CONGRESS SECOND LIBERTY-BOND ACT AMENDMENTS. SEPTEMBER 23, 1918.-Ordered to be printed. Mr. KITCHIN, from the committee of conference, submitted the following CONFERENCE REPORT. [To accompany H. R. 12923.] The committee of conference on the disagreeing votes of the two Houses on the amendments of the Senate to the bill (H. R. 12923) to supplement the second liberty-bond act, as amended, and for other purposes, having met, after full and free conference have agreed to recommend and do recommend to their respective Houses as follows: That the Senate recede from its amendments numbered 4, 5, 6, 7, and 8. That the House recede from its disagreement to the amendments of the Senate numbered 1 and 2, and agree to the same. Amendment numbered 3: That the House recede from its diagreement to the amendment of the Senate numbered 3, and agree to the same with an amendment as follows: In lieu of the matter stricken out by said amendment insert the following: SEC. 5. That subdivision (b) of section 5 of the trading-with-theenemy act be, and hereby is, amended to read as follows: "(b) That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange and the export, hoarding, melting, or earmarkings of gold or silver coin or bullion or currency transfers of credit in any form (other than credits relating solely to transactions to be executed wholly within the United States), and transfers of evidences of indebtedness or of the ownership of property between the United States and any foreign country, whether enemy, ally of enemy, or otherwise, or between residents of one or more foreign countries, by any person within the United States; and for the purpose of strengthening, sustaining, and broadening the market for bonds and certificates of indebtedness of the United States, of preventing frauds upon the holders thereof, and of protecting such holders, he may investigate and regulate, by means of licenses or otherwise (until the expiration of two years after the date of the termination of the present war with the Imperial German Government, as fixed by his proclamation), any transaction in such bonds or certificates by or between any person or persons: Provided, That nothing contained in this subdivision (b) shall be construed to confer any power to prohibit the purchase or sale for cash, or for notes eligible for discount at any Federal reserve bank, of bonds or certificates of indebtedness of the United States; and he may require any person engaged in any transaction referred to in this subdivision to furnish, under oath, complete information relative thereto including the production of any books of account, contracts, letters or other papers, in connection therewith in the custody or control of such person, either before or after such transaction is completed." And the Senate agree to the same. CLAUDE KITCHIN, J. HAMPTON MOORE, Managers on the part of the House. HOKE SMITH, H. C. LODGE, Managers on the part of the Senate. STATEMENT OF THE MANAGERS ON THE PART OF THE HOUSE. The managers on the part of the House at the conference on the disagreeing votes of the two Houses on the amendments of the Senate to the bill (H. R. 12923) to supplement the second liberty-bond act, as amended, and for other purposes, submit the following written statement in explanation of the effect of the action agreed upon by the conferees and recommended in the accompanying conference report: Amendment No. 1: This amendment is merely a clerical change; and the House recedes. Amendment No. 2: This amendment is also a clerical change; and the House recedes. Amendment No. 3: The bill as it passed the House amended the trading-with-the-enemy act by giving the President authority to investigate, regulate, or prohibit any transaction in bonds or certificates of indebtedness of the United States and the hoarding and melting of gold. The Senate eliminated this provision. The House recedes from its disagreement to the Senate amendment with an amendment giving the President the authority to investigate, regulate, or prohibit the hoarding or melting of gold, and also to investigate and regulate, by means of license or otherwise (until the expiration of two years after the termination of the present war), for the purpose of strengthening, sustaining, and broadening the market for bonds and certificates of indebtedness of the United States, or preventing frauds upon the holders thereof, and of protecting such holders, any transactions in bonds or certificates of indebtedness of the United States by or between any person or persons. However, this power is limited so that this section shall not be construed to confer any power to prohibit the purchase or sale for cash, or for notes eligible for discount at any Federal reserve bank, of bonds or certificates of indebtedness of the United States. Amendment No. 4: This amendment is merely a change in section number; and the Senate recedes. Amendments Nos. 5, 6, and 7: The Senate recedes from its amendments to section 5200 of the Revised Statutes, thereby restoring the House provision. Amendment No. 8: This amendment is merely a change in section number; and the Senate recedes. CLAUDE KITCHIN, J. W. FORDNEY, J. HAMPTON MOORE, Managers on the part of the House. 3 О PURCHASE OF DRY DOCK AT BOSTON, MASS. SEPTEMBER 24, 1918.-Committed to the Committee of the Whole House on the state of the Union and ordered to be printed. Mr. PADGETT, from the Committee on Naval Affairs, submitted the following REPORT. [To accompany H. R. 12982.] The Committee on Naval Affairs to whom was referred the bill (H. R. 12982) to authorize the Secretary of the Navy to purchase from the Commonwealth of Massachusetts a large dry dock and appurtenant lands, having had the same under consideration, report the same back to the House without amendment with the recommendation that the bill do pass. The bill authorizes the Secretary of the Navy to contract with the Commonwealth of Massachusetts for the purchase of a large dry dock which is now under construction by the Commonwealth of Massachusetts, together with the land adjacent thereto necessary for the proper utilization of said dock, and appropriates $4,550,000 for the payment of the dock and the land. The bill also authorizes the expenditure of $350,000 out of the above sum in order to expedite the construction and completion of the dock with a view to its completion by January 1, 1919, or not later than February 1, 1919. This dock, when completed, will be large enough to accommodate the largest vessels afloat, and for that reason is very much needed and desired by the Navy Department and the Secretary of the Navy, as there is no very large dock at this time north of Philadelphia. În order to utilize all its space when docking smaller vessels the dock is divided into two separate compartments which can be used independently of each other or thrown together. The contract for this dock was let by the Commonwealth of Massachusetts in 1915, when prices were considerably lower than at the present time, and should this bill be enacted into law the Navy Department would receive the benefit of this early contract. It is estimated that it would cost appro imately $1,000,000 more to construct this dock at this time than to purchase it from the Commonwealth of Massachusetts. HR-65-2-vol 2-61 |