57 STAT.] 78TH CONG. , 1ST SESS.-CH. 52-APR. 11, 1943 [CHAPTER 52] AN ACT To increase the debt limit of the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the Public Debt Act of 1943. SEC. 2 . Section 21 of the Second Liberty Bond Act, as amended, is further amended to read as follows: "SEC. 21. The face amount of obligations issued under the authority of this Act shall not exceed in the aggregate $210,000,000,000 out- standing at any one time." SEC. 3 . Section 22 of the Second Liberty Bond Act, as amended, is further amended by adding at the end thereof the following subsections: "(h) The Secretary of the Treasury, under such regulations as he may prescribe, may authorize or permit payments in connection with the redemption of savings bonds to be made by incorporated banks and trust companies. "(i) Any losses resulting from payments made in connection with the redemption of savings bonds shall be replaced out of the fund established by the Government Losses in Shipment Act, as amended, under such regulations as may be prescribed by the Secretary of the Treasury. The Treasurer of the United States, any Federal Reserve bank, or any incorporated bank or trust company authorized or permitted to make payments in connection with the redemption of such bonds, shall be relieved from liability to the United States for such losses, upon a determination by the Secretary of the Treasury that such losses resulted from no fault or negligence on the -part of the Treasurer, the Federal Reserve bank, or the incorporated bank or trust company. The Post Office Department or the Postal Service shall be relieved from such liability upon a joint determination by the Postmaster General and the Secretary of the Treasury that such losses resulted from no fault or negligence on the part of the Post Office Department or the Postal Service. The provisions of section 3 of the Government Losses in Shipment Act, as amended, with respect to the finality of decisions by the Secretary of the Treasury shall apply to the determinations made pursuant to this subsection. All recoveries and repayments on account of such losses, as to which replacement shall have been made out of the fund, shall be credited to it and shall be available for the purposes thereof. The Secretary of the Treasury shall include in his annual report to the Congress a statement of all payments made from the fund pursuant to this subsection." SEC. 4. (a) Section 4 of the Act approved October 2, 1942, entitled "An Act to amend the Emergency Price Control Act of 1942, to aid in preventing inflation and for other purposes" (Public Law 729 of the Seventy-seventh Congress), is hereby amended, effective as of October 2, 1942, to read as follows: "SEC 4. No action shall be taken under authority of this Act with respect to wages or salaries, (1) which is inconsistent with the pro- visions of the Fair Labor Standards Act of 1938, as amended, or the National Labor Relations Act, or (2) for the purpose of reducing wages or salaries for any particular work below the highest wages or salaries paid therefor between January 1, 1942, and September 15, 1942." (b) (1) Section 7 of title II and all other provisions of Executive Order Numbered 9250, "Providing for the stabilization of the national economy" issued October 3, 1942, and all provisions of Regulation Numbered 4001.9, promulgated by the Economic Stabilization April 11, 1943 [H. R . 1780] [Public Law 34] Public Debt Act of 1943. 49 Stat. 21 . 31 U. S. C., Bupp. II, I 757b. Limitation on obli- gations. 49 Stat. 21 . 31 U. S. C., Supp. II, I 757c. Redemption of sav ings bonds. Replacement of losses. 50 Stat. 479 . 5U. S. C. 5134a. Release from lia- bility. Decisions of Secre- tary of Treasury. 50 Stat. 479 . 5 U.S . C.. 134b. Annual statement. Wages and salaries. Limitations on con- trol. 56 Stat. 766 . 50 U. S. C., Supp. II, app. I 964. 52 Stat. 1060 . 29 U.S. C. II 201- 219; Supp. II, ch. 8 . 49 Stat. 449. 29 U.. . C. i 151- 166. 7 F. R. 7873. 50 U.. C.. Supp. II app. § 901 note. 7 F. R. 87S0.
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