration, and Secretary of State Dean G. Acheson on the prog S. Repts., 81–1, vol. 1- -81 |