Chapter 56. To authorize an additional issue of bonds to meet expenditures for the national security and defense, and, for the purpose of assisting in the prosecution of the war, to extend additional credit to foreign Governments, and for other purposes
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CHAP. 56.— An Act To authorize an additional issue of bonds to meet expenditures for the national security and defense, and, for the purpose of assisting in the prosecution of the war, to extend additional credit to foreign Governments, and for other purposes. September 24, 1917. [[H. R. 5901](/us/bill/65/hr/5901).] [[Public, No. 43](/us/pl/65/43).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, United States securities.
Issue authorized to borrow money for national security, etc. *Post*, pp. 503, 844, 1309. That the Secretary of the Treasury, with the approval of the President, is hereby authorized to borrow, from time to time, on the credit of the United States for the purposes of this Act, and to meet expenditures authorized for the national security and defense and other public purposes authorized by law, not exceeding in the aggregate Additional to prior issue. *Ante*, p. 35.$7,538,945,460, and to issue therefor bonds of the United States, in addition to the $2,000,000,000 bonds already issued or offered for subscription under authority of the Act approved April twenty-fourth, nineteen hundred and seventeen, entitled “An Act to authorize an issue of bonds to meet expenditures for the national security and defense, and, for the purpose of assisting in the prosecution of the war, to extend credit to foreign governments, and for *Proviso*.
Amount in lieu of unissued liberty bonds.other purposes”: *Provided*, That of this sum $3,063,945,460 shall be in lieu of that amount of the unissued bonds authorized by sections one and four of the Act approved April twenty-fourth, nineteen hundred and Panama Canal bonds. Vol. 36, p. 117.seventeen, $225,000,000 shall be in lieu of that amount of the unissued bonds authorized by section thirty-nine of the Act approved August fifth, nineteen hundred and nine, Naval emergency bonds.
Vol. 39, p. 1201.$150,000,000 shall be in lieu of the unissued bonds authorized by the joint resolution approved March fourth, nineteen hundred and March 3, 1917, bonds. Vol. 39, p. 1002.seventeen, and $100,000,000 shall be in lieu of the unissued bonds authorized by section four hundred of the Act approved March third, nineteen hundred and seventeen. Forms, terms, etc., of bonds.The bonds herein authorized shall be in such form or forms and denomination or denominations and subject to such terms and conditions of issue, conversion, redemption, maturities, payment, Interest at 4 per cent.and rate or rates of interest, not exceeding four per centum per annum, and time or times of payment of interest, as the Secretary of the Treasury from time to time at or before the issue thereof Payable in gold.may prescribe.
The principal and interest thereof shall be payable in United States gold coin of the present standard of value. Offer as public loan.The bonds herein authorized shall from time to time first be offered at not less than par as a popular loan, under such regulations, prescribed by the Secretary of the Treasury from time to time, as will in his opinion give the people of the United States as Discretionary allotments to subscribers.nearly as may be an equal opportunity to participate therein, but he may make allotment in full upon applications for smaller amounts of bonds in advance of any date which he may set for the closing of subscriptions and may reject or reduce allotments upon later applications and applications for larger amounts, and may reject or reduce allotments upon applications from incorporated banks and trust companies for their own account and make allotment in full or larger allotments to others, and may establish a graduated scale of allotments, and may from time to time adopt any or all of said methods, should any such action be deemed by *Proviso*.
General rules to apply.him to be in the public interest: *Provided*, That such reduction or increase of allotments of such bonds shall be made under general rules to be prescribed by said Secretary and shall apply to all Disposal of unsubscribed for portion.subscribers similarly situated. And any portion of the bonds so offered and not taken may be otherwise disposed of by the Secretary of the Treasury in such manner and at such price or prices, not less than par, as he may determine.
Sec. 2. Credits to be established with foreign governments at war with United States’ enemies. That for the purpose of more effectually providing for the national security and defense and prosecuting the war, the Secretary of the Treasury, with the approval of the President, is hereby 289authorized, on behalf of the United States, to establish credits with the United States for any foreign governments then engaged in war with the enemies of the United States; and, to the extent of thePurchase of their obligations. credits so established from time to time, the Secretary of the Treasury is hereby authorized to purchase, at par, from such foreign governments respectively their several obligations hereafter issued, bearing such rate or rates of interest, maturing at such date orInterest rates, etc. dates, not later than the bonds of the United States then last issued under the authority of this Act, or of such Act approved*Ante*, p. 35.
April twenty-fourth, nineteen hundred and seventeen, and containing such terms and conditions as the Secretary of the Treasury may from time to time determine, or to make advances to or forAdvances authorized tor obligations. the account of any such foreign governments and to receive such obligations at par for the amount of any such advances: but the rateInterest to equal highest rates of United States bonds. or rates of interest borne by any such obligations shall not be less than the highest rate borne by any bonds of the United States which, at the time of the acquisition thereof, shall have been issued under authority of said Act approved April twenty-fourth, nineteen*Ante*, p. 35. hundred and seventeen, or of this Act, and any such obligationsConversion provisions. shall contain such provisions as the Secretary of the Treasury may from time to time determine for the conversion of a proportionate part of such obligations into obligations bearing a higher rate of interest if bonds of the United States issued under authority of this Act shall be converted into other bonds of the United States bearing a higher rate of interest, but the rate of interest in suchInterest. foreign obligations issued upon such conversion shall not be less than the highest rate of interest borne by such bonds of the United States; and the Secretary of the Treasury with the approval of theArrangement for payments, etc.
President, is hereby authorized to enter into such arrangements from time to time with any such foreign Governments as may be necessary or desirable for establishing such credits and for the payment of such obligations of foreign Governments before maturity. For the purposes of this section there is appropriated, out of anyAppropriation. *Post*, pp. 504, 844. money in the Treasury not otherwise appropriated, the sum of $4,000,000,000, and in addition thereto the unexpended balance of the appropriations made by section two of said Act approved April*Ante*, p. 35. twenty-fourth, nineteen hundred and seventeen, or so much thereof as may be necessary:*Provided*, That the authority granted by this*Proviso*.
Authority to cease at end of war with Germany. section to the Secretary of the Treasury to establish credits for foreign Governments, as aforesaid, shall cease upon the termination of the war between the United States and the Imperial German Government. Sec. 3. That the Secretary of the Treasury is hereby authorized,Conversion of foreign obligations into higher Interest rates, etc., authorized. from time to time, to exercise in respect to any obligations of foreign governments acquired under authority of this Act or of said Act approved April twenty-fourth, nineteen hundred and seventeen, any privilege of conversion into obligations bearing interest at a higher rate provided for in or pursuant to this Act or said Act approved April twenty-fourth, nineteen hundred and seventeen, and toShort time into long time. convert any short-time obligations of foreign governments which may have been purchased under the authority of this Act or of said Act approved April twenty-fourth, nineteen hundred and seventeen, into long-time obligations of such foreign governments, respectively, maturing not later than the bonds of the United States then last issued under the authority of this Act or of said Act approved April twenty-fourth, nineteen hundred and seventeen, as the case may be, and in such form and terms as the Secretary of the Treasury may prescribe; but the rate or rates of interest borne by any such longtimeEquality of rates. obligations at the time of their acquisition shall not be less than the rate borne by the short-time obligations so converted into such 290Redemption of designated United States bends from sales or payments of foreign.long-time obligations; and, under such terms and conditions as he may from time to time prescribe, to receive payment, on or before maturity, of any obligations of such foreign governments acquired on behalf of the United States under authority of this Act or of said Act approved April twenty-fourth, nineteen hundred and seventeen, and, with the approval of the President, to sell any of such obligations (but not at less than the purchase price with accrued interest unless otherwise hereafter provided by law), and to apply the proceeds thereof, and any payments so received from foreign governments on account of the principal of their said obligations, to the redemption *Ante*, pp. 35, 36.or purchase, at not more than par and accrued interest, of any bonds of the United States issued under authority of this Act or of said Act approved April twenty-fourth, nineteen hundred and seventeen;
Other outstanding obligations.and if such bonds can not be so redeemed or purchased the Secretary of the Treasury shall redeem or purchase any other outstanding interest-bearing obligations of the United States which may at such time be subject to redemption or which can be purchased at not more than par and accrued interest. Sec. 4. Convertible bonds authorized. *Post*, p. 504. That in connection with the issue of any series of bonds under the authority of section one of this Act the Secretary of the Treasury may determine that the bonds of such series shall be convertible as provided in or pursuant to this section, and, in any such case, he may make appropriate provision to that end in offering for subscription the bonds of such series (hereinafter called convertible Exchange by holder for subsequent issues at higher rates.bonds).
In any case of the issue of a series of convertible bonds, if a subsequent series of bonds (not including United States certificates of indebtedness, war savings certificates, and other obligations maturing not more than five years from the issue of such obligations, respectively) bearing interest at a higher rate shall, under the authority of this or any other Act, be issued by the United States before the termination of the war between the United States and the Imperial German Government, then the holders of such convertible bonds shall have the privilege, at the option of the several holders, at any time within such period, after the public offering of bonds of such subsequent series, and under such rules and regulations as the Secretary of the Treasury shall have prescribed, of converting their bonds, at par, into bonds bearing such higher rate of interest at such price not less than par as the Secretary of the Treasury shall have Similar forms, terms, tax exemptions, etc.prescribed.
The bonds to be issued upon such conversion under this Act shall be substantially the same in form and terms as shall be prescribed by or pursuant to law with respect to the bonds of such subsequent series, not only as to interest rate but also as to convertibility (if future bonds be issued at a still higher rate of interest) or nonconvertibility, and as to exemption from taxation, if any, and in all other respects, except that the bonds issued upon such conversion shall have the same dates of maturity, of principal, and of interest, and be subject to the same terms of redemption before maturity, as the bonds converted; and such bonds shall be issued from time to time if and when and to the extent that the privilege Termination of privilege if not availed of. *Post*, p. 1311.of conversion so conferred shall arise and shall be exercised.
If the privilege of conversion so conferred under this Act shall once arise, and shall not be exercised with respect to any convertible bonds within the period so prescribed by the Secretary of the Treasury, then such privilege shall terminate as to such bonds and shall not arise again though again thereafter bonds be issued bearing interest at a higher rate or rates. Sec. 5. Certificates of indebtedness. Issue authorized to borrow money for public expenditures, etc. That in addition to the bonds authorized by section one of this Act the Secretary of the Treasury is authorized to borrow from time to time, on the credit of the United States, for the purposes of this Act and to meet public expenditures authorized by law, such 291sum or sums as in his judgment may be necessary, and to issue therefor certificates of indebtedness of the United States at not less than par in such form or forms and subject to such terms and conditions and at such rate or rates of interest as he may prescribe; and each certificate so issued shall be payable at such time notPayable within one year. exceeding one year from the date of its issue, and may be redeemable before maturity upon such terms and conditions, and the interest accruing thereon shall be payable at such time or times as the Secretary of the Treasury may prescribe.
The sum of such certificatesLimit of, and of prior issue. *Ante*, p. 36. *Post*, pp. 504, 1311. outstanding hereunder and under section six of said Act approved April twenty-fourth, nineteen hundred and seventeen, shall not at any one time exceed in the aggregate $4,000,000,000. Sec. 6. That in addition to the bonds authorized by section one ofWar-savings certificates. Issue authorized to borrow money for public expenses. this Act and the certificates of indebtedness authorized by section five of this Act, the Secretary of the Treasury is authorized to borrow from time to time, on the credit of the United States, for the purposes of this Act and to meet public expenditures authorized by law, such sum or sums as in his judgment may be necessary, and to issue therefor, atConditions, interest, etc. such price or prices and upon such terms and conditions as he may determine, war-savings certificates of the United States on which interest to maturity may be discounted in advance at such rate or rates and computed in such manner as he may prescribe.
Such war-savingsForms, payment, etc. certificates shall be in such form or forms and subject to such terms and conditions, and may have such provisions for payment thereof before maturity, as the Secretary of the Treasury may prescribe. Each war-saving certificate so issued shall be payable at suchPayable within five years. time, not exceeding five years from the date of its issue, and may be redeemable before maturity, upon such terms and conditions as the Secretary of the Treasury may prescribe.
The sum of such war-savingsAggregate allowed. *Post*, p. 966. certificates outstanding shall not at any one time exceed in the aggregate $2,000,000,000. The amount of war-savings certificates Limit to one person.sold to any one person at any one time shall not exceed $100, and it shall not be lawful for any one person at any one time to hold war-savings certificates to an aggregate amount exceeding $1,000. The SecretaryStamps to show payments. of the Treasury may, under such regulations and upon such terms and conditions as he may prescribe, issue, or cause to be issued, stamps to evidence payments for or on account of such certificates.
Sec. 7. That none of the bonds authorized by section one, nor of theNo circulation privileges to bonds, etc. certificates authorized by section five, or by section six, of this Act, shall bear the circulation privilege. All such bonds and certificatesGeneral tax exemptions. *Post*, p. 966. shall be exempt, both as to principal and interest from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority, except
(a)estate or inheritance taxes, and
(b)graduated additionalExceptions. *Post*, pp. 301, 302, 324. income taxes, commonly known as surtaxes, and excess profits and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, associations, or Exemption of $5,000.corporations. The interest on an amount of such bonds and certificates the principal of which does not exceed in the aggregate $5,000, owned by any individual, partnership, association, or corporation, shall be exempt from the taxes provided for in subdivision
(b)of this section. Sec. 8. That the Secretary of the Treasury, in his discretion, isProceeds to be deposited in banks, etc. *Post*, p. 504. hereby authorized to deposit, in such incorporated banks and trust companies as he may designate, the proceeds, or any part thereof, arising from the sale of the bonds and certificates of indebtedness andInterest. war-savings certificates authorized by this Act, and such deposits shall bear such rate or rates of interest, and shall be secured in such manner, and shall be made upon and subject to such terms and conditions, as 292*Proviso*.Reserves not required for public money deposits.[R. S., sec. 5191, p. 1004](/us/rs/s5191/p1004).Vol. 38, p. 682.the Secretary of the Treasury may from time to time prescribe: *Provided*, That the provisions of section fifty-one hundred and ninety-one of the Revised Statutes, as amended by the Federal Reserve Act, and the amendments thereof, with reference to the reserves required to be kept by national banking associations and other member banks of the Federal Reserve System, shall not apply to deposits of public moneys Depositaries abroad tor disbursements for armed forces, etc.by the United States in designated depositaries. The Secretary of the Treasury is hereby authorized to designate depositaries in foreign countries, with which shall be deposited all public money which it may be necessary or desirable to have on deposit in such countries to provide for current disbursements to the military and naval forces of the United States and to the diplomatic and consular and other Termination, etc.representatives of the United States in and about such countries until six months after the termination of the war between the United States and the Imperial German Government, and to prescribe the terms and conditions of such deposits. Sec. 9. Postal employees. Disposal of bonds, etc., by. That in connection with the operations of advertising, selling, and delivering any bonds, certificates of indebtedness, or war-savings certificates of the United States provided for in this Act, the Postmaster General, under such regulations as he may prescribe, shall require, at the request of the Secretary of the Treasury, the employees of the Post Office Department and of the Postal Service to perform such services as may be necessary, desirable, or practicable, without extra compensation. Sec. 10. Appropriation for expenses of issue, etc. Limitations. That in order to pay all necessary expenses, including rent, connected with any operations under this Act, except under section twelve, a sum not exceeding one-fifth of one per centum of the amount of bonds and war-saving certificates and one-tenth of one per centum of the amount of certificates of indebtedness herein authorized is hereby appropriated, or as much thereof as may be necessary, out of any money in the Treasury not otherwise appropriated, to be *Proviso*. Statement to Congress.expended as the Secretary of the Treasury may direct: *Provided*, That m addition to the reports now required by law, the Secretary of the Treasury shall, on the first Monday in December, nineteen hundred and eighteen, and annually thereafter, transmit to the Congress a detailed statement of all expenditures under this Act. Sec. 11. Further issue of former bonds restricted. *Ante*, pp. 35, 36. That bonds shall not be issued under authority of sections one and four of said Act approved April twenty-fourth, nineteen hundred and seventeen, in addition to the $2,000,000,000 thereof For interchange, conversion, etc., allowed.heretofore issued or offered for subscription, but bonds shall be issued from time to time upon the interchange of such bonds of different denominations and of coupon and registered bonds and upon the transfer of registered bonds, under such rules and regulations as the Secretary of the Treasury shall prescribe, and, if and to the extent that the privilege of conversion provided for in such bonds shall arise and shall be exercised, in accordance with such provision for such conversion. Issues rescinded. *Ante*, p. 36.No bonds shall be issued under authority of the several sections of Acts and of the resolution mentioned in said section four of the Act Present authorization substituted therefor.approved April twenty-fourth, nineteen hundred and seventeen; but the proceeds of the bonds herein authorized may be used for purposes mentioned in said section four of the Act of April twenty-fourth, nineteen hundred and seventeen, and as set forth m the Acts therein enumerated. United States securities. Vol. 36, p. 192, amended.That section two of an Act of Congress approved February fourth, nineteen hundred and ten, entitled “An Act prescribing certain provisions and conditions under which bonds and certificates of indebtedness of the United States may be issued, and for other purposes,” is hereby amended to read as follows: 293 " “Sec. 2. That any certificates of indebtedness hereafter issuedCertificates of indebtedness. Exemption from taxes, modified. shall be exempt from all taxes or duties of the United States (but, in the case of certificates issued after September first, nineteen hundred and seventeen, only if and to the extent provided in connection with the issue thereof), as well as from taxation in any form by or under State, municipal, or local authority; and that aAppropriation for expenses of issue, etc., re. sum not exceeding one-tenth of one per centum of the amount of any certificates of indebtedness issued is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to pay the expenses of preparing, advertising, and issuing the same.” " Sec. 12. That the Secretary of the Treasury is authorized duringMilitary accounts. Provisions for auditing, etc., abroad. the war, whenever it shall appear that the public interests require that any of the accounts of the Military Establishment be audited at any place other than the seat of Government, to direct the Comptroller of the Treasury and the Auditor for the War Department to exercise, either in person or through assistants, the powers and perform the duties of their offices at any place or places away from the seat of Government in the manner that is or may be required by law at the seat of Government and in accordance with the provisions of this section.
(a)That when the Secretary of the Treasury shall exercise theComptroller and Auditor. Powers and duties of may be exercised abroad. Vol. 28, p. 205. authority herein referred to, the powers and duties of the said comptroller and auditor, under and pursuant to the provisions of the Act of July thirty-first, eighteen hundred and ninety-four, and all other laws conferring jurisdiction upon those officers, shall be exercised and performed in the same manner as nearly as practicable and with the same effect away from the seat of Government as they are now exercised and performed and have effect at the seat of Government, and decisions authorized by law to be rendered by theDecisions of Comptroller by assistants, effective. comptroller at the request of disbursing officers may be rendered with the same effect by such assistants as may be authorized by him to perform that duty.
(b)That when pursuant to this section the said comptroller andBalances certified from abroad conclusive. Vol. 28, p. 207. auditor shall perform their duties at a place in a foreign country, the balances arising upon the settlement of accounts and claims of the Military Establishment shall be certified by the auditor to the Division of Bookkeeping and Warrants of the Treasury Department as now provided for the certification of balances by said auditor in Washington, and the balances so found due shall be final and conclusive upon all branches of the Government, except that any person whose account has been settled or the commanding officer of the Army abroad, or the comptroller may obtain a revisionRevision allowed. of such settlement by the comptroller upon application therefor within three months, the decision to be likewise final and conclusive and the differences arising upon such revision to be certified to and stated by the auditor as now provided by law: *Provided*, That*Provisos*. Payment on certificates. certificates of balances due may be transmitted to and paid by the proper disbursing officer abroad instead of by warrant: *Provided further*, That any person whose account has been settled, or theReexamination, etc., after the war. Secretary of War, may obtain a reopening and review of any settlement made pursuant to this section upon application to the Comptroller of the Treasury in Washington within one year after the close of the war, and the action of the comptroller thereon shall be final and conclusive in the same manner as herein provided in the case ofAction of Comptroller final. a balance found due by the auditor.
(c)That the comptroller and auditor shall preserve the accounts,Preservation of accounts, etc., abroad until end of war, etc. and the vouchers and papers connected therewith, and the files of their offices in the foreign country and transmit them to Washington within six months after the close of the war and at such earlier time as may be directed by the Secretary of the Treasury as to any or all accounts, vouchers, papers, and files. 294
(d)Assistant Comptroller and Assistant Auditor Co be appointed. That the Secretary of the Treasury is authorized to appoint an assistant comptroller and an assistant auditor and to fix their compensation, and to designate from among the persons to be employed hereunder one or more to act in the absence or disability Employees, number, pay, etc.of such assistant comptroller and assistant auditor. He shall also prescribe the number and maximum compensation to be paid to agents, accountants, clerks, translators interpreters, and other Settlement of accounts by Assistants authorized.persons who may be employed in the work under this section Civil service laws, etc., not applicable to employees abroad.by the comptroller and auditor. The assistant comptroller and assistant auditor shall have full power to perform in a foreign country all the duties with reference to the settlement there of the accounts of the Military Establishment that the comptroller and auditor now have at the seat of Government and in foreign countries under the provisions of this section, and shall perform such duties in accordance with the instructions received from and rules and regulations made by the comptroller and auditor. Such persons as are residing in a foreign country when first employed hereunder shall not be required to take an oath of office or be required to be employed pursuant to the laws, rules, and regulations relating to the classified civil service, nor shall they be reimbursed for subsistence expenses at their post of duty or for expenses in traveling to or from the United States.
(e)Officials to examine records, receipts, disbursements, etc. That it shall be the duty of all contracting, purchasing, and disbursing officers to allow any representative of the comptroller or auditor to examine all books, records, and papers in any way connected with the receipt, disbursement, or disposal of public money, and to render such accounts and at such times as may be required Administrative examination by War Department waived. Vol. 28, p. 211.by the comptroller. No administrative examination by the War Department shall be required of accounts rendered and settled abroad, and the time within which these accounts shall be rendered by disbursing officers shall be prescribed by the comptroller, who shall have power to waive any delinquency as to time or form in the Contracts to be filled abroad.rendition of these accounts. All contracts connected with accounts to be settled by the auditor abroad shall be filed in his office there.
(f)Restoration of employees to former positons. That any person appointed or employed under the provisions of this section who at the time is in the service of the United States shall, upon termination of his services hereunder, be restored to the Details from Washington permitted. Vol. 39, p. 1121.position held by him at the time of such employment. No provision of existing law shall be construed to prevent the payment of money appropriated for the salary of any Government officer or employee at the seat of Government who may be detailed to perform duty under this section outside the District of Columbia, and such details are hereby authorized.
(g)Appropriation for expenses of auditing, etc., abroad. That for the payment of the expenses in carrying into effect this section, including traveling expenses, per diem of $4 in lieu of subsistence for officers and employees absent from Washington, rent, cablegrams and telegrams, printing, law books, books of reference, periodicals, stationery, office equipment and exchange thereof, supplies, and all other necessary expenses, there is hereby appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending June thirtieth, nineteen hundred and eighteen, the sum Allowance at Washington.of $300,000, of which not exceeding $25,000 may be expended at Washington for the purpose of this section, but no officer or employee Pay restriction.shall receive for duty in Washington any compensation other than his regular salary.
(h)Two disbursing agents authorized. That the Secretary of the Treasury may designate not more than two persons employed hereunder to act as special disbursing Settlement of accounts.agents of the appropriation herein, to serve under the direction of the comptroller, and their accounts shall be rendered to and settled by the accounting officers of the Treasury in Washington. All persons employed under this section shall perform such additional duties as the Secretary of the Treasury may direct. 295
(i)That the comptroller and the auditor, and such persons as mayAdministration of oaths, etc. be authorized in writing by either of them, may administer oaths to American citizens in respect to any matter within the jurisdiction of either of said officers and certify the official character, when known, of any foreign officer whose jurat or certificate may be necessary on any paper to be filed with them.
(j)That persons engaged in work abroad under the provisions ofEmployees may purchase Army stores while abroad. this section may purchase from Army stores for cash and at cost price for their own use such articles or stores as may be sold to officers and enlisted men.
(k)That the authority granted under this section shall terminateAuthority to terminate after close of war. six months after the close of the war or at such earlier date as the Secretary of the Treasury may direct, and it shall be the duty of the comptroller and auditor to make such reports as the Secretary of the Treasury may require of the expenditures made and work done pursuant to this section, and such reports shall be transmitted toReports to Congress. the Congress at such time as he may decide to be compatible with the public interest.
(l)No officers, employees, or agents appointed or employed underLimitation of salaries. this section shall receive more salary or compensation than like officers, employees, or agents of the Government now receive. Sec. 13. That for the purposes of this Act the date of the terminationDate of termination of war to be fixed by proclamation. of the war between the United States and the Imperial German Government shall be fixed by proclamation of the President of the United States. Approved, September 24, 1917.