Proclamation 2875—Further Postponing the Effective Date of Proclamation No. 2775 of March 26, 1948, Prescribing Changes in Panama Canal Toll Rates

Whereas section 411 of title 2 of the Canal Zone Code, approved June 19, 1934, authorizes the President to prescribe and from time to time change the tolls that shall be levied by the Government of the United States for the use of the Panama Canal and provides that no tolls when so prescribed shall be changed unless six months' notice thereof is given by the President by proclamation; and

Whereas increased tolls for the use of the Panama Canal were prescribed by Proclamation No. 2775 of March 26, 1948, the said proclamation to become effective on October 1, 1948; and

Whereas the effective date of the said Proclamation No. 2775 was thereafter postponed until April 1, 1950; and

Whereas, in accordance with the recommendation contained in house Report No. 1304, 81st Congress, 1st session, I caused a study and report to be made concerning the organization and operations of the Panama Canal and the Panama Railroad Company; and

Whereas in my letter of January 31, 1950, transmitting this report to the Speaker of the House of Representatives, I recommended the enactment by the Congress of legislation which would authorize the transfer of the functions of the Panama Canal (with certain exceptions) to the Panama Railroad Company, the change of the name of the Panama Railroad Company to Panama Canal Company, and the establishment of toll rates by the board of directors of the Panama Canal Company subject to the approval of the President; and

Whereas it appears consistent with the public interest to further postpone the effective date of Proclamation No. 2775 until April 1, 1951, so that the Congress may have adequate opportunity for consideration of the report and of my recommendations and for the enactment of appropriate legislation:

Now, Therefore, I, Harry S. Truman, President of the United States of America, acting under and by virtue of the authority vested in me by the aforesaid section 411 of title 2 of the Canal Zone Code, do hereby proclaim that the effective date of the said Proclamation 2775 of march 26, 1948, is further postponed to, and shall be, April 1, 1951.

In Witness Whereof, I have hereunto set my hand and caused the seal of the United States of America to be affixed.

Done at the City of Washington this 6th day of March in the year of our Lord nineteen hundred and fifty, and of the Independence of the United States of America the one hundred and seventy-fourth.

HARRY S. TRUMAN

By the President:

DEAN ACHESON,

Secretary of State.