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X-2092 1192 WHEREAS the Department of State on July 1, 1920, made the following announcement: "The restrictions which have heretofore stood i n the way of trade and communication with Soviet Russia were today removed by action of the Department of State. Such »f these restrictions,' however, as pertain to the shipment of materiale susceptible of: immediate use for war purposes w i l l , for the present at l e a s t , be maintained. "Political recognition, present or future, of any Russian authority exercising or claiming to exercise governmental functions, i s neither granted nor implied by t h i s action. It should be emphasized, moreover, that individuals or corporations availing themselves of the present opportunity to trade with Russia w i l l do so on their own responsibility and at their own risk. The assistance which the United States can normally extend to i t s c i t i z e n s who engage in trade or travel in some foreign country whose government i s recognized by the United States can not be looked for i n the present else, since there i s no o f f i c i a l or representative Russian authority with which t h i s Government can maintain those relations usually subsisting between nations. "The action which the United States i s now taking i n no wise constitutes a recognition of the validity of industrial or commercial concessions granted by any existing Russian authority. American citizens availing themselves of the present relaxation of r e s t r i c t i o n s are warned ; against the risks incident to the acceptance of commodities or other values, the t i t l e to which may later be brought into question. "The situation which at present prevails, relative to travel from or to Russia, w i l l be unaffected by the removal of trade restrictions. Passports for Russia can not be Issued, nor w i l l any change be made in the visa regulations now in force. "Since i t i s not desirable at t h i s time to undertake negotiations with the Soviet Postal authorities, .the Post Office Department w i l l be unable to accept mail from or to Soviet Russia. There has never been any parcel post convention between the United States and Russia and t h i s mode of forwarding goods i s , therefore, unavailable." 1193 - X-20S2 AND 1HEREAS a l l r e s t r i c t i o n s imposed upon the export of coiufbullion an4 currency from the United States to certain specified countries were removed by Proclamation of the President on June 26, 1919# except as to that part of Russia under control of the so-called Bolshevik government, which Proclamation continued i n force a l l prohibitions against dealings or exchange transactions in Russian rubles, transfers of credit, or exchange transactions with that part of Russia unde» the control of the so-called Bol shevik government to the extent deemed advisable by the Secretary of the Treasury and the Federal Reserve Board, THEREFORE BE It RESOLVED by the Federal Reserve Board thSt i n Vier of the fact that the" Department of State has removed the restrictions which have heretofore stood i n the way of trade and communication with Soviet Russia and has advised that i n order to make i t s action of force .and e f f e c t the present restrictions on credit and exchange transaction should be r e moved, the Federal Reserve Board, concurrently with the Secretary of the -V Treasury announces that a l l rules and regulations issued or prescribed i n connection with such transactions are hereby suspended f o r the time be$p6»
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