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EXCHANGE OF LETTERS AMENDING THE ECONOMIC COOPERATION AGREEMENT (AS AMENDED) BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF THE FRENCH REPUBLIC SIGNED AT PARIS ON 28 JUNE 1948

9 January 1950

ENTRY INTO FORCE: 9 JANUARY 1950

The Secretary of State to the French Ambassador

DEPARTMENT OF STATE WASHINGTON 

January 9, 1950

EXCELLENCY:

I have the honor to refer to the conversations which have recently taken place between representatives of our two Governments relating to the Economic Cooperation Agreement between the United States of America and France, signed at Paris, on June 28, 1948, to the Interpretative Notes annexed to that Agreement, and to the enactment into law of United States Public Law 47, 81st Congress, amending the Economic Cooperation Act of 1948. I should like to confirm with you that the following are the understandings reached as a result of these conversations:

1. The Government of France has expressed its adherence to the purposes and policies of the Economic Cooperation Act of 1948 as heretofore amended.

2. Whenever reference is made in any of the articles of such Economic Cooperation Agreement to the Economic Cooperation Act of 1948, it shall be construed as meaning the Economic Cooperation Act of 1948 as heretofore amended.

3. The reference in paragraph 2 of Article III of the Economic Cooperation Agreement, to recognition as the property of the Government of the United States of any francs or credits in francs assigned or transferred to it pursuant to section 111 (b) (3) of the Economic Cooperation Act of 1948 as heretofore amended, includes recognition that the Government of the United States will be subrogated to any right, title, claim, or cause of action existing in connection with such francs or credits in francs.

4. The provisions of Article IV, paragraph 4 of the Economic Cooperation Agreement shall be applied to all deposits made pursuant to paragraphs 2 (b) and (c) of that Article without limitation to deposits in respect of assistance furnished under authority of the Foreign Aid Appropriation Act, 1949.

5. It is understood that the time of notification to which reference is made in Article IV, paragraph 2 (c) of the Economic Cooperation Agreement for the purpose of determining the rate of exchange to be used in computing the deposits to be made upon notifications to the Government of France of the indicated dollar costs of commodities, services, and technical information shall, in the case of each notification covering a disbursement period after September 30, 1949, be deemed to be the date of the last day of the disbursement period covered by the notification.

Accept, Excellency, the renewed assurances of my highest consideration.

The French Ambassador to the Secretary of State
 
AMBASSADE DE FRANCE AUX ETATS-UNIS
 
CM/sd

No 11

WASHINGTON, le 9 janvier 1950
 
MONSIEUR LE SECRETAIRE D'ETAT,

Par lettre en date de ce jour, vous avez bien voulu appeler mon attention sur certains amendements a la Loi de Cooperation Economique de 1948.

J'ai l'honneur de vous faire savoir que le Gouvernement francais prend acte des modifications apportees a la legislation des Etats-Unis en matiere de cooperation economique par la Loi no. 47 des Etats-Unis d'Amerique 81eme Congres amendant la Loi de Cooperation Economique de 1948 et que mon Gouvernement n'a pas d'objection, dans l'execution de l'accord bilateral signe a Paris le 26 juin 1948 entre la France et les Etats-Unis d'Amerique, a mettre immediatement en application les dispositions nouvelles indiquees dans votre communication precitee.

Veuillez agreer, Monsieur le Secretaire d'Etat, les assurances de ma tres haute consideration.

Translation

EMBASSY OF FRANCE IN THE UNITED STATES
 
CM/sd
No. 11

WASHINGTON, January 9, 1950
 
MR. SECRETARY OF STATE:

In a letter dated today you have pointed out to me certain amendments to the Foreign Assistance Act of 1948.

I have the honor to inform you that the French Government takes cognizance of the amendments to the laws of the United States with regard to economic cooperation as embodied in Law No. 47 of the 81st Congress of the United States of America, which amends the Foreign Assistance Act of 1948, and that my Government has no objection to the immediate application of the new provisions set forth in your aforementioned communication, in execution of the bilateral agreement signed at Paris on June 26, 1948, between France and the United States of America.

Accept, Excellency, the assurances of my very high consideration.

SIGNATORIES:
DEAN ACHESON
 
His Excellency

HENRI BONNET, French Ambassador.

H BONNET
 
L'Honorable

DEAN ACHESON Secretaire  d'Etat Washington, D. C.

H BONNET
 
His Excellency

DEAN ACHESON Secretary of State Washington, D. C.