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82D C O N G R E S S R J 1 1 1ST S E S S I O N ^ ^ ^ ^ 4 / > I ^ ^ I N T H E S E N A T E OF T H E U N I T E D STATES MARCH Mr. 14 (legislative day, MARCH 12), 1951 B Y R D (for himself, M r . F E R G U S O N , and M r . W I L L I A M S ) introduced the following bill; which was read twice and referred to the Committee on Banking and Currency A BILL To dissolve the Reconstruction Einance Corporation, and to provide for the transfer of certain functions heretofore vested in the Reconstruction Einance Corporation with respect to the administration of the rubber, tin, and abaca programs. 1 Be it enacted 2 tives of the United 3 That, notwithstanding any other provision of law with re- 4 spect to the date upon which the powers granted to the 5 Reconstruction Einance Corporation by section 4 of the 6 Reconstruction Einance Corporation Act shall be terminated, 7 or the date upon which the succession of the Reconstruction 8 Einance Corporation shall expire, the Reconstruction Einance by the Senate and House States of America of Representa- in Congress assembled, 2 1 Corporation is hereby dissolved. The duty of liquidating the 2 assets and winding up the affairs of such Corporation shall 3 devolve upon the Secretary of the Treasury who shall proceed 4 with such liquidation of assets and winding up of affairs as 5 expeditiously as possible in accordance with the provisions 6 of section 10 of the Reconstruction Finance Corporation Act; 7 except that the unused balance of the moneys belonging to 8 the Corporation, required by such section to be paid into the 9 Treasury, shall be used exclusively for the reduction of the 10 public debt. H SEC. 2. The functions of the Reconstruction Finance 12 Corporation with respect to the administration and super13 vision of the rubber program (Rubber Act of 1948, as ^ amended), the tin program (Public Law 125, Eightieth ^ Congress, as amended), and the abaca program (Public Law 683, Eighty-first Congress), together with all properties, 17 assets, funds, contracts, loans, liabilities, commitments, authorizations, allocations, personnel, and records necessary in ^ 90 91 connection with the exercise of such functions, are hereby transferred to the Office of Defense Mobilization. Except as specifically provided herein, this section shall not be con- 22 strued to modify or repeal any of the Acts under which such ^ programs are carried out.
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