61 STAT.] 80TH CONG. , 1ST SESS.-CH. 520-DEC. 17, 1947 President, whenever he finds it in furtherance of the purposes of this Act and upon the terms and conditions set forth in this Act- (a) procure, or provide for the procurement of, from any source- (1) food, medical supplies, fibers, fuel, petroleum and petroleum products, fertilizer, pesticides, and seed, delivered in a recipient country on or after the date of the enactment of this Act; and (2) incentive goods, consisting of commodities not in short supply in the United States, including Government-owned stocks, to be used, distributed, or sold in a recipient country, under a specific agreement previously entered into pursuant to section 5 (g) to increase the production or distribution of locally produced commodities referred to in paragraph (1) of this subsection (a): Provided, That not more than 5 per centum of the funds made available under the authority of this Act may be used to procure such incentive goods; (b) transport and store, or provide for transportation and storage of, such commodities; (c) transfer such commodities to any recipient country; (d) incur and defray expenses, including administrative expenses and expenses for compensation and travel of personnel, for carrying out the purposes of this Act. SEC. 4. The President shall promulgate regulations controlling the Purchase and pro- purchase or procurement of commodities under this Act designed to curement reglatios. minimize (a) the drain upon the natural resources of the United States and (b) the impact of such purchase or procurement upon the domestic price level: Provided- (1} That procurement may be from foreign sources whenever Procurement from the cost delivered to the recipient country will be less than the cost oreig ouces. delivered from the United States; (2) That, except in the case of commodities not produced in commercial quantities in the United States, not more than 10 per centum of the funds made available under the authority of this Act may be used to procure commodities abroad at delivered cost higher than from the United States, its Territories and possessions, provided that the President shall find that such commodities are m short supply or not readily available in the United States: Provided further That no funds made available under tlhe Iric limitation. authority of this Act shall be used by any procurenenlt agency of the United States Government for the purchase, within the United States and its Territories and possessions, of any commodities (other than commodities procured by or in the possession of the Commodity Credit Corporation pursuant to Act of July 1, 1941, 15 U.S . C. 713, 55 Stat. 498, as amended) at prices higher than the market price AntC,p.451. prevailing at the time of the purchase in the area wherein the purchase is made; (3) That the President shall, in making a finding of short supply in the United States, consider (a) the drain upon natural resources, and (b) the effect of the necessary procurement upon domestic prices; (4) That the procurement of petroleum and petroleum prod- etroleum and pe- ucts shall, to the maximum extent practicable, be made fromtroleu du petroleum sources outside of the United States and its Territories and possessions; and wherever practicable such petroleum and petroleum products shall be delivered to the recipient country by the most economical route from the source of supply. SEC. 5 . Before any commodities are made available to any recipient ilateralagreement. country under the authority of this Act, an agreement shall be entered cipient coanty. 935
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