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Executive Order 10827—Further Providing for the Administration of the Agricultural Trade Development and Assistance Act of 1954, as Amended

June 25, 1959

By virtue of the authority vested in me by section 301 of title 3 of the United States Code, and as President of the United States, it is ordered that sections 4 and 5 of Executive Order No. 10560 of September 9, 1954, as amended, be, and they are hereby, further amended to read as follows:

SEC. 4. Foreign currencies. (a) (1) The amounts of foreign currencies which accrue under Title I of the Act to be used for the loans described in section 104(g) of the Act, and the amounts of such currencies to be used for loans by the Export-Import Bank pursuant to section 4(d) (5) of this order, shall be the amounts thereof specified, or shall be the amounts thereof corresponding to the dollar amounts specified, for such loans in sales agreements entered into pursuant to section 3(a) of this order.

The Department of State may allocate or transfer to the Development Loan Fund foreign currencies to be used for loans made by the latter under section 104(g) of the Act in pursuance of section 4(d) (7) (i) hereof.

(2) Except as otherwise provided in section 4(a) (1) above, the Director of the Bureau of the Budget shall from time to time fix the amounts of foreign currencies which accrue under Title I of the Act to be used for the purposes described in the respective lettered paragraphs of section 104 of the Act (including purposes financed with foreign currencies acquired, or to be acquired, with funds appropriated by the Congress pursuant to the Act) and, to such extent as may be necessary, shall allocate the amounts so fixed among the Government agencies concerned.

(3) The function conferred upon the President by the last proviso of section 104 of the Act of waiving the applicability of section 1415 of the Supplemental Appropriation Act, 1953 (31 U.S.C. 724), is hereby delegated to the Director of the Bureau of the Budget.

(b) The Secretary of the Treasury is hereby authorized to prescribe regulations governing the purchase, custody, deposit, transfer, and sale of foreign currencies received under the Act.

(c) The foregoing provisions of this section shall not limit section 3 of this order, and the foregoing subsection (b) shall not limit subsection (a) above.

(d) The purposes described in the lettered paragraphs of section 104 of the Act shall be carried out, with foreign currencies made available in consonance with law and the provisions of this order, as follows:

(1) Those under sections 104(a) and 104(m) (B) of the Act by the Department of Agriculture.

(2) Those under section 104 (b) of the Act by the Office of Civil and Defense Mobilization. The function conferred upon the President by that section of determining, from time to time, materials to be contracted for or to be purchased for a supplemental stockpile is hereby delegated to the Director of the Office of Civil and Defense Mobilization.

(3) Those under section 104(c) of the Act by the Department of Defense or the Department of State, as those agencies shall agree, or in the absence of agreement, as the Director of the Bureau of the Budget shall determine.

(4) Those under sections 104(d) and 104 (e) of the Act by the Department of State, except to the extent that section 104(e) pertains to the loans referred to in subsection (d) (5) of this section.

(5) Those under section 104(e) of the Act by the Export-Import Bank of Washington to the extent that section 104(e) pertains to loans governed by that portion of such section added by the act of August 13, 1957, 71 Stat. 345.

(6) Those under section 104(f) of the Act by the respective agencies of the Government having authority to pay United States obligations abroad.

(7) (i) Those under section 104(g) of the Act by the Department of State and by the Development Loan Fund, as they shall agree. (ii) The function conferred upon the President by section 104(g) of the Act of determining the manner in which the loans provided for in section 104(g) shall be made is hereby delegated to the Secretary of State with respect to loans made by the Department of State pursuant to the assignment of purposes effected under item (i) of this paragraph, and to the Development Loan Fund with respect to loans made by the Development Loan Fund pursuant to such assignment of purposes. (iii) As used herein, the term "the Development Loan Fund" means the Managing Director of the Development Loan Fund, acting subject to the immediate supervision and direction of the board of directors of the Development Loan Fund; but, notwithstanding the foregoing, the Development Loan Fund, with respect to this order, shall be subject to the supervision and direction of the Secretary of State.

(8) Those under sections 104(h) and 104(o) of the Act by the Department of State.

(9) Those under sections 104(i) and 104(m) (A) of the Act by the United States Information Agency.

(10) Those under section 104(j) of the Act by the Department of State and by the United States Information Agency in accordance with the division of responsibilities for the administration of the United States Information and Educational Exchange Act of 1948 (62 Stat. 6) provided by Reorganization Plan No. 8 of 1953 2 (67 Stat. 642) and Executive Order No. 10477 s of August 1, 1953, and by subsequent agreement between the Department of State and the United States Information Agency.

(11) Those under section 104(k) of the Act as follows: (i) Those with respect to collecting, collating, translating, abstracting, and disseminating scientific and technological information by the Director of the National Science Foundation and such other agency or agencies as the Director of the Bureau of the Budget, after appropriate consultation, may designate. (ii) All others by such agency or agencies as the Director of the Bureau of the Budget, after appropriate consultation, may designate. As used in this paragraph the term "appropriate consultation" shall include consultation with the Secretary of State, the Director of the National Science Foundation, and any other appropriate Federal agency.

(12) Those under section 104(/) of the Act by the Department of State and by any other agency or agencies designated therefor by the Secretary of State.

(13) Those under section 104(n) of the Act by the Librarian of Congress.

SEC. 5. Reservation of functions to the President. There are hereby reserved to the President the functions conferred upon him by section 108 of the Act, with respect to making reports to Congress.

Section 1 of Executive Order No. 10685 of October 27, 1956, is hereby revoked.

DWIGHT D. EISENHOWER

THE WHITE HOUSE,

June 25, 1959.

Dwight D. Eisenhower, Executive Order 10827—Further Providing for the Administration of the Agricultural Trade Development and Assistance Act of 1954, as Amended Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/306814

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