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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States [-Circular No. 2 3 9 7 1 L March 13, 1942 J Executive Order No. 8389, as Amended, and Regulations Issued Pursuant Thereto, Relating to Transactions in Foreign Exchange, Etc., and Section 5(b) of the Trading With the Enemy Act, as Amended by the First War Powers Act. To all Banking Institutions, and Others Concerned, in the Second Federal Reserve District: For your information we quote below the texts of two telegrams received today from the Treasury Department: The following are the texts of General Ruling No. 6A and a press release explanatory thereof issued by the Treasury Department today: CODE OF FEDERAL REGULATIONS TREASURY DEPARTMENT Title 31—Money and Finance: Treasury — „• f +i, c Chapter I—Monetary Offices, Department of the Treasury Umce or the Secretary Part 132—General Rulings under Executive Order No. 8389, March 13, 1942 . April 10, 1940, as amended, and Regulations issued pursuant thereto. Section 132.6A GENERAL RULING NO. 6A, UNDER EXECUTIVE ORDER NO. 8389, APRIL 10, 1940, AS AMENDED, AND REGULATIONS ISSUED PURSUANT THERETO, RELATING TO TRANSACTIONS IN FOREIGN EXCHANGE, ETC., AND SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT.* United States and foreign currency sent, mailed, imported or otherwise brought into the United States from any blocked country not within the generally licensed trade area, or from, by, or on behalf of any person whose name appears on "The Proclaimed List of Certain Blocked Nationals", and the receiving or holding in the United States of such currency so brought into the United States shall be subject to the provisions of General Rulings Nos. 5 and 6 in the same manner as if such currency were securities. E. H. FOLEY, JR. Acting Secretary of the Treasury. • P a r t 132;—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Star. 179; Public No. 354, 77th Congress, 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, December 9, 1941, and Ex. Order 8998, December 26, 1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. TREASURY DEPARTMENT Washington FOR IMMEDIATE RELEASE PRESS SERVICE March 13, 1942 No. 30-73 The Treasury Department today took action to control the importation of foreign and domestic currency into the United States from any blocked country not within the generally licensed trade area or from any proclaimed list national. General Ruling No. 6A subjects all such currency to the controls extended to securities by General Rulings Nos. 5 and 6. Treasury officials pointed out that under this general ruling currency from these blocked areas or nationals would upon importation be forwarded immediately to a Federal Reserve Bank as fiscal agent of the United States. The Federal Reserve Bank will thereafter hold the currency until the Treasury Department has authorized its release. (OVER) The following are the texts of Public Circular No. 17, issued today, and press release issued in connection therewith: CODE OF FEDERAL REGULATIONS TREASURY DEPARTMENT Title 31~—Money and Finance: Treasury ^o, f , c Chapter I—Monetary Offices, Department of the Treasury Utrice Ot the Secretary Part 131—General Licenses under Executive Order No. 8389, March 13, 1942 April 10, 1940, as amended, and Regulations issued pursuant thereto. PUBLIC CIRCULAR NO. 17 UNDER EXECUTIVE ORDER NO. 8389, APRIL 10, 1940, AS AMENDED, AND REGULATIONS ISSUED PURSUANT THERETO, RELATING TO TRANSACTIONS IN FOREIGN EXCHANGE, ETC.* (1) General License No. 13 is hereby amended as follows: (a) by deleting the word "Java" from subdivisions (a) and (b) of paragraph (1) thereof; and (b) by deleting subdivisions (c) and (d) from paragraph (1) thereof. (2) General License No. 15 is hereby amended as follows: (a) by deleting the words "between the United States and the Netherlands East Indies and" from paragraph (1) thereof; and (b) by deleting the words "such areas" from subdivisions (a) and (b) of paragraph (1) thereof and substituting therefor the words "the Netherlands West Indies". (3) General License No. 20 is hereby amended by deleting the words "the Netherlands East Indies or" from the first paragraph thereof. (4) General License No. 21 is hereby amended by deleting the words "the Netherlands East Indies or" from paragraph (1) thereof. (5) For the purpose of administering the Order and complying with the provisions thereof, the Netherlands East Indies shall continue to be regarded as a part of the Netherlands and not as a part of the territory of any other blocked country. (6) Attention is directed to the fact thatT by reason of temporary control and occupation by the military, naval, and police forces and other authority of Japan, the Netherlands East Indies is no longer included within the generally licensed trade area as defined in General License No. 53. General License No. 53 is hereby amended by deleting the words "the Netherlands East Indies" from subdivision (a) of paragraph (3) thereof. E. H. FOLEY, JR. Acting Secretary of the Trcasurx. *Part 131;—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Public No. 354, 77th Congress: Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, December 9, 1941, and Ex. Order 8998, December 26, 1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. TREASURY DEPARTMENT Washington FOR IMMEDIATE RELEASE PRESS SERVICE March 13, 1942 No. 30-74 The Treasury Department announced today that, by reason of temporary Japanese occupation and control of the Netherlands East Indies, certain general licenses relating to those areas are no longer applicable. Public Circular No. 17, issued today, called attention to the amendment of these general licenses which had authorized transactions by, or on behalf of, persons in the Netherlands East Indies. This development further implements the Treasury Department's program of preventing the liquidation in the United States of the assets of invaded countries and is in line with the policy regularly followed with respect to territories temporarily falling under enemy domination. Official spokesmen noted that the Netherlands East Indies will continue to be regarded as a part of the Netherlands, frozen by Executive Order of May 10, 1940. Additional copies of this circular will be furnished upon request. AT.T.AN SPROTJL, President.
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