TRUST LAWS AND TRADE REGULATIONS ABROAD 75 eign investment board has been established to rule upon proposals and agreements for the conduct of foreign business and investments. Peru.-New price controls for prime necessities were ordered by a decree law December 3, 1948, with severe punishment for speculation and hoarding. An advisory commission on economic matters created in June 1948 will study and coordinate public and private economic development plans and advise national corporations and financial agencies handling loans for projects. In order to increase the cultivation of land and production of foodstuffs, the government is operating pools of federally owned farming machinery and tools, which are made available to farmers at reasonable prices. Poland.-Federations of private industry with compulsory membership were ordered for a number of important industries in June 1948. Government foreign trade monopolies have also been established for products of importance, with authority to plan and administer purchase and sale in domestic and foreign commerce, and to fix prices with approval of the Minister of Industry and Commerce. A system of land socialization was adopted in July 1948. Under a compulsory savings law effective in January 1948, all private individuals and enterprises are compelled to save a portion of their income. Rumania.-Establishment of a Ministry of Trade by decree in May 1948 brought practically all of Rumania's domestic and foreign trade under state control, covering business transactions, planning, procurement, and distribution of goods within the country and abroad. All privately owned resources of the subsoil and all manufacturing and processing enterprises, banks, insurance companies, transportation, and communications were nationalized under a law published June 12, 1948. A state planning commission was established in July 1948 as the economic planning agency for all industry. The last of the large farms in Rumania were taken over by the government under a decree issued March 2, 1949. Union of South Africa.-Price control is effected through regulation of profits. In order to combat the rising cost of living, the Minister of Economic Affairs published in July 1948 a list of revised profit margins that would be allowed by the government. PART VIII. FISCAL AFFAIRS APPROPRIATION ACTS PROVIDING FUNDS FOR The Independent Offices Appropriation Act, 1949 (Public Law 491, 80th Cong.), approved April 20, 1948, provided funds for the fiscal year 1949 for the Federal Trade Commission as follows: FEDERAL TRADE COMMISSION Salaries and expenses.-For necessary expenses, including personal services in the District of Columbia; health service program as authorized by law (5 U. S. C. 150); payment of claims pursuant to section 403 of the Federal Tort Claims Act (28 U. S. C. 921); contract stenographic reporting services; newspapers not to exceed $500; and not to exceed $9,000 for deposit in the Treasury for penalty mail (39 U. S. C. 321d); $3,401,510, of which not less than $228,695 shall be available for the enforcement of the Wool Products Labeling Act; and not less than $207,000 shall be available for the Trade Practice Conference Rule work: Provided, That no part of the funds appropriated herein for the Federal Trade Commission shall be expended upon any investigation hereafter provided by concurrent resolution of the Congress until funds are appropriated subsequently to the enactment of such resolution to finance the cost of such investigation. Printing and binding. For all printing and binding for the Federal Trade Commission, $46,525. APPROPRIATIONS FOR FISCAL YEAR Funds appropriated to the Commission for the fiscal year 1949 as cited above amounted to $3,448,035. In addition the Second Deficiency Appropriation Act, 1949 (Public Law 119, 81st Cong.), approved June 23, 1949, provided $173,000, making a total available of $3,621,035. This sum was made up of two items: (1) $3,574,510 for the general work of the Commission, and (2) $46,525 for printing and binding. APPROPRIATIONS AND EXPENDITURES 77 Appropriations, allotments, expenditures, liabilities, and balances for the fiscal year ended June 30, 1949 APPROPRIATIONS AND EXPENDITURES, 1915–49 Appropriations available to the Commission since its organization and expenditures for the same period, together with the unexpended balances, are: Printing and binding. Printing and binding. Printing and binding. Appropriations $184, 016. 23 12, 386. 76 430, 964. 08 15,000.00 542, 025.92 25,000.00 1, 578, 865. 92 30,000.00 1,693, 622. 18 14, 934. 21 1,206, 587. 42 28, 348. 97 952, 020. 11 20,000.00 990, 000. 00 1, 135, 414. 83 27, 777.69 1, 440, 971. 82 1918 Lump sum.. 938, 609.94 Printing and binding. 37, 182. 56 1922 Lump sum 952, 505. 45 Printing and binding. 22, 801.73 30,000.00 1, 421, 714. 70 1, 998, 665. 58 36, 800.00 1,895, 571.94 43, 353.95 1,950,000.00 46,000.00 2,236,795.00 46,700.00 2,285,500.00 60,000.00 2,373, 822.00 2,237, 705.00 43,000.00 2, 915, 596.92 $90, 442. 05 9,504. 16 379, 927. 41 14,997. 55 448, 890. 66 23, 610. 54 1, 412, 280. 19 11, 114. 06 1,491, 637. 39 14, 934. 21 1,007, 593. 30 28, 348.97 842, 991. 24 37, 182. 56 878, 120. 24 22, 801.73 948, 293. 07 22, 460. 21 960, 020.93 19, 419.25 988, 082.37 19,866. 14 976, 957. 02 18,000.00 943, 881.99 17,000.00 951, 965. 15 16, 500.00 1, 131, 521. 47 27, 777.69 1, 430, 084. 17 35, 363. 58 1,808, 403. 35 39,858.73 1,749, 484. 60 30,000.00 1, 378, 973. 14 1, 850, 673. 82 32, 210. 75 1,917, 307. 50 39,848.47 1,957, 818. 31 39, 728.72 2, 118, 404. 77 33,044.88 2,826,817.64 33, 902.35 2,898, 684.76 53, 957. 43 3,560, 103. 39 36, 401. 16 $93, 574. 18 2, 882. 60 51,036. 67 2.45 93, 135, 26 1, 389. 46 166, 585. 73 18,885. 94 201, 984. 97 0 198, 994. 12 0 95, 618.70 0 74, 385. 21 0 3, 727.04 0 29,979. 07 580.75 1, 917. 63 133.86 13, 042.98 0 36, 118. 01 0 0 58, 612. 59 0 42, 741.56 10,000.00 157.11 0 141, 084. 67 0 209, 935, 82 3,803.95 44, 898. 12 0 54, 480. 35 0 86, 320.60 0 70, 610.93 0 72, 743.76 1,000.00 76,900. 87 18,000.00 136, 921.91 18, 039, 25 122, 742.50 3, 151. 55 58,251.69 3,271. 23 11, 428. 28 10, 955. 12 98, 302. 36 16,097.65 16, 912. 16 1,042, 57 14, 406. 61 10, 123. 84 APPENDIXES FEDERAL TRADE COMMISSION ACT (15 U. S. C., Secs. 41-58) AN ACT To create a Federal Trade Commission, to define its powers and duties, and for other purposes SEC. 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That a commisison is hereby created and established, to be known as the Federal Trade Commisison (hereinafter referred to as the Commission), which shall be composed of five commissioners, who shall be appointed by the President, by and with the advice and consent of the Senate. Not more than three of the commissioners shall be members of the same political party. The first commissioners appointed shall continue in office for terms of three, four, five, six, and seven years, respectively, from the date of the taking effect of this Act, the term of each to be designated by the President, but their successors shall be appointed for terms of seven years, except that any person chosen to fill a vacancy shall be appointed only for the unexpired term of the commissioner whom he shall succeed: Provided, however, That upon the expiration of his term of office a commissioner shall continue to serve until his successor shall have been appointed and shall have qualified. The Commission shall choose a chairman from its own membership. No commissioner shall engage in any other business, vocation, or employment. Any commissioner may be removed by the President for inefficiency, neglect of duty, or malfeasance in office. A vacancy in the Commission shall not impair the right of the remaining commissioners to exercise all the powers of the Commission. The Commission shall have an official seal, which shall be judicially noticed. SEC. 2. That each commissioner shall receive a salary of $10,000 a year,' payable in the same manner as the salaries of the judges of the courts of the United States. The commission shall appoint secretary who shall receive a salary of $5,000 a year,2 payable in like manner, and it shall have authority to employ and fix the compensation of such attorneys, special experts, examiners, clerks, and other employees as it may from time to time find necessary for the proper performance of its duties and as may be from time to time appropriated for by Congress. 1 The salaries of the commissioners were increased to $15,000 a year under the provisions of Public Law 359, 81st Cong., approved October 15, 1949. * The salary of the secretary is controlled by the provisions of the Classification Act of 1923, approved March 4, 1923, 42 Stat. 1488, |