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The Johnson JSbt applies to any foreign government -which is
in default in the payment of'its obligations to the government of the United States*


It prohibits any person within the United States or any place
subject to its jurisdiction from a.

Purchasing or selling the securities or other
obligations of such foreign government or political subdivision thereof or ary organization
or association acting for or on behalf of such
foreign government or political subdivision,
issued after the passage of the Act, or

h. Making any loan to such foreign government,
political subdivision, organization or association except renewals or adjustments of existing
indebtedne s s •
Z. The term "person" is defined by the Act as including individuals,
partnerships, corporations or associations other than a public
corporation created by or pursuant to special authorization of
Congress, or a corporation in which the government of the United
States has or exercises a controlling interest through stock
ownership or otherwise*