2015 US Code
Title 50 - War and National Defense (Sections 1 - 4705)
Chapter 54 - Merchant Ship Sales (Sections 4401 - 4406)
Sec. 4401 - Declaration of policy

(a) It is necessary for the national security and development and maintenance of the domestic and the export and import foreign commerce of the United States that the United States have an efficient and adequate American-owned merchant marine (1) sufficient to carry its domestic water-borne commerce and a substantial portion of its water-borne export and import foreign commerce and to provide shipping service on all routes essential for maintaining the flow of such domestic and foreign water-borne commerce at all times; (2) capable of serving as a naval and military auxiliary in time of war or national emergency; (3) owned and operated under the United States flag by citizens of the United States; (4) composed of the best-equipped, safest, and most suitable types of vessels, constructed in the United States and manned with a trained and efficient citizen personnel; and (5) supplemented by efficient American-owned facilities for shipbuilding and ship repair, marine insurance, and other auxiliary services.

(b) It is hereby declared to be the policy of this Act to foster the development and encourage the maintenance of such a merchant marine.

(Mar. 8, 1946, ch. 82, §2, 60 Stat. 41.)

This Act, referred to in subsec. (b), is act Mar. 8, 1946, ch. 82, 60 Stat. 41, known as the Merchant Ship Sales Act of 1946, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out below and Tables.

Section was formerly classified to section 1735 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

Act Mar. 8, 1946, ch. 82, §1, 60 Stat. 41, provided that: "This Act [see Tables for classification] may be cited as the 'Merchant Ship Sales Act of 1946'."

Act Mar. 8, 1946, ch. 82, §14, 60 Stat. 50, as amended June 28, 1947, ch. 161, §1, 61 Stat. 190; Feb. 27, 1948, ch. 78, §1(a), 62 Stat. 38; Feb. 28, 1949, ch. 12, 63 Stat. 9; June 29, 1949, ch. 281, §1, 63 Stat. 349; June 30, 1950, ch. 427, §1, 64 Stat. 308; Aug. 17, 1950, ch. 725, 64 Stat. 452, provided that: "No contract of sale shall be made under this Act [see Tables for classification] after January 15, 1951, and no contract of charter shall be made under this Act after June 30, 1950, except as provided for charter under subsections (e) and (f) of section 5 hereof, as amended [50 U.S.C. 4403(e), (f)]."

Act Sept. 28, 1950, ch. 1093, §3, 64 Stat. 1078, provided that: "Contracts for the sale of vessels for exclusive use on the Great Lakes, including the Saint Lawrence River and Gulf and their connecting waterways, may be made until December 31, 1950. Such contracts shall require that transfer to the Great Lakes of such vessels by the buyers shall be completed by December 31, 1951."