On and after July 1, 1927, every employer having employees coming under the provisions of the act is required to secure payment of compensation by insurance in a company authorized by the Commission or self-insurance authorized by the Commission. A heavy penalty is provided for failure to secure compensation. A severe penalty is also provided for the employing of any stevedoring firm which does not present a certificate of compliance.

The Commission is required to make the rules and regulations under this act, prescribe forms, establish compensation districts, and appoint and assign Deputy Commissioners to such districts. The Deputy Commissioners are required to issue certificates of compliance with insurance provisions, enforce requirements as to reports and penalties, regulate medical and legal fees, hold hearings when necessary or demanded by either party, make investigations, allow or disallow claims, examine settlements when hearings are not required to see that the injured employee has received the benefits of the law, take action in case of default in payment, and certify records upon appeal to the courts. Appeal to the Federal courts from the decision of the Deputy Commissioner may be had upon questions

of law.

Compensation for total disability is two-thirds of the average weekly pay, not to exceed a maximum of $25 per week, with a minimum of $8 per week. There is a schedule of benefits for permanent partial disability. Death benefits are payable to the widow until remarriage and to children until they reach the age of 18, also to other dependents under certain circumstances. Reasonable funeral expenses not to exceed $200 are provided. The total compensation payable for injury or death in any one case shall not exceed the sum of $7,500.

The act approved May 17, 1928, which became effective July 1, 1928, made applicable to employers and employees in the District of Columbia the provisions of the Longshoremen's and Harbor Workers' Compensation Act, thus extending the principles of workmen's compensation to employment in the District of Columbia.

The act excludes from its benefits the master and a member of a crew of any vessel, such men having the rights known as maintenance and cure and the rights given by the Federal Employers' Liability Act; the employees of railroads when engaged in interstate or foreign commerce, who are also specifically provided for by the Federal Employers' Liability Act; and employees engaged in domestic service or agriculture; and those engaged in casual employment not in the usual course of the trade, business, occupation, or profession of the employer.

Compensation is paid by the employer through an insurance carrier authorized by the Commission or direct as a self-insurer under conditions prescribed by the Commission.

FEDERAL BOARD OF HOSPITALIZATION

It is the duty of the Board to give consideration to, and make recommendations on, questions which may arise concerning the proper coordination of the Federal hospital facilities, with particular reference to (a) the use of existing facilities and (b) the construction of additional facilities.

The Board acts upon matters relating to hospitalization in so far as they pertain to the Federal Government when such matters are referred to it either by the President, the Director of the Bureau of the Budget, the head of any Government agency, or the Administrator of Veterans' Affairs.

FEDERAL BOARD OF SURVEYS AND MAPS

The Board of Surveys and Maps was constituted by Executive order of December 30, 1919, to coordinate the activities of the various map-making agencies of the Government. Amendatory Executive order of January 4, 1936, designates it as the Federal Board of Surveys and Maps, and extends its advisory powers to include independent establishments as well as executive departments. The various executive departments and independent establishments are requested to make full use of the Board as an advisory body and to furnish all available information and data called for by the Board. Meetings are held at stated intervals, to which representatives of the map-using public are invited for the purpose of conference and advice. A Map Information Office has been established under the Board in the Geological Survey for the purpose of collecting, classifying, and furnishing to the public information concerning all map, survey, and aerial photographic data available in the various Government agencies and elsewhere.

FEDERAL COMMUNICATIONS COMMISSION

The Federal Communications Commission was created by an act of Congress approved June 19, 1934, as subsequently amended, for the purpose of regulating interstate and foreign commerce in communication by wire and radio so as to make available, so far as possible, to all people of the United States a rapid, efficient, Nation-wide, and world-wide wire and radio communication service with adequate facilities at reasonable charges, for the purpose of the national defense, for the purpose of promoting safety of life and property through the use of wire and radio communication, and for the purpose of securing a more effective execution of this policy by centralizing authority theretofore granted by law to several agencies and by granting additional authority with respect to interstate and foreign commerce in wire and radio communication.

The Commission exercises functions previously vested in the Federal Radio Commission, which was abolished by the Communications Act; certain functions previously exercised by the Interstate Commerce Commission with respect to telegraph operation; powers formerly exercised by the Postmaster General with respect to Government telegraph rates; and powers formerly exercised by the State Department under the Cable Landing License Act. The powers of the Commission extend beyond those previously vested in these other agencies in the communications field. The powers conferred by the Communications Act also include authority for the Commission to exercise additional powers derived under many international agreements relating to communications.

The Commission is composed of seven members and functions as a unit. The Commission makes all important policy determinations and directly supervises all activities of the staff. From time to time committees of the Commission, consisting usually of three members, are delegated to make special studies and supervise particular undertakings. The performance of specified functions is delegated to individual commissioners, to the Administrative Board, consisting of heads of departments, and to the heads of certain departments as individuals.

The staff organization consists of the following departments:

Accounting, Statistical, and Tariff Department (chief accountant), whose functions include matters of accounting regulation, compilation and analysis of statistics, and tariff analysis and regulations.

Engineering Department (chief engineer), whose functions include the engineering phases of broadcast, common carrier, and private and ship service regulation and enforcement; international and interdepartmental matters; supervision of the field staff; and technical engineering information and research.

Law Department (general counsel), whose functions include the legal phases of radio licensing and of common carrier regulation; conduct of investigations; administration (including legislation, rule-making, and international matters) and litigation before the courts.

Secretary's office (secretary of the Commission), which has charge of all matters of internal administration.

Title I of the Communications Act contains provisions defining the purposes of the statute, fixing the terms and compensation of Commissioners, and conferring general powers. The statute provides that with certain exceptions employees of the Commission shall be appointed subject to the provisions of the civil-service laws and the Classification Act of 1923.

Title II applies to all common carriers engaged in interstate or foreign communication by wire or radio. The act specifically provides that persons engaged in radio broadcasting shall not be deemed common carriers. Common carriers are required by title II to furnish communication service upon reasonable request, to establish physical connections with other carriers, to establish through routes and charges and the divisions thereof, and to establish and provide facilities. All charges and practices are required to be just and reasonable, and it is declared unlawful for any carrier to make unjust or unreasonable discriminations or to extend undue or unreasonable preferences or advantages in connection with communication service. Carriers are required to publish and file with the Commission tariffs for all charges showing the practices affecting such charges. The Commission is given powers to hold hearings as to the lawfulness of charges, to suspend tariffs, and to prescribe just and reasonable rates. Persons claiming to suffer damages as a result of action by common carriers subject to the act may make complaint to the Commission, and the Commission is required to investigate such complaints and may make an award of damages. Carriers are required to file their contracts with the Commission. Persons seeking to hold office in more than

one carrier company subject to the act must obtain the Commission's consent. The Commission has power to make valuations of carrier property, to make inquiries into management, to require the filing of annual reports, to prescribe systems of account, to authorize consolidations of telephone companies, and to authorize extensions of lines.

Title III contains provisions relating to radio and is divided into two parts. Part I contains provisions respecting radio licensing and regulation. The purpose of the act is declared to be to maintain the control by the United States over all channels of interstate and foreign radio transmission; and to provide for the use of such channels, but not the ownership thereof, by persons for limited periods of time, under licenses granted by Federal authority. It is made unlawful for any person to operate any apparatus for the transmission of energy or communications or signals by radio within any State, Territory or possession when the effects of such use extend beyond the borders thereof, or upon vessels or aircraft of the United States, except in accordance with a license issued by the Commission. The statute requires that the operation of radio transmitting apparatus shall be carried on only by persons holding operators' licenses issued by the Commission. The radio license requirements do not apply to the Philippine Islands or to the Canal Zone. The Commission does not have jurisdiction with respect to radio stations belonging to and operated by the United States which may use such frequencies as may be assigned by the President.

The Commission is authorized to classify radio stations, prescribe the nature of their service, assign frequencies, and make regulations to carry out the purposes of the act. It also has authority to revoke or modify licenses. Broadcast licenses may not be for a longer term than 3 years, and the Commission's rules and regulations provide for a 1-year term for such licenses.

With a few minor exceptions, the statute provides that no license shall be issued unless a permit for the construction of the station has first been issued. Applications for construction permits and licenses must be in writing and sworn to by the applicant. The act contains provisions against the holding of licenses by aliens, foreign corporations, representatives of foreign governments, domestic corporations in which an alien is an officer or director or in which an alien owns or votes more than one-fifth of the stock, or by any person whose license has been revoked by a court for violation of the antitrust laws.

The standard governing the granting of licenses is public interest, convenience, or necessity. If the Commission is able to determine from an examination of an application that public interest, convenience, or necessity would be served by a grant thereof, it is required to grant such application without a hearing. If it cannot so determine, it must afford the applicant notice and opportunity to be heard.

The act prohibits assignment of licenses and transfer of control of licensee corporations except upon written consent of the Commission.

The statute provides that if a person who is a legally qualified candidate for public office is permitted to use a broadcast station, equal opportunity shall be afforded to all other candidates for that office in the use of the broadcast station. The broadcasting of information concerning lotteries, gift enterprises, and similar schemes, and the utterance of obscene, indecent, or profane language by means of radio are prohibited. The act provides that the Commission shall have no power of censorship over radio communications.

Part II of title III requires the use of radio for safety purposes on board certain classes of ships of the United States and also confers powers on the Commission to carry out the provisions of the Safety of Life at Sea Convention (London, 1929). Title IV contains procedural and administrative provisions. It confers jurisdiction on three-judge district courts to enforce, enjoin, set aside, annul or suspend any order of the Commission under the act (except any order granting or refusing an application for a construction permit for a radio station, or for a radio station license, or for renewal of an existing radio station license, or for modification of an existing radio station license, or suspending a radio operator's license). Orders so excepted are subject to review by appeal to the United States Court of Appeals for the District of Columbia, by the applicant whose application is denied, by any other person aggrieved or whose interests are adversely affected by the action of the Commission granting or refusing an application, or by a radio operator whose license is suspended.

The Commission is also given power to make investigations on its own motion and to issue subpoenas and to receive depositions. The statute provides for cooperation by the Commission with State commissions with respect to common carrier matters.

Title V contains penal and forfeiture provisions. In general, violations of the statute are punishable by a fine of not more than $10,000 or imprisonment for not more than 2 years, or both. Violation of a rule of the Commission is punishable by a fine of not more than $500 for each day during which the offense occurs. Forfeitures are recoverable in United States courts and the Commission is given powers in certain cases to remit and mitigate forfeitures.

Title VI prohibits the unauthorized interception and publication of communications. During the continuance of a war in which the United States is engaged, or upon proclamation by the President that there exists war or a threat of war, or a state of public peril or disaster, or other national emergency, special powers are conferred upon the President in connection with communications.

FEDERAL DEPOSIT INSURANCE CORPORATION

The Federal Deposit Insurance Corporation was organized under authority of the Banking Act of 1933, approved by the President on June 16, 1933 (Public, No. 66, 73d Cong.). This act was amended by Public, No. 362, approved June 16, 1934 (73d Cong.); by Public Resolution No. 38, approved June 28, 1935 (74th Cong.); by the Banking Act of 1935, approved August 23, 1935 (Public, No. 305, 74th Cong.); and by Public Resolution No. 83, approved April 21, 1936 (74th Cong.).

The management of the Corporation is vested in a board of directors of three members, two of whom are appointed by the President by and with the advice and consent of the Senate, the third member being the Comptroller of the Currency. The capital stock of the Corporation, according to the requirements of law, is as follows: The Treasury of the United States has subscribed $150,000,000. Each Federal Reserve bank has subscribed to stock in an amount equal to onehalf of the surplus of such bank on January 1, 1933, the total amount of such subscription being $139,299,556.99.

The chief function of the Corporation is to insure the deposits of all banks which are entitled to the benefits of insurance under the law, to the extent of $5,000 for each depositor. All national banks and all Federal Reserve member banks are insured under the law, and any bank located in the States of the United States and the District of Columbia which is not a member of the Federal Reserve System, may become insured upon application to and examination by the Corporation, and approval by the board of directors. The benefits of insurance are also extended to banks in Hawaii, Alaska, Puerto Rico, and the Virgin Islands. The creation of an insurance reserve is provided for through annual assessment at the rate of one-twelfth of 1 percent upon the average deposits, less authorized deductions, of each insured bank.

A second function of the Corporation is to act as receiver for insured banks which fail. The Corporation is appointed receiver for all national banks which fail and may be appointed receiver for closed insured State banks if such appointment is tendered by the State banking authority and is permitted by State law. Upon the closing of an insured bank, the Corporation immediately assumes the insured deposit liability of the closed bank and makes available the funds needed to discharge such liability. For this purpose the Corporation may, if it finds that it is advisable, organize a new national bank. The claim of each insured depositor is paid upon assignment to the Corporation by him of all rights to dividends and recovers on account, and to the extent of his insured deposit.

Further, the Corporation may make loans secured by assets of an open or closed insured bank, or may purchase such assets, or may guarantee any other insured bank against loss by reason of its assuming the liabilities of another open or closed insured bank, whenever, in the judgment of the board of directors, such action will reduce the risk or avert threatened loss to the Corporation and facilitate a merger or consolidation of an insured bank with another insured bank.

Of the 15,012 operating banks in the United States and possessions on June 30, 1939, deposits in 13,534 banks, including 51 mutual savings banks, were insured by the Federal Deposit Insurance Corporation. As of that date 6,398 banks, members of the Federal Reserve System, had been automatically admitted to membership, and 7,085 nonmember banks, other than mutual savings banks, had made application and had been accepted for membership.

FEDERAL LOAN AGENCY

The Federal Loan Administrator, head of the Federal Loan Agency, supervises the administration, and is responsible for the coordination of the functions and activities of the Reconstruction Finance Corporation, Electric Home and Farm Authority, The RFC Mortgage Company, Disaster Loan Corporation, Federal National Mortgage Association, Federal Home Loan Bank Board, Home Owners' Loan Corporation, Federal Savings and Loan Insurance Corporation, Federal Housing Administration, Export-Import Bank of Washington, Metals Reserve Company, Rubber Reserve Company, Defense Plant Corporation, Defense Supplies Corporation, and Defense Homes Corporation.

RECONSTRUCTION FINANCE CORPORATION

The Reconstruction Finance Corporation was created by "An act to provide emergency financing facilities for financial institutions, to aid in financing agriculture, commerce, and industry, and for other purposes," approved January 22, 1932. This basic law, however, was amended, and the Corporation's powers were increased and the scope of its operations extended by subsequent legislation. The Corporation may perform all functions it is authorized to perform under law until the close of business January 22, 1947. The President, however, may authorize the Directors of the Corporation to suspend the exercise of any lending authority for such time or times as he may deem advisable.

ORGANIZATION

The Corporation was organized and began operations on February 2, 1932. Its management is vested in a board of directors consisting of five persons appointed by the President of the United States by and with the advice and consent of the Senate.

The Corporation functions through a principal office at Washington and loan agencies established in cities throughout the United States. In addition, the Corporation has special representatives at Salt Lake City, Utah, and San Juan, P. R.

The Federal Reserve banks act as depositories, custodians, and fiscal agents for the Corporation. Since there is no Federal Reserve bank in Puerto Rico, the insular treasurer at San Juan acts as custodian.

The funds of the Corporation are kept on deposit with the Treasurer of the United States.

LOANS UNDER SECTION 5 OF THE RECONSTRUCTION FINANCE CORPORATION ACT, AS AMENDED

TO FINANCIAL INSTITUTIONS, STATE INSURANCE FUNDS, AND RAILROADS

Pursuant to the provisions of section 5 of the Reconstruction Finance Corporation Act, as amended, the Corporation is authorized to make loans, on full and adequate security and upon the terms and conditions stated in the law, to any bank, savings bank, trust company, building and loan association, insurance company, mortgage-loan company, credit union, Federal land bank, joint-stock land bank, Federal intermediate credit bank, agricultural credit corporation, livestock credit corporation, organized under the laws of any State, the District of Columbia, Alaska, Hawaii, Puerto Rico, or the United States, including loans secured by the assets of any bank, savings bank, or building and loan association that is closed, or in process of liquidation, to aid in the reorganization or liquidation thereof, upon application of the receiver or liquidating agent of such institution; any State insurance fund established or created by the laws of any State (including Alaska, Hawaii, and Puerto Rico) for the purpose of paying or insuring payment of compensation to injured workmen and those disabled as a result of disease contracted in the course of their employment, or to their dependents; and any fund created by any State (including Alaska, Hawaii, and Puerto Rico) for the purpose of insuring the repayment of deposits of public moneys of such State, or any of its political subdivisions, in banks or depositories qualified under the law of such State to receive such deposits.

Under the same section of law, as amended, the Corporation, with the approval of the Interstate Commerce Commission, including approval of the price to be paid, may, to aid in the financing, reorganization, consolidation, maintenance, or construction thereof, purchase for itself, or for account of a railroad obligated