Finnish Educational Exchange Act of 1949 explained

Shorttitle:Finnish Educational Exchange Act of 1949
Longtitle:An Act to provide that any future payments by the Republic of Finland on the principal or interest of its debt of the First World War to the United States shall be used to provide educational and technical instruction and training in the United States for citizens of Finland and American books and technical equipment for institutions of higher education in Finland, and to provide opportunities for American citizens to carry out academic and scientific enterprises in Finland.
Colloquialacronym:FEEA
Enacted By:81st
Effective Date:August 24, 1949
Cite Statutes At Large:, Chap. 505
Introducedin:Senate
Introducedby:J. William Fulbright (D–AR)
Introduceddate:July 21, 1949[1]
Signedpresident:Harry S. Truman
Signeddate:August 24, 1949

Finnish Educational Exchange Act of 1949 is a United States statute supporting an accord for war reparations acquired by the Republic of Finland during the Finnish Civil War and World War I. The Act of Congress authorized the collection of future reparation payments by Finland to be reserved in a depository institution or special deposit account administered by the United States Department of the Treasury. The financial endowment was to be available and governed by the United States Department of State. The Finland academic exchange endowment procured financing for the furtherance of academic instruction and studies, educational activities, and technical training as a collaborative pursuit by Republic of Finland and the United States.

Arkansas Senator James Fulbright endorsed the senatorial conditions for the Fulbright Act of 1946 during September 1945 establishing the preliminary progressive elements for foreign academic exchange programs.[2] The eighty-first Senate joint resolution was sponsored by Senator Fulbright serving as a benefactor for student exchange programs at the crest of the post-war interval in light of the aftermath of World War II and Finland in World War II.

The Fulbright Program achieved the dialogue of cultural diplomacy and the harmonious exchange of globalization. The international exchange-of-persons affairés skillfully seasoned the Cold War embracing a culmination by the revolutions of 1989 and the end of the Cold War.

Origin of Finnish Educational Exchange Act

In 1922, United States government established a World War Foreign Debts Commission by the 67th United States Congress passage of the World War Foreign Debts Commission Act. The Commission was authorized to mediate agreements and terms of World War I government debt sustained by foreign governments obligated to the United States of America.[3] [4]

In 1924, the 68th United States Congress passed House bill 5557 entitled the Finland Settlement of World War I Indebtedness. The Act of Congress encompassed the defining of terms regarding the funding, payment installments, and rates of interest for World War I reparations as commitments accrued by the Republic of Finland.[5] [6]

Declarations of the Act

The Finnish Educational Exchange Act was penned as three sections supporting the auspices for financial funding while incorporating applicable provisions of the United States Educational Exchange Act of 1948.

63 STAT 630 § 1Finland use of future war debt payments for foreign academic exchange programs
Availability and provision of financial funds for Finnish educational exchange program
63 STAT 630 § 2U.S. Department of State authorized in accordance with applicable provisions of the United States Educational Exchange Act of 1948
63 STAT 630 § 3Special deposit account disbursements made by the Division of Disbursement of the Treasury Department as vouchers certified by U.S. Department of State

See also

U.S. statutes & educational exchange programs

Early twentieth century & political state of Finland

Archival documents of U.S. Department of State

Presidential statements of Harry Truman

Informational resources

External links

Notes and References

  1. Web site: Finnish Educational Exchange Act of 1949 ~ Senate Joint Resolution 3 . July 21, 1949 . 9 . 8 . 81st Congressional Record of United States Senate - First Session . U.S. Congress.gov . 9917.
  2. Web site: Surplus Property Act Amendment of 1946 ~ Senate Bill S. 1440 . September 27, 1945 . 91 . 7 . 79th Congressional Record of United States Senate . U.S. Congress.gov . 9043–9044.
  3. Web site: The Secretary of the World War Foreign Debt Commission (Wadsworth) to the Secretary of State . April 18, 1922 . Papers Relating to the Foreign Relations of the United States, 1922, Volume I, Document 117 . Office of the Historian ~ Foreign Service Institute . United States Department of State.
  4. Web site: World War Foreign Debt Commission . June 30, 1922 . Report of Secretary of the Treasury for Fiscal Year Ended June 30, 1922 . Federal Reserve Bank of St. Louis ~ FRASER . United States Printing Office . 24-53.
  5. Web site: Secretary of the Treasury Submitting a Copy of the Report of the World War Foreign Debt Commission . May 2, 1923 . Settlement of the Indebtedness of the Republic of Finland to the United States of America . U.S. 68th Congress, First Session ~ Senate Document No. 23 . United States Senate Committee on Finance . United States Printing Office.
  6. Web site: Finland World War I Indebtedness Act of 1924 ~ P.L. 68-41 . March 12, 1924 . USLaw.Link . 68th Congress, Session I ~ 43 Stat. 20, Chapter LII - House Bill 5557 . United States Government Printing Office.

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