Seventy-third Congress of the Gnited States of Bmerica; AU the First Session, ‘Begun and a the City f Washington on Thoreday, te ninth day of March, one thouand nine hundred and tiey-thee. AN ACT. "To encourage national industrial recovery, to foster fair competi- tion, and to provide for the construction of certain useful public, ‘works, en for other purpeses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, ‘THTLE INDUSTRIAL RECOVERY Sueomox 1. A national emergency productive of widespread umem- ployment and disorganization of industry, which burdens interstate ‘and foreign commerce, affects the public wolfare, and undermines the standards of living of the Amevican people, is hereby declared toexit, tis here declared to be the policy of Congress to remove obstructions to the free flow of interstate and foreign commerce ‘which tend to diminish the amount thereots and to provide forthe zenceal welfare by promoting the organization of industry for the purpose of cooperative action among trade groupe, to induce and maintain united action of labor and management under adequate governmental snnetions and supervision, to eliminate unfair competi- tive practices, to promote the fullist possible utilization of the prosnt productive capacity of industries, to avoid undue restrition of production (except as may be temporarily required), to increase ‘the consumption of industrial and agricultural products by increas. ing purchasing power, to reduce and relieve unemployment, to Improve standards of Isbor, and otherwise to rohebilitate industry and to conserve natural resourees Suc, 2, (a) ‘To effectuate the poliey of this tite, tho Prosident is Iereby authorized to establish such agencies, to accept and utilize ‘such voluntary and uncompensated services, to appoint, without regard to the provisions of the civil sorvice Iaws, seh offers and employees, and to utile sich Federal officers and employees, ands swith the consent of the State such State and Local offers and em: pleyees, as he may find necessary, to preseriby their authorities, ties, responsibilities, and tenure, and, without regard to the Cl f y Pravin SZ. JUN 16 1933 \eey \TLR 570599 TITLE 11I—AMENDMENTS TO EMERGENCY RELIEF AND CONSTRUCTION ACT AND MISCELLANEOUS PROVISIONS S01. After the expiration of ten days after the date upon which the Administrator has qualifed and taken offce, (1) 0 application shall be approved by the Reconstruction Finance Cor- poration under the provisions of subsection (a) of section 201 of the Emergency Relief and Construction Act of 1982, as amended, and (2) the Administrator shall have acces to all applications files, and ecoris of the Reconstruction Finance Corporation relating to loans and contracts and the administration of funds under such subsee- tion: Provided, That the Reconstruction Finance Corporation may swe funds to a borrower under such subsecti (a) prior to January 23, 1990, under the terms of any agreement or any commitment ‘to bid upon or purchase bonds entered into with such borrower par- ssuant to an application approved prior to the date of termination, under this section, of the power of the Reconstruction Finance Cor- porn on to approve applications ‘Ste, 302, The amount of notes, debentures, bonds, or other se ‘obligations which the Reconstruction Finance Corporation is author- ied and empowered under section 9 of the Reconstruction Finance Corporation Act, as amended, to have outstanding at Aecreased by $00,000,000 Seo, 808, If any provision of this Act, or the application thereof to any person or circumstances, is eld invalid, the remainder of the Act, and the application of such provision to other persons oF ireumstances, shall not be affeted thereby. See, 804, This Act may be cited as the “National Industrial Recovery Act” Uifrnvrd ay i, Iprar 16 1953 ee ‘Sh Fale Vice President of the United States and Linh, J Reaeoevel™ Prat of fe Sete 7 esas