Defense Production Act of 1950
To establish a system of priorities and allocations for materials and facilities, authorize the requisitioning thereof, provide financial assistance for expansion of productive capacity and supply, provide for price and wage stabilization, provide for the settlement of labor disputes, strengthen controls over credit, and by these measures facilitate the production of goods and services necessary for the national security, 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, divided into titles, may be cited as ``the Defense Production Act of 1950´´.
Table of Contents
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Sec. 2. Declaration of Policy.
- It is the policy of the United States to oppose acts of aggression and to promote peace by insuring respect for world law and the peaceful settlement of differences among nations. To that end this government is pledged to support collective action through the United Nations and through regional arrangements for mutual defense in conformity with the Charter of the United Nations. The United States is determined to develop and maintain whatever military and economic strength is found to be necessary to carry out this purpose. Under present circumstances, this task requires diversion of certain materials and facilities from civilian use to military and related purposes. It requires expansion of productive facilities beyond the levels needed to meet the civilian demand. In order that this diversion and expansion may proceed at once, and that the national economy may be maintained with the maximum effectiveness and the least hardship, normal civilian production and purchases must be curtailed and redirected.
- It is the objective of this Act to provide the President with authority to accomplish these adjustments in the operation of the economy. It is the intention of the Congress that the President shall use the powers conferred by this Act to promote the national defense, by meeting, promptly and effectively, the requirements of military programs in support of our national security and foreign policy objectives, and by preventing undue strains and dislocations upon wages, prices, and production or distribution of materials for civilian use, within the framework, as far as practicable, of the American system of competitive enterprise.
Approved September 8, 1950.
- H.R. 9176, (S. 3936)
- HOUSE REPORTS:
- No. 81-2759 (Comm. on Banking and Currency)
- No. 81-3042 (Comm. of Conference)
- SENATE REPORTS:
- No. 81-2250 accompanying S. 3936 (Comm. on Banking and Currency)
- CONGRESSIONAL RECORD, Vol. 96 (1950):
- Aug. 1, considered in House.
- Aug. 10, considered and passed House.
- Aug. 7, S. 3936 considered in Senate.
- Aug. 15, considered and passed Senate, amended, in lieu of S. 3936
- Sept. 1, Senate agreed to conference report.
- Sept. 1, House agreed to conference report.
- HOUSE REPORTS:
- Generally codified, in part and as amended, under § 2061 of Appendix to Title 50. See Edition for original text.