52 STAT.] 75TH CONG., 3D SESS.-CH. 55 -MAR . 28 , 1938 OFFICE OF THE SECRETARY Salaries: Secretary of the Treasury, Under Secretary of the Treasury, three Assistant Secretaries of the Treasury, and other per- sonal services in the District of Columbia, including the temporary employment of experts, $230,000: Provided, That in expending appropriations or portions of appropriations contained in this Act for the payment of personal services in the District of Columbia in accordance with the Classification Act of 1923, as amended, with the exception of the Assistant Secretaries of the Treasury and the Assist- ant Postmasters General, the average of the salaries of the total num- ber of persons under any grade in any bureau, office, or other appro- priation unit shall not at any time exceed the average of the com- pensation rates specified for the grade by such Act, as amended, and in grades in which only one position is allocated the salary of such position shall not exceed the average of the compensation rates for the grade, except that in unusually meritorious cases of one position in a grade advances may be made to rates higher than the average of the compensation rates of the grade, but not more often than once in any fiscal year, and then only to the next higher rate: Provided further, That this restriction shall not apply (1) to grades 1, 2, 3, and 4 of the clerical-mechanical service, (2) to require the reduction in salary of any person whose compensation was fixed, as of July 1, 1924, in accordance with the rules of section 6 of such Act, (3) to require the reduction in salary of any person who is transferred from one position to another position in the same or different grade in the same or a different bureau, office, or other appropriation unit, (4) to prevent the payment of a salary under any grade at a rate higher than the maximum rate of the grade when such higher rate is permitted by the Classification Act of 1923, as amended, and is specifically authorized by other law, or (5) to reduce the compensa- tion of any person in a grade in which only one position is allocated. Old-age reserve account, Social Security Act: For an amount suffi- cient as an annual premium for the payments required under title II of the Social Security Act, approved August 14, 1935 (42 U. S. C. 401), and authorized to be appropriated to the old-age reserve account established under section 201 (a) of the Act, $360,000,000, together with the unexpended balance of the appropriation available for this purpose for the fiscal year 1938: Provided, That such amount shall be available until expended for making payments required under the Act, and the amounts not required for current payments shall be invested from time to time in such amounts and in such manner as the Secretary of the Treasury may deem most expedient in accord- ance with the provisions of such Act. Payments to the Federal Farm Mortgage Corporation on account of reductions in interest rate on mortgages: To enable the Secretary of the Treasury to pay to the Federal Farm Mortgage Corporation such amount as the Governor of the Farm Credit Administration certifies to the Secretary of the Treasury is equal to the amount by which interest payments on mortgages held by such Corporation have been reduced during the fiscal year 1939, in accordance with the provisions of section 32 of the Emergency Farm Mortgage Act of 1933, approved May 12, 1933 (12 U. S . C. 1016), as amended, such payments to be made quarterly, beginning as soon as practicable after October 1, 1938, $8,200,000. Payments to Federal land banks on account of reductions in inter- est rate on mortgages: To enable the Secretary of the Treasury to pay each Federal land bank such amount as the Land Bank Com- missioner certifies to the Secretary of the Treasury is equal to the 121 Office of the Secre- tary. Salaries. Experts. Provisos. Salaries limited to average rates under Classification Act; ex- ceptions. 5 U.S . C. §§661-674; Supp. III , §§ 673, 673c. Advances in merito- rious cases. Not applicable to clerical - mechanical service. No reduction in fixed salaries. 5U.S.C.§666. Transfers without reduction. Higher salary rates permitted. If only one position in a grade. Old-age reserve ac- count, Social Security Act. 49 Stat. 622. 42 U. S. C., Supp. III, § 401. Unexpended bal- ance available. Propiso. Availability. Investment of amounts not required for current payments. Payments to Fed- eral Farm Mortgage Corporation on ac- count of reductions in interest rate on mort- gages. 48 Stat. 48; 49 Stat. 300. 12U.S.C.§1016; Supp. III, § 1016. Payments to Fed- eral land banks on account of reductions in interest rate on mortgages.
�
