Authorization of Appropriation.—

Sec. 101. Authorization of Appropriation.—The Mutual Security Act of 1951, as amended, is amended by adding at the end thereof the following new section: “authorization of appropriations “Sec. 540. There is hereby authorized to be appropriated to the President for the fiscal year 1954 not to exceed $2,129,689,870 to be available under section 101 (a) (1) (relating to military assistance for Europe): Provided, That of the equipment and materials made available under section 101 (a) (1) with funds appropriated pursuant to the authorization contained in this section, 50 per centum shall be transferred to the organization referred to in clause (C) of section 2 (b) or to the countries which become members thereof, unless the Congress, upon the recommendation of the President, shall hereafter otherwise provide; $305,212,637 to be available under section 201 (relating to military assistance for the Near East and Africa); $1,081,620,493 to be available under section 301 (relating to military and other assistance for Asia and the Pacific); and $15,000,000 to be available under section 401 (relating to military assistance for Latin America)”