Full text of Federal Reserve Bank of New York Circulars : 2997. Documents Pertaining to Foreign Funds Control

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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal A g e n t of the United

States

r Circular No. 2 9 9 7
U September 11, 1945

DOCUMENTS PERTAINING TO FOREIGN FUNDS CONTROL

To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

W e enclose a revision, dated J u n e 15, 1945, of the United States
Treasury Department publication entitled 1 ' Documents Pertaining to
Foreign Funds Control".

Additional copies will be furnished upon

request.

ALLAN

SPROUL,

President.

U N I T E D STATES T R E A S U R Y D E P A R T M E N T
W a s h i n g t o n : JUNE 15, 1945

DOCUMENTS PERTAINING TO
FOREIGN FUNDS CONTROL

Certain Sections of the Trading with the enemy Act, at amended;
Executive Orders and Regulations Relating to Transactions in
Foreign Exchange and Foreign-Owned Property; the Reporting
of All Foreign and Foreign-Owned Property; and Related Mat
ters; Presidential Proclamation Authorizing a Proclaimed List
of Certain Blocked Nationals and Regulations Relating Thereto;
General Rulings, General Licenses, and Public Circulars under
the Above Orders and Regulations; and Public Interpretations
and Certain Press Releases Relating to the Above-Mentioned
Documents.

For convenient use, Executive Order No. 8389, dated April 10, 1940, as
amended, regulating transactions in foreign exchange and foreign-owned prop
erty, providing for the reporting of all foreign-owned property, and related
matters, the Regulations of the Secretary of the Treasury issued pursuant thereto,
Executive Order No. 9193, and General Rulings, General Licenses, and Public
Circulars issued by the Secretary of the Treasury under said Orders and Regula
tions, as amended, which had not expired or been revoked as of June 1, 1945,
also the Presidential Proclamation of July 17, 1941, authorizing a Proclaimed
List of Certain Blocked Nationals, and Regulations prescribed by the Secretary
of the Treasury to give effect to such Proclamation, are here reproduced, ex
cept that Public Circulars Nos. 4, 4C, and 22 are referred to but not repro
duced. In the interests of brevity, the formal headings of the General Rulings,
General Licenses and Public Circulars as issued by the Secretary of the Treasury
and their designations as parts of the Code of Federal Regulations have been
omitted. In certain cases, the catch line inserted immediately preceding each
General Ruling, General License and Public Circular is not a part thereof as
issued by the Secretary of the Treasury and should be disregarded in determining
or interpreting the meaning of any provision thereof. Official copies of these
documents are printed in the Federal Register. Reference should be made to the
Federal Register for additional Orders, Proclamations, Regulations, General
Rulings, General Licenses and Public Circulars issued subsequent to June 1,
1945, and for revocations of, or amendments to, those printed herein.
Sections 2, 3(a), 3(c), and 5(b) of the Trading with the enemy Act and the
Presidential General License issued under Section 3(a) thereof are also here
reproduced.
In addition to the above mentioned documents, Public Interpretations and
certain pertinent Treasury Department Press Releases are included.
Additional copies of this publication, or of the documents referred to herein,
may be procured from the Treasury Department, Washington 25, D. C., or from
any Federal Reserve Bank.
Attention is called to General Ruling No. 4 and to the definitions
contained in the Order and Regulations, since a thorough understanding
of them is essential to the proper interpretation of these documents.
Particular attention is directed to General Ruling No. 11, which
imposes an additional restriction on every license and other authorization,
by prohibiting any transaction thereunder which, directly or indirectly,
involves any trade or communication with an enemy national as therein
defined.
Attention is also directed to General Ruling No. 11A which imposes
an additional restriction on every license and other authorization by limit
ing withdrawals from certain blocked German and Japanese accounts.

TABLE O F C O N T E N T S
Trading W ith the Enem y A ct
Section 5(b), as amended by T itle 3 o f the First W ar Powers Act o f 1941..........................................
Section 302 o f T itle 3, First W ar Powers A c t ............................................................................................
Section 2, 3(a) and 3 (c)......................................................................................................................................

1
1
2

General License Under Section 3(a) o f the Trading W ith the Enemy A c t ......................................

Executive Orders
Executive Order N o. 8389, as am ended.......................................................................................................
Executive Order N o. 9193................................................................................................................................

Proclamations
Authorizing Proclaimed List o f Certain Blocked Nationals.................................................................
United Nations. Declaration regarding forced transfers..................................................................... ..
Declaration on G old Purchases.....................................................................................................................

10
II

Resolution o f M onetary Conference Regarding Enemy Assets and L ooted Property
.................................................................................... ..............................................................

Regulations Under Executive Order N o. 8389, as A m ended.....................................................................
(Amendm ent to R e g u la tio n s)..........................................................................................................................

12
14

Special Regulation N o. 1, as A m ended.............................................................................................................

Restricted Exportations and Importations—T . D .
51245
..................................................................................................................................................

Importation o f Art Objects—T . D . 51072
...................................................................................................................................................

General Rulings
N o. 1. T erm “ Denmark” not applicable to Iceland..........................................................................
N o. 2. Transfer o f stock certificates and custody o f securities.........................................................
N o. 3. Transactions regarding securities registered or inscribed in name o f a designated
foreign country or national thereof.................................................. .....................................
N o. 4. Definitions and rules o f interpretations used in rulings, licenses, instructions, e tc ...
N o. 5. Regulations relating to im portation o f securities and currency........................................
N o. 5A. Regulations relating to certain importations and exportations o f checks, drafts,
and other financial instruments..............................................................................................
N o. 6 Delivery o f im ported securities by Federal Reserve Banks to General R u ling No. 6
Accounts in domestic banks.......................................................................................................
No. 6 A. (Revoked) ..........................................................................................................................................
N o. 7. Securities com ing from the Philippine Islands and the Panama Canal Z on e.................
N o. 8 . Certain payments to designated foreign countries and nationals thereof.......................
N o. 9. General License N o. 52 inapplicable to persons within Tan giers......................................
N o. 10. Control o f Philippine paper currency and securities...........................................................
N o. 10A. (Revoked) ..........................................................................................................................................
N o. 11. Regulations relating to trade or com munication with or by an enemy national.........
N o. 11A. Regulations lim iting withdrawals from certain blocked German and Japanese
accounts ............., ..........................................................................................................................
N o. 12. Transfers o f property in a blocked account effected without a license—litigation
involving blocked property.......................................................................................................
N o. 12A. Certain transfers o f property in a blocked account not deemed to be null and void,
or unenforceable, under General R u ling No. 12...............................................................
N o. 13. Procedure regarding applications for unblocking o f certain accounts and other
property ........................................................................................................................................
N o. 14. Transm itting o f United States Currency to M exico p roh ib ited ..........................................
N o. 15. Transactions involving Mexican railroad property...............................................................
N o. 16. Regulations relating to safe deposit boxes leased to nationals o f blocked countries
or containing property in which nationals o f blocked countries have an interest..
N o. 17. Regulations relating to securities accounts o f banks or other financial institutions
located in blocked countries.....................................................................................................
N o. 18. Regulations relating to the Philippine Islands.....................................................................
General
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.

Licences
1. Payments to blocked accounts in domestic banks...................................................................
1A. Transfers o f securities to blocked accounts in domestic banks..........................................
2. Entries in certain accounts for normal service charges.........................................................
3. (Revoked) ..........................................................................................................................................
4. Sale o f certain securities.................................................................................................................
5. Payments to the United States, states and political subdivisions........................................
6 . (Revoked) ..........................................................................................................................................
7. (Revoked) ..........................................................................................................................................
8 . (Revoked) ..........................................................................................................................................
9. (Revoked) ..........................................................................................................................................
10. (Revoked) ..........................................................................................................................................
11. Payments for living, traveling and similar personal expenses in the United States.. .
11 A. (Revoked) ..........................................................................................................................................

iii

19
19
19
19

20
22

23
24
24
24
24
25
25
25
27
28
29
29
30
30
30
31
34
35
35
35
36
36
37
37
37
37
37
37
37
37

TABLE O F C O N T E N T S— Continued
General Licences—Continued
N o. 12.
N o. 13.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
No.
N o.
N o.
N o.

N o.
N o.
N o.
No.
N o.
No.
N o.
N o.
N o.
N o.
N o.
N o.
N o.

N o.
N o.
N o.
N o.
N o.
Nf;i.
N e.
N o.
N o.
No.
N o.

(Revoked) .......................................................................................................................................... .......38
Certain offices outside the United Suites o f certain banks—generally licensed
nationals ............................................................ ........................................................................... ...... 38
ISA. Certain offices within the United States o f certain banks—generally licensed nationals
38
14. (Revoked) .......................................................................................................................................... .......59
15. Transactions incident to trade between the United States and the Netherlands
West Indies ......................................................................................................................................... 39
16. (Revoked) ................ ................................... ..................................................................................... ...... 89
17. (Revoked) .......................................................................................................................................... ...... 39
18. (Revoked) .......................................................................................................................................... ...... 39
19. (Revoked) ..........................................................................................................................................
20. Payments from accounts o f United States citizens dom iciled or residing in
39
Netherlands West Indies........................................................................................................... .......40
21. (Revoked) .......................................................................................................................................... .......40
22. (Revoked) .......................................................................................................................................... .......40
23. (Revoked) .......................................................................................................................................... .......40
24. (Revoked) .......................................................................................................................................... .......40
25. Effect o f attachment o f Form TFEL-2 to securities......................................................................40
26. Transactions in certain American Depository Receipts and American shares......................40
27. Payments o f dividends and interest on, and redem ption and collcction of, securities
41
28. Individuals who are citizens of, and residing only in, the United States—generally
licensed nationals ....................................................................................................................... .......41
29. A pplication o f certain general licenses to General R u lin g N o. 6 accounts................... .......42
30. Payments from , and transactions in the administration of, certain trusts..................... ...... 42
30A.Transactions incident to the administration o f certain decedent's e s t a t e s ........................43
31. Collection o f coupons from certain securities bearing stamps o f designated foreign
countries ..................................................................................................................... .................. .......43
32. Certain remittances for necessary livin g expenses................................................................. .......44
32A. Certain remittances to specified liberated areas in Sicily and Italy for necessary living
expenses ........................................................................................................................................ .......45
33. Certain remittances to United States citizens in foreign countries...........................................46
34. Extension o f certain general licenses to any blocked cou ntry............................................ .......46
35. (Revoked) .......................................................................................................................................... .......47
36. (Expired) ............................................................................................................................................ .......47
37. Payments from accounts o f United States citizens in em ploy o f United States
in foreign c o u n tr ie s ................................................................................................................... .......47
38. (Expired) ............................................................................................................................................ .......47
39. (Expired) ............................................................................................................................................ .......47
40. (Revoked) .......................................................................................................................................... .......47
41. (Expired) ...........................................................................................................i ............................... .......47
42. Certain individuals residing in United States on February 23, 1942, and certain
corporations and other organizations—generally licenseid nationals. Filing of
reports dn T F R -4 2 ....................................................................................................................... .......48
42A. (Revoked) .......................................................................................................................................... .......48
43. (Revoked) .......................................................................................................................................... .......48
44. Rom an Curia—generally licensed n ational.....................................................................................49
45. (Revoked) .......................................................................................................................................... .......49
46. (Expired) ............................................................................................................................................ ....... 49
47. (Revoked) ...................................................................................................................................... ........... 49
47A. (Revoked) .......................................................................................................................................... .......49
48. (Expired) ............................................................................................................. ......................................49
49. Transactions on behalf of, or involving property of, Sweden and its nationals....................49
50. Transactions on behalf o f Switzerland or the Banque Nationale Swisse..................... .......50
51. U nion o f Soviet Socialist Republics—generally licensed country...................................... .......51
52. Transactions on behalf of, or involving property of, Spain and its nationals........................ 51
53. Transactions incident to trade with members o f “ T h e Generally Licensed Trade
Area” not involving persons named in “ T h e Proclaimed List o f Certain Blocked
N ationals" .................................................................................................................................... ....... 52
54. Transactions involving property interests o f China or Japan, or any national thereof,
prior to but not on or since July 26, 1941...................................................................................53
55. (Expired) ........................................................................................................................................ .. ........53
56. Certain transactions by Commercial organiaztions within territory o f Hawaii
which are nationals o f China (Partially revoked)............................................................... ....... 53
57. (R evoked) ..................................................................................................................................................54
58. Transactions incident to trade between the United States and any part o f China
other than Manchuria (Partially revoked)................................................................................. 54
59. Offices o f certain New York Banks and certain other institutions w ithin H ong Kong
and China, except Manchuria—generally licensed nationals (Partly revoked)..................56
60. National Government o f the R ep u b lic o f China and Central Bank o f China—
generally licensed nationals (Partially revoked)................................................................. .......57
61. Offices o f certain Chinese Banks outside the United States and not within any
blocked country other than China—generally licensed nationals (Partially revoked)
57
62. (Revoked) .......................................................................................................................................... .......58
63. (Revoked) .......................................................................................................................................... .......58
64. (Revoked) .......................................................................................................................................... .......58

TABLE O F C O N T E N T S — Continued
General Licences—Continued
N o. 65. (Revoked) ..........................................................................................................................................
No. 66. /Revoked) ..........................................................................................................................................
N o. 67. -(Expired) ............................. ..............................................................................................................
N o. 68. (Revoked) ..........................................................................................................................................
N o. 68A. Japanese nationals residing continuously within the Continental United States since
June 17, 1940, and certain Japanese business enterprises—generally licensed
nationals. Reports to be filed..................................................................................................
N o. 69. (R evoked) ..........................................................................................................................................
N o. 70. Transactions on behalf of, or involving property of, Portugal and its nationals...........
N o. 71. Payment for subscriptions to United States periodicals.......................................................
N o. 72, Filing and prosecution in the United States o f applications for patents, trademarks
and copyrights ............................................................................................................................
N o. 72A. Filing and prosecution o f applications for blocked foreign patents, trademarks and
copyrights—filing o f reports on Form T F R -1 3 2 .................................................................
No. 73. Certain Chinese partnerships—generally licensed nationals..............................................
No. 74. Payments from accounts o f United States citizens, who are abroad, for certain
personal expenses in the United States................................................................................
No. 75. Remittances through domestic banks to persons in any part o f China, except
Manchuria (Partially revoked)..............................................................................................
No. 76. Transactions involving property interests o f T hailand, or any national thereof,
p rior to but not on or since Decem ber 9, 1941...................................................................
No. 77. (Revoked) ..........................................................................................................................................
N o. 78. Transactions involving property interests o f H ong Kong, or any national thereof
prior to but not on or since Decem ber 25, 1941.................................................................
N o. 79. (Expired) ............................................................................................................................................
No. 80. P h ilippine citizens residing only in United States or in generally licensed trade
area—generally licensed nationals..........................................................................................
N o. 81. (Revoked) ..........................................................................................................................................
N o. 82. Governm ent o f Commonwealth o f Philippine Islands, United States H igh Commis
sioner, and certain others—Generally licensed nationals................................................
N o. 83. (Expired) ........................................................... ...............................................................................
N o. 84. Certain United States Securities extempted from General R u ling N o. 5 ...................
N o. 85. Certain transactions in connection with the registration o f Mexican securities...........
No. 86. Transactions involving with respect to blocked life insurance policies...........................
N o. 87. Acquisition o f certain securities physically situated outside o f the United States.. . .
N o. 88. Im portation and Exportation o f certain checks and U. S. Postal M oney Orders...........
N o. 89. Exportation o f Powers o f Attorney or instructions relating to certain types o f
transactions ..................................................................................................................................
No. 90. Certain T rad e Transactions w ith France authorized.............................................................
No. 91. Certain T rad e Transactions with Belgium authorized.........................................................
Public Circulars
N o. 1. Extension o f time for filing reports on Form T F R -300.........................................................
N o. 2. Certain drafts or other orders for payment not to be presented, accepted or paid
except pursuant to license.......................................................................................................
No. 3. Transactions authorized under General Licenses Nos. 15, 53, and 58 irrespective o f
control o f vessel involved and prepayment o f freigh t.......................................................
N o. 4. Instructions for preparation o£ reports on Form T F R -3 0 0................................................
N o. 4A. (R evoked) ............................................................................................ ....................................... ..
N o. 4B. (Revoked) ......................... ...............................................................................................................
No. 4C. Instructions for preparation o f reports on Form TFR-300, Series L ................................
No. 5. Jurisdiction o f Treasury Department and O ffice o f T h e Alien Property Custodian
with respect to certain transactions involving patents, trademarks and copyrights
No. 5A. (Revoked) ..........................................................................................................................................
No. 5B. Special accounts established under regulations issued by the Alien Property Cus
todian ............................................................................................................................................
No. 6. Attachment o f Form TFEL-2 to obligations issued by governments and corporations
o f blocked countries .................................................................................................................
No. 7. Remittances to individuals in any part o f China, except Manchuria, under General
Licenses Nos. 32 and 33 to be effected as prescribed in paragraph (l)(c) o f General
License N o. 75..............................................................................................................................
N o. 7A. Remittances to M acao.....................................................................................................................
N o. 7B. Remittances to Switzerland under General License No. 3 2 .................................................
N o. 8. Revocation o f Japanese licenses and authorizations.............................................................
N o. 8A .C ertain general licenses, which were revoked by Public Cicular N o. 8, rein sta ted ...
N o. 9. Revocation o f licenses and authorizations regarding certain obligations o f G overn
ment o f Denmark and certain other obligors...................................................................
No. 10. Revocation and modification o f certain licenses involving H ong Kong and generally
licensed trade area.......................................................................................................................
No. 11. (Revoked) ..........................................................................................................................................
No. 12. Inclusion in "Proclaim ed List” o f names o f persons within neutral European
countries ......................................................................................................................................

58
58
58

58
59
59
60
60
61
62
62
63
64
64
64
64
64
65
65
65
65
65
66
67
67
68
68
69

71
71
71
71
71
71
72
72
72
72
73

73
73
74
74
74
74
74
75
75

TABLE O F C O N T E N T S— Continued
Public Circulars—Continued
N o. 13.
N o.
N o.
N o.
N o.
N o.

N o.

N o.
N o.
N o.
No.
N o.
N o.
No.
N o.
N o.
No.

Am endm ent o f General Licenses Nos. 13, 14, 15, 19, 21, and 27 by deleting certain
reporting req u irem en ts...................................................................................... ......................
14. Lim itations on acquisitions o f Securities for blocked accounts..........................................
15. Am endm ent o f General Licenses Nos. 49, 50, 52 and 70, requiring reports on Forms
TF R -149 and TFER-1 ...............................................................................................................
16. Extension o f Executive Order to British Malaya...................................................................
17. General Licenses Nos. 13, 15, 20, 21, and 53 n o longer applicable to Netherlands
East Indies ..................................................................................................................................
18. Standard o f conduct which United States concerns doing business within Latin
Am erica are required to follow with respect to transactions involving enemy
nationals ........................................................................................................................................
18A. Standard o f conduct which United States concerns located within Latin America
are required to follow with respect to transactions involving certain nationals o f
blocked countries ........................................................................................................................
19. Amendments o f General Licenses Nos. 4, 5, 13, 20, 53, 66, and 69, and General
R u ling N o. 11; Revocation o f General Licenses Nos. 11A and 77.............................
20. Adm inistration o f assets o f decedents’ estates under General License No. 30 A ...........
21. Certain transactions involving sub-accounts not authorized by certain general or
specific licenses ............................................................................................................................
22. Instructions for preparation o f reports on Form TFR-500, relating to property in
foreign countries, by persons subject to the jurisdiction o f the United States...........
23. W aiver o f certain provisions o f regulations..............................................................................
24. (Revoked) ..........................................................................................................................................
25. Certain com munications with liberated Italy and certain acts and transactions
exem pt from General R u lin g No. 11....................................................................................
26. Status o f N orthern Bukovina and Bessarabia under Executive Order No. 8389,
as amended, and General R u lin g N o. 11..............................................................................
27. Status under the order o f Syria and Lebanon and nationals th ereof..............................
28. Certain general licenses n ot applicable to Austria.................................................... ..

Public Interpretations
N o. 1. Subject: General License No. 2 7 ...................................................................................................
N o. 2. Subject: General License No. 5 3 ...................................................................................................
N o. 3. Subject: General Licenses Nos. 49, 50, 52 and 70, and Public Circular No. 15.............
N o. 4. Subject: Requirem ent o f Treasury license for com m unication with an enemy
national outside the United States........................................................................................
N o. 5. Subject: A pplication o f General R u lin g No. 11 to im ports or exports insured with
com panies which are enemy nationals or through agents w ho are enemy nationals
N o. 6. Subject: Sending securities, currency, checks, etc. to Sweden, Switzerland, Spain,
Portugal and U noccupied France..........................................................................................
N o. 7. Subject: Remittances under General Licenses Nos. 32 and 33............................................
N o. 8. Subject: Remittances to enemy prisoners o f war under General License N o. 32...........
N o. 9. Subject: A pplication o f General R u lin g No. II to M anaco................................................
N o. 10. Subject: Examination o f endorsement appearing on checks and drafts received
from a b r o a d ................................................................. ................................................................
N o. 11. Subject: Persons w ho may file application for licenses.......................................................
N o. 12. (Revoked) ..........................................................................................................................................
N o. 13. Subject: License not required to vote securities or to solicit proxies or other
authorizations with respect to the voting thereof.............................................................
N o. 14. Subject: Application o f General R u ling No. 17 to Bankers’ Acceptances.......................
No. 15. Subject: A pplication o f General R u lin g No. II, as amended, to D iplom atic R epre
sentatives o f the Vichy G overnm ent......................................................................................
N o. 16. (Revoked) ..........................................................................................................................................
N o. 17. Subject: Status o f members o f the armed forces o f the United States and United
States citizens accom panying such armed forces w hile in enemy territory...............
N o. 18. Subject: A pplication o f General License No. 5 to transactions incident to the pay
m ent o f customs duties, taxes and fees..................................................................................
Press Releases
No. 1. Reference—Executive O rder N o. 8389, As Am ended; Regulations A pproved June
14, 1941 ........................................................................................................................................
No. 2. Reference—General Licenses Nos. 49 and 50..........................................................................
No. 3. Reference—General License No. 5 1 ............................................................................................
No. 4. Reference—Regulations Approved June 14, 1941; Public Circular N o. 1 ........................
N o. 5. Reference—General License N o. 52............................................................................................
No. 6. Reference—Proclam ation; General License No. 53...............................................................
N o. 7. Reference—Executive Order N o. 8389, As Am ended; Regulations Approved July
26, 1941 ..........................................................................................................................................
No. 8. Reference—General License N o. 53............................................................................................
No. 9. Reference—General License No. 70............................................................................................
N o. 10. Reference—Regulations Approved June 14, 1941; General Licenses Nos. 42 and 68;
Public Circulars Nos. 1 and 4 ..................................................................................................
No. 11. Reference—Public Circular No. 6 ..............................................................................................
No. 12. Reference—Regulations Approved June 14, 1941; Public Circular N o. 1 .......................
N o. 13. Reference—General License No. 73............................................................................................
N o. 14. Reference—General Licenses Nos. 32 and 33............................................................................

75
75
76
76
76

77
78
79
80
80
80
81
81
81
81
81
82
82
82
82
82
82
83
83
83
83
83
83
84
84
84
84
84
84

85
85
85
86
86
86
87
87
88
88
89
89
89
90

TABLE O F C O N T E N T S — Continued
Press Releases—Continued
N o.
N o.
N o.
N o.
N o.
No.
No.
N o.
No.
N o.
No.
N o.
No.
No.
N o.
N o.
N o.
No.
N o.
No.
N o.
N o.
N o.
N o.
No.
No.
N o.
N o.
N o.
No.
N o.
N o.
No.
N o.
No.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
No.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.

15. Reference—General Licenses Nos. 58 and 75 .........................................................................
16. Reference—General Licenses Nos. 42 and 42A .......................................................................
17. Reference—Public Circular N o. 8 ................................................................................................
18. Reference—Section 3(a) T rading with the Enemy Act; General License Thereunder.
19. Reference—General License N o. 68A ........................................................................................
20. Reference—Public Circular N o. 8 A ............................................................................................
21. Reference—Public Circular N o. 9 ................................................................................................
22. Reference—Executive Order N o. 8389, As A m ended.............................................................
23. Reference—Public Circular No. 10........................... '................................................................
24. Reference—Public Circular N o. 11; General License No. 80..............................................
25. Reference—General R u lin g N o. 10........................................................................................
26. Reference—General R u lin g N o. 10............................................................................................
27. Reference—Public Circular No. 14............................................................................................
28. Reference—Public Circular N o. 4 B ............................................................................................
29. Reference—General Licenses Nos. 42, 42A, 68 and 68A .......................................................
30. Reference—General R u lin g No. 6 A ..........................................................................................
31. Reference—General Licenses Nos. 13, 15, 20, 21, and 53; Public Circular N o. 1 7 .. .
32. Reference—General R u lin g N o. 11; Communications R u lin g No. 1..............................
33. Reference—General R u lin g N o. 11; Public Circular No. 18............................................
34. Reference—General R u ling N o. 12............................................................................................
35. Reference—General R uling N o. 5 ...............................................................................................
36. Reference—General R u ling No. 13.............................................................................................
37. Statement issued by T h e W hite House with Reference to the Am endm ent o f
Executive Order N o. 9095, on July 6, 1942.......................................................................
38. Reference—General R u ling N o. 10A..........................................................................................
39. Reference—General R u ling No. 14..............................................................................................
40. Reference—Public Interpretation N o. 6 ....................................................................................
41. Reference—Public Circular N o. 4 C ............................................................................................
42. Reference—Public Circular No. 19; General R u ling N o. 11; General Licenses
Nos. 4, 5, 11A, 13, 20, 53, 66, 69, and 77................................................................................
43. Reference—General Rulings Nos. 5 and 14..............................................................................
44. Reference—General R u ling N o. 11..........................................................................................
45. Reference—General R u ling No. 15............................................................................................
46. Reference—Special Regulation N o. 1; Public Circular N o. 22..........................................
47. Reference—General R u lin g No. 5 A ......................................................................................
48. Reference—General R u ling N o. 11, As A m ended...................................................................
49. Reference—Consolidation o f General Licenses Nos. 13, 14, 18, 19, 21, 22, 40, 43, 62,
66, 69, and 81................................................................................................................................
50. Reference—General R uling N o. 17..............................................................................................
51. Reference—General License No. 32A, Certain remittances to Sicily for Necessary
L iving Expenses ..........................................................................................................................
52. Reference—General License N o. 32A, Certain remittances to specified liberated areas
in Sicily and Italy for necessary living expenses...............................................................
53. Reference—Im port Controls o f Art Objects..............................................................................
54. Reference—General R u ling No. I I / . ........................................................................................
55. Reference—General License No. 32A..........................................................................................
56. Reference—General License No. 32A and Public Circular N o. 25....................................
57. Reference—Certain Hawaiian currency and securities regulations revoked.................
58. Reference—General R u ling N o. 11; France rem oved from category o f “ Enemy T erritory” ............................................................................................................................................
59. Reference—General License N o. 32 A ..........................................................................................
60. Reference—General R u lin g N o. 14............................................................................................
61. Reference—General R u ling N o. II; Belgium rem oved from category o f "Enem y
T erritory” ......................................................................................................................................
62. Reference—General License N o. 32A..........................................................................................
63. Reference—General R u lin g N o. II ; Finland, Poland and other Baltic Areas rem oved
from category o f “ Enemy Territory” ......................................................................................
64. Reference—General R u lin g No. 11; Greece removed from category o f “ Enemy T erritory” ............................................................................................................................................
65. Reference—Payments from Blocked A ccounts.........................................................................
66. Public Circular N o. 25; General R uling N o. 11.....................................................................
67. Reference—General R u ling N o. I I ; Luxem bourg removed from category o f “ Enemy
Territory” ....................................................................................................................................
68. Reference—General License N o. 90............................................................................................
69. Reference—General License No. 91............................................................................................
70. Reference—General R u ling N o. 18............................................................................................
71. Reference—General R u ling N o. 11............................................................................................

v ii

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94
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ill
111
Ill
112
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114
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SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT
(As Amended by Title III of The First War Powers Act, 1941)
[ P u b l i c — No. 3 5 4 —7 7 t h C o n g r e s s ]
[55 Stat. 838]

(b)
(1) During the time of war or during any other period of national emergency declared by the
President, the President may, through any agency that he may designate, or otherwise, and under such rules
and regulations as he may prescribe, by means of instructions, licenses, or otherwise—
(A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or
payments between, by, through, or to any banking institution, and the importing, exporting, hoarding,
melting, or earmarking of gold or silver coin or bullion, currency or securities, and
(B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition
holding, witholding, use, transfer, withdrawal, transportation, importation or exportation of, or dealing
in, or exercising any right, power, or privilege with respect to, or transactions involving, any property
in which any foreign country or a national thereof has any interest,
by any person, or with respect to any property, subject to the jurisdiction of the United States; and any
property or interest of any foreign country or national thereof shall vest, when, as, and upon the terms,
directed by the President, in such agency or person as may be designated from time to time by the President,
and upon such terms and conditions as the President may prescribe such interest or property shall be held,
used, administered, liquidated, sold, or otherwise dealt with in the interest of and for the benefit of the
United States, and such designated agency or person may perform any and all acts incident to the accom
plishment or furtherance of these purposes; and the President shall, in the manner hereinabove provided,
require any person to keep a full record of, and to furnish under oath, in the form of reports or otherwise,
complete information relative to any act or transaction referred to in this subdivision either before, during,
or after the completion thereof, or relative to any interest in foreign property, or relative to any property
in which any foreign country or any national thereof has or has had any interest, or as may be otherwise
necessary to enforce the provisions of this subdivision, and in any case in which a report could be required,
the President may, in the manner hereinabove provided, require the production, or if necessary to the
national security or defense, the seizure, of any books of account, records, contracts, letters, memoranda, or
other papers, in the custody or control of such person; and the President may, in the manner hereinabove
provided, take other and further measures not inconsistent herewith for the enforcement of this subdivision.
(2) Any payment, conveyance, transfer, assignment, or delivery of property or interest therein, made to
or for the account of the United States, or as otherwise directed, pursuant to this subdivision or any rule,
regulation, instruction, or direction issued hereunder shall to the extent thereof be a full acquittance and
discharge for all purposes of the obligation of the person making the same; and no person shall be held
liable in any court for or in respect to anything done or omitted in good faith in connection with the
administration of, or in pursuance of and in reliance on, this subdivision, or any rule, regulation, instruc
tion, or direction issued hereunder.
(3 ) As used in this subdivision the term “ United States” means the United States and any place
subject to the jurisdiction thereof, including the Philippine Islands, and the several courts of first instance
of the Commonwealth of the Philippine Islands shall have jurisdiction in all cases, civil or criminal, arising
under this subdivision in the Philippine Islands and concurrent jurisdiction with the district courts of the
United States of all cases, civil or criminal, arising upon the high seas: Provided, however, That the fore
going shall not be construed as a limitation upon the power of the President, which is hereby conferred, to
prescribe from time to time, definitions, not inconsistent with the purposes of this subdivision, for any or all
of the terms used in this subdivision.
Whoever willfully violates any of the provisions of this subdivision or of any license, order, rule or
regulation issued thereunder, shall, upon conviction, be fined not more than §10,000, or, if a natural person,
may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corpora
tion who knowingly participates in such violation may be punished by a like fine, imprisonment, or both.
As used in this subdivision the term “ person” means an individual partnership, association, or corporation.
SECTION 302 OF TITLE III, FIRST W A R POWERS ACT, 1941
[55 Stat. 840]

All acts, actions, regulations, rules, orders, and proclamations heretofore taken, promulgated, made,
or issued by, or pursuant to the direction of, the President or the Secretary of the Treasury under the
Trading With the Enemy Act of October 6, 1917 (40 Stat. 411), as amended, which would have been
authorized if the provision of this Act and the amendments made by it had been in effect, are hereby
approved, ratified, and confirmed.

SE C T IO N S 2, 3(a) A N D 3(c) O F THE T R A D IN G W IT H THE EN EM Y A C T
[ P u b l i c — No. 9 1 — 6 5 t h C o n g r e s s ]
[40 Stat. 411]

S e c . 2. That the word "enemy,” as used herein, shall be deemed t o mean, for the purposes of such
trading and of this Act—
(a) Any individual, partnership, or other body of individuals, of any nationality, resident within
the territory (including that occupied by the military and naval forces) of any nation with which the
United States is at war, or resident outside the United States and doing business within such territory,
and any corporation incorporated within such territory of any nation with which the United States is
at war or incorporated within any country other than the United States and doing business within
such territory.
(b) The government of any nation with which the United States is at war, or any political or
municipal subdivision thereof, or any officer, official, agent, or agency thereof.
(c) Such other individuals, or body or class of individuals, as may be natives, citizens, or subjects
o f any nation with which the United States is at war, other than citizens of the United States, wherever
resident or wherever doing business, as the President, if he shall find the safety of the United States
or the successful prosecution of the war shall so require, may, by proclamation, include within the
term “ enemy.”

The words “ ally of enemy,” as used herein, shall be deemed to mean—
(a) Any individual, partnership, or other body of individuals, of any nationality, resident within
the territory (including that occupied by the military and naval forces) of any nation which is an ally
of a nation with which the United States is at war, or resident outside the United States and doing
business within such territory, and any corporation incorporated within such territory of such ally
nation, or incorporated within any country other than the United States and doing business within
such territory.
(b) The government of any nation*which is an ally of a nation with which the United States is
at war, or any political or municipal subdivision of such ally nation, or any officer, official, agent, or
agency thereof.
(c) Such other individuals, or body or class of individuals, as may be natives, citizens, or subjects
of any nation which is an ally of a nation with which the United States is at war, other than citizens of
the United States, wherever resident or wherever doing business, as the President, if he shall find the
safety of the United States or the successful prosecution of the war shall so require, may, by proclama
tion, include within the term “ ally of enemy.”
The word “ person” as used herein, shall be deemed to mean an individual, partnership, association,
company, or other unincorporated body of individuals, or corporation or body politic.
The words "United States,” as used herein, shall be deemed to mean all land and water, continental
or insular, in any way within the jurisdiction of the United States or occupied by the military or naval
forces thereof.
The words “ the beginning of the war,” as used herein, shall be deemed to mean midnight ending
the day on which Congress has declared or shall declare war or the existence of a state of war.
The words “ end of the war,” as used herein, shall be deemed to mean the date of proclamation of
exchange of ratifications of the treaty of peace, unless the President shall, by proclamation, declare a prior
date, in which case the date so proclaimed shall be deemed to be the “ end of the war” within the
meaning of this Act.
The words “ bank or banks,” as used herein, shall be deemed to mean and include national banks, State
banks, trust companies, or other banks or banking associations doing business under the laws of the United
States, or of any State of the United States.
The words “ to trade,” as used herein, shall be deemed to mean—
(a) Pay, satisfy, compromise, or give security for the payment or satisfaction of any debt or
obligation.
(b) Draw, accept, pay, present for acceptance or payment, or indorse any negotiable instrument
or chose in action.
(c) Enter into, carry on, complete, or perform any contract, agreement, or obligation.
(d) Buy or sell, loan or extend credit, trade in, deal with, exchange, transmit, transfer, assign, or
otherwise dispose of, or receive any form of property.
(e) T o have any form of business or commercial communication or intercourse with.

3. That it shall be unlawful—
(a)
For any person in the United States, except with a license of the President, granted to such
person, or to the enemy, or ally of enemy, as provided in this Act, to trade, or attempt to trade, either
directly or indirectly, with, to, or from, or for, or on account of, or on behalf of, or for the benefit of,
any other person, with knowledge or reasonable cause to believe that such other person is an enemy
or ally of enemy, or is conducting or taking part in such trade, directly or indirectly, for, or on
account of, or on behalf of, or for the benefit of, an enemy or ally of enemy.
S ec.

•

(c)
For any person (other than a person in the service of the United States Government or of the
Government of any nation, except that of an enemy or ally of enemy nation, and other than such
persons or classes of persons as may be exempted hereunder by the President or by such person as he
may direct), to send, or take out of, or bring into, or attempt to send, or take out of, or bring into the
United States, any letter or other writing or tangible form of communication, except in the regular
course of the mail; and it shall be unlawful for any person to send, take, or transmit, or attempt to
send, take, or transmit out of the United States, any letter or other writing, book, map, plan, or other
paper, picture, or any telegram, cablegram, or wireless message, or other form of communication
intended for or to be delivered, directly or indirectly, to an enemy or ally of enemy: Provided, however,
That any person may send, take, or transmit out of the United States anything herein forbidden if he
shall first submit the same to the President, or to such officer as the President may direct, and shall
obtain the license or consent of the President, under such rules and regulations, and with such exemp
tions, as shall be prescribed by the President.
[See T . D . 50525 as amended by T . D . 50529, 50559. and 50580 (6 F. R. 6404, 6455, 7 F. R. 616, 1973) ; T . D . 50536, as amended by T . D .
50763 (6 F. R. 6807, 7 F. R . 9 4 7 8 ).]

GENERAL LICENSE UNDER SECTION 3(a) OF THE TRADING WITH THE ENEMY ACT
By virtue of and pursuant to the authority vested in me by Sections 3 and 5 of the Trading with the
enemy Act, as amended, and by virtue of all other authority vested in me, I, Franklin D. Roosevelt,
President of the United States of America, do prescribe the following:
A general license is hereby granted licensing any transaction or act prohibited by Section 3(a) of the
Trading with the enemy Act, as amended: Provided, however, That such transaction or act is authorized
by the Secretary of the Treasury by means of regulations, rulings, instructions, licenses or otherwise, pur
suant to Executive Order No. 8389, as amended.
FRANKLIN D. ROOSEVELT.
T

h it e

ouse,

D ecem ber 13, 1941.

M o r g e n t h a u , J r .,

Secretary of the Treasury.
F

r a n c is

id d l e ,

A ttorn ey General o f the United States.
{See Press Release N o, 18.1

EXECUTIVE ORDER NO. 8389, AS AMENDED
REGULATING TRANSACTIONS IN FOREIGN EXCHANGE AND FOREIGN-OWNED PROPERTY, PROVIDING
FOR THE REPORTING OF ALL FOREIGN-OWNED PROPERTY AND RELATED MATTERS
[Executive Order N o. 8389, dated A pril 10, 1940 (5 F. R . 1400), was amended May 10, 1940 (5 F. R . 1677), June 17, 1940
(5 F. R. 2279), July 15, 1940 (5 F. R. 2586), July 25, 1940 (5 F. R . 2667), Oct. 10, 1940 (5 F. R. 4062), March 4, 1941 (6 F. R .
1285), March 13, 1941 (6 F. R . 1443), March 24, 1941 (6 F. R. 1622), A pril 28, 1941 (6 F. R . 2187), June 14, 1941 (6 F. R . 2897),
July 26, 1941 (6 F. R . 3715), July 30, 1941 (6 F. R. 3823), Sept. 15, 1941 (6 F. R . 4795), Dec. 9, 1941 (6 F. R . 6348), Dec. 17,
1941 (6 F. R . 6530), Dec. 19, 1941 (6 F. R . 6625), Dec. 26, 1941 (6 F. R . 6785). T h e original text and intermediate amendments
prior to June 14, 1941 are om itted from this publication. Following is the text o f Executive Order N o. 8389, as amended
by Executive O rder N o. 8785, dated June 14, 1941, and as further amended by Executive Order N o. 8832, dated July 26, 1941,
Executive O rder No. 8963, dated Dec. 9, 1941, Executive Order N o. 8982, dated Dec. 17, 1941, Executive O rder N o. 8985, dated
Dec. 19, 1941, and Executive O rder No. 8998, dated Dec. 26, 1941. T h e amendments effected by the Executive Orders issued
after June 14,1941 are indicated by foot-notes.]

By virtue of and pursuant to the authority vested in me by Section 5 (b) of the Act of October 6, 1917
(40 Stat. 415), as amended, by virtue of all other authority vested in me, and by virtue of the existence of
a period of unlimited national emergency, and finding that this Order is in the public interest and is

necessary in the interest of national defense and security, I, Franklin D. Roosevelt, President of the United
States of America, do prescribe the following:
Executive Order N o. 8389 of April 10, 1940, as amended, is amended to read as follows:
S e c t i o n 1. A ll of the following transactions are prohibited, except as specifically authorized by
the Secretary of the Treasury by means of regulations, rulings, instructions, licenses, or otherwise, if (i)
such transactions are by, or on behalf of, or pursuant to the direction of any foreign country designated
in this Order, or any national thereof, or (ii) such transactions involve property in which any foreign
country designated in this Order, or any national thereof, has at any time on or since the effective date
of this Order had any interest of any nature whatsoever, direct or indirect:

A . A ll transfers of credit between any banking institutions within the United States; and all
transfers of credit between any banking institution within the United States and any banking
institution outside the United States (including any principal, agent, home office, branch, or
correspondent outside the United States, of a banking institution within the United States);
B. A ll payments by or to any banking institution within the United States;
C. A ll transactions in foreign exchange by any person within the United States;
D. T he export or withdrawal from the United States, or the earmarking of gold or silver coin
or bullion or currency by any person within the United States;
E. A ll transfers, withdrawals or exportations of, or dealings in, any evidences of indebtedness
or evidences of ownership of property by any person within the United States; and
F. Any transaction for the purpose or which has the effect of evading or avoiding the
foregoing prohibitions.
S e c t i o n 2.

A . A ll of the following transactions are prohibited, except as specifically authorized by the
Secretary of the Treasury by means of regulations, rulings, instructions, licenses, or otherwise:
(1) T h e acquisition, disposition or transfer of, or other dealing in, or with respect to,
any security or evidence thereof on which there is stamped or imprinted, or to which there
is affixed or otherwise attached, a tax stamp or other stamp of a foreign country designated in
this Order or a notarial or similar seal which by its contents indicates that it was stamped,
imprinted, affixed or attached within such foreign country, or where the attendant circum
stances disclose or indicate that such stamp or seal may, at any time, have been stamped,
imprinted, affixed or attached thereto; and
(2) T h e acquisition by, or transfer to, any person within the United States of any interest
in any security or evidence thereof if the attendant circumstances disclose or indicate that the
security or evidence thereof is not physically situated within the United States.
B. T h e Secretary o f the Treasury may investigate, regulate, or prohibit under such regula
tions, rulings, or instructions as he may prescribe, by means of licenses or otherwise, the sending,
mailing, importing or otherwise bringing, directly or indirectly, into the United States, from any
foreign country, of any securities or evidences thereof or the receiving or holding in the United
States of any securities or evidences thereof so brought into the United States.
S e c t i o n 3 . T h e term "foreign country designated in this Order” means a foreign country included
in the following schedule, and the term “ effective date of this Order” means with respect to any such
foreign country, or any national thereof, the date specified in the following schedule:

(a)

April 8, 1 9 4 0 Norway and
Denmark; f1]
(b) May 10, 1 9 4 0 T h e Netherlands,

(e) October 9, 1 9 4 0 Rumania;
(f) March 4, 1941—
Bulgaria;
/g\ March 13> 1941_

Belgium and
, N

(c)

Hungary;

L1? ei^
UrS;
June
1940—

(h) March 24, 1 9 4 1 Yugoslavia;

France (including Monaco);

(d) July 10, 1 9 4 0 Latvia,
Estonia and
Lithuania;

()

P ] Denmark docs not include Iceland. See General Ruling N o. t.

iq4,

Greece;

(j) June 14, 1941*—
Albania,
Andorra,
Austria,
Czechoslovakia,
Danzig,
Finland,
Germany,
Italy,
Liechtenstein,
Poland,
Portugal,

San Marino,
Spain,
Sweden,
Switzerland, and
Union of Soviet Socialist Republics;
(k) June 14, 1941 [2_J—
China, and
Japan;
(1) June 14, 1941 [:,J—
Thailand;
(m) June 14, 1941 [•*]—
Hong Kong.

T h e “ effective date of this Order” with respect to any foreign country not designated in this Order
shall be deemed to be June 14, 1941.
S e c t i o n 4.

A . T h e Secretary of the Treasury and/or the Attorney General may require, by means of
regulations, rulings, instructions, or otherwise, any person to keep a full record of, and to furnish
under oath, in the form of reports or otherwise, from time to time and at any time or times, com
plete information relative to, any transaction referred to in section 5 (b) of the Act of October 6,
1917 (40 Stat. 415), as amended, or relative to any property in which any foreign country or any
national thereof has any interest of any nature whatsoever, direct or indirect, including the pro
duction of any books of account, contracts, letters, or other papers, in connection therewith, in the
custody or control of such person, either before or after such transaction is completed; and the
Secretary of the Treasury and/or the Attorney General may, through any agency, investigate any
such transaction or act, or any violation of the provisions of this Order.
B. Every person engaging in any of the transactions referred to in sections 1 and 2 of this
Order shall keep a full record of each such transaction engaged in by him, regardless of whether such
transaction is effected pursuant to license or otherwise, and such record shall be available for
examination for at least one year after the date of such transaction.
S e c t i o n 5.

A.
As used in the first paragraph of section 1 of this Order “ transactions [which] involve
property in which any foreign country designated in this Order, or any national thereof, has * * *
any interest of any nature whatsoever, direct or indirect,” shall include, but not by way of limita
tion (i) any payment or transfer to any such foreign country or national thereof, (ii) any export or
withdrawal from the United States to such foreign country, and (iii) any transfer of credit, or
payment of an obligation, expressed in terms of the currency of such foreign country.
B. T h e term “ United States” means the United States and any place subject to the jurisdic
tion thereof, and the term “ continental United States” means the states of the United States, the
District of Columbia, and the Territory of Alaska; provided, however, that for the purposes of
this Order the term “ United States” shall not be deemed to include any territory included within
the term “ foreign country” as defined in paragraph D of this section.[5]
C. T he term “ person” means an individual, partnership, association, corporation, or other
organization.
D.

T h e term "foreign country” shall include, but not by way of limitation,

(i) T h e state and the government thereof on the effective date of this Order as well as
any political subdivision, agency, or instrumentality thereof or any territiory, dependency,
colony, protectorate, mandate, dominion, possession or place subject to the jurisdiction thereof,
(ii) Any other government (including any political subdivision, agency, or instru
mentality thereof) to the extent and only to the extent that such government exercises or
claims to exercise de jure or de facto sovereignty over the area which on such effective date
constituted such foreign country, and
(iii) Any territory which on or since the effective date of this Order is controlled or
occupied by the military, naval or police forces or other authority of such foreign country,[6]
• See Press Release N o. J.
1*3 Subdivison (k ) added by Executive Order N o. 8832, dated July 26, 1941 (6 F. R . 3 715). See Press Release N o . 7.
[ 8] Subdivision (1) added bv Executive Order N o . 8963, dated December 9, 1941 (6 F. R. 6348).
[ 4] Subdivision (m } added by Executive Order N o. 8998. dated December 26, 1941 (6 F. R. 6783). See Press Release N o . 22.
[®] Paragraph B of section 5 amended by Executive Order N o. 8998, dated December 26, 1941 (6 F. R. 6 78 5 ). See Public Circulars N os. 1 1 and
1 6 ; Press Releases N os. 22 and 24. The term * United States” does not include the Philippine Islands.
[•] Subdivisions (iii) and (iv ) o f paragraph D of section 5 substituted in lieu o f subdivision ( i i i) , and last sentence of paragraph D added by
Executive Order N o. 8998. dated December 26, 1941 (6 F. R. 678 5 ). Former subdivision (iii) 'Became subdivision ( i v ) . The Philippine Islands and
British Malaya are deemed foreign countries separately designated in the Order. See Public Circulars N os. 1 1 and 1 6; Press Releases N os. 22 and 24.

(iv) Any person to the extent that such person is, or has been, or to the extent that there
is reasonable cause to believe that such person is, or has been, since such effective date, acting
or purporting to act directly or indirectly for the benefit or on behalf of any of the foregoing. [6]
H ong Kong shall be deemed to be a foreign country within the meaning of this sub
division. [8]
E.

T h e term "national” shall include,
(i) Any person who has been domiciled in, or a subject, citizen or resident of a foreign
country at any time on or since the effective date of this Order,
(ii) Any partnership, association, corporation or other organization, organized under the
laws of, or which on or since the effective date of this Order had or has had its principal place
of business in such foreign country, or which on or since such effective date was or has been
controlled by, or a substantial part of the stock, shares, bonds, debentures, notes, drafts, or
other securities or obligations of which, was or has been owned or controlled by, directly or
indirectly, such foreign country and/or one or more nationals thereof as herein defined,
(iii) Any person to the extent that such person is, or has been, since such effective date,
acting or purporting to act directly or indirectly for the benefit or on behalf of any national
of such foreign country, and
(iv) Any other person who there is reasonable cause to believe is a “ national” as herein
defined.
In any case in which by virtue of the foregoing definition a person is a national of more than one
foreign country, such person shall be deemed to be a national of each such foreign country. In any
case in which the combined interests of two or more foreign countries designated in this Order
and/or nationals thereof are sufficient in the aggregate to constitute, within the meaning of the
foregoing, control or 25 per centum or more of the stock, shares, bonds, debentures, notes, drafts,
or other securities or obligations of a partnership, association, corporation or other organization,
but such control or a substantial part of such stock, shares, bonds, debentures, notes, drafts, or other
securities or obligations is not held by any one such foreign country and /or national thereof, such
partnership, association, corporation or other organization shall be deemed to be a national of
each of such foreign countries. T h e Secretary of the Treasury shall have full power to determine
that any person is or shall be deemed to be a “ national” within the meaning of this definition, and
the foreign country of which such person is or shall be deemed to be a national. W ithout limita
tion of the foregoing, the term “ national” shall also include any other person who is determined by
the Secretary of the Treasury to be, or to have been, since such effective date, acting or purporting
to act directly or indirectly for the benefit or under the direction of a foreign country designated in
this Order or national thereof, as herein defined.
F. T h e term “ banking institution” as used in this Order shall include any person engaged
primarily or incidentally in the business of banking, of granting or transferring credits, or of pur
chasing or selling foreign exchange or procuring purchasers and sellers thereof, as principal or
agent, or any person holding credits for others as a direct or incidental part of his business, or
broker; and, each principal, agent, home office, branch or correspondent of any person so engaged
shall be regarded as a separate “ banking institution.”
G. T h e term “ this Order,” as used herein, shall mean Executive Order N o. 8389 of April 10,
1940, as amended.
S e c t i o n 6. Executive Order No. 8389 of April 10, 1940, as amended, shall no longer be deemed to
be an amendment to or a part of Executive Order N o. 6560 of January 15, 1934. Executive Order No.
6560 of January 15, 1934, and the Regulations of November 12, 1934, are hereby modified in so far as
they are inconsistent with the provisions of this Order, and except as so modified, continue in full force
and effect. Nothing herein shall be deemed to revoke any license, ruling, or instruction now in effect
and issued pursuant to Executive Order N o. 6560 of January 15, 1934, as amended, or pursuant to this
Order; provided, however, that all such licenses, rulings, or instructions shall be subject to the pro
visions hereof. Any amendment, modification or revocation by or pursuant to the provisions of this
Order of any orders, regulations, rulings, instructions or licenses shall not affect any act done, or any
suit or proceeding had or commenced in any civil or criminal case prior to such amendment, modifica
tion or revocation, and all penalties, forfeitures and liabilities under any such orders, regulations,
rulings, instructions or licenses shall continue and may be enforced as if such amendment, modification
or revocation had not been made.
S e c . 7. W ithout limitation as to any other powers or authority of the Secretary of the Treasury
or the Attorney General under any other provision of this Order, the Secretary of the Treasury is
authorized and empowered to prescribe from time to time regulations, rulings, and instructions to carry
out the purposes of this Order and to provide therein or otherwise the conditions under which licenses
may be granted by or through such officers Or agencies as the Secretary of the Treasury may designate,

and the decision of the Secretary with respect to the granting, denial or other disposition of an appli
cation or license shall be final.
S e c . 8.

Section 5(b) of the Act of October 6, 1917, as amended, provides in part:

*
* Whoever willfully violates any of the provisions of this subdivision or of any license,
order, rule or regulation issued thereunder, shall, upon conviction, be fined not more than
$10,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any
officer, director, or agent of any corporation who knowingly participates in such violation may be
punished by a like fine, imprisonment, or both.”

Sec. 9. This Order and any regulations, rulings, licenses, or instructions issued hereunder may be
amended, modified or revoked at any time.
F r a n k l i n D. R o o s e v e l t
T

h it e

ouse ,

June 14, 1941.

EXECUTIVE ORDER NO. 9193
AMENDING EXECUTIVE ORDER NO. 9095 ESTABLISHING THE OFFICE OF ALIEN PROPERTY CUSTODIAN
AND DEFINING ITS FUNCTIONS AND DUTIES AND RELATED MATTERS
[Executive O rder No. 9095 dated March 11, 1942 (7 F.R. 1971), was amended July 6, 1942, by Executive O rder
(7 F. R . 5205). T h e original text is om itted from this publication. Following is the text o f Executive Order No. 9193.]

No. 9193

By virtue of the authority vested in me by the Constitution, by the First W a r Powers Act, 1941, by the
Trading with the enemy Act of October 6, 1917, as amended, and as President of the United States, it is
hereby ordered as follows:
Executive Order No. 9095 of March 11, 1942, is amended to read as follows:
1. There is hereby established in the Office for Emergency Management of the Executive Office of
the President the Office of Alien Property Custodian, at the head of which shall be an Alien Property
Custodian appointed by the President. T h e Alien Property Custodian shall receive compensation at
such rate as the President shall approve and in addition shall be entitled to actual and necessary trans
portation, subsistence, and other expenses incidental to the performance of his duties. W ithin the limi
tation of such funds as may be made available for that purpose, the Alien Property Custodian may
appoint assistants and other personnel and delegate to them such functions as he may deem necessary to
carry out the provisions of this Executive Order.
2. T he Alien Property Custodian is authorized and empowered to take such action as he deems
necessary in the national interest, including, but not limited to, the power to direct, manage, supervise,
control or vest, with respect to:
(a) any business enterprise within the United States which is a national of a designated enemy
country and any property of any nature whatsoever owned or controlled by, payable or deliverable
to, held on behalf of or on account of or owing to or which is evidence of ownership or control of
any such business enterprise, and any interest of any nature whatsoever in such business enterprise
held by an enemy country or national thereof;
(b) any other business enterprise within the United States which is a national of a foreign
country and any property of any nature whatsoever owned or controlled by, payable or deliverable
to, held on behalf of or on account of or owing to or which is evidence of ownership or control of
any such business enterprise, and any interest of any nature whatsoever in such business enterprise
held by a foreign country or national thereof, when it is determined by the Custodian and he has
certified to the Secretary of the Treasury that it is necessary in the national interest, with respect to
such business enterprise, either (i) to provide for the protection of the property, (ii) to change per
sonnel or supervise the employment policies, (iii) to liquidate, reorganize, or sell, (iv) to direct the
management in respect to operations, or (v) to vest;
(c) any other property within the United States owned or controlled by a designated enemy
country or national thereof, not including in such other property, however, cash, bullion, moneys,
currencies, deposits, credits, credit instruments, foreign exchange and securities except to the extent
that the Alien Property Custodian determines that such cash, bullion, moneys, currencies, deposits,
credits, credit instruments, foreign exchange and securities are necessary for the maintenance or
safeguarding of other property belonging to the same designated enemy country or the same
national thereof and subject to vesting pursuant to section 2 hereof;
(d ) an y p a te n t, p a te n t a p p lic a t io n , d esign p a ten t, d e s ig n p a te n t a p p lic a t io n , c o p y r ig h t, c o p y
r ig h t a p p lic a t io n , tra d em a rk o r tra d e m a rk a p p lic a t io n o r r ig h t r e la te d th e r e to in w h ic h a n y fo r e ig n
c o u n tr y Or n a tio n a l t h e r e o f has a n y in terest a n d a n y p r o p e r t y o f a n y n a tu r e w h a ts o e v e r (in c lu d in g ,

without limitation, royalties and license fees) payable or held with respect thereto, and any interest
o f any nature whatsoever held therein by any foreign country or national thereof;
(e) any ship or vessel or interest therein, in which any foreign country or national thereof has
an interest; and
(f) any property o f any nature whatsoever which is in the process o f administration by any
person acting under judicial supervision or which is in partition, libel, condem nation or other
similar proceedings and which is payable or deliverable to, or claim ed by, a designated enemy
country or national thereof.
W hen the Alien Property Custodian determines to exercise any power and authority conferred upon
him by this section with respect to any o f the foregoing property over which the Secretary o f the
Treasury is exercising any control and so notifies the Secretary o f the Treasury in writing, the Secretary
o f the Treasury shall release all control o f such property, except as authorized or directed by the A lien
Property Custodian.
3. Subject to the provision o f this Executive Order, all powers and authority conferred u pon me
by sections 3(a) and 5(b) o f the T rad ing with the enemy Act, as amended, are hereby delegated to the
Secretary o f the Treasury or any person, agency, or instrumentality designated by him; provided, how
ever, that when any property or interest, not belonging to a foreign government or central bank, shall
be vested by the Secretary o f the Treasury, such property or interest shall be vested in, and dealt with
by, the A lien Property Custodian u pon the terms directed by the Secretary o f the Treasury. Except as
otherwise provided herein, this Executive Order shall not be deemed to m odify or amend Executive
O rder N o. 8389, as amended, or the President’s Proclam ation o f July 17, 1941, or Executive Order No.
8839, as amended, or the regulations, rulings, licenses and other action taken thereunder, or in con
nection therewith.
4. W ithout lim itation as to any other powers or authority o f the Secretary o f the Treasury or the
A lien Property Custodian under any other provision o f this Executive Order, the Secretary o f the
Treasury and the A lien Property Custodian are authorized and empowered, either jointly or severally,
to prescribe from time to time, regulations, rulings, and instructions to carry out the purposes o f this
Executive Order. T h e Secretary o f the Treasury and the A lien Property Custodian each shall make
available to the other all inform ation in his files to enable the other to discharge his functions, and shall
keep each other currently inform ed as to investigations being conducted with respect to enemy owner
ship or control o f business enterprises within the U nited States.
5. T h e A lien Property Custodian is authorized to issue appropriate regulations governing the
service o f process or notice u pon any person within any designated enemy country or any enemyoccu pied territory in connection with any court or administrative action or proceeding within the
U nited States. T h e A lien Property Custodian also is authorized to take such other and further measures
in connection with representing any such person in any such action or proceeding as in his judgm ent
and discretion is or may be in the interest o f the U nited States. If, as a result o f any such action or pro
ceeding, any such person obtains, or is determined to have, an interest in any property (including money
judgments), such property, less an amount equal to the costs and ei oenses incurred by the A lien
Property Custodian in such action or proceeding, shall be subject to th* provisions o f Executive Order
N o. 8389, as amended, provided, however, that this shall not be d eem ed! i lim it the powers o f the A lien
Property Custodian under section 2 o f this Order; and provided furthe that the A lien Property Cus
todian may vest an amount o f such property equal to the costs and t penses incurred by the Alien
Property Custodian in such action or proceeding.
6. T o enable the A lien Property Custodian to carry out his functii; s under this Executive Order,
there are hereby delegated to the A lien Property Custodian or any pel on, agency or instrumentality
designated by him all powers and authority conferred upon me by secti< t 5(b) o f the T rad in g with the
enemy Act, as amended, including, but not lim ited to, the pow er to make such investigations and
require such reports as he deems necessary or appropriate to determi oe whether any enterprise or
property should be subject to his jurisdiction and control under this Ex« aitive Order. T h e powers and
authority conferred u pon the A lien Property Custodian by Executive Order N o. 9142 shall be
administered by him in conform ity with the provisions o f this Executive Order.
7. In the exercise o f the authority herein delegated, the A lien P rop arty Custodian shall be subject
to the provisions o f Executive Order N o. 8839 o f July 30, 1941, and shall designate a representative to
the Board o f E conom ic W arfare in accordance with section 6 thereof.
8. A ll records and other property (including office equipm ent) o f tli , Treasury Department which
are used primarily in the administration o f powers and duties to be exercised by the A lien Property
Custodian, and such personnel as is used prim arily in the administrati jn o f such powers and duties
and which was hired by the Treasury Department after September 1, 1941 (including officers whose
chief duties relate to the administration o f such powers and duties), as th Secretary o f the Treasury and
the A lien Property Custodian shall join tly certify for transfer, shall b e «jransferred to the Office o f the
Alien Property Custodian. In the event o f disagreement concerning mhe transfer o f any personnel,

records, or property, the determination shall be made by the Director o£ the Bureau o f the Budget,
pursuant to the form ula here prescribed. Any personnel transferred pursuant to this Executive Order
shall be transferred without loss o f such C ivil Service status or eligibility therefor as they may have.
9. This Executive Order shall not be deemed to m odify or amend Executive Order N o. 8843 of
August 9, 1941, and the regulations, rulings, licenses and other action taken thereunder. Any and all
action heretofore taken by the Secretary o f the Treasury or the A lien Property Custodian, or by any
person, agency, or instrumentality designated by either o f them, pursuant to sections 3(a) and 5(b) o f
the T rad in g with the enemy Act, as amended, or pursuant to prior Executive Orders, and any and all
action heretofore taken by the Board o f Governors o f the Federal Reserve System pursuant to Executive
Order N o. 8843 o f August 9, 1941, are hereby confirmed and ratified.
10. For the purpose o f this Executive Order:
(a) T h e term “ designated enemy country” shall mean any foreign country against which the
United States has declared the existence of a state o f war (Germany, Italy, Japan, Bulgaria,
Hungary and Rum ania) and any other country with which the United States is at war in the
future. T h e term “ national” shall have the meaning prescribed in section 5 o f Executive Order
N o. 8389, as amended, provided, however, that persons not within designated enemy countries
(even though they may be within enemy-occupied countries or areas) shall not be deemed to be
nationals o f a designated enemy country unless the A lien Property Custodian determines: (i) that
such person is controlled by or acting for or on behalf o f (including cloaks for) a designated enemy
country or a person within such country; or (ii) that such person is a citizen or subject o f a desig
nated enemy country and within an enemy-occupied country or area; or (iir) that the national
interest o f the U nited States requires that such person be treated as a national o f a designated
enemy country. For the purpose o f this Executive Order any determination by the A lien Property
Custodian that any property or interest o f any foreign country or national thereof is the property or
interest o f a designated enemy country or national thereof shall be final and conclusive as to the
power o f the A lien Property Custodian to exercise any o f the power or authority conferred upon
me by section 5(b) o f the Trading with the enemy Act, as amended.
(b) T h e term “ business enterprise within the U nited States” shall mean any individual pro
prietorship, partnership, corporation or other organization primarily engaged in the conduct o f
a business within the U nited States, and any other individual proprietorship, partnership, corpora
tion or other organization to the extent that it has an established office within the U nited States
engaged in the conduct o f business within the U nited States.
11. T h e Secretary o f the Treasury or the A lien Property Custodian, as the case may be, shall,
except as otherwise agreed to by the Secretary o f State, consult with the Secretary o f State before vesting
any property or interest pursuant to this Executive Order, and the Secretary o f the Treasury shall con
sult with the Secretary o f State before issuing any Order adding any additional foreign countries to
section 3 o f Executive O rder N o. 8389, as amended.
12. Any orders, regulations, rulings, instruction, licenses or other actions issued or taken by any
person, agency or instrumentality referred to in this Executive Order, shall be final and conclusive as
to the power o f such person, agency or instrumentality to exercise any o f the power o r authority con
ferred upon me by sections 3(a) and 5(b) o f the T rad in g with the enemy Act, as amended; and to the
extent necessary and appropriate to enable them to perform their duties and functions hereunder, the
Secretary o f the Treasury and the A lien Property Custodian shall be deemed to be authorized to exer
cise severally any and all authority, rights, privileges and powers conferred on the President by sections
3(a) and 5(b) o f the T rading with the enemy Act o f O ctober 6, 1917, as amended, and by sections 301
and 302 o f T itle III o f the First W ar Powers Act, 1941, approved December 18, 1941. N o persons
affected by any order, regulation, ruling, instruction, license or other action issued or taken by either the
Secretary o f the Treasury or the A lien Property Custodian shall be entitled to challenge the validity
thereof or otherwise excuse his actions, or failure to act, on the ground that pursuant to the provisions
o f this Executive Order, such order, regulation, ruling, instruction, license or other action was within
the jurisdiction o f the A lien Property Custodian rather than the Secretary o f the Treasury or vice versa.
13. Any regulations, rulings, instructions, licenses, determinations or other actions issued, made or
taken by any agency or person referred to in this Executive Order, purporting to be under the p ro
visions o f this Executive Order or any other proclamation, order or regulation, issued under sections
3(a) or 5(b) o f the T rad in g with the enemy Act, as amended, shall be conclusively presumed to have
been issued, made or taken after appropriate consultation as herein required and after appropriate
certification in any case in which a certification is required pursuant to the provisions o f this Execu
tive Order.
F R A N K L IN D. R O O SE V E L T
T

h it e

ouse,

July 6, 1942.
{See Press Release No. 37.]

AUTHORIZING A PROCLAIMED LIST OF CERTAIN BLOCKED NATIONALS
AND CONTROLLING CERTAIN EXPORTS

the

P r e s id e n t

o f the

n it e d

St a t e s

m e r ic a

A P r o c l a m a t io n

1, Franklin D. Roosevelt, President o f the U nited States o f America, acting under and by virtue o f the
authority vested in me by Section 5(b) o f the A ct o f October 6, 1917 (40 Stat. 415) as amended and Section
6 o f the A ct o f July 2, 1940 (54 Stat. 714) as amended and by virtue o f all other authority vested in me, and
by virtue o f the existence o f a period o f unlim ited national emergency and finding that this Proclam ation is
necessary in the interest o f national defense, do hereby order and proclaim the follow ing:
Sec. 1. T h e Secretary o f State, acting in conjunction with the Secretary o f the Treasury, the
A ttorney General, the Secretary of Commerce, the Administrator o f Export Control, and the C oordi
nator o f Com m ercial and Cultural Relations Between the Am erican Republics, shall from time to
time cause to be prepared an appropriate list o f—

(a) certain persons deemed to be, or to have been acting or purporting to act, directly or
indirectly, for the benefit of, or under the direction of, or under the jurisdiction of, or on behalf of,
or in collaboration with Germany or Italy or a national thereof; and
(b) certain persons to whom, or on whose behalf, or for whose account, the exportation
directly or indirectly o f any article or material exported from the U nited States, is deem ed to be
detrimental to the interest o f national defense.
In similar manner and in the interest o f national defense, additions to and deletions from such list
shall be made from time to time. Such list and any additions thereto or deletions therefrom shall be
filed pursuant to the provisions o f the Federal Register A ct and such list shall be known as “ T h e Pro
claim ed List o f Certain Blocked Nationals.”
S e c . 2. A ny person so long as his name appears in such list, shall, for the purpose o f Section 5 (b )
o f the A ct o f O ctober 6, 1917, as amended, and for the purpose o f this Proclam ation, be deemed to be a
national o f a foreign country, and shall be treated for all purposes under Executive Order N o. 8389, as
amended, as though he were a national o f Germany or Italy. A ll the terms and provision o f Executive
O rder N o. 8389, as amended, shall be applicable to any such person so long as his name appears in
such list, and to any property in which any such person has or has had an interest, to the same extent
that such terms and provisions are applicable to nationals o f Germany or Italy, and to property in
w hich nationals o f Germany or Italy have or have had an interest.

Sec. 3. T h e exportation from the U nited States directly or indirectly to, or on behalf of, or for the
account o f any person so long as his name appears on such list o f any article or material the exportation
o f which is prohibited or curtailed by any proclamation heretofore or hereafter issued under the
authority o f Section 6 o f the A ct o f July 2, 1940, as amended, or o f any other military equipm ent or
munitions, or com ponent parts thereof, or machinery, tools, or material, or supplies necessary for the
manufacture, servicing, or operation thereof, is hereby prohibited under Section 6 o f the Act o f July
2, 1940, as amended, except (1) when authorized in each case by a license as provided for in Proclama
tion N o. 2413 o f July 2, 1940, or in Proclam ation No. 25 o f March 4, 1941, as the case may be, and (2)
when the Administrator o f Export Control under my direction has determined that such prohibition o f
exportation w ould work an unusual hardship on American interests.
Sec. 4. T h e term “ person” as used herein means an individual, partnership, association, corpora
tion or other organization.
T h e term “ U nited States” as used herein means the U nited States and any place subject to the juris
d iction thereof, including the Philippine Islands, the Canal Zone, and the District o f Colum bia and
any other territory, dependency or possession o f the U nited States.
Sec. 5. N othing herein contained shall be deemed in any manner to lim it or restrict the provisions
o f the said Executive Order N o. 8389, as amended, or the authority vested thereby in the Secretary o f
the Treasury and the Attorney General. So far as the said Executive Order N o. 8389, as amended, is
concerned, “ T h e Proclaim ed List o f Certain Blocked Nationals,” authorized by this Proclamation, is
merely a list o f certain persons with respect to whom and with respect to ,.*.ose property interests the
p u b lic is specifically put on notice that the provisions o f such Executive Order are applicable; and the
fact that any person is not named in such list shall in no wise be deemed to mean that such person is
not a national o f a foreign country designated in such order, within the meaning thereof, or to affect in
any manner the application o f such order to such person or to the property interests of such person.

In W it n e s s W
to be affixed.

hereof,

I have hereunto set my hand and caused the seal o f the U nited States o f America

D o n e at the city o f W ashington this 17 day o f July, in the year o f our L ord nineteen hundred and
forty-one, and o f the Independence o f the U nited States o f Am erica the one hundred and sixty-sixth.
F r a n k l in D . R

oosevelt

By the President:
Su m n e r W

elles,

Acting Secretary of State.
[6 F. R . 3355. See General License N o. 2 3 ; Public Circular N o . 1 2 ; Press Release N o. 6.1

DECLARATION OF JANUARY 5, 1943 REGARDING FORCED TRANSFERS
OF PROPERTY IN ENEMY-CONTROLLED TERRITORY
T h e U nion of South Africa, the U nited States o f America, Australia, Belgium, Canada, China, the
Czechoslovak R epublic, the U nited Kingdom o f Great Britain and Northern Ireland, the U nion of Soviet
Socialist Republics, Greece, India, Luxem bourg, the Netherlands, New Zealand, Norway, Poland, Yugo
slavia and the French N ational Committee
H ereby issue a formal warning to all concerned, and in particular to persons in neutral countries, that
they intend to d o their utmost to defeat the methods of dispossession practiced by the governments with
which they are at war against the countries and peoples who have been so wantonly assaulted and despoiled.
Accordingly the governments making this declaration and the French N ational Committee reserve
all their rights to declare invalid any transfers of, or dealings with, property, rights and interests o f any
description whatsoever which are, or have been situated in the territories which have com e under the
occupation or control, direct or indirect, o f the governments with which they are at war or which belong or
have belonged, to persons, including juridical persons, resident in such territories. T his warning applies
whether such transfers or dealings have taken the form o f open lootin g or plunder, or o f transactions
apparently legal in form, even when they purport to be voluntarily effected.
T h e governments making this declaration and the French N ational Committee solemnly record their
solidarity in this matter.
[Department of State Bulletin, V o l. V III, N o . 185, p . 21.]

DECLARATION ON GOLD PURCHASES FEBRUARY 22, 1944
O n January 5, 1943 the U nited States and certain others o f the U nited Nations issued a warning to all
concerned, and in particular to persons in neutral countries, that they intend to do their utmost to defeat
the methods o f dispossession practiced by the governments with which they are at war against the countries
and peoples w ho have been so wantonly assaulted and despoiled. Furthermore, it has been announced
many times that one o f the purposes o f the financial and property controls o f the U nited States Government
is to prevent the liquidation in the U nited States o f assets looted by the Axis through duress and conquest.
One o f the particular methods o f dispossession practiced by the Axis powers has been the illegal seizure
o f large amounts o f g old belonging to the nations they have occupied and plundered. T h e Axis powers have
purported to sell such looted gold to various countries which continue to maintain diplom atic and com
mercial relations with the Axis, such gold thereby providing an im portant source o f foreign exchange to
the Axis and enabling the Axis to obtain much-needed imports from these countries.
T h e U nited States Treasury has already taken measures designed to protect the assets o f the invaded
countries and to prevent the Axis from disposing o f looted currencies, securities, and other looted assets
on the w orld market. Similarly, the United States Government cannot in any way condone the policy o f
systematic plundering adopted by the Axis or participate in any way directly or indirectly in the unlawful
disposition o f looted gold.
In view o f the foregoing facts and considerations, the U nited States Government form ally declares
that it does not and will not recognize the transference o f title to the looted gold which the Axis at any
time holds or has disposed o f in world markets. It further declares that it will be the p olicy o f the U nited
States Treasury not to buy any gold presently located outside o f the territorial limits o f the U nited States
from any country which has not broken relations with the Axis, or from any country which after the
date o f this announcem ent acquires gold from any country which has not broken relations with the Axis,
unless and until the U nited States Treasury is fully satisfied that such gold is not gold which was acquired
directly or indirectly from the Axis powers or is not gold which any such country has been or is enabled
to release as a result o f the acquisition of gold directly or indirectly from the Axis powers.
[The Declaration on G old Purchases was issued February 22, 1944 (9 F. R. 2096) by Secretary Morgenthau.
by the United Kingdom Treasury and by the Union o f Soviet Socialist Republics.]

Similar declarations were issued

RESOLUTION NO. VI OF UNITED NATIONS MONETARY AND FINANCIAL CONFERENCE,
BRETTON WOODS, N. H.. JULY I-JULY 22, 1944 REGARDING
ENEMY ASSETS AND LOOTED PROPERTY
Whereas, in anticipation o f their im pending defeat, enemy leaders, enemy nationals and their collab
orators are transferring assets to and through neutral countries in order to conceal them and to perpetuate
their influence, power, and ability to plan future aggrandizement and w orld dom ination, thus jeopardizing
the efforts o f the U nited Nations to establish and permanently maintain peaceful international relations;
Whereas, enemy countries and their nationals have taken the property o f occupied countries and their
nationals by open lootin g and plunder, by forcing transfers under duress, as well as by subtle and
com plex devices, often operated through the agency of their puppet governments, to give the cloak o f
legality to their robbery and to secure ownership and control of enterprises in the post-war period;
Whereas, enemy countries and their nationals have also, through sales and other methods o f transfer,
run the chain o f their ownership and control through occupied and neutral countries, thus making the
problem o f disclosure and disentanglement one o f international character;
Whereas, the U nited Nations have declared their intention to d o their utmost to defeat the methods o f
dispossession practiced by the enemy, have reserved their right to declare invalid any transfers o f property
belonging to persons within occupied territory, and have taken measures to protect and safeguard property,
within their respective jurisdictions, owned by occupied countries and their nationals, as well as to prevent
the disposal of looted property in U nited Nations markets; therefore
T h e U nited Nations M onetary and Financial Conference
1. Takes note o f and fully supports steps taken by the United Nations for the purpose of:
(a) uncovering, segregating, controlling, and making appropriate disposition o f enemy assets;
(b) preventing the liquidation o f property looted by the enemy, locating and tracing ownership
and control o f such looted property, and taking appropriate measures with a view to restoration
to its lawful owners;
2. Recom m ends:
T hat all Governments o f countries represented at this Conference take action consistent with their
relations with the countries at war to call u pon the Governments o f neutral countries
(a) to take immediate measures to prevent any disposition or transfer within territories subject
to their jurisdiction of any
(1) assets belonging to the Government or any individuals or institutions within those U nited
Nations occupied by the enemy; and
(2) looted gold, currency, art objects, securities, other evidences o f ownership in financial
o r business enterprises and o f other assets looted by the enemy; as well as to uncover, segregate
and h old at the disposition of the post-liberation authorities in the appropriate country any such
assets within territory subject to their jurisdiction;
(b) to take immediate measures to prevent the concealment by fraudulent means or otherwise
within countries subject to their jurisdiction o f any
(1) assets belonging to, or alleged to belong to, the Government o f and individuals or
institutions within enemy countries;
(2) assets belonging to, or alleged to belong to, enemy leaders, their associates and collabo
rators; and
to facilitate their ultimate delivery to the post-armistice authorities.
[Department o f State Bulletin, V ol. X I. N o. 276, p. 384.]

REGULATIONS UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED
RELATING TO TRANSACTIONS IN FOREIGN EXCHANGE AND FOREIGN-OWNED PROPERTY, THE
REPORTING OF ALL FOREIGN-OWNED PROPERTY AND RELATED MATTERS
[T h e Regulations o f the Secretary o f the Treasury issued A pril 10, 1940, were amended Mav 10, 1940, June 17, 1940.
July 15, 1940, O ctober 10, 1940, M arch 4, 1941, March 13, 1941, March 24, 1941, A pril 28, 1941, June 14, 1941, and July 26, 1941
(5 F. R. 1401, 1680, 2283, 2593, 4063, 6 F. R . 1291, 1450, 1625, 2190, 2905, 3722). T h e Regulations as amended June 14, 1941 are
printed im mediately below ; the amendment dated July 26, 1941 is set forth on page 14.]

Sec. 130.1 A uthority fo r regu lation s—These regulations are prescribed and issued under authority
o f Section 5 (b) o f the A ct o f O ctober 6, 1917 (40 Stat. 415), as amended, and Executive Order N o. 8389 o f
April 10, 1940, as amended by Executive Order N o. 8785 o f June 14, 1941.

130.2.—Definitions.
(a) T h e term “ O rder” shall refer to Executive Order N o. 8389 o f A pril 10, 1940, as amended.
(b) T h e term “ regulations” shall refer to these regulations.
(c) T h e terms “ property” and property interest” or “ property interests” shall include, but not by
way o f limitation, money, checks, drafts, bullion, bank deposits, savings accounts, any debts, indebted
ness or obligations, financial securities com m only dealt in by bankers, brokers, and investment houses,
notes, debentures, stocks, bonds, coupons, bankers’ acceptances, mortgages, pledges, liens or other
right in the nature o f security, warehouse receipts, bills o f lading, trust receipts, bills o f sale, any other
evidences o f title, ownership or indebtedness, goods, wares, merchandise, chattels, stocks on hand, ships,
goods on ships, real estate mortgages, vendors’ sales agreements, land contracts, real estate and any
interest therein, leaseholds, ground rents, options, negotiable instruments, trade acceptances, royalties,
b ook accounts, accounts payable, judgments, patents, trademarks, copyrights, contracts or licenses
affecting or involving patents, trademarks or copyrights, insurance policies, safe deposit boxes and their
contents, annuities, p oolin g agreements, contracts o f any nature whatsoever, et cetera.
(d) Safe deposit boxes shall be deemed to be in the “ custody” not only o f all persons having access
thereto but also o f the lessors o f such boxes whether or not such lessors have access to such boxes. T h e
foregoing shall not in any way be regarded as a lim itation u pon the meaning o f the term “ custody.”
(e) For the m eaning o f other terms reference should be made to the definitions contained in the
Order. In interpreting rulings, licenses, instructions, etc., issued pursuant to the Order and regula
tions, particular attention is directed to the provisions o f General R uling N o. 4, as from time to time
hereafter amended.

S ec.

S e c . 130.3. Licenses.—A pplications for licenses to engage in any transaction referred to in sections
1 or 2 o f the Order shall be filed in triplicate^] with the Federal Reserve Bank of the district or the Governor
or H igh Commissioner o f the territory or possession o f the U nited States in which the applicant resides or
has his principal place o f business or principal office or agency, or if the applicant has n o legal residence
or principal place o f business or principal office or agency in a Federal Reserve district or a territory or
possession o f the U nited States then with the Federal Reserve Bank o f New York or the Federal Reserve
Bank o f San Francisco. A pplication forms may be obtained from any Federal Reserve Bank, the Governor
or H igh Commissioner o f a territory or possession o f the U nited States, or the Secretary o f the Treasury,
Washington, D. C. T h e original o f each application shall be executed under oath before an officer
authorized to administer oaths, or if executed outside o f the U nited States, before a diplom atic or consular
officer o f the U nited States. T h e applicant shall furnish such further inform ation as shall be requested o f
him by the Secretary o f the Treasury or the Federal Reserve Bank or other agency at which the application
is filed. Licenses will be issued by the Secretary o f the Treasury, acting directly or through any officers or
agencies that he may designate, and by the Federal Reserve Banks, acting in accordance with such regula
tions, rulings, and instructions as the Secretary o f the Treasury may from time to time prescribe, in such
cases or classes o f cases as the Secretary o f the Treasury may determine. T h e Federal Reserve Bank or other
agency at w hich an application is filed will advise the applicant o f the decision respecting the application.
Licenses for exports, withdrawals or imports, after having been cancelled by the collector o f customs or
the postmaster through whom the exportation, withdrawal or im portation was made, may be returned by
such collector o f customs or postmaster to the licensee. A ppropriate forms for applications and licenses will
be prescribed by the Secretary o f the Treasury. Licensees may be required to file reports u pon the consum
m ation o f the transactions. T h e decision o f the Secretary o f the Treasury with respect to an application for
license shall be final.

130.’4. R eports o f Property Interests of A ll Foreign Countries and Nationals T h ereo f.[*]
{a) O n or before July 14, 1941,f3] reports shall be filed on Form T F R -3 0 0 , duly executed under
oath, containing the inform ation called for in such Form, with respect to all property subject to the
jurisdiction o f the U nited States on the opening o f business on June 1, 1940, and with respect to all
property subject to the jurisdiction o f the U nited States on the opening o f business on June 14, 1941,
in which on the respective dates any foreign country or any national thereof had any interest o f any
nature whatsoever, direct or indirect, regardless o f whether a report on Form T F R -1 0 0 with respect
to any such property shall have previously been filed. Such reports shall be filed by:
(1) Every person in the U nited States, directly or indirectly holding, or having title to, or
custody, control or possession o f such property on either or both o f the aforem entioned respective
dates.
(2) Every agent or representative in the U nited States for any foreign country or any national
thereof having any inform ation with respect to such property.
Provided, T h at n o report on Form T F R -3 0 0 need be filed where the total value o f all property interests o f
any foreign country or national to be reported is less than $1,000.
S ec.

[>1 Applications may be filed in duplicate and if executed within the United States need not be executed under oath. See Public CircuUr N o, 23,
as amended. Applications may be filed by any person having an interest in a transaction. Sec Public Interpretation N o . 1 1 .
[ 2J See Press Releases N os. 4, 10 and 1 2 .
(*| Sec General License N o. 68A , as amended; Public Circulars Nos. 1, 4, 4A, 4B, 4C and 1 1 ; Press Releases N os. 10, 24 and 28.

W ith ou t any lim itation whatsoever o f the foregoing, reports on Form T F R -3 00 , filed as required
above, shall be filed by every partnership, trustee, association, corporation or other organization organized
u nder the laws o f the U nited States or any state, territory, or district o f the U nited States or having its
p rincipal place o f business in the U nited States, with respect to any shares o f its stock or any o f its deben
tures, notes, bonds, coupons or other obligations or securities or any equity therein, in which any foreign
country or any national thereof had on either or both o f the aforem entioned respective dates, any interest
o f any nature whatsoever, direct or indirect.
(b) Reports shall be executed and filed in quadruplicate with the Federal Reserve Bank o f the
district or the Governor or H igh Commissioner o f the territory or possession o f the U nited States in
which the party filing the report resides or has his principal place o f business or principal office or
agency, or if such party has no legal residence or principal place o f business or principal office or
agency in a Federal Reserve district or a territory or possession of the U nited States, then with the
Federal Reserve Bank o f New York or the Federal Reserve Bank o f San Francisco. A report shall be
deem ed to have been filed when it is received by the proper Federal Reserve Bank or other agency
or when it is properly addressed and m ailed and bears a postmark dated prior to m idnight o f the
date u p on which the report is due. Each Federal Reserve Bank or other agency shall prom ptly forward
three copies o f every report filed with it to the Secretary o f the Treasury.
(c) (1) A ll spaces in the report must be properly filled in. Reports fou n d not to be in proper
form , or lacking in essential details, shall not be deemed to have been filed in com pliance with the
Order.
(2)
W here space in the report form does not permit full answers to questions, the inform ation
required may be set forth in supplementary papers incorporated by reference in the report and
submitted therewith. Supplementary documents and papers must be referred to in the principal
statement in chronological or other appropriate order and be described in such manner that they can
be identified
(d) A separate report under oath must be filed by each person required to file a report except
that persons h olding property join tly may file a join t report.
(e) T h e Secretary o f the Treasury may, in his discretion, grant such extensions o f time or
exem ptions as he deems advisable for the making of any or all of the reports required by these
regulations.
(f) R eport Form T F R -3 0 0 may be obtained from any Federal Reserve Bank, the G overnor or
H igh Commissioner o f a territory or possession o f the U nited States, or the Secretary o f the Treasury,
W ashington, D. C.
Sec. 130.5. Penalties.—Section 5(b) o f the Act o f O ctober 6, 1917, as amended, provides in part:
“ * * * W hoever w illfully violates any of the provisions o f this subdivision or o f any license,
order, rule or regulation issued thereunder, shall, u pon conviction, be fined not more than $10,000, or,
if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director,
or agent of any corporation who knowingly participates in such violation may be punished by a like
fine, imprisonment, or both.”
Sf.c. 130.6. These regulations and any rulings, licenses, or instructions issued hereunder shall not be
deemed to authorize any transaction prohibited by reason o f any other law, proclamation, order or
regulation.
S e c . 130.7. Am endm ent, M odification, or R evocation. These regulations and any rulings, licenses,
instructions, or forms issued hereunder may be amended, modified, or revoked at any time.
H

enry

orgenthau,

Jr.

Secretary of the Treasury.
A pproved: June 14,1941.
F r a n k l i n D. R o o s e v e l t .
[See Press Release N o, 7.]

AMENDMENT TO REGULATIONS
T h e Regulations o f A pril 10, 1940, as amended (Sections 130.1 to 130.7), are hereby amended so that
reports on Form T F R -3 0 0 shall be filed with respect to all property subject to the jurisdiction o f the U nited
States on the opening o f business on July 26, 1941, as well as with respect to all property subject to the
jurisdiction o f the U nited States on the opening of business on June 1, 1940, and with respect to all property
subject to the jurisdiction o f the U nited States o n the opening o f business on June 14, 1941, in which on

the respective dates China or Japan or any national thereof had any interest o f any nature whatsoever,
direct or indirect. Such reports shall be filed by the persons specified in Section 130.4 o£ the Regulations
and in the manner prescribed in the Regulations.
E. H . F o l e y , Jr .,

A cting Secretary of the Treasury.
Approved: July 26,1941.
F r a n k l i n D. R o o s e v e l t .

SPECIAL REGULATION NO. I, AS AMENDED
REQUIRING REPORTS ON FORM TFR-500 BY PERSONS SUBJECT TO THE JURISDICTION OF THE
UNITED STATES WITH RESPECT TO PROPERTY IN ANY FOREIGN COUNTRY
[Special Regulation N o. 1 was issued June 1, 1943. It was amended July 14, 1943 and O ctober 19, 1943 to extend the time
for filing reports to Novem ber 1, 1943 and December 1, 1943, respectively. Sections 137.3 and 137.4 were amended March 23, 1945
(8 F. R . 7438, 9744, 14277, 10 F. R . 3180).]
S e c t i o n 137.1. Persons required to report.
A report on Form T F R -5 0 0 is hereby required to be
filed by (a) every person subject to the jurisdiction o f the U nited States having at the close o f business on
May 31, 1943, any interest whatsoever, direct or indirect, in any property in a foreign country on such date
and by (b) every person subject to the jurisdiction o f the U nited States with whom any foreign organization
was allied on such date.

137.2. Property to be reported.
(a) R eport shall be made with respect to all property in a foreign country at the close o f business
on May 31, 1943, in which on said date the person reporting or any foreign organization then allied
with him had any interest whatsoever, direct or indirect.
(b) Property damaged, destroyed, or seized at any time between January 1, 1938, and May 31,
1943, as a result o f war or a “ scorched-earth” policy carried on by any country, or through any confisca
tory action or duress by a country which on May 31, 1943, was at war with the U nited States or was
occupied by a country at war with the U nited States, shall be reported if otherwise reportable, provided
that n o person shall report any property sold or otherwise disposed o f or seized, confiscated, destroyed,
or lost before such person became subject to the jurisdiction o f the U nited States.
(c) Property shall be deemed to have been in a foreign country at the close o f business on May
31, 1943, if (1) in case o f tangible property, it was located in a foreign country; (2) in case o f other
property, it was issued or created by, or constituted an obligation of, or was asserted to constitute an
obligation o f a foreign country or a person within a foreign country, regardless o f where any evidence
thereof was located; and (3) without lim itation u pon the foregoing, in case o f currency and coin,
securities, and negotiable instruments for the payment o f money issued or created by the United
States, or any agency or person therein, the property or evidence thereof, as the case may be, was
located in a foreign country.
(d) In ascertaining whether property was located in a particular foreign country at the close
o f business on May 31, 1943, all foreign countries shall be deemed to have the national boundaries
existing on January 1, 1938, without regard to prior or subsequent invasion, or other similar act.
Se c t i o n .

137.3. Exem ptions.
(a) Except as provided below, no report on Form T F R -5 0 0 is required (1) from any person whose
property in all foreign countries had an aggregate value less than $10,000, or (2) from any other person
respecting property in any one foreign country if the total value o f all his property in such country was
less than $1,000. These exemptions shall not apply to foreign bonds payable by their terms in U nited
States dollars, whether or not alternately payable in another currency, or to interests in allied foreign
organizations, patent license agreements, trademark license agreements, franchises and concessions, and
such contracts as may be specified by the Secretary o f the Treasury, all o f which shall be reported
regardless o f the value thereof.
(b) Reports are not required from (1) any citizen o f the U nited States in enemy or enemyoccupied territory, provided that reports shall be filed by such persons whenever they depart from
such territory or, if they have not so departed, whenever U nited States consular services have been
established in the territory within which they are present, or (2) any member o f the armed forces
o f the U nited States serving outside the continental U nited States, regardless o f the amount or kind
o f property otherwise reportable by any such person.

Se c t io n

(c) Any person entitled to the benefits o f an exem ption may nevertheless file a report on Form
T F R -5 0 0 if he so desires.

S e c t io n

137.4.

Filing.

(a) Reports by persons within the U nited States shall be filed on or before December 1, 1943,
with the Federal Reserve Bank o f the district or with the G overnor o f the territory or possession o f
the U nited States in which the person filing the report resides or has a principal place o f business or
principal office or agency or, if such person has n o legal residence or principal place o f business or
principal office or agency in a Federal Reserve District or a territory or possession o f the U nited States,
then with the Federal Reserve Bank o f New York or the Federal Reserve Bank o f San Francisco.
(b) Reports by persons outside the United States w ho are subject to the jurisdiction o f the United
States shall be filed on or before December 1, 1943, with the U nited States Consul o f the District
wherein such person is then present, except that reports by persons w ho are in enemy or enem y-occupied
territory on December 1, 1943 shall be filed on or before M ay 1, 1945, or within sixty days after the
date when U nited States consular services have been established in the territory within which they
are present, whichever is later. Persons required to report hereunder w ho have returned to the United
States before the date on which they are required to report should file in the manner specified by sub
division (a) o f this Section. [x]
(c) A report received by the proper Federal Reserve Bank, Governor, or Consul, in a correctly
addressed and stamped envelope bearing a postmark o f a time prior to m idnight o f the date upon
w hich the report is due, shall be deemed to have been duly filed.
S e c t io n

137.5.

O ther matters.

(a) Reports on Form T F R -5 0 0 shall furnish all the inform ation called for in such form and in any
instructions relating thereto issued pursuant to this Regulation. Each report shall be filed in duplicate,
under oath.f2] A ll spaces in the report must be properly filled in. Reports not in proper form, or
lacking in essential details, shall not be deem ed to have been filed in com pliance with the Orders and
this Regulation.
(b) T h e Secretary o f the Treasury reserves the power, in his discretion, to grant extensions o f time
or exem ptions with respect to the filing o f any or all reports required by this R egulation and also to
make exclusions from the exemptions provided by this Regulation.
(c) N othin g in this R egulation shall be deemed to authorize any transaction involving trade or
com m unication with an enemy national within the m eaning o f General R ulin g N o. 11, as amended,
issued pursuant to sections 3(a) and 5(b) o f the T rading with the enemy Act, as amended, and the
Orders and Regulations issued thereunder.
(d) Form T F R -5 0 0 and any circular o f instructions relating thereto may be obtained from any
Federal Reserve Bank, the G overnor o f any territory or possession o f the U nited States, any American
Consul, or the Secretary o f theTreasury, W ashington, D. C.
(e) Reports on Form T F R -5 0 0 shall be filed regardless o f whether a report on Form T F R -3 0 0
has previously been filed in respect o f any property to be reported.
S e c t i o n 137.6. Definitions.
For the purpose o f this R egulation and all forms and instructions o r
rulings issued hereunder, the follow ing definitions are prescribed.
(a) “ Person” shall include an individual, partnership, association, corporation, o r other organ
ization.
(b) “ Person subject to the jurisdiction o f the U nited States” shall mean: (1) any citizen o f the
U nited States, whether in the U nited States or in a foreign country; (2) any corporation or other
organization created or organized under the laws of the U nited States or any state, territory, district,
or possession thereof; (3) any individual resident in the U nited States on M ay 31, 1943, including any
individual continuously within the U nited States for three months next preceding that date, whether
or n ot claim ing to be resident; (4) any person not otherwise subject to the jurisdiction o f the U nited
States, to the extent that on May 31, 1943, such person had any branch, office, or representative within
the U nited States.

(c) “ Person within a foreign country” as to any particular foreign country shall include, but
not by way o f lim itation: (1) any individual resident in such foreign country, including a citizen o f
any other foreign country or o f the U nited States; (2) any corporation or other organization organized
under the laws o f such foreign country; (3) any branch or office within such foreign country o f a
corporation or other organization organized under the laws o f any other foreign country or o f the
U nited States; and (4) except when inappropriate, the government o f the country and any subdivision,
agency, or instrumentality thereof.
(d) “ U nited States” shall mean the U nited States and any territory or possession o f the United
States, except the Philippine Islands and Guam.
t l ] As amended March 23. 1945.
[*] See Public Circular N o. 2J. as amended.

(e) “ Foreign country” shall be deemed to include, but not by way o f limitation, the Philippine
Islands and Guam.
(f) “ Foreign organization” shall mean any partnership, corporation, association, business trust,
or other organization, created, organized, existing, or operating under the laws o f or in a foreign
country and shall include any foreign branch or office o f an organization subject to the jurisdiction
o f the U nited States.
(g) “ A llied foreign organization,” or “ foreign organization allied with a person,” shall mean any
foreign organization which was controlled by, or a substantial part o f the stock, shares, bonds, deben
tures, notes, drafts, certificates, or other securities or obligations o f which, or other ownership interest in
which, was owned or controlled by, directly or indirectly, a person subject to the jurisdiction o f the
U nited States, or by such a person in conjunction with one or more o f his affiliates subject to the juris
diction o f the U nited States. W ith ou t lim itation o f the foregoing, the term shall in any event include
(1) any foreign organization o f which 25 per cent or more o f the outstanding voting stock, shares, or
other voting securities or com parable ownership interest therein, was ow ned or controlled, directly or
indirectly, by such a person, or by such a person in conjunction with such affiliate or affiliates, and (2)
any foreign partnership o f which such a person was a partner, whether general, special, lim ited or other
wise. T h e Secretary o f the Treasury reserves the power to determine, in any case, that any person was or
shall be deemed to have been an "allied foreign organization” within the m eaning o f this definition.
(h) "Affiliate” shall mean (1) in relation to any corporation or other organization issuing stock
or similar securities, any person who, directly or indirectly, owned, controlled, or held with power
to vote, ten per cent or m ore o f the outstanding voting securities thereof, and (2) as to any other
organization, any person w ho owned or controlled ten per cent or m ore o f the com parable ownership
rights therein. A ny corporation or other organization o f which a person was an affiliate also shall be
deemed to have been an affiliate o f such person, and all persons w ho were affiliates o f the same person
shall likewise be deemed to have been affiliates o f each other. Notwithstanding the foregoing, persons
shall not be deemed to have been affiliates o f each other by reason only o f their ownership or control
o f interests in or obligations o f a foreign organization.
S e c t i o n 137.7. Penalties.
Section 5(b) o f the A ct o f O ctober 6, 1917, as amended, provides in part:
“ • * * W hoever w illfully violates any o f the provisions o f this subdivision or o f any license,
order, rule or regulation issued thereunder, shall, u pon conviction, be fined not more than $10,000, or,
if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director,
or agent o f any corporation w ho knowingly participates in such violation may be punished by a like
fine, imprisonment, or both .”
S e c t i o n 137.8. Am endm ent, modification or revocation.
T h is R egulation and any forms, instruc
tions, or rulings issued hereunder may be amended, modified, o r revoked at any time.
R

andolph

P aul,

A ctin g Secretary of the Treasury.

(T.D. 51245)
Part 51—Importations and exportations subject to the provisions of Executive Order 8389, as amended,
and Proclamation 2497, regarding “Blocked Nationals.”
T

reasu ry

epartm ent,

June 1,1945.

To Collectors of Customs and Others Concerned:
Treasury Decision 50433 (6 F R 3672), as amended by Treasury Decision 50530 (6 F R 6585), Treasury
Decision 50548 (7 F R 304), and Treasury Decision 50600 (7 F R 2777), is hereby further amended as follows:
1. Paragraph (1) (19 C FR , Cum. Supp., 51.1) is amended to read:
(1) [Sec. 51.1] W ith respect to each entry, withdrawal or exportation o f merchandise, there shall
be submitted a list or statement showing the name and address o f the ultimate and every intermediate
consignee, consignor, and other person having an interest in the merchandise or in the transaction,
unless such inform ation is set forth in the appropriate customs or other documents. If it appears that
any such consignee, consignor, or other person is named in “ T h e Proclaimed List o f Certain Blocked
Nationals,” the entry, withdrawal, or exportation o f the merchandise involved shall be permitted only
upon presentation o f the original copy o f a Treasury license authorizing the same. Such original copy
shall bear a notation in ink by the person presenting it showing the description, quantity, and value
o f the merchandise. I f the license in fact authorizes the entry, withdrawal, or exportation, the collector
o f customs at the port where the transaction is to be effected, or any authorized subordinate, shall verify
the notation by signing or initialling it after first assuring himself that it accurately describes the
merchandise that it purports to represent. T h e original copy shall thereafter be returned to the person
presenting it.
2. Paragraph (2) (19 C FR , Cum. Supp. 51.2) is amended to read:
(2) [Sec. 51.2] Except as provided for in the preceding paragraph, as required by Treasury Decision
51072 (9 F R 6239) or as otherwise directed, Treasury licenses shall not be required with respect to the

entry, withdrawal, or exportation o f merchandise notwithstanding General R u lin g N o. 11, as amended,
or tnat the consignee, consignor, or other person having an interest in the merchandise, or in the
transaction, is a foreign country designated in Executive Order N o. 8389, as amended, or a national
thereof.
3. Paragraph (3) (19 CFR, Cum. Supp., 51.3) is amended to read:
(3)
[Sec. 51.3] These regulations do not in any way affect the necessity for a license under the
E xport C ontrol A ct o f July 2, 1940. Neither an export control license nor a Treasury license w ill be
accepted in lieu of the other type o f license.
4. Paragraph (5) (19 CFR, Cum. Supp., 51.4) is hereby deleted.
Treasury Decision 50530 (6 F R 6585), as amended by Treasury Decision 50993 (9 F R 1003) is hereby
further amended by deleting paragraphs (1) and (2) (19 CFR, Cum. Supp., 51.12, 51.13; redesignated sections
51.11, 51.12 by Treasury Decision 50993, January 31, 1944).
(40 Stat. 415, as amended, 54 Stat. 714, as amended; 12 U.S.C. and Supp. 95a, 50 U.S.C. A pp . Sup., 701;
E. O. 8389, as amended, A pril 10, 1940; and Proc. 2497, July 17, 1941).
T h e provisions hereof shall be effective on and after June 4, 1945.
H e r b e r t E. G a s t o n ,
A cting Secretary o f the Treasury.

(T. D. 51072)
Part 52—Regulations under Trading with the enemy Act
Regulations under sections 3(a) and 5(b) of the Trading with the enemy Act,
as amended, relative to the release of art objects from customs custody which
have been imported after March 12, 1938.
T

reasu ry

epartm ent,

June 8,1944.

To Collectors of Customs and others Concerned:
T h e follow in g regulations are prescribed under the authority o f sections 3 (a) and 5 (b) o f the T rad ing
with the enemy Act, as amended, with respect to the release o f art objects from customs custody:
(1) [Sec. 52.12] Prohibitions against R elease o f Im p orted A rt O bjects. N o art object hereafter im
ported from any foreign country, except one which constitutes a part o f the U nited Kingdom , the British
Dom inions, or British Colonies, and no art object which is now in customs custody w hich was im ported
after M arch 12, 1938 from any foreign country except one which constitutes a part o f the U nited Kingdom,
the British Dom inions, or British Colonies, shall be released from customs custody, whether for consum ption
or exportation, or shall be sold or forfeited under the customs laws and regulations, unless such release, sale,
or forfeiture has been licensed or otherwise authorized by the Secretary o f the Treasury.
(2)

[Sec. 52.13] Requirem ents fo r R elease o f A rt O bjects.
(a) Persons seeking release o f any such art object from customs custody for consum ption or ex
portation shall file an application on Form T F E -1 in duplicate in the manner prescribed in section
130.3 o f the Regulations issued under Executive Order N o. 8389, as amended. Form FFC 168 must be
filled out and attached to the application.
(b) W ith respect to art objects in customs custody which are subject to sale or forfeiture under
the customs laws and regulations, the Collector o f Customs concerned shall file a report in duplicate on
Form FFC 168 with Foreign Funds Control, Treasury Department, U nit 244, Washington, D. C.
(3) [Sec. 52.14] D efinition o f “ A rt O b ject” . As used herein, the term “ art object” shall include any
o f the follow ing, if there is reasonable cause to believe that the article or lot o f articles included in one
im portation, export shipment, or sale lot (i) is worth $5,000 or more, or (ii) is o f artistic, historic, or
scholarly interest irrespective o f monetary value:
(a) paintings in oil, mineral, water, or other colors, tempera, pastels, drawings and sketches in pen,
ink, pencil, or water colors, engravings, woodcuts, prints, lithographs, miniatures;
(b) statuary, sculptures;
(c) chinaware, glassware, pottery, porcelain;
(d) rugs, tapestries, laces, and other textiles;
(e) jewelry, metalwork;
(f)
books, manuscripts, archival materials and records;
(g) furniture;
(h) curios.
T h e provisions hereof shall be effective on and after June 8,1944.
(Signed) H e r b e r t E. G a s t o n ,
A ctin g Secretary o f the Treasury.
[Sec Press Release No. 33.]

GENERAL RULINGS
ISSUED UNDER EXECUTIVE ORDER NO. 8589, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTIONS 3(a)
AND 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS
ACT, 1941.

TERM "DENMARK" NOT APPLICABLE TO ICELAND
General Ruling No. I.
T h e Secretary o f State has advised me as follows:
‘‘Denmark and Iceland are two separate political entities. A cting under the authority o f a pro
vision o f the Icelandic Constitution the Icelandic Parliament has within the past few days passed a reso
lution stating that since the King o f Iceland is not now in a position to carry out his Constitutional
duties with respect to Iceland, the Icelandic Government has assumed for the time being the exercise
o f the Royal prerogatives and the entire control o f Icelandic foreign relations.
“ In view o f the foregoing it w ould not appear that Iceland falls within the definition o f the term
‘Denmark’ in Section 11 o f the above-mentioned Executive Order.”
In view o f the foregoing, the Treasury Department construes the term “ Denmark” as used in the above
m entioned Executive Order and Regulations as not applying to Iceland.
[Issued April 15, 1940 (5 F. R. 1474). Denmark is one o f the countries designated in Section 3 o f the Order.]

TRANSFER OF STOCK CERTIFICATES AN D CUSTODY OF SECURITIES
General Ruling No. 2.
Inquiry has been made as to whether the follow in g are prohibited by the Executive Order and the
Regulations issued thereunder except under license:
(a) T h e transfer by a banking institution within the United States o f stock certificates from or
into the names o f “ nationals” o f Norway or Denmark; and
(b) T h e delivery out o f custody accounts or the receipt in custody accounts, by a banking institu
tion within the U nited States, of securities held or to be held in custody for “ nationals” o f Norway or
Denmark.
T h e Treasury Department construes the Executive Order and Regulations as prohibiting such trans
actions, except under license.
[Issued April 19, 1940 (5 F. R. 1 47 4 ).]

TRANSACTIONS REGARDING SECURITIES REGISTERED OR INSCRIBED IN NAME
OF A DESIGNATED FOREIGN COUNTRY OR NATIONAL THEREOF
General Ruling No. 3, as Amended.
T h e attention o f banks, brokers, transfer agents, registrars and all other persons and banking institu
tions in the U nited States is invited to the fact that the Treasury Department construes Executive Order
N o. 8389, A pril 10, 1940, as amended, and the Regulations issued pursuant thereto as prohibiting the
acquisition, transfer, disposition, transportation, im portation, exportation, or withdrawal of, or the endorse
ment or guarantee o f signatures on, or otherwise dealing in, or with respect to, any security (or evidence
thereof) registered or inscribed in the name o f any country designated in Executive Order N o. 8389, A pril 10,
1940, as amended, or any national thereof, except pursuant to a specific license, irrespective o f the fact that
at any time (either prior to, on, or subsequent to April 10, 1940) the registered or inscribed owner thereof
may have, or appears to have, assigned, transferred or otherwise disposed o f any such security. Applications
for licenses should be made in the manner provided in the Regulations issued under Executive Order No.
8389, A pril 10, 1940, as amended.
[Issued June 3, 1940; amended June 17, 1940 (5 F. R . 2133, 2 2 8 4 ).]

DEFINITIONS AND RULES OF INTERPRETATIONS USED IN RULINGS,
LICENSES, INSTRUCTIONS, ETC.
General Ruling No. 4, as Amended.
Except as specifically provided herein or otherwise, all definitions appearing in Executive Order N o.
8389 o f A pril 10, 1940, as amended, and the Regulations issued thereunder, shall apply to the terms employed
in all rulings, licenses, instructions, etc., and, in addition, the follow in g definitions and rules o f interpreta
tion are prescribed:
(1) T h e term “ Order” shall mean Executive Order N o. 8389, as amended.
(2) T h e term “ license” shall mean a license issued under the Order.
(3) T h e term “ interest” when used with respect to property shall mean an interest o f any nature
whatsoever, direct or indirect.
(4) T h e term “ blocked country” shall mean any foreign country designated in the Order.

(5) T h e term “ Netherlands East Indies” shall mean the follow ing: Java and Madura, Sumatra,
Riouw -Lingga archipelago, Banka, Billiton, Celebes, Borneo (West, South and East Divisions), T im o r
archipelago, Bali ana Lom bok, Lesser Sunda Islands and Dutch New Guinea.
(6) T h e term ‘ ‘Netherlands West Indies” shall mean the follow ing: Dutch Guiana, Dutch St.
M artin, Curacao, Bonaire, Aruba, St. Eustatius and Saba.
(7) A ny person licensed as a ‘ ‘generally licensed national” shall, while so licensed, be regarded as
a person within the U nited States w ho is not a national o f any blocked country; provided, however,
that the licensing o f any person as a “ generally licensed national” shall not be deemed to suspend in
any way. the requirements o f the Order and Regulations relating to reports, and the production o f books,
documents, records, etc. (see section 4 o f the Order and section 130.4 o f the Regulations).
(8) T h e term "blocked account” shall mean an account in which any blocked country or national
thereof has an interest, with respect to which account payments, transfers or withdrawals or other deal
ings may not be made or effected except pursuant to a license authorizing such action. T h e term
"b lock ed account” shall not be deemed to include free dollar accounts o f the type referred to in General
License N o. 32, as amended, or the accounts o f generally licensed nationals.
(9) T h e term “ banking institution” shall have the meaning prescribed in Section 5F o f the Order.
(10) T h e term “ domestic bank” shall mean any branch or office within the U nited States o f any o f
the follow in g which is not a national o f any blocked country: any bank or trust com pany incorporated
under the banking laws o f the United States or o f any state, territory, or district of the U nited States,
or any private bank or banker subject to supervision and examination under the banking laws o f the
U nited States or o f any state, territory or district of the United States. T h e Treasury Department may
also authorize any other banking institution to be treated as a “ domesic bank” for the purpose o f this
definition or for the purpose o f any license, ruling, or instruction.
(11) T h e term “ national securities exchange” shall mean an exchange registered as a national
securities exchange under section 6 o f the Securities Exchange Act o f 1934 (48 Stat. 885, U.S.C., title 15,
sec. 78f).
(12) Reference to any general license or general ruling which has been amended shall be deemed
to refer to such license or ruling as amended.
(13) A ny person w ho by virtue o f any definition in the Order is a national o f more than one
blocked country shall be deemed to be a national o f each o f such blocked countries.
(14) In any case in which a person is a national o f two or more blocked countries, a license with
respect to nationals o f one o f such blocked countries shall not be deemed to include such person unless
a license o f equal or greater scope is outstanding with respect to nationals of each other blocked country
o f which such person is a national.
(15) T h e Secretary o f the Treasury reserves the right to exclude from the operation o f any license
or from the privileges therein conferred or to restrict the applicability thereof with respect to, particular
persons, transactions or property or classes thereof. Such action shall be binding u pon all persons receiv
ing actual notice thereof, or constructive notice if in any case notice is filed pursuant to the provisions o f
the Federal Register A ct (49 Stat. 500, as amended by 50 Stat. 304; U.S.C., Sup. V, title 44, sec. 301 et seq).
(16) N o license shall be deemed to authorize any transaction prohibited by reason o f the provisions
o f any law, proclam ation, order or regulation, other than the Order and Regulations.
(17) Any amendment, m odification, or revocation o f any order, regulation, ruling, instruction, or
license issued by or under the direction o f the Secretary o f the Treasury pursuant to sections 3(a) or 5(b)
o f the T rad ing with the enemy Act, as amended, shall not be deemed to affect any act done or omitted
to be done, or any suit or proceeding had or com m enced in any civil or criminal case, prior to such
amendment, m odification, or revocation, and all penalties, forfeitures, and liabilities under any such
order, regulation, ruling, instruction, or license shall continue and may be enforced as if such amend
ment, modification, or revocation had not been made.
(18) N o license or other authorization issued by or under the direction o f the Secretary o f the
Treasury pursuant to the Order or sections 3(a) or 5(b) o f the T rading with the enemy Act, as amended,
shall be deemed to authorize or validate any transaction effected prior to the issuance thereof, unless
such license or other authorization specifically so provides.
[Issued June i , 1940; amended May 24, 1941; July 8, 1941; September 3. 1943 (5 F. R. 2133, 6 F. R . 2583. 3350, 8 F. R. 12285).
Public Circular N o. SB.]

See

REGULATIONS RELATING TO IMPORTATION OF SECURITIES AND CURRENCY
General Ruling No. 5, as Amended.
(1) P rohibition W ith R espect to Im portation o f Securities or Currency. Except as authorized herein,
or as authorized by a license or other authorization o f the Secretary o f the Treasury, the sending, mailing,
im porting, or otherwise bringing into the United States from any foreign country o f any securities or cur
rency, or the receiving or holding in the U nited States o f any securities or currency sent, mailed, imported,
or otherwise brought into the U nited States from any foreign country is prohibited.
(2) Declaration and Surrender o f Securities and Currency by Persons Entering the U nited States.
Any individual entering the U nited States from any foreign country shall declare and surrender to the

collector o f customs or his representative at the port o f entry, before the exam ination o f his baggage or effects
has begun (or, if his baggage is not subject to exam ination, before customs clearance), all securities and
currency which he has on his person or in any o f his baggage or effects. If the port o f entry is in the Panama
Canal Zone, such securities and currency shall be declared and surrendered to the customs officer or other
representative o f the G overnor o f the Panama Canal Zone at such port. Securities and currency so declared
and surrendered shall not be deemed to have been im ported or brought into the U nited States in violation
o f this general ruling, but nevertheless shall be subject to all other provisions hereof.
(3) Inspection by Customs Officers and Postal Em ployees. A ny articles sent, mailed, imported, or
otherwise brought into the U nited States from any foreign country which, in the op in ion o f customs officers
or postal employees contain any securities or currency, shall be subjected to customs inspection in accord
ance with the Customs Regulations o f 1943 (or, if arriving in the Panama Canal Zone, in accordance with
customs regulations in effect in the Panama Canal Zone) and the Postal Laws and Regulations o f 1940. Any
securities or currency fou n d in any article opened by, or under the supervision of, a customs officer or postal
em ployee shall be taken u p by or surrendered forthwith to such customs officer or postal employee. Any
securities or currency contained in any article sent or m ailed to the U nited States, otherwise than as baggage,
shall not be deemed to have been sent or mailed in violation o f this general ruling if the outermost wrapper
or container in which they are enclosed is labeled in such a manner as to notify the customs officers or postal
employees o f its contents, or if the attendant circumstances otherwise disclose or indicate that no attempt has
been made to avoid customs inspection o f such securities or currency. Such securities and currency never
theless shall be subject to all other provisions hereof.
(4) D elivery o f Im p orted Securities and Currency to Federal R eserve Bank or G overn or o f Territory
o r Possessioti o f th e U nited States: D uty o f Federal R eserve Bank o r G overnor.
(a) Customs officers and postal employees shall deliver any securities or currency taken up by or
surrendered to them pursuant to this general ruling to a Federal Reserve Bank or to the governor of a
territory or possession o f the U nited States. Except as otherwise instructed by the Treasury Department,
any Federal Reserve Bank to which, or governor o f a territory or possession o f the U nited States to
whom, securities or currency are delivered pursuant to this general ruling shall h old such securities and
currency until the Treasury Department is satisfied that no blocked country or national thereof has, at
any time on or since the effective date o f the Order, had any interest therein. Applications for release of
securities or currency so held may be filed with the Federal Reserve Bank o r the governor o f the territory
or possession o f the U nited States holding such securities or currency.
(b) T h e Federal Reserve Banks shall act only as fiscal agents o f the U nited States hereunder, and
shall receive and h old securities and currency delivered to them pursuant to this general ruling as such
fiscal agents, subject to the further order o f the Secretary o f the Treasury.
T h e governors o f the territories and possessions o f the U nited States shall act as the agents o f the
Secretary o f the Treasury in receiving and holding, subject to the further order o f the Secretary o f the
Treasury, securities and currency delivered to them pursuant to this general ruling, and are authorized
to take appropriate measures, by rules, regulations, or otherwise, for the enforcem ent o f the general
ruling in their respective jurisdictions.
(5) Duty o f Persons R eceim ng Im ported Securities or Currency. Securities or currency sent, mailed,
imported, or otherwise brought from a foreign country to the U nited States and delivered to any person in
the U nited States under circumstances which do not clearly disclose or indicate that such securities or cur
rency have been delivered for examination, pursuant to this general ruling, to a Federal Reserve Bank o r
governor o f a territory or possession o f the U nited States shall be forwarded by the person receiving them,
within five days after receipt thereof, to a Federal Reserve Bank o r governor o f a territory or possession o f
the U nited States, together with a statement in triplicate setting forth:
(a) His name and address;
(b) A com plete description o f the securities and currency;
(c) T h e name and address o f the person from whom he received the securities or currency; and
(d) T h e reasons why the provisions o f General R u lin g N o. 5 are considered applicable to such
securities or currency.
Securities or currency forwarded to a Federal Reserve Bank or governor o f a territory or possession o f the
U nited States in com pliance with this paragraph shall not be deemed to have been received or held in viola
tion o f this goneral ruling by the person forwarding such securities or currency. Such securities or currency
nevertheless shall be subject to all other provisions hereof.
(6) Exceptions. T h e provisions o f this general ruling shall not apply to:
(a) Securities or currency sent or mailed to the U nited States from Great Britain, Canada, New
foundland, or Bermuda;
(b) Securities or currency carried on the person or in the baggage or effects of any individual arriv
ing in the U nited States from Great Britain, Canada, Newfoundland, or Bermuda w ho has not passed
through any other foreign country en route to the United States.

T h is exception shall not apply to any securities or currency which there is reasonable cause to believe were
sent, m ailed, exported, or otherwise brought from Great Britain, Canada, N ewfoundland, or Bermuda in
violation o f the laws thereof.
(7) Definitions. As used herein:
(a) T h e term "securities” shall include all securities and evidences thereof;
(b) T h e term “ currency” shall include U nited States and foreign currency, including coins (other
than g old coins).
[Issued June 6, 1940; amended May 19, 1942; September 3, 1943 (5 F. R. 2159, 7 F. R. 3770, 8 F. R. 12286).
General Ruling N o . 6A ; and Press Releases N os. 3 ), 39, 43 and 60.]

See General License N o . 8 4 ;

REGULATIONS RELATING TO CERTAIN IMPORTATIONS AND EXPORTATIONS
OF CHECKS, DRAFTS, AN D OTHER FINANCIAL INSTRUMENTS
General Ruling No. 5A.
1. P roh ib ition ivith respect to im portation and exportation o f and dealings in checks, drafts, etc.
T h e follow in g transactions are prohibited after the effective date o f this general ruling unless authorized by
a license or other authorization o f the Secretary o f the Treasury expressly referring to this general ruling:
(a) T h e sending, mailing, exporting, or otherwise taking o f any check, draft, b ill o f exchange,
promissory note, security, or currency from the United States, directly or indirectly, to any blocked
country (with the exception o f China and members o f the generally licensed trade area);
(b) T h e sending, mailing, importing, or otherwise bringing into the U nited States from any
foreign country o f any check, draft, bill o f exchange, or promissory note which has been within, or
w hich there is reasonable cause to believe has been within, any blocked country (with the exception o f
C hina and members o f the generally licensed trade area);
(c) T h e presentation, endorsement, acceptance, collection, payment, transfer, or protest of, o r any
other dealing in or with respect to, any instrument to which the prohibitions o f paragraph 1 (b) hereof
apply and w hich is sent, mailed, imported, o r otherwise brought into the U nited States on or after
August 25, 1943.
2. D elivery o f im ported checks, drafts, etc., to Federal R eserve Bank o f N ew York. A ny person who,
after the effective date o f this general ruling, receives any check, draft, bill o f exchange, or promissory note
w hich has been within, or which there is reasonable cause to believe has been within, any blocked country
(with the exception o f China and members o f the generally licensed trade area) shaH within five days after
receipt thereof forw ard such instrument to the Federal Reserve Bank o f New York, accom panied by a
statement in triplicate setting forth:
(a) H is name and address;
(b) A com plete description o f the instrument;
(c) T h e name and address o f the person from whom he received the instrument; and
(d) T h e names o f any blocked countries in which the instrument has been, or in which there is
reasonable cause to believe it has been.
T h e Federal Reserve Bank o f New York w ill act only as fiscal agent o f the U nited States hereunder and shall
receive and h old all such instruments as such fiscal agent, subject to the further order of the Secretary of
the Treasury. A pplications for the release o f any such instruments may be filed in the manner prescribed in
section 130.3 o f the Regulations, except that the place for filing applications shall be the Federal Reserve
Bank o f N ew York.
3. R ep orts on arrival and departure re checks, drafts, etc.
(a) A ny individual entering the U nited States after the effective date o f this general ruling from
any foreign country shall report and surrender to the collector o f customs or his representative at the
p ort o f entry, before the exam ination o f his baggage or eflects has begun (or, if his baggage is not subject
to exam ination, before customs clearance), every check, draft, bill o f exchange, and promissory note
carried on his person or in his baggage or effects which has been within, or w hich there is reasonable
cause to believe has been within, any blocked country (with the exception o f China and members o f
the generally licensed trade area). Such report shall be made in duplicate on Form FFC-160, w hich
may be obtained from the collector o f customs or his representative at the port o f entry.
(b) A ny individual departing from the U nited States after the effective date o f this general ruling
shall report to the collector o f customs or his representative at the port o f exit, before customs exami
nation has begun (or, if he is not subject to customs examination, before customs clearance), (i) all
currency and (ii) every check, draft, bill o f exchange, promissory note, and security carried on his
person or in his baggage or effects which is destined for, or which there is reasonable cause to believe
is destined for, directly or indirectly, any blocked country (with the exeception o f China and members
o f the generally licensed trade area). Such report shall be made in duplicate on Form FFC-161, which
may be obtained from the collector o f customs or his representative at the port o f exit.
4. E xceptions. T h e foregoing provisions shall not be deemed to apply to the follow in g instruments,
unless such instruments have been within, or there is reasonable cause to believe that they have been within,

enemy territory, or unless such instruments are destined for, or there is reasonable cause to believe that
they are destined for, enemy territory, directly or indirectly:
(a) Non-negotiable bank payment orders;
(b) (i) Incom ing travelers checks;
(ii) O utgoing travelers checks which are carried by persons departing from the United States
for blocked countries and which are issued in the name o f the person carrying them;
(c) O utgoing checks drawn on the Treasurer o f the U nited States which are carried by persons in
the service o f the U nited States Government and which are issued in the name o f the person carrying
them;
(d) O utgoing currency valued at $50 or less which is carried for traveling expenses by persons
departing from the U nited States for blocked countries;
(e) Incom ing drafts or bills o f exchange drawn under letters o f credit;
(f) Incom ing drafts or bills o f exchange drawn on importers in the W estern Hemisphere in con
nection with the im portation o f goods, Wares, or merchandise into the W estern Hemisphere;
(g) Incom ing checks, drafts, bills o f exchange, or warrants drawn on the Secretary o f State o f the
U nited States, the Secretary o f Navy o f the U nited States, or the Treasurer o f the U nited States.
5. Transactions n ot authorized. This general ruling shall not be deemed to authorize any transaction
prohibited by the Order or by any regulation, ruling, or instruction issued by the Secretary o f the Treasury
pursuant to sections 3(a) or 5(b) o f the T rading with the enemy Act, as amended.
6. Definitions, (a) T h e term “ member” o f the generally licensed trade area as used herein shall have
the m eaning prescribed in General License N o. 53, as amended.
(b)
T h e term “ enemy territory” as used herein shall have the m eaning prescribed in General
R u lin g N o. 11, as amended.
7. E ffective date. T h e provisions hereof shall take effect August 25, 1943, with the exception of
paragraphs 1(a) and 3(b) which shall be effective on the date o f issuance o f this general ruling.
[Issued July 7. 1943 (8 F. R. 9 3 2 0 ). See General Licenses N os. 32A, and 8 8 ; Press Release N o. 47.]

DELIVERY OF IMPORTED SECURITIES BY FEDERAL RESERVE BANKS TO
GENERAL RULING NO. 6 ACCOUNTS IN DOMESTIC BANKS
General Ruling No. 6, as Amended.
(1) T h e provisions o f General R u lin g N o. 5 o f June 6, 1940, and all instructions issued pursuant
thereto, are hereby continued in full force and effect, provided, that any Federal Reserve Bank to whom
securities or evidences thereof (hereinafter referred to as securities) have been forwarded under such general
ruling may, as fiscal agent o f the U nited States, deliver the securities, at any time, under appropriate arrange
ments with the addressee o f the securities, to a domestic bank.
(2) Prior to such delivery by a Federal Reserve Bank o f any such security, a com plete description o f the
security shall be made or received and retained by such Federal Reserve Bank, and in any case in which a
security bears a stamp, seal or other mark not lending itself to precise description, a photostat o f such mark
shall be made at the expense o f the addressee and retained by such Federal Reserve Bank. T his require
ment may be dispensed with in any case in which appropriate arrangements are entered into for furnishing
such Federal Reserve Bank with this description within a reasonable time after such delivery.
(3) U p on the delivery o f any such security by a Federal Reserve Bank to any domestic bank, such bank
shall execute such form o f receipt as may be prescribed by the Secretary o f the Treasury.
(4) Any domestic bank to which any such security shall be delivered by a Federal Reserve Bank shall
place such security in a General R u lin g N o. 6 account in such bank.
(5) Any outstanding account in which securities or the proceeds thereof have been placed pursuant to
the provisions o f General R ulin g N o. 6 prior to this amendment shall be deemed to be a General R u lin g
N o. 6 account.
(6) Federal Reserve Banks shall release any security referred to in paragraph (1) hereof, or shall au
thorize the release o f the contents o f any General R ulin g N o. 6 account, if and when the Treasury Depart
ment is satisfied that no blocked country, or national thereof, has, at any time, on or since the effective date
o f the Order, had any interest in such security or in such account.
(7) A ny application for a license authorizing any transaction or dealing with respect to a General
R u lin g N o. 6 account (including the contents thereof) shall specifically indicate that such account is a Gen
eral R u lin g N o. 6 account.
(8) As used in this general ruling and in any other rulings, licenses, instructions, etc., the term “ General
R u lin g N o. 6 account” shall mean an account o f the type referred to in paragraphs (4) and (5) hereof, and
n o payments, transfers, or withdrawals may be made from, and n o other transaction o r dealing may be
effected with respect to, any such account except pursuant to paragraph (6) above or pursuant to license,
provided, that:

(a) N o license shall be deemed to authorize transactions with respect to a General R u lin g N o. 6
account unless the provisions o£ such license are specifically made applicable to a General R uling N o. 6
account.
(b) In the event that any security placed in a General R u lin g N o. 6 account is sold or otherwise
dealt with under license, except a license o f the type referred to in paragraph (8) (c) below, the proceeds
thereof shall be placed in a General R ulin g No. 6 account in the same domestic bank and in the same
name in which the security sold or otherwise dealt with was held.
(c) T h e contents o f a General R u lin g N o. 6 account cannot be transferred to a blocked account,
except pursuant to a license specifically authorizing such transfer. Applications for licenses authorizing
the transfer o f the contents o f any General R u lin g No. 6 account to a blocked account shall be accom
panied by adequate evidence respecting the interest therein o f blocked countries or nationals thereof.
(9) Dom estic banks maintaining General R u lin g N o. 6 accounts in which securities, the proceeds of
securities, or incom e derived from securities are held, shall keep detailed records with respect to each such
General R u lin g N o. 6 account which will indicate clearly and accurately the specific security or securities
with respect to which each payment or transfer to or from such General R u lin g N o. 6 account is made, except
that the foregoing requirement shall not be applicable to payments or transfers representing service charges.
[Issued August 8. 1940; amended June 27, 1941; May 18. 194} (5 F. R. *807, 6 F. R. 3174, 8 F. R. 6 595).
8 5 ; Public Circular N o . 9 .]

See General Licenses N os. 29 and

CONTROL OF CERTAIN IMPORTED CURRENCY
General Ruling No. 6A, Revoked.
General R u lin g N o. 6A, issued March 13, 1942 (7 F. R . 2083), was revoked September 3, 1943 (8 F. R.
12287). A ny Unitea States or foreign currency to which the General R u lin g applied prior to the revocation
thereof continues to be subject to the provisions o f General R u lin g N o. 5, as Amended.

SECURITIES C O M IN G FROM THE PHILIPPINE ISLANDS AND THE
PAN AM A C A N A L ZONE
General Ruling No. 7.
T h e provisions o f General R u lin g N o. 5, as supplemented by General R u lin g N o. 6, have been
extended to securities or evidences thereof com ing from the Philippine Islands and the Panama Canal Zone
into any other part o f the United States.
[Issued September 18, 1940 (5 F. R. 3 7 4 7 ).]

CERTAIN PAYMENTS TO DESIGNATED FOREIGN COUNTRIES AND
NATIONALS THEREOF
General Ruling No. 8.
Inquiry has been made as to whether the follow ing is prohibited, except under license, by Executive
O rder N o. 8389, as amended, and the Regulations issued pursuant thereto:
A request or authorization made by or on behalf o f a bank or other person within the U nited States
to a bank or other person in a foreign country other than one o f the countries designated in Executive
O rder N o. 8389, as amended, as a result o f which request or authorization such latter bank or person
makes a payment or transfer o f credit either directly or indirectly to one o f the foreign countries desig
nated in the Executive Order, as amended, or a national thereof.
T h e Treasury Department construes the Executive Order, as amended, and Regulations as prohibiting
such a transaction except under license.
I Issued September 18, 1940 (5 F. R. 3 * 4 7 ).]

GENERAL LICENSE NO. 52 INAPPLICABLE TO PERSONS WITHIN TANGIERS
General Ruling No. 9.
Inquiry has been made as to whether a person within Tangiers may engage in transactions pursuant to
General License N o. 52 relating to Spain.
General License No. 52 does not permit such transactions and, accordingly, any such transactions which
are not authorized by a general license other than General License N o. 52 may only be effected pursuant
to a specific license.
[Issued July 23, 1941 (6 F. R. 3675).
fact that Tangier! assets arc blocked.)

At the time of the issuance o f Generat Ruling N o. 9, the Treasury Department directed attention to the

CONTROL OF PHILIPPINE PAPER CURRENCY AND SECURITIES
General Ruling No. 10.
(1) T h e acquisition, disposition or transfer of, or other dealing in, or with respect to, any of the fol
lowing is hereby prohibited except as authorized by license expressly referring to this general ruling:
(a) Any Philippine paper currency;
(b) Any security issued by, or the obligation of, either the government o f the Com monwealth of
the Philippines, including political subdivisions thereof, or any corporation or other organization
organized under the laws of the Philippine Islands, unless Form T F E L -2 has been previously attached
to such security by, or under the direction of, the Treasury Department.
Form T F E L -2 will be attached to any security referred to herein if presented to any Federal Reserve Bank
on or before February I, 1942, accompanied by a description thereof on Form T F R -1 0 . Subsequent to
February 1, 1942, Form T F E L -2 will be attached to such securities only in the discretion o f the Secretary of
the Treasury and only u pon the filing of appropriate application with a Federal Reserve Bank tracing the
ownership o f such security since January 1, 1942, and satisfactorily explaining the reasons the security was
not presented to a Federal Reserve Bank on or before February 1, 1942, for the attachment o f Form T F E L -2.
Such form will be attached to stamped securities o f the type referred to in section 2A (1) o f the Order only
pursuant to existing procedure relating to stamped securities.
(2) Except as authorized by license expressly referring to this general ruling:
(a) A ll Philippine paper currency held within the U nited States is hereby required to be deposited
on or before February 1, 1942, in a blocked currency account with either a domestic bank or with the
New York office o f the Philippine N ational bank.
(b) T h e bank o f deposit shall hold such currency for the account, or pursuant to the instructions,
o f the depositor.
(c) O n or before February 15, 1942, every bank holding any blocked currency accounts shall file a
report on Form T F R -1 1 0 in triplicate with the appropriate Federal Reserve Bank.
As used in this general ruling and in any other rulings, licenses, instructions, etc., the term “ blocked cur
rency account” shall mean an account from which no payments, transfers, or withdrawals may be made, and
no other transaction or dealing may be effected with respect thereto, except pursuant to a license expressly
referring to such account.
(3) Philippine paper currency which prior to January 1, 1942, was o f recognized special value to col
lectors o f rare and unusual currency, or which is held as part o f any collection o f rare and unusual currency
is hereby excluded from the provisions of this general ruling.
By direction o f the President.
[Issued January 14, 1942 (7 F. R. 3 0 5 ). See Press Releases N os. 25 and 26. J

MORATORIUM ON OBLIGATIONS OF PHILIPPINE COMPANIES
General Ruling No. I0A, Revoked.
General R u lin g N o. 10A, issued August 12, 1942 (7 F. R . 6383), was revoked May 25, 1945 (10 F. R.
6170) in view o f the issuance o f General R u lin g N o. 18.

REGULATIONS RELATING TO TRADE OR CO M M U N IC A T IO N WITH OR
BY AN ENEMY NATIONAL
General Ruling No. II, as Amended.
(1) T rade and Com m unication with an Enemy N ational Prohibited. Unless authorized by a license
expressly referring to this general ruling, no person shall, directly or indirectly, enter into, carry on, com
plete, perform, effect, or otherwise engage in, any trade or com m unication with an enemy national, or any
act or transaction w hich involves, directly or indirectly, any trade or com m unication with an enemy national.
(2) A cts and Transactions by an Enem y N ational Prohibited. Unless authorized by a license expressly
referring to this general ruling, no enemy national w ho is within the U nited States shall, directly or
indirectly, enter into, carry on, complete, perform, effect, or otherwise engage in, any financial, business,
trade, or other com mercial act or transaction.
(3) Certain Transactions Licensed Under Section 3(a). Every act or transaction prohibited by section
3(a) o f the T rading with the enemy Act, as amended, is hereby licensed thereunder unless such act or trans
action is prohibited by paragraph (1) or paragraph (2) hereof or otherwise prohibited pursuant to section
5(b) of that A ct and not licensed by the Secretary o f the Treasury. A ttention is directed to the fact that

the General License under section 3(a) o f the Act, issued by the President on December 13, 1941, does not
license any act or transaction not authorized hereunder.
(4) Definitions. As used in this general ruling and in any other rulings, licenses, instructions, etc.:
(a) T h e term “ enemy national” shall mean the follow ing:
(i) T h e Government o f any country against which the U nited States has declared war (Ger
many, Italy, Japan, Bulgaria, Hungary, and Rumania) and any agent, instrumentality, or repre
sentative o f the foregoing Governments, or other person acting therefor, wherever situated (includ
ing the accredited representatives o f other governments to the extent, and only to the extent, that
they are actually representing the interests o f the Governments o f Germany, Italy, and Japan and
Bulgaria, Hungary, and Rumania);
(ii) T h e government o f any other blocked country having its seat within enemy territory,
and any agent, instrumentality, or representative thereof, or other person acting therefor, actually
situated within enemy territory;
(iii) Any individual within enemy territory, except any individual w ho is with the armed
forces o f any o f the United Nations in the course o f his service with such forces or w ho is accom
panying such armed forces in the course o f his employment by any of the Governments o f the
U nited Nations or organizations acting on their behalf;
(iv) Any partnership, association, corporation or other organization to the extent that it is
actually situated within enemy territory;
(v) Any person whose name appears on T h e Proclaimed List o f Certain Blocked Nationals,
and any person to the extent that he is acting, directly or indirectly, for the benefit or on behalf
o f any such person; provided that no person so acting shall be deemed to be an enemy national
if he is acting pursuant to license issued under the Order or expressly referring to this general
ruling; and
(vi) Any person to the extent that he is acting, directly or indirectly, for the benefit or on
behalf o f an enemy national (other than a member o f the armed forces o f the U nited States cap
tured by the enemy) if such enemy national is within any country against which the U nited States
has declared war; provided that n o person so acting shall be deeemd to be an enemy national
if he is acting pursuant to license issued under the Order or expressly referring to this general
ruling.
(b) T h e term “ enemy territory” shall mean the follow ing:
(i) T h e territory o f Germany, Italy, Japan, Bulgaria, Hungary, and Rum ania; and
(ii) T h e territory controlled or occupied by the military, naval, or police forces or other
authority o f Japan. Such territory shall be deemed to be those portions o f Burma, China, French
Indo-China, H on g Kong, British Malaya, the Netherlands East Indies, the Philippine Islands and
T h ailan d occu pied by Japan, and any other territory controlled or occupied by Japan.
(c) T h e term “ T h e Proclaimed List o f Certain Blocked Nationals” shall mean T h e Proclaim ed
List o f Certain Blocked Nationals, as amended and supplemented, prom ulgated pursuant to the
President’s Proclam ation o f July 17, 1941%
(d) T h e term "trade or com m unication with an enemy national” shall mean any form o f business
or commercial com m unication or intercourse with an enemy national after March 18, 1942, including,
without limitation, the sending, taking, obtaining, conveying, bringing, transporting, im porting, ex
porting, or transmitting, or the attempt to send, take, obtain, convey, bring, transport, import, export,
or transmit,
(i) Any letter, writing, paper, telegram, cablegram, wireless message, telephone message, or
other com m unication, whether oral or written, o f a financial, com mercial, or business character; or
(ii) Any property o f any nature whatsoever, including any goods, wares, merchandise, securi
ties, currency, stamps, coin, bullion, money, checks, drafts, proxies, powers of attorney, evidences
o f ownership, evidences o f indebtedness, evidences of property, or contracts;
directly or indirectly to or from an enemy national after M arch 18, 1942; provided, however, that with
respect to any government or person becom ing an enemy national after M arch 18, 1942, the date
upon which such government or person became an enemy national shall be substituted fo r the date
March 18, 1942.
[Issued March 18, 1942 (7 F. R. 2168) ; amended November 8, 1942 (7 F. R . 9119) ; September 3. 1943 ( 8 F. R. 1 2 2 8 7 ); June 30, 1944 (9 F. R.
7379) • November 4, 1944 to delete France from the definition of "enem y territory” (9 F. R. 13196) ; February 2. 1945 to delete Belgium from the defini
tion o ( "enemy territory" (10 F. R. 1430) ; February 16, 1945 to delete rinland, Poland and other Baltic areas (10 F. R. 1956) ; March 6, 1945 to delete
Greece from the definition of "enem y territory" (10 F. R. 2576) ; and April 10, 1945 to delete Luxembourg from the deSnition o f "enem y territory"
(10 F. R . 3 904), and May 29, 1945 (10 F. R. 6 3 1 3 ). See Public Circulars N os. >, 18, 19, 24, 2> and 2 6 ; Public Interpretations N os. 4, i , 9, 1S, l 6 and
1 7 ; Press Releases N os. 32, 33, 44, 48, 58, 61, 64, 65, 66, 67 and 71.]

Simultaneously with the original issuance o f General R ulin g N o. 11, the Director o f Censorship issued
Communications R u lin g N o. 1, the text o f which follows:
(1) By virtue o f the authority vested in me by Executive Order No. 8985 (Fed. Reg. Doc. 41-9600)
and T . D. 50536 (Fed. Reg. Doc. 41-9799), the sending or transmitting out o f the U nited States
in the ordinary course of the mail o f any letter or other writing, book, or other paper, or through any
public telegraph or cable service o f any telegram, cablegram or wireless message o f any com m unica
tion is permitted, provided that both of the follow ing conditions are satisfied:
(a) Such com m unication complies with all regulations issued by the office o f Censorship; and
(b) Such com m unication is not addressed to or intended for, or to be delivered, directly or
indirectly, to an enemy national.
(2) N othing contained in this R ulin g shall be deemed to lim it the authority o f the Office o f Cen
sorship to cause to be censored in its absolute discretion, com m unication by mail, cable, radio or other
means o f transmission passing between the United States and any foreign country. A ll com m unica
tions permitted by this R ulin g shall be subject to censorship as fully as if this R ulin g had not been
issued.
(3) As used in this R u lin g the term “ United States” and the term “ person” shall have the mean
ing prescribed in Executive Order No. 8389, as amended, and the term “ enemy national” shall have
the meaning prescribed in General R uling No. 11, issued by the Secretary o f the Treasury thereunder.
(4) This R u lin g may be amended or modified at any time, and the right is reserved to exclude
from the operation hereof, or from the privileges hereby conferred, and to restrict the applicability
hereof with respect to, particular persons or communications or classes thereof.
B y r o n P r ic e ,

D irector o f Censorship.

REGULATIONS LIMITING WITHDRAWALS FROM CERTAIN
BLOCKED GERMAN AND JAPANESE ACCOUNTS
General Ruling No. 11A.
(1) Withdrawals from blocked German and Japanese accounts n ot authorized in certain cases. N o
license or other authorization now outstanding or hereafter issued, unless expressly referring to this general
ruling, shall be deemed to authorize any payment, transfer, or withdrawal from any blocked account if the
person with whom the account is maintained has reasonable cause to believe that any of the follow ing
has an interest in the account:
(a) T h e Government o f Germany or Japan, and any agent, instrumentality, or representative
o f either Government;
(b) A n y individual w ho is a citizen or subject o f Germany or Japan and w ho at any time on or
since Decem ber 7, 1941 has been within the territory o f either country or within any other territory
while it was designated as “ enemy territory” under General R u lin g N o. 11;
(c) Any partnership, association, corporation or other organization which is organized under the
laws of, or which at any time on or since December 7, 1941 has had its principal place of business in,
any territory o f Germany or Japan;
(d) Any partnership, association, corporation, or other organization, situated within any foreign
country, which is a national o f Germany or Japan by reason o f the interest therein o f any government
or person specified in this paragraph.
(2) Continued applicability o f certain general licenses. T h e follow in g general licenses shall continue
applicable, notwithstanding the provisions o f paragraph (1) o f this general ruling.
(a) General License No. 1;
(b) General License No. 1A;
(c) General License N o. 2 only with respect to payment or reimbursement for normal service
charges (as therein defined) other than interest due;
(d) General License No. 4;
(e) General License No. 5;
(f) General License No. 25;
(g) General License No. 26;
(h) General License No. 27;
(i) General License No. 29;
(j) General License No. 30;
00 General License No. 30A;

(1) General License N o. 31;
(ra) General License No. 42.
(3)
C ontinued applicability o f certain specific licenses. Any specific license conferring generally
licensed national status on any person or authorizing the sale, purchase, or exchange o f any securities shall
continue applicable, notwithstanding the provisions of paragraph (1) o f this general ruling.
[Issued May 15, 1945 (10 F. R. 5573) .1

TRANSFERS OF PROPERTY IN A BLOCKED ACCO U N T EFFECTED WITHOUT A
LICENSE— LITIGATION INVOLVING BLOCKED PROPERTY
General Ruling No. 12.
(1) Unless licensed or otherwise authorized by the Secretary o f the Treasury, (a) any transfer after
the effective date o f the Order is null and void to the extent that it is (or was) a transfer o f any property
in a blocked account at the time of such transfer; and (b) no transfer after the effective date o f the Order
shall be the basis for the assertion or recognition o f any right, remedy, power, or privilege with respect to,
or interest in, any property while in a blocked account (irrespective o f whether such property was in a
blocked account at the time o f such transfer).
(2) Unless licensed or otherwise authorized by the Secretary o f the Treasury, n o transfer before the
effective date o f the Order shall be the basis for the assertion or recognition of any right, remedy, power,
or privilege with respect to, or interest in, any property while in a blocked account unless the person with
whom such blocked account is held or maintained had written notice o f the transfer or by any written
evidence had recognized such transfer prior to the effective date o f the Order.
(3) Unless otherwise provided, an appropriate license or other authorization issued by the Secretary
o f the Treasury before, during or after a transfer shall validate such transfer or render it enforceable to the
same extent as it w ould be valid or enforceable but for the provisions o f section 5 (b) of the T rad ing with
the enemy Act, as amended, and Order, regulations, instructions and rulings issued thereunder.
(4) A n y transfer affected by the Order a n d /o r this general ruling and involved in, or arising out of,
any action or proceeding in any Court within the U nited States shall, so far as affected b y the Order a n d /o r
this general ruling, be valid and enforceable for the purpose o f determining for the parties to the action
or proceeding the rights and liabilities therein litigated; provided, however, that no attachment, judgment,
decree, lien, execution, garnishment, or other judicial process shall confer or create a greater right, power,
or privilege with respect to, or interest in, any property in a blocked account than the owner o f such property
could create or confer by voluntary act prior to the issuance o f an appropriate license.
(5) For the purposes o f this general ruling:
(a) T h e term "transfer” shall mean any actual or purported act or transaction, whether or not
evidenced by writing, and whether or not done or perform ed within the United States, the purpose,
intent, or effect o f which is to create, surrender, release, transfer, or alter, directly or indirectly, any
right, remedy, power, privilege, or interest with respect to any property and without lim itation upon
the foregoing shall include the making, execution, or delivery o f any assignment, power, conveyance,
check, declaration, deed, deed of trust, power o f attorney, power o f appointm ent, bill o f sale, mortgage,
receipt, agreement, contract, certificate, gift, sale, affidavit, or statement; the appointm ent o f any agent,
trustee, or other fiduciary; the creation or transfer o f any lien; the issuance, docketing, filing, or the
levy o f or under any judgm ent, decree, attachment, execution, or other judicial or administrative
process or order, or the service of any garnishment; the acquisition o f any interest o f any nature
whatsoever by reason o f a judgm ent or decree o f any foreign country; the fulfillment o f any condition,
or the exercise o f any power o f appointment, power o f attorney, or other power; provided, however,
that the term “ transfer” shall not be deemed to include transfers by operation o f law.
(b) the term “ property” includes gold, silver, bullion, currency, coin, credit, securities (as that
term is defined in section 2(1) o f the Securities Act o f 1933, as amended), bills o f exchange, notes,
drafts, acceptances, checks, letters o f credit, b ook credits, debts, claims, contracts, negotiable documents
o f title, mortgages, liens, annuities, insurance policies, options and futures in com modities, and
evidences o f any o f the foregoing. T h e term "property” shall not, except to the extent indicated, be
deemed to include chattels or real property.
(c) the term “ blocked account” shall refer to a blocked account (including safe deposit box) of
a party to the transfer and shall have the m eaning prescribed in General R u lin g N o. 4 except that it
shall not be deemed to include an account not treated as a blocked account by the person with whom
such account is held or maintained.
(d) the term “ effective date o f the Order” shall have the m eaning prescribed in General R u lin g
N o. 4 except that “ the effective date o f the Order” as applied to any person whose name appears on
the Proclaim ed List o f Certain Blocked Nationals shall be the date u pon which the name o f such
person first appeared on such list.

(e)
the term “ transfer by operation o f law” shall be deemed only to mean any transfer o f any
dower, curtesy, com m unity property, or other interest o f any nature whatsoever, provided that such
transfer arises solely as a consequence o f the existence or change o f marital status; any transfer to any
person by intestate succession; any transfer to- any person as administrator, executor, or other fiduciary
by reason o f any testamentary disposition; any transfer to any person as administrator, executor, or
fiduciary by reason o f judicial appointment or approval in connection with any testamentary disposi
tion or intestate succession; and any transfer pursuant to (i) Netherlands R oyal Decree o f May 24, 1940,
and (ii) Norwegian Provisional Decree o f A pril 22, 1940, concerning the monetary system, etc.
(6)
N othing contained in this general ruling shall be deemed to affect in any way criminal liability
for violation of the Order, or the regulations, ruling, circulars or instructions issued thereunder, or in
connection therewith, or to otherwise m odify any provision thereof.
By. direction o f the President.
[Issued April 21, 1942 (7 F. R. 2 9 9 1 ). See Press Release N o. 34.1

CERTAIN TRANSFERS OF PROPERTY IN A BLOCKED ACCO U N T NOT DEEMED TO BE NULL AND
VOID, OR UNENFORCEABLE, UNDER GENERAL RULING NO. 12
General Ruling No. 12A.
(1) Reference is made to transfers of property in a blocked account which are null and void, or
unenforceable, by virtue o f the provisions o f General R u lin g N o. 12. Such transfers shall not be deemed to
be null and void, or unenforceable, under General R u lin g N o. 12, as to the person with whom such blocked
account was held or m aintained (and as to such person only) in cases in which such a person is able to
establish each o f the follow ing:
(a) Such transfer d id not represent a w ilful violation o f the Order by the person with whom such
blocked account was held or maintained;
(b) T h e person with whom such blocked account was held or m aintained did not have reasonable
cause to know or suspect, in view o f all the facts and circumstances known or available to such person,
that such transfer was not licensed or authorized by the Secretary o f the Treasury, or if a license d id
purport to cover the transfer, that such license had been obtained by misrepresentation or the with
holding o f material facts or was otherwise fraudulently obtained; and
(c) Prom ptly u pon discovery that such transfer was in violation o f the Order, or was not licensed
or authorized by the Secretary o f the Treasury, or if a license d id purport to cover the transfer, that
such license had been obtained by misrepresentation or the w ithholding o f material facts or was other
wise fraudulently obtained, the person with whom such blocked account was held or maintained filed
with the appropriate Federal Reserve Bank a report on Form T F R -1 2 A in triplicate setting forth in
full the inform ation called for therein, provided, however, that such report should not be regarded as
evidence o f com pliance with subdivisions (a) and (b) of this paragraph.
(2) Except as otherwise provided by regulations, rulings, licenses, or instructions expressly referring to
this general ruling, n o license will be required to validate the authority o f any person to act or purport to
act in a transaction directly or indirectly for the benefit or on behalf o f any blocked country or any national
thereof, provided, that the transaction in which such person acts or purports to act is licensed or authorized
by the Secretary o f the Treasury or is not prohibited pursuant to Section 5 (b) o f the T rading with the
enemy Act, as amended.
(3) As used in this general ruling, the term “ blocked account” shall have the same m eaning as that
prescribed in General R ulin g N o. 12.
[Issued February 9. 1943 (8 F. R. 183 3 ).]

PROCEDURE REGARDING APPLICATIONS FOR UNBLOCKING OF CERTAIN
ACCOUNTS AN D OTHER PROPERTY
General Ruling No. 13.
(1) This general ruling relates to the procedure to be follow ed in connection with the filing o f appli
cations for the unblocking o f accounts or other property in which applications it is alleged that no person
having an interest in the property involved is a national o f a blocked country.
(2) Any interested party is entitled to file such an application. Such application shall be filed in the
manner provided in section 130.3 o f the Regulations, and shall contain full inform ation in support o f the
administrative action requested. T h e application for administrative action may be filed on Form T F U -1
or on Form T F E -1 (even though the request for administrative action is not a request for a license), and
any documents or other data as may be relevant to the application should be attached to and made a part
o f the application.

(3)
T h e applicant is entitled to be heard on the application. If the applicant desires to be heard on the
application, either before or after the Treasury Department has taken action on such application, he should
so n otify the Treasury Department. Such notice should contain an appropriate reference to the application
in volved and the names o f the parties desiring to be heard with respect to the application.
[Issued May 22, 1942 (7 F. R. 387 6 ). See Press Release N o. 36.]

TRANSMITTING OF UNITED STATES CURRENCY TO MEXICO PROHIBITED
General Ruling No. 14.
T h e sending, mailing, exporting, or otherwise transmitting o f any U nited States currency out o f the
U n ited States directly or indirectly to M exico on and after August 14, 1942, is hereby prohibited, except as
specifically licensed or otherwise authorized by the Secretary o f the Treasury.
[Issued August 14, 1942 (7 F. R. 6 4 1 7 ). See Press Releases N os. 39, 43 and 60.]

TRANSACTIONS INVOLVING MEXICAN RAILROAD PROPERTY
General Ruling No. 15.
(1) Unless authorized by license issued by the Secretary o f the Treasury expressly referring to this
general ruling:
(a) N o person shall exercise within the United States any right, remedy, power, or privilege (by
self-help, ju d icial process, or otherwise), directly or indirectly against or with respect to any M exican
railroad property; and
(b) A ny seizure by attachment or otherwise o f M exican railroad property, and any judgm ent,
decree, lien, execution, garnishment, or other judicial process against or with respect to such property
is null and void.
(2) T h e provisions o f (1) (a) and (1) (b) above shall not apply to claims arising out of, or with respect
to, current repair, maintenance, and similar charges, in connection with the operation or servicing, within
the U nited States, o f M exican railroad property on or after the date o f this general ruling.
(3) As used in this general ruling, the term “ Mexican railroad property” shall include:
(a) A ll railroad rollin g stock and equipment brought into the U nited States from M exico or
acquired in the U nited States by a railroad in M exico, and with respect to which M exico or a national
thereof has an interest;
(b) A ll earnings, income, or other rights, payable to, or in favor of, M exico o r a national thereof
and created by reason of, or otherwise resulting from, the em ploym ent or use o f such rolling stock or
equipm ent within the U nited States after the date hereof.
[Issued February 4, 1943 (8 F. R. 1674). See Press Release N o . 45.]

REGULATIONS RELATING TO SAFE DEPOSIT BOXES LEASED TO NATIONALS OF BLOCKED COUNTRIES
OR C O N TAIN IN G PROPERTY IN W H IC H NATIONALS OF BLOCKED COUNTRIES HAVE AN INTEREST
General Ruling No. 16.
(1) Access to certain safe deposit boxes prohibited. Except as hereinafter authorized or as specifically
licensed or authorized by the Secretary o f the Treasury, n o person shall be granted access to any safe deposit
b o x within the U nited States leased to any blocked country or national thereof or containing any property
in which any blocked country or national thereof has any interest or which there is reasonable cause to
believe contains property in which any blocked country or national thereof has an interest.
(2) Access authorized under certain conditions.
(a)
Access to any safe deposit box leased to a blocked country or national thereof or containing
property in which any blocked country or national thereof has an interest, and the deposit therein or
rem oval therefrom o f any property is hereby authorized, provided that both o f the follow in g conditions
are com plied with:
(i) Access shall be permitted only in the presence o f an authorized representative o f the
lessor o f such b ox ;
(ii) In the event that any property in which any blocked country o r national thereof has any
interest is to be rem oved from such box, access shall be permitted only in the presence o f an author
ized representative o f a banking institution within the U nited States, which may be the lessor o f
such box, which shall receive such property into its custody immediately u pon rem oval from such

box and which shall h old the same in a blocked account under an appropriate designation indicat
ing the interests therein o f blocked countries or nationals thereof.
T h e above conditions (i) and (ii) shall not apply to access granted to a representative o f the Office of the
A lien Property Custodian pursuant to any rule, regulation or order o f such Office.
(b)
T h e lessee or other person granted access to any safe deposit b o x under this general ruling
(except an agent or representative o f the Office o f the A lien Property Custodian) shall furnish to the
lessor a certificate in triplicate that he has filed or will prom ptly file a report on Form T F R -3 0 0 with
respect to such box, if leased to a national o f a foreign country, and with respect to all property con
tained in the b ox to which access is had in which any foreign country or national thereof has an interest.
T h e lessor shall deliver two copies o f such certificate to the Federal Reserve Bank o f the District in
which the b o x is located. T h e certificate is required only on the first access to the b o x and need not be
furnished if a certificate has been filed pursuant to General License N o. 12 prior to the revocation
thereof. In case a report on Form T F R -3 0 0 was not made before August 20, 1943, a report is hereby
required to be filed on Series L in accordance with the provisions o f P ublic Circular N o. 4C, excluding
Section II-D thereof, which shall be inapplicable, but any reports required under P ublic Circular N o. 4
and not already rendered shall also be filed. W hen n o other date is applicable, the effective date o£
reporting for Series L shall be the date o f access. If none o f the entries specified by Section IV-5-(c) o f
Public Circular N o. 4C is applicable, the phrase “ General R u lin g N o. 16, access to b o x on
194 ” shall be entered in Part A.
[Issued August 20, 1943; amended December 15, 1944 (8 F. R. 11559, 9 F. R. 1 4669).]

REGULATIONS RELATING TO SECURITIES ACCOUNTS OF BANKS OR OTHER
FINANCIAL INSTITUTIONS LOCATED IN BLOCKED COUNTRIES
General Ruling No. 17.
(1) Scope o f Ruling. T h is ruling is applicable to (i) every sale o f securities held in any account m ain
tained in the name o f any bank or other financial institution which is located in a blocked country and
which is not licensed as a generally licensed national, (ii) every purchase o f securities where the cost thereof
is to be debited to any account maintained in the name of any such bank or financial institution, and
(iii) the receipt o f dividends or interest or other incom e on securities held in any account maintained in the
name o f any such bank or financial institution, except—
(a) Transactions effected under General Licenses Nos. 49, 50, 52, or 70; or
(b) Sales o f securities or the receipt o f dividends, interest or other incom e on securities effected
under any other general license or under any specific license, provided that the proceeds thereof are
deposited in a General R u lin g N o. 6 account in the name o f such bank or other financial institution; o r
(c) Transactions effected pursuant to certification as provided in Section (3) hereof.
(2) Purchase and sales o f securities and the receip t o f dividends, interest or oth er incom e on securities
n ot authorized in th e absence o f certain inform ation. N o purchase or sale o f securities or the receipt o f
dividends, interest or other incom e on securities to which this ruling is applicable may be effected under any
specific or general license which does not expressly refer to this General R u lin g unless the person with w hom
the account is maintained is in possession o f the follow ing inform ation:
(a) In the case o f any proposed sale o f securities or the receipt o f dividends, interest or other incom e
on securities—
(i) T h e name, address and nationality o f each person having an interest in the securities o n
the date when such securities were received into the account or on A pril 8, 1940, whichever is
later; and
(ii) T h e name, address and nationality o f each person having an interest in the securities o n
the date when the transaction is effected; and
(iii) If the inform ation submitted with respect to (i) and (ii) discloses that there has been any
change in any interest in such securities, the name, address and nationality o f each transferee o f
any such interest, the date o f each such transfer, and the license under the Order, if any, pursuant
to which it is claim ed that each such transfer was effected; or
(b) In the case o f any proposed purchase o f securities—
(i)
T h e name, address and nationality o f each person who w ill have an interest in such securi
ties as a result o f such transaction.
(3) Certification. Nothwithstanding Section (2) hereof, this ruling shall not be applicable to any pur
chase or sale o f securities or the receipt o f dividends, interest or other incom e o n securities if the bank or

other financial institution in whose name the account is m aintained has certified to the person with whom
such account is maintained:
(a) In the case o f any proposed sale of securities or the receipt o f dividends, interest or other
incom e on securities—
(i) T h at no person w ho is a national o f any blocked country other than the country in which
such bank or other financial institution is located, and that n o person whose name appears on T h e
Proclaim ed List o f Certain Blocked Nationals has an interest in the securities, and that n o such
person has had an interest in such securities since A pril 8, 1940, or the date when such securities
were received into the account, whichever is later; and
(ii) T h a t such bank or other financial institution will u pon request at any time prom ptly
subm it to the diplom atic or consular representatives o f the Government o f the U nited States, duly
accredited to the country in which it is located, satisfactory evidence of, and, in any event, will
submit to the Treasury Department, W ashington, D. C. in duplicate, not later than one year after
the termination o f the present war, a verified statement disclosing (A) the name, address and
nationality o f each person having an interest in the securities on the date when such securities were
received into the account or on A pril 8, 1940, whichever is later; (B) the name, address and nation
ality o f each person having an interest in the securities on the date when the transaction was
effected; and (C) if the inform ation submitted with respect to (A) and (B) discloses that there has
been any change in any interest in such securities, the name, address and nationality o f each
transferee o f any such interest, the date o f each such transfer, and the license under the Order,
if any, pursuant to which it is claimed that each such transfer was effected; or
(b) In the case o f any proposed purchase o f securities—
(i) T h a t no person who is a national o f any blocked country other than the country in which
such bank or other financial institution is located, and that no person whose name appears on T h e
Proclaim ed List o f Certain Blocked Nationals will have an interest in such securities as a result
o f such transaction; and
(ii) T h a t such bank or other financial institution will u pon request at any time prom ptly
submit to the diplom atic or consular representatives o f the Governm ent of the U nited States duly
accredited to the country in which it is located, satisfactory evidence of, and, in any event, will
submit to the Treasury Department, in W ashington, D. C., in duplicate, not later than one year
after the termination of the present war, a verified statement disclosing (A) the name, address and
nationality o f each person who acquired an interest in the securities at the time o f their purchase;
(B) the name, address and nationality o f each person having an interest in the securities as o f any
date or dates (hereafter prescribed) subsequent to the deposit o f such securities in, and prior to
their withdrawal from the account; and (C) if the inform ation submitted with respect to (A) and
(B) discloses that there has been any change in any interest in such securities, the name, address
and nationality o f each transferee o f any such interest, the date of each such transfer, and the
license under the Order, if any, pursuant to which it is claimed that each such transfer was effected.
(4)
R ecord in g and reportin g o f inform ation and the effectuation o f transactions under Section (2)
h ereof, (a) W h en any sale o f securities or the receipt o f any dividends, interest or other incom e to which this
ruling is applicable has been effected, the proceeds may lie credited to any accbunt authorized by license,
provided that, if such account is not maintained in the name or names o f the beneficial owner or owners
o f the securities, a mem orandum record is kept o f the amount so credited and o f the name, address and
nationality o f each such beneficial owner. In the case o f the receipt o f dividends, interest or other incom e
on securities, a m em orandum record shall also be kept with respect to such securities in the manner pre
scribed in Section (4) (b) hereof.
(b) W h en any purchase o f securities to which this ruling is applicable has been effected, the securi
ties may be deposited in any account authorized by license, provided that if such account is not m ain
tained in the name or names o f the beneficial owner or owners o f the securities, a mem orandum record
is kept o f the securities so deposited and o f the name, address and nationality o f each such beneficial
owner.
(c) Any inform ation specified in Section (2) (a) hereof required to be reported on Form T F R -3 0 0
by the person holding the securities, but which has not heretofore been so reported, shall be reported
on Form T F R -3 0 0 , as provided in Section 130.4 o f the Regulations and P ublic Circular N o. 4, not
later than thirty days after a sale o f the securities or the receipt o f dividends, interest or other incom e
thereon effected under Section (2) hereof. A ll inform ation specified in Section (2) o f this ruling with
respect to securities in an account maintained in the name o f a bank or other financial institution which
is located in a blocked country, and which is not licensed as a generally licensed national, not otherwise
required to be reported on Form T F R -3 0 0 , shall be reported by the person with w hom such account is
m aintained on Form T F R -3 0 0 , Series L, in the manner provided in P ublic Circular N o. 4C, as o f the
date o f the receipt o f such securities in such account. Every such report on Form T F R -3 0 0 , Series L,
shall be filed within thirty days after a purchase o r sale o f the securities or the receipt o f dividends,

interest or other incom e thereon effected under Section (2) hereof, whichever occurs first, and shall state
that it is made in accordance with General R ulin g N o. 17.
(5) Effectuation and recording o f certified transactions. W h en any purchase or sale o f securities or
the receipt o f any dividends, interest or other income thereon to which this ruling w ould otherwise be
applicable has been effected pursuant to the certification specified in Section (3) hereof, the proceeds o f the
securities sold, or the dividends, interest or other income received may be credited to, or the securites pur
chased may be deposited in, any account authorized by license, provided, however, that a memorandum
record is kept o f the transaction and that it was effected pursuant to certification under Section (3) o f this
ruling. Each such m em orandum record shall bear the name o f the bank or other financial institution
making the certification, and the number o f such certification.
(6) Form, o f certification and continuing effect o f certain certifications, (a) N o form is prescribed for
the certification specified in Section (3) hereof, but the certifications o f each bank or other financial institu
tion shall be numbered consecutively and every statement submitted to the Treasury Department in accord
ance with Sections (3) (a) (ii) and (3) (b) (ii) hereof shall refer to the num ber of the certification pursuant to
which the transaction was effected. T h e certification specified in Section (3) hereof may be made by a cable
or wireless message which clearly identifies the transaction, and states, in code or otherwise, that the sender
makes the certification specified in Section (3) o f General R u lin g N o. 17.
(b)
A certification made under Section (3) (a) hereof with respect to the receipt o f dividends,
interest or other incom e on securities will, unless the bank or other financial institution making the
certification expressly stipulates otherwise, be deemed to be a continuing certification applicable to the
further receipt o f dividends, interest or other income on the same securities, and the phrase “ the date
when the transaction was effected” in clause (B) o f Section (3) (a) (ii) hereof shall be deemed, in the
case of such certification, to mean the date o f each receipt o f dividends, interest or other income on
such securities effected under such certification.
(7) Proceeds o f sales and incom e from securities to be deposited in G eneral R u lin g N o. 6 accounts.
A ll proceeds o f sales o f securities and all dividends, interest or other incom e received on securities held in
any account m aintained in the name of any bank or other financial institution which is located in a blocked
country, and not licensed as a generally licensed national, shall be deposited in a General R ulin g N o. 6
account in the name o f such bank or other financial institution, unless—
(a) T h e person with whom the account is maintained is in possession o f the inform ation specified
in Section (2) (a) hereof with respect to such securities; or
(b) T h e bank or other financial institution in whose name the account is maintained has made
the certification specified in Section (3) (a) hereof with respect to such securities; or
(c) T h e sale o f such securities or the receipt o f such dividends, interest, or other incom e was
effected under General Licenses Nos. 49, 50, 52, o r 70.
(8) Savings Provision. N one o f the provisions o f this General R u lin g shall be applicable (a) to pur
chases or sales o f securities effected within thirty calendar days after the date hereof pursuant to orders to
buy or to sell specific securities, provided, however, that such orders are outstanding on the date hereof; or
(b) to the receipt o f dividends, interest or other incom e on securities within thirty calendar days after the
date hereof.
(9) Dollar accounts m aintained with a bank or other financial institution which is a national o f a
blocked country. T h e Secretary o f the Treasury may, in his discretion, as a condition to the exercise o f the
privileges o f a license issued, or the issuance o f a license, under the Order, or otherwise, require a verified
statement from any bank or other financial institution which is a national o f a blocked country and main
tains a dollar or securities account with a person within the U nited States, disclosing the names, nationalities
and such other inform ation as may be prescribed, concerning any or all persons who have m aintained dollar
accounts with such bank or other financial institution since the effective date o f the Order with respect
to such persons.
(10) Definitions. For the purposes o f this General R uling:
(a) T h e term “ bank or other financial institution” shall include every person engaged in the
business o f (i) banking, (ii) insurance, (iii) buying, selling or otherwise dealing in securities, or (iv)
managing, operating, conducting or otherwise holding securities or securities accounts for others;
(b) T h e term “ dividends, interest or other incom e on securities” shall include payments o f prin
cipal and payments on account o f the retirement or redem ption o f securities; and
(c) T h e term “ nationality” shall mean the names of all countries o f which a person is a national
within the meaning o f the Order.
[Issued October 20. 1943 (8 F. R. 14341.) See Public Circular N o. 21. Bankers acceptances are securities within the meaning o f this General Ruling.
See Public Interpretation N o. 14; Press Release N o. } 0 .]

REGULATIONS RELATING TO PHILIPPINE ISLANDS
General Ruling No. 18.
(1) Status o f the Philippine Islands under th e freezing regulations. For the purpose of administering
the freezing regulations and com plying with the provisions thereof:
(a) T h e liberated portions o f the Philippine Islands hereafter shall be included within the term
"U n ited States” as defined in paragraph B o f section 5 of the Order and shall not be included within
the term “ foreign country” as defined in paragraph D o f section 5 o f the Order;
(b) Any portions o f the Philippine Islands controlled or occupied by the military, naval or police
forces or other authority o f Japan shall immediately u pon liberation thereof be included within the
term “ United States" and shall cease to be included within the term “ foreign country” .
(2) Status o f P hilippine nationals and property o f Philippine nationals under the freezin g regulations.
F o r the purpose o f administering the freezing regulations and com plying with the provisions thereof:
(a) T h e definition o f the term “ national” as specified in paragraph E o f section 5 o f the Order
shall continue to apply with respect to the Philippine Islands as though the P h ilippine Islands in its
entirety were a “ foreign country” separately designated in the Order and specifically named in section 3
thereof, and the effective date o f the Order as applied to the Philippine Islands were January 1, 1942.
A ny person w ho by virtue o f such definition is a national o f the Philippine Islands shall, unless licensed
as a generally licensed national, continue to be deemed a national o f a blocked country, namely, the
P h ilippine Islands, and the status o f such person as a national o f a blocked country shall not be affected
by the provisions o f paragraph (1) hereof, or by the com plete liberation o f the Philippine Islands.
(b) Any person situated within the liberated portions o f the Philippine Islands w ho is not a
national o f any blocked country other than the Philippine Islands shall be deemed to be a generally
licensed national, provided, however, that this subparagraph shall n ot be deemed to authorize any
payment, transfer, or withdrawal, or other dealing, with respect to:
(i) A ny property situated, held, or maintained in any part o f the U nited States other than
the liberated portions o f the Philippine Islands in which on the date hereof any such person has
any interest; or
(ii) Any incom e from such property accruing on or after the date hereof.
(c) General Licenses Nos. 28, 42 and 80 shall not be deemed to license as a generally licensed
national any person within the liberated portions o f the Philippine Islands.
(3) E xportations o f certain types o f property from the liberated portions o f the P hilippine Islands
■prohibited. Unless authorized by a license or other authorization expressly referring to this general ruling,
the sending, taking, transmitting, or otherwise exporting o f any (i) gold or silver coin or bullion , (ii) cur
rency, (iii) securities, (iv) checks, drafts, bills o f exchange, promissory notes, payment instructions, transfer
orders, or other financial instruments, (v) powers of attorney or other authorizations or instructions to
effect financial or property transactions, or (vi) other evidences o f indebtedness or evidences o f ownership
o f property, from the liberated portions o f the Philippine Islands to any other part o f the U nited States
o r to any foreign country is hereby prohibited.
(4) G eneral R u lin g N o. 10 n ot applicable in the liberated p ortions o f the Philippine Islands. T h e
provisions o f General R u lin g N o. 10 shall not be applicable in the liberated portions o f the Philippine
Islands.
(5) Special provisions relating to the administration o f the freezin g regulations in the liberated p or
tion s o f the P hilippine Islands. For the purpose o f administering the freezing regulations in the liberated
portion s o f the Philippine Islands and com plying with the provisions thereof:
(a) T here is hereby established a Philippine Office o f Foreign Funds C ontrol, at the head o f
which shall be a U nited States Treasury Representative designated by the Secretary o f the Treasury.
Such office shall be charged with the administration of the freezing regulations in the liberated portions
o f the Philippine Islands.
(b) Subject to such regulations, rulings and instructions as the Secretary o f the Treasury may
from time to time prescribe, the U nited States Treasury Representative at the head o f the Philippine
Office o f Foreign Funds C ontrol is hereby authorized and empowered to exercise and perform in the
liberated portions o f the Philippine Islands all authority, duties and functions which the Secretary of
the Treasury is authorized or required to exercise or perform under Sections 3(a) and 5(b) o f the
T rad in g with the enemy Act, as amended, and any executive orders, proclamations, regulations or
rulings that have been or may be issued thereunder.
(6) Definitions. As used herein:
(a) T h e term “ liberated portions o f the Philippine Islands” shall mean the portions o f the Philip
p in e Islands not controlled or occupied by the military, naval or police forces or other authority of
Japan.
(b) T h e term “ freezing regulations” shall mean the Order, and the regulations, rulings, licenses,
instructions, etc., issued by or at the direction of the Secretary o f the Treasury pursuant to the Order
o r Sections 3(a) or 5(b) o f the T rading with the enemy Act, as amended.
[Issued May 25. 1945 (10 F. R. 617 0 ). See Press Release N o. 70.]

GENERAL LICENSES
ISSUED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193 AND SECTION
5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941

PAYMENTS TO BLOCKED ACCOUNTS IN DOMESTIC BANKS
General License No. I, as Amended.
A general license is hereby granted authorizing any payment or transfer o f credit to a blocked account
in a domestic bank in the name of any blocked country or national thereof providing the follow ing terms
and conditions are com plied with:
(1) Such payment or transfer shall not be made:
(a) From any blocked account in a domestic bank; or
(b) From any other blocked account if such payment or transfer represents, directly or indirectly,
a transfer o f the interest o f blocked country or national thereof to any other country or person.
(2) T his general license shall not be deemed to authorize:
(a) A ny payment or transfer to any blocked account held in a name other than that o f the blocked
country or national thereof who is the ultimate beneficiary o f such payment or transfer; or
(b) A ny foreign exchange transaction including, but not by way o f limitation, any transfer o£
credit, or payment o f an obligation, expressed in terms o f the currency o f any foreign country.
T h is general license should not be employed to make any payment or transfer o f credit com prising an
integral part o f a transaction which cannot be effected without the subsequent issuance o f a further license.
[Issued April 30, 1940: amended May 10, 1940; June 17, 1940; July 15, 1940; October 10, 1940; June 14, 1941 (5 F. R. 1616, 1695, 2284, 2309,
2593, 6 F. R. 2907). See Public Circulars N ot. 2 and 21.]

Attention is directed to General Ruling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or communication with an
enemy national as therein defined.
Attention is directed to the restrictions imposed by General Ruling No. 17.

TRANSFERS OF SECURITIES TO BLOCKED ACCOU N TS IN DOMESTIC BANKS
General License No. I A.
A general license is hereby granted authorizing transactions ordinarily incident to the transfer o f
securities from a blocked account in the name o f any person to a blocked account in the same name in a
domestic bank, provided both o f the follow ing terms and conditions are com plied with:
(1) Such securities shall not be transferred from any blocked account in a domestic bank; a n d
(2) Such securities shall not be transferred from any other blocked account if such transfer repre
sents, directly or indirectly, a transfer o f the interest o f a blocked country or national thereof to any
other country or person.
[Issued October 9, 1941 (6 F. R. 5 180). See Public Circulars N os. 9 and 2 1 ; Press Release N o . 21.]

ENTRIES IN CERTAIN ACCOUNTS FOR NORM AL SERVICE CHARGES
General License No. 2, as Amended.
(1) A general license is hereby granted:
(a) Authorizing any banking institution within the U nited States to debit any blocked account
with such banking institution (or with another office within the U nited States o f such banking institu
tion) in payment or reimbursement for normal service charges owed to such banking institution by
the owner o f such blocked account;
(b) Authorizing any banking institution within the United States to make b ook entries against
any foreign currency account maintained by it with a banking institution in any blocked country fo r
the purpose o f responding to debits to such account for normal service charges in connection therewith.
(2) Any banking institution within the U nited States which during any quarterly period enters any
single item in excess o f $500 to any account under the authority o f this general license shall file with the

appropriate Federal Reserve Bank at the end o f such quarterly period a report showing the name o f such
account and the nature and amount o f each item in excess o f $500 entered to such account under the
authority o f this general license during such quarterly period.
(3)
As used in this general license, the term “ normal service charges” shall include charges in payment
or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees;
small adjustment charges to correct bookkeeping errors; and, but not by way o f limitation, m inim um
balance charges, account carrying charges, notary and protest fees, and charges for reference books, ph oto
stats, credit reports, transcripts o f statements, registered mail insurance, stationery and supplies, checkbooks,
and other similar items.
[Issued May 10, 1940; amended June 17, 1940; June 19, 1940; July 15, 1940; October 10, 1940; June 30, 1941; October 9, 1941; Decem
ber 11, 1941; February 21. 1944 (5 F. R. 1695, 2284, 2309, 2593, 4064. 6 F. R. 3214, 5180, 6405, 9 F. R. 2083.) The scope o f General License N o. 2
is extended by General License N o . 29.]

Attention is directed to General Ruling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or communication with an
enemy national as therein defined.
Attention is also directed to General Ruling No. 11A which imposes an additional’ restriction on every license and other
authorization by limiting withdrawals from certain blocked German and Japanese accounts.

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO APRIL 8, 1940 FROM ACCOUNTS
OF N O RW AY AND DENMARK AND THEIR NATIONALS, AN D OF CHECKS AND DRAFTS DRAW N
OR ISSUED PRIOR TO M AY 10, 1940, FROM ACCOUNTS OF NETHERLANDS, BELGIUM AN D LUXEM
BOURG AND THEIR NATIONALS.
General License No. 3, Revoked.
[Issued May 10, 1940; amended May 17; 1940; revoked June 13. 1940 (5 F. R . 1695. 1$24, 2 2 3 9 ).]

SALE OF CERTAIN SECURITIES
Genera! License No. 4, as Amended.
A general license is hereby granted authorizing the bona fide sale o f securities on a national securities
exchange by banking institutions within the U nited States for the account, and pursuant to the authoriza
tion, o f nationals o f any o f the foreign countries designated in Executive Order No. 8389 o f A pril 10, 1940,
as amended, and the making and receipt o f payments, transfers o f credit, and transfers o f such securities
w hich are necessary incidents o f any such sale, provided that;
(a) the proceeds o f the sale are credited to an account in the name o f the national for whose
account the sale was made and in the banking institution within the United States which held the
securities for such national; and
(b) this general license shall not be deemed to authorize the sale of any security registered or
inscribed in the name o f any o f the foreign countries designated in Executive Order N o. 8389 o f A pril
10, 1940, as amended, or any national thereof, irrespective o f the fact that at any time (whether prior
to, on, or subsequent to A pril 10, 1940) the registered or inscribed owner thereof may have, or appears
to have, assigned, transferred or otherwise disposed o f the security.
Each banking institution making any sales herein authorized is required to file prom ptly with the
appropriate Federal Reserve Bank weekly reports showing the details o f the transactions, including a
description o f the securties sold, the dates o f sales, the persons for whose account the sales were made, and
the prices obtained.
T h is amendment o f General License No. 4 shall not be deemed to prevent the com pletion on or prior
to June 6, 1940, o f purchases and sales, which were made prior to June 4, 1940, pursuant to General License
N o. 4, o f securities other than securities registered or inscribed in the name o f any of the foreign countries
designated in Executive Order N o. 8389 o f A pril 10, 1940, as amended, or any national thereof.
Securities issued or guaranteed by the Government o f the U nited States or any state, territory, district,
county, m unicipality or other political subdivision thereof (including agencies and instrumentalities of
the foregoing) need not be sold on a national securities exchange; provided, that such securities are sold
at market value and purusant to all other terms and conditions prescribed in this general license.
[Issued May 10, 1940; amended June 3, 1940; June 17, 1940; July 15, 1940; August 8, 1940; October 10, 1940; September 22, 1942 (5 F. R.
1696, 2132, 2284, 2593, 2806, 4064, 7 F. R. 7518). The scope o f General License N o . 4 is extended by General License N o. 2 9 . See Public Circulars
N os. 9, 14, 19, and 2 1 ; Press Releases N os. 21, 27, 42. J

PAYMENTS TO THE UNITED STATES, STATES AND POLITICAL SUBDIVISIONS
General License No. 5, as Amended.
(1) A general license is hereby granted authorizing the payment from any blocked account to the
U nited States or any agency or instrumentality thereof, or to any state, territory, district, county, m unici
pality, or political subdivision in the U nited States, o f customs duties, taxes, and fees payable thereto by
the owner o f such blocked account.
[Issued May 10, 1940; amended June 17, 1940; July 15, 1940; October 10, 1940; June 30, 1941; September 22, 1942; February 21. 1944
(3 F. R. 1696, 2284, 2393, 4064, 6 F. R. 3214, 7 F. R. 7518, 9 F. R. 2083). The scope o f General License N o . } is extended by General License
N o . 29. See Public Circular N o. 1 9; Public Interpretation N o . 1 8; Press Release N o . 42.]

PAYMENTS FROM ACCOUNTS OF GOVERNMENT OF THE NETHERLANDS
General License No. 6, Revoked.
[Issued May 13, 1940; revoked May 16, 1940 (5 F. R. 1731, 1 80 5 ).]

PAYMENTS FROM ACCOUNTS OF GOVERNMENT OF BELGIUM
AN D BANQUE NATIONALE DE BELGIQUE
General License No. 7, Revoked.
[Issued May 13, 1940; revoked June 26, 1940 (3 F. R. 1732, 2 4 1 0 ).]

PAYMENTS FROM ACCOUNTS OF CERTAIN NETHERLANDS BANKS
General License No. 8, Revoked.
[Issued May 13. 1940; revoked May 16, 1940 (5 F. R. 1732, 181 5 ).]

COMMODITIES FUTURES CONTRACTS
General License No. 9, Revoked.
[Issued May 14, 1940; amended June 17, 1940; July 15, 1940; October 10, 1940; August 11, 1941; October 24, 1941; revoked January 15, 1943
(3 F. R. 1763, 2284, 2593, 4064, 6 F. R . 4045, 5486, 8 F. R. 8 4 5 ).]

PAYMENTS FROM ACCOUNTS OF CERTAIN BELGIAN BANKS
General Licence No. 10, Revoked.
[Issued May 14, 1940; amended May 20, 1940; revoked June 25, 1940 (5 F. R. 1763. 1840, 2 3 9 0 ).]

PAYMENTS FOR LIVING, TRAVELING AND SIMILAR PERSONAL EXPENSES
IN THE UNITED STATES
General License No. II, as Amended.
(1) Certain paym ents fo r living expenses from certain b locked accounts authorized. A general license
is hereby granted authorizing payments and transfers o f credit in the United States from blocked accounts
in domestic banking institutions held in the name o f an individual within the United States to or upon
the order o f such individual, provided that:
(a) Such payments and transfers of credit are made for the living, traveling and similar personal
expenses in the U nited States o f such individual or his family; and
(b) T h e total o f all such payments and transfers of credit made under this general license from
the accounts o f such individual does not exceed $1000 in any one calendar month.
(2) D uty o f banking institutions acting under this license. Banking institutions effecting any such
payment or transfer of credit shall satisfy themselves that the terms o f this license are com plied with.
[Issued May 15, 1940; amended June 17, 1940; July 15, 1940; October 10, 1940; October 28, 1944; November 4, 1944; May 25, 1945 {5 F. R.
1804 , 2284, 2593, 4064, 9 F. R . 12954, 13196, 10 F. R, 6 0 5 7 ).]

Attention is directed to General Ruling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or communication with an
enemy national as therein defined.
Attention is also directed to General Ruling No. 11A which imposes an additional restriction on every license and other
authorization by limiting withdrawals from certain blocked German and Japanese accounts.

LIVING AND PERSONAL EXPENSES OF JAPANESE NATIONALS IN
UNITED STATES
General License No. 11A, Revoked.
[Issued December 11, 1941; revoked September 22, 1942 (6 F. R. 6424, 7 F. R. 7518).

See Public Circular N o . 19.]

ACCESS TO SAFE DEPOSITS BOXES
General License No. 12, Revoked
[Issued May
20, 1940^amended
1940; amended June 17,_194pj^Ju^
1'
_
May^20,
t 5 ^ 1940j October 10, 1940;
July 8, 1941; revoked August 20, 1943, in view o f issuance
o f General Ruling N o . 16 (5 F. R. 1840, 2284, 2593, 4064, 6 F, R. 3349, 8 F. R. 11339). ]

CERTAIN OFFICES OUTSIDE THE UNITED STATES OF CERTAIN B A N K S GENERAL LICENSED NATIONALS
General License No. 13, as Amended
A general license is hereby granted licensing as generally licensed nationals:
(a) the Bombay and Calcutta offices o f the Nederlandsch Indische Handelsbank;
(b) the Djeddah, Calcutta, Bombay and Paramaribo offices o f the Nederlandsche H andel
Maatschappij;
(c) the W illem stad (Curacao) offices of:
(i) the Curacaosche Bank,
(ii) the M aduro 8c Curiel’s Bank,
(iii) the Edwards H enriquez &: C o.;
(d) the Oranjestad (Aruba) office o f the Aruba Bank;
(e) the Buenos Aires, Caracas and Klaracaibo offices o f Banco Holandes U nido;
(f) the R io de Janeiro, Santos and Sao Paulo offices of Banco H ollandez U nido;
(g) the W illem stad and Oranjestad offices o f Hollandsche Bank-Unie;
(h) the Haifa and Istanbul offices o f H ollan d Bank U nion;
(i) the Netherlands T rading Society East, Ltd., L on d on ;
(j) the L on d on office o f the Banque Beige pour l ’Etranger (Overseas), Lim ited;
(k) the offices within the generally licensed trade area, as defined in General License N o. 53, o f
the H on g K ong and Shanghai Banking Corporation.
[Issued May 31, 1940; amended August 8, 1940; June 7, 1941; July 26, 1941; December 26, 1941; January 5, 1942; January 20, 1942;
February 18, 1942; March 13, 1942 ; September 22, 1942 ; September 28. 1943 (5 F. R. 2113, 2806, 6 F. R. 2788. 3722, 6792. 7 F. R. 147, 468,
1126, 2083, 7518, 8 F. R . 13227). See Public Circulars N os. 10, 11, IS. 16, 17 and
Press Releases N os. 23, 31 and 49.]

Attention is directed to General Ruling No. 11. as amended, which imposes an additional restriction on every license and
other authorization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or communication
with an enemy national as therein defined.
Attention is also directed to General Ruling No. 11A which imposes an additional restriction on every license and other
authorization by limiting withdrawals from certain blocked German and Japanese accounts.

CERTAIN OFFICES WITHIN THE UNITED STATES OF CERTAIN BANKS—
GENERALLY LICENSED NATIONALS
General License No. I3A.
A general license is hereby granted licensing as generally licensed nationals:
(a) T h e N ew York Offices of:
(i) the French American Banking Corporation,
(ii) the Banque Beige pour l’Etranger (Overseas), Limited,
(iii) the H ellenic Bank Trust Company,
(iv) the Bank o f Athens Trust Company,
(v) the Bank o f Athens Safe Deposit Company of New York,
(vi) the Bank o f China,
(vii) the Philippine National Bank,
(viii) the Nederlandsche H andel Maatschappij;
(b) the New York agencies of:
(i) Credit Suisse,
(ii) Swiss Bank Corporation;
(c) Netherlands T rad in g Society East, Inc., Delaware;
(d) Swiss Am erican Corporation, New York;
(e) China Defense Supplies, Inc., 1601 V Street, N. W ., W ashington, D. C.;
(f) Universal T rad in g C orporation, 630 Fifth Avenue, New York, New York;
(g) the offices in the territory o f Hawaii of:
(i) the American Security Bank,
(ii) the H onolulu Trust Company,
(iii) the Liberty Bank o f H onolu lu ;

(h) the San Francisco office o f the Bank o f Canton;
(i) the offices within the U nited States of the H on g K ong and Shanghai Banking Corporation.
[Issued September 28, 1943 (8 F. R. 13228). See Press Release N o . 49.]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN OFFICES OF CERTAIN BANKS IN NETHERLANDS WEST INDIES—
GENERALLY LICENSED NATIONALS
General License No. 14, Revoked.
[Issued June 4, 1940; amended June 7, 1941; January 20, 1942; revoked September 28, 1943 (5 F. R. 2139, 6 F. R. 2789, 7 F. R. 468, 8 F. R.
13227). See Press Release N o . 49. This license is now incorporated in General licen se N o . 13.}

TRANSACTIONS INCIDENT TO TRADE BETWEEN THE UNITED STATES
AND THE NETHERLANDS WEST INDIES
General License No. 15, as Amended.
(1)
A general license is hereby granted authorizing all transactions ordinarily incident to the im port
ing and exporting o f goods, wares and merchandise between the United States and the Netherlands West
Indies, provided the follow in g terms and conditions are com plied with:
(a) Imports and exports between the United States and the Netherlands W est Indies shall not
be financed, directly or indirectly, from any blocked account in which any blocked country or any
national thereof, other than the Netherlands or any national thereof, has an interest; and
(b) Imports and exports between the United States and the Netherlands W est Indies shall not
involve, directly or indirectly, property in which any blocked country or any national thereof, other
than the Netherlands or any national thereof, has an interest, or has had an interest since the effective
date o f the Order.
[Issued June 4, 1940; amended June 7, 1941; January 20, 1942; March 13. 1942 (5 F. R. 2139. 6 F. R. 2789. 7 F. R . 468, 208 3 ). See Putin
Circulars N os. i , 13, and 1 7 ; Press Release N o . 31.]
'

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

EXTENSION TO FRANCE OF CERTAIN GENERAL LICENSES
General License No. 16, Revoked.
[Issued June 17, 1940; revoked June 30, 1941 (5 F. R. 2284, 6 F. R. 3 2 1 4 ).]

PAYMENTS OF CHECKS AND DRAFTS DRAW N OR ISSUED PRIOR TO JUNE 17,
1940, FROM ACCOUNTS OF FRANCE AN D ITS NATIONALS
General License No. 17, Revoked.
[Issued June 17, 1940; amended July 20, 1940; revoked August 8. 1940 (5 F. R. 2284, 2638, 2 8 0 7 ).]

NEW YORK OFFICE OF FRENCH AM ERICAN BANKING CORPORATION—
GENERALLY LICENSED NATIONAL
General License No. 18, Revoked.
[Issued June 18, 1940; amended June 7, 1941; revoked September 28, 1943 (5 F. R. 2308, 6 F. R . 2789, 8 F. R. 13228). See Press Release N o. 49.
This license is now incorporated in General License N o. 13A.\

CERTAIN SOUTH AMERICAN, WEST INDIAN, AND NEAR EASTERN OFFICES OF
CERTAIN NETHERLANDS BANKS— GENERALLY LICENSED NATIONALS
General License No. 19, Revoked.
[Issued June 18, 1940; amended June 27, 1940; July 6, 1940; June 7, 1941; January 20, 1942; revoked September 28, 1943 (5 F. R. 2308,
2428, 2511, 6 F. R. 2789, 7 F. R. 468, 8 F. R. 13228). See Public Circular N o. 13; Press Release N o. 49. This licensc is now incorporated in
General License N o. 13.]

PAYMENTS FROM ACCOUNTS OF UNITED STATES CITIZENS DOMICILED OR
RESIDING IN NETHERLANDS WEST INDIES
General License No. 20, as Amended.
A general license is hereby granted authorizing banking institutions within the U nited States to make
all payments, transfers, and withdrawals from accounts in the name o f any individual who is a citizen o f
the U nited States and w ho is dom iciled in, or resident of, the Netherlands West Indies; provided that no
foreign country named in Executive Order N o. 8389, as amended, or any national thereof (other than
such citizen o f the U nited States) has, or has had at any time (whether prior to, on, or subsequent to,
A p ril 10, 1940), any interest o f any nature whatsoever, direct or indirect, in such account.
[Issued June 19, 1940; amended July 8, 1941; March 1}, 1942; September 22, 1942 (5 F. R. 2308, 6 F. R . 3349, 7 F. R . 2083, 7 5 1 8 ).
Public Circulars N os. 17 and 1 9; Press Releases N os. 31 and 42.]

See

A ttention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction hereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every licensc and other
authorization by lim itin g withdrawals from certain blocked German and Japanese accounts.

NETHERLANDS TRADING SOCIETY EAST, LTD., AND NETHERLANDS TRADING
SOCIETY EAST, INC.— GENERAL LICENSED NATIONALS
General License No. 21, Revoked.
[Issued June 21, 1940; amended July 20, 1940; June 7, 1941; January 20, 1942; March 13, 1942; revoked September 28, 1943 (5 F. R. 2351,
2639, 6 F. R. 2790, 8 F. R. 13228). See Public Circulars N os. 13 and 1 7 ; Press Releases N os. 31 and 49. This license is now incorporated in General
Licenses N os. 13 and 13A.J

LONDON AND NEW YORK OFFICES OF BANQUE BELGE POUR L'ETRANGER
(OVERSEAS), LIMITED— GENERALLY LICENSED NATIONALS
General License No. 22, Revoked.
[Issued June 27, 1940; amended June 7, 1941; revoked September 28, 1943 (5 F. R. 2429, 6 F. R. 2790, 8 F. R. 13228).
N o . 49. This license is now incorporated in General Licenses N os. 1 3 and 13A.]

See Press Release

EXTENSION TO LATVIA, ESTONIA, AND LITHUANIA OF CERTAIN
GENERAL LICENSES
General License No. 23, Revoked.
[Issued July 15, 1940; revoked June 30, 1941 (5 F. R . 2593, 6 F. R. 3 2 1 4 ).]

PAYMENTS OF CHECKS AND DRAFTS DRAW N OR ISSUED PRIOR TO JULY 10, 1940. FROM
ACCO U N TS OF LATVIA, ESTONIA, AND LITHUANIA AND THEIR NATIONALS.
General License No. 24, Revoked.
[Issued July 15, 1940; revoked August 28, 1940 (5 F. R. 2593, .3467).]

EFFECT OF ATTACHMENT OF FORM TFEL-2 TO SECURITIES
General License No. 25, as Amended.
A general license is hereby granted under section 2A(1) o f Executive Order N o. 8389, o f A pril 10,
1940, as amended, authorizing the acquisition, disposition or transfer of, or other dealing in, or with
respect to, any security or evidence thereof, to which Treasury Department Form T F E L -2 has been previ
ously attached or affixed by, or under the direction of, the Treasury Department; provided, that this general
license shall not be deemed to authorize any transaction prohibited by reason o f any provision (or ruling
o r regulation thereunder) o f such Order other than section 2A(1).
[Issued July 25, 1940; amended June 30, 1941 (5 F. R. 2671, 6 F. R . 3214) .1

TRANSACTIONS IN CERTAIN AM ERICAN DEPOSITARY RECEIPTS AND
AM ERICAN SHARES
General License No. 26, as Amended.
A general license is hereby granted under section 2A(2) o f Executive Order N o. 8389, o f A pril 10, 1940,
as amended, authorizing the acquisition by, or transfer to, any person within the U nited States o f any

interest in any Am erican Depositary R eceipt or American Share physically situated within the U nited
States representing any security or evidence thereof not physically situated within the U nited States which
R eceipt or Share was admitted to dealings on a national securities exchange on and prior to July 25, 1940;
provided, however, that this general license shall not be deemed to authorize the issuance o f American
Depositary Receipts or American Shares against the deposit after July 25, 1940, o f any security or evidence
thereof not physically situated within the U nited States; and, provided that this general license shall not be
deemed to authorize any transaction prohibited by reason o f any provision (or ruling or regulation there
under) o f such Order other than section 2A (2).
[Issued August 2, 1940; amended July 8, 1941 (5 F. R. 2754, 6 F. R. 3 5 4 9 ).!

PAYMENTS OF DIVIDENDS AND INTEREST ON, AND REDEMPTION AND
COLLECTION OF, SECURITIES
General License No. 27, as Amended.
A general license is hereby granted authorizing:
(1) T h e payment to, and receipt by, a banking institution within the U nited States of funds or
other property representing dividends or interest on securities held by such banking institution in a
blocked account, provided that the funds or other property are credited to or deposited in a blocked
account in the name o f the national for whose account the securities were held, and in the banking
institution within the U nited States which held such securities; and
(2) T h e payment to, and receipt by, a banking institution within the U nited States o f funds
payable in respect o f securities (including coupons) presented by such banking institution to the
proper paying agents within the U nited States for redem ption or collection for the account and pur
suant to the authorization o f nationals o f any blocked country, provided that:
(a) T h e proceeds o f the redem ption or collection are credited to a blocked account in the
name o f the national for whose account the redem ption or collection was made and in the banking
institution within the U nited States which held the securities for such national; and
(b) T h is general license shall not be deemed to authorize the presentment for redem ption o f
any security registered or inscribed in the name o f any blocked country, or any national thereof,
irrespective o f the fact that at any time (whether prior to, on, or subsequent to A pril 10, 1940) the
registered or inscribed owner thereof may have, or appears to have, assigned, transferred or other
wise disposed o f the security; and
(3) T h e performance o f such other acts, and the effecting o f such other transactions, as may be
necessarily incident to any o f the foregoing.
This general license shall not be deemed to authorize any payment, transfer or withdrawal from a
blocked account in which the issuer of, or other obligor with respect to, a security has an interest if such
issuer or obligor is a blocked country or national thereof.
[Issued August 8, 1940; amended June 30, 1941; January 20 1942 ( 5 F. R. 2807, 6 F. R. 3214, 7 F. R. 4 6 8 ). The scope o f General License
N o . 27 is extended by General License N o. 29. See Public Circulars N os. 9, 15, and 2 1 ; Public Interpretation N o. 1 ; Press Release N o . 21.J

Attention is directed to the restrictions imposed by General Ruling No. 17.

INDIVIDUALS W H O ARE CITIZENS OF, AND RESIDING ONLY IN, UNITED STATES—
GENERALLY LICENSED NATIONALS
General License No. 28, as Amended.
(1) A general license is hereby granted licensing as a generally licensed national any individual w ho is:
(a) a citizen o f the U nited States and residing only in the U nited States; and
(b) a national o f any foreign country solely by reason o f having been dom iciled or resident
therein on or since the effective date of the Order;
provided, however, that this license shall not be deemed to license as a generally licensed national any indi
vidual citizen o f the U nited States who is a national o f a foreign country by reason o f any fact other than
that such individual has been dom iciled or resident in such foreign country on or since such effective date.
(2) Reports on Form T F R -3 0 0 are not required to be filed with respect to the property interests o f
any individuals licensed herein as generally licensed nationals.

(3)
T h is general license shall not be deemed to affect securities or evidences thereof delivered, or
required to be delivered, to a Federal Reserve Bank under the provisions o f General R u lin g N o. 5, as supple
mented, or to authorize any transaction with respect to any such securities or evidences thereof or the
proceeds thereof.
[Issued August 8, 1940; amended July 8. 1941; September 9, 1941 (5 F. R. 2807, 6 F. R . 3349, 4 6 6 3 ).]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

APPLICATION OF CERTAIN GENERAL LICENSES TO GENERAL RULING NO. 6 ACCOUNTS
General License No. 29, as Amended.
T h e provisions o f the follow ing general licenses are hereby made applicable to General R u lin g N o. 6
accounts:
(a) General License N o. 2 only with respect to the payment or reimbursement for normal service
charges (as therein defined) other than interest due;
(b) General License N o. 4;
(c) General License N o. 5 only with respect to the payment o f withholding taxes on income
derived from securities in General R u lin g N o. 6 accounts; and
(d) General License No. 27:
provided, how ever, that this general license shall not be deemed to authorize the rem oval o f any coupons
for collection or otherwise from any General R u lin g N o. 6 account unless the bonds to which such coupons
relate are in such General R u lin g N o. 6 account.
[Issued August 9 , 1940; amended June 27, 1941; November 6. 1942; May 18. 1943 (5 F. R. 2807, 6 F. R. 3174, 7 F. R. 9119, 8 F. R . 6 5 9 5 ).]

PAYMENTS FROM, AN D TRANSACTIONS IN THE ADMINISTRATION OF,
CERTAIN TRUSTS
General b'cense No. 30.
A general license is hereby granted authorizing any bank or trust com pany incorporated under the laws
o f the U nited States or o f any state, territory or district o f the U nited States, or any private bank subject to
supervision and exam ination under the banking laws o f any state o f the U nited States, acting as trustee
o f any trust administered in the U nited States or as legal representative o f any estate administered in the
U nited States, in which trust or estate one or more persons w ho are nationals o f one o f the foreign countries
designated in Executive Order No. 8389, as amended, have an interest, beneficial or otherwise, or are
co-trustees or' co-representatives, to engage in the follow ing transactions:
(a) payments o f distributive shares o f principal or incom e to all persons legally entitled thereto
w ho are not nationals of any o f the foreign countries designated in such Executive Order, as amended;
and
(b) other transactions arising in the administration o f such trust or estate which might be
engaged in if no national of any of the foreign countries designated in such Executive Order, as
amended, were a beneficiary, co-trustee or co-representative o f such trust or estate;
provided, however, that this general license shall not be deemed to authorize such trustee or legal representa
tive to engage in any transaction at the request, or u pon the instructions, o f any beneficiary, co-trustee or
co-representative o f such trust or estate or other person who is a national o f any o f the foreign countries
designated in such Executive Order, as amended.
[Issued August 14, 1940 (5 F. R . 2 8 6 3 ). See Public Circular N o . 9 ; Press Release N o . 21.
administration of decedents’ estates. See Public Circular N o. 2 0.]

General License N o . 30 is inapplicable to the

Attention is directed to the provisions o f Alien Property Custodian General Order No. 20 pertaining to the payment,
transfer or distribution to or for the benefit o f any "designated enemy country” or “ designated national” o f property in the
process o f administration by any person acting under judicial supervision, or in court or administrative proceedings.
Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.

TRANSACTIONS INCIDENT TO THE ADMINISTRATION OF CERTAIN
DECEDENTS ESTATES
General License No. 30A.
(1) A general license is hereby granted authorizing all transactions incident to the administration o f
the assets situated within the United States o f any blocked estate in which any one o f the follow in g condi
tions is present:
(a) T h e decedent was not a national of a blocked country at the time o f his death;
(b) T h e decedent was a citizen o f the U nited States and a national o f a blocked country at the
time o f his death solely by reason o f his presence in a blocked country as a result of his employment
by or service with the U nited States Government; or
(c) T h e gross value o f the assets within the U nited States does not exceed $5,000;
provided, however, that any property paid or distributed to a national o f a blocked country pursuant to
this general license shall be subject to all the provisions o f the Order, and provided, further, that any pay
ment or distribution o f any funds, securities or other choses in action to a national o f a blocked country
shall be made by deposit in a blocked account in a domestic bank or with a public officer, agency, or
instrumentality designated by a court having jurisdiction o f the estate (i) in the name o f the national who is
the ultimate beneficiary thereof; (ii) in the name o f a person who is not a national o f a blocked country in
trust for the national who is the ultimate beneficiary; or (iii) under any other designation which clearly
shows the interest therein o f such national.
(2) T h is general license also authorizes all transactions incident to the follow in g limited acts o f admin
istration o f the assets situated within the U nited States o f any other blocked estate:
(a) T h e appointm ent and qualification o f a personal representative;
(b) T h e collection and preservation o f such assets by such personal representative and the payment
o f all costs, fees and charges in connection therewith; and
(c) T h e payment by such personal representative o f funeral expenses and expenses o f the last
illness.
(3) This general license shall not be deemed to authorize:
(a) A ny national o f a blocked country to act as personal representative or co-representative o f
any estate;
(b) Any national o f a blocked country to represent, directly or indirectly, any person who has an
interest in an estate;
(c) A ny transaction directly or indirectly at the request or upon the instructions o f any national
o f a blocked country; or
(d) Any transaction which could not be effected if n o national o f a blocked country had any
interest in such estate.
(4) As used in this general license, the term “ blocked estate” shall mean any decedent’s estate in which
a national o f a blocked country has an interest. A person shall be deemed to have an interest in a decedent’s
estate if he (i) was the decedent; (ii) is a personal representative; or (iii) is a creditor, heir, legatee, devisee,
distributee, or beneficiary.
(5) T his general license authorizes all transactions incident to the collection, conservation, adm in
istration, liquidation, and distribution o f any blocked estate engaged in since the effective date o f the
Order, provided such transactions com ply with the terms and conditions o f this general license.
(6) A ny transfer or other dealing in any property authorized under this general license shall not be
deemed to lim it or restrict the exercise o f any power or authority under section 5 (b) o f the T rad ing with
the enemy Act, as amended.
(7) Attention is directed to the provisions o f Public Circular No. 20.
[Issued October 23, 1942 (7 F. R. 8 633). See Public Circular N o . 20.2

Attention is directed to the provisions o f Alien Property Custodian General O rder No. 20 pertaining to the payment,
transfer or distribution to or for the benefit o f any "designated enemy country” or "designated national” o f property in the
process o f administration by any person acting under ju dicial supervision, or in court or administrative proceedings.
Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization,-by prohibiting any transaction thereunder which directly or indirectly involves any trade o r com m unication with an
enemy national as therein defined.

COLLECTION OF COUPONS FROM CERTAIN SECURITIES BEARING STAMPS
OF DESIGNATED FOREIGN COUNTRIES
General License No. 31, as Amended.
A general license is hereby granted authorizing banking institutions within the U nited States to detach
coupons from securities o f the type referred to in section 2A(1) o f Executive Order N o. 8389, as amended,

w hen such securities have been in the custody or possession o f such banking institutions continuously since
July 25, 1940; to present such coupons for collection; and to perform such other acts and to effect such other
transactions as may be necessarily incident to such collection, notwithstanding the fact that Treasury
Departm ent Form T F E L -2 may not have been previously attached to the securities from which such
coupons are detached.
T h is general license shall not be deemed to authorize any transaction prohibited by reason o f any p ro
vision (or ruling or regulation thereunder) o f such Order other than section 2A(1).
[Issued August 28, 1940 ; amended July 8, 1941 (5 F. R. 3467, 6 F. R . 3 3 4 9 ).]

CERTAIN REMITTANCES FOR NECESSARY LIVING EXPENSES
General License No. 32, as Amended.
(1) A general license is hereby granted authorizing remittances by any individual through any domestic
bank to any individual who is a national o f a blocked country and w ho is within any foreign country, and
any domestic bank is authorized to effect such remittances, provided the follow in g terms and conditions are
com plied with:
(a) Such remittances are made only for the necessary living expenses o f the payee and his house
h old and do not exceed $500 in any one calendar m onth to any one household; provided, however,
that if the payee is within Portugal, Spain, Sweden, or Switzerland and such payee is a national o f any
blocked country other than Portugal, Spain, Sweden, or Switzerland, the total o f all remittances effected
in any calendar m onth under this general license may not exceed $100 to such payee and his household,
except that additional sums not exceeding $25 in any one calendar m onth may be remitted for each
member o f such payee’s household in addition to the payee, provided that in no case shall a sum in
excess o f $200 per calendar m onth be remitted to any such payee and his household;
(b) Such remittances are not made from a blocked account other than from an account in a bank
ing institution within the U nited States in the name of, or in which the beneficial interest is held by,
the payee or members o f his household;
(c) I f the payee is within any blocked country, the remittance may be effected only:
(i) By the payment o f the dollar amount o f the remittance to a domestic bank for credit to
a blocked account in the name o f a banking institution within such country; or
(ii) By the acquisition o f foreign exchange from a person in the U nited States having a
license specifically authorizing the sale o f such exchange.
(d) If the payee is within any foreign country other than a blocked country the remittance may
be effected in the same manner that such remittance w ould be effected if the payee were not a national
o f a blocked country.
(2) A ll individuals making such remittances and all domestic banks effecting such remittances shall
satisfy themselves that the foregoing terms and conditions are com plied with.
(3) Domestic banks through which any such remittances originate shall execute prom ptly Section A
o f Form T F R -1 3 2 in triplicate with respect to each such remittance. W h en so executed, such copies of
Form T F R -1 3 2 shall be forwarded prom ptly to the domestic bank ultimately transmitting abroad (by
cable or Otherwise) the payment instructions for such remittance and the latter bank shall, u pon the
receipt thereof, execute Section B of such copies of Form T F R -1 3 2 and prom ptly file such executed report in
triplicate with the appropriate Federal Reserve Bank. If the domestic bank through which any such rem it
tance originates is also the bank ultimately transmitting abroad the payment instructions for such rem it
tance, then such bank shall execute both Sections A and B o f such report. N o report on Form T F R -1 3 2 shall
be deem ed to have been filed in com pliance with this general license unless both Sections A and B thereof
have been duly executed as herein prescribed.
(4) As used in this general license the term “ household” shall mean:
(a) T hose individuals sharing a com m on dwelling as a family; or
(b) Any individual not sharing a com m on dwelling with others as a family.
[Issued August 30, 1940; amended February 1, 1941; October 23, 1941; February 9, 1943; June 30, 1944 (5 F. R. 3531, 6 F. R. 748, 5467,
8 F. R. 1834, 9 F. R. 737 9 ). See General License N o. 33, as amended; Public Circulars N os. 7, 7A , 7B, 25 and 2 8 ; Public Interpretations N os. 6, 7,
and 8 ; Press Releases N os. 14. 40, 61, 64 and 71.]

Attention is directed to General R u lin g N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by limiLing withdrawals from certain blocked German and Japanese accounts.

CERTAIN REMITTANCES TO SPECIFIED LIBERATED AREAS IN SICILY AND
ITALY FOR NECESSARY LIVING EXPENSES
General License No. 32A, as Amended.
(1) Certain rem ittances to specified liberated areas fo r living expenses authorized. A general license
is hereby granted authorizing remittances by any individual through any domestic bank to any individual
within the liberated areas specified in paragraph (8) of this general license, and any domestic bank is
authorized to effect such remittances, provided the follow ing terms and conditions are com plied with:
(a) Such remittances are made only for the necessary living expenses o f the payee and his house
h old and do not exced $500 in any one calendar m onth to any one household;
(b) Such remittances are not made from a blocked account other than from an account in a
banking institution within the United States in the name of, or in which the beneficial interest is held
by, a citizen o f the U nited States who is the payee or a member o f his household; and
(c) Such remittances are effected only by the payment o f the dollar amount o f the remittance to a
domestic bank for credit:
(i) W h en the remittance is to any individual within the area specified in paragraph (8)(a)
hereof, to a post-liberation blocked account in the name o f ‘‘Bank o f Sicily, A ccount A F.”
(ii) W h en the remittance is to any individual within the area specified in paragraph (8)(b)
hereof, to a post-liberation blocked account in the name o f “ Bank o f Naples, A ccount A F .”
(iii) W h en the remittance is to any individual within the area specified in paragraph (8)(c)
hereof, to a post-liberation blocked account in the name o f “ Bank o f Italy, A ccount A F.”
(2) D uty o f individuals and dom estic banks acting under this license. A ll individuals making such
remittances and all domestic banks effecting such remittances shall satisfy themselves that the foregoing
terms and conditions are com plied with.
(3) R ep orts by dom estic banks effecting remittances. Dom estic banks through which any such rem it
tances originate shall execute prom ptly Section A o f Form T F R -1 3 2 with respect to each such remittance.
W h en so executed, Form T F R -1 3 2 shall be forwarded prom ptly to the domestic bank ultimately transmit
ting abroad the payment instructions for such remittances and the latter bank shall, u pon receipt thereof,
execute Section B o f Form T F R -1 3 2 and prom ptly file such executed report with the appropriate Federal
Reserve Bank. If the domestic bank through which any such remittance originates is also the bank ulti
mately transmitting abroad the payment instructions for such remittance, then such bank shall execute
both Sections A and B of such report. N o report on Form T F R -1 3 2 shall be deemed to have been filed
in com pliance with this general license unless both Sections A and B thereof have been duly executed as
herein prescribed.
(4) R ep orts by dom estic banks maintaining post-liberation blocked accounts. Domestic banks m ain
taining post-liberation blocked accounts pursuant to this general license shall report prom ptly the establish
ment of such accounts, and the balances therein at the end o f each calendar month, to the appropriate
Federal Reserve Bank.
(5) R efunds. Domestic banks are authorized to refund the amount o f any remittance ordered pur
suant to this general license when such domestic banks are advised that such remittance cannot be effected.
(6) W aiver o f G eneral R u ling N o. 5A. Domestic banks are authorized, notwithstanding General
R ulin g No. 5A, to send to and receive from the banks referred to in paragraph (l)(c) hereof nonnegotiable
bank payment orders covering remittances or refunds authorized herein.
(7) Definitions. As used in this general license:
(a) T h e term “ household” shall mean:
(i)
(ii)

those individuals sharing a com m on dwelling as a family; or
any individual not sharing a com m on dwelling with others as a family.

(b) T h e term “ post-liberation blocked account” shall mean a blocked account:
(i)

which is established pursuant to this license or any other license or other authorization
expressly referring to a post-liberation blocked account;
(ii) to which funds may be credited only pursuant to this license or any other license or other
authorization expressly referring to a post-liberation blocked account; and
(iii) with respect to which payments, transfers, or withdrawals or other dealings may not be
made or effected except pursuant to this liccnse or any other license or other authorization
expressly referring to a post-liberation blocked account.

(8)
Designation o f liberated areas to which rem ittances may b e effected. Liberated areas covered by
this general license are:
(a) Sicily;
(b) Sardinia and the follow ing provinces o f Italy: Cosenza, R eggio Calabria, Potenza, Foggia, Bari,
Brindisi, Catanzaro, Matera, A vellino, Taranto, Lecce, Naples, Salerno, Benevento, R om e, Littoria,
Frosinone, and Campobasso;
(c) T h e follow ing provinces o f Italy: Viterbo, T erni, Teram o, Rieti, Pescara, Macerata, Grosseto,
Chieti, A quila, Ascoli-Piceno, Ancona, Arezzo, Livorno, Perugia, Siena, and those portions o f the
provinces o f Florence and Pisa south o f the A rn o R iver; and the follow ing cities o f Italy: Florence and
Pisa.
[Issued February 7, 1944; amended March 30, 1944, June 1, 1944, August 29, 1944, November 24, 1944, February 2, 1945 (9 F. R. 1581,
3489, 5975, 10559, 14010, 10 F. R. 1430). See Press Releases N os. SI, S2, SS, 56, 59 and 62.}

A ttention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by proh ib itin g any transaction thereunder which directly or indirectly involves any trade or com m unication therein
defined.
Attention is also directed to General R u lin g N o. 11A w hich imposes an additional restriction on every license and other
authorization by lim itin g withdrawals from certain blocked German and Japanese accounts.

CERTAIN REMITTANCES TO UNITED STATES CITIZENS IN FOREIGN COUNTRIES
General License No. 33, as Amended.
(1) A general license is hereby granted authorizing remittances by any individual through any domestic
bank to any individual who is a citizen o f the United States within any foreign country and any domestic
bank is authorized to effect such remittances, provided the follow ing terms and conditions are com plied
with:
(a) Such remittances do not exceed $500 in any one calendar m onth to any payee and his house
h old and are made only for the necessary living and traveling expenses o f the payee and his household,
except that an additional sum not exceeding $1,000 may be remitted once to such payee if such sum
w ill be used for the purpose o f enabling the payee or his household to return to the U nited States;
(b) Such remittances are not made from a blocked account other than from an account in a
banking institution within the U nited States in the name of, or in which the beneficial interest is held
by, the payee or members o f his household.
(2) Remittances herein authorized shall be effected pursuant to the terms and conditions o f (c) or
(d), as the case may be, under (1) of General License N o. 32. If remittances cannot be effected pursuant to
(c) under (1) o f General License N o. 32, domestic banks are authorized to effect such remittances in any
o f the follow in g three ways:
(a) By establishing or m aintaining free dollar accounts;
(b) By payment o f the dollar amount o f the remittance to a domestic bank for credit to a blocked
account in the name o f a banking institution within any blocked country; or
(c) By payment o f the dollar account o f the remittance to a domestic bank for credit to the dollar
account o f a banking institution which is not a national o f any blocked country.
(3) A ll individuals making such remittances and all domestic banks effecting such remittances shall
satisfy themselves that the foregoing terms and conditions are com plied with.
(4) W ith respect to each remittance made pursuant to this general license, reports on Form T F R -1 3 2
shall be executed and filed in the manner and form and under the conditions prescribed in General
License N o. 32.
(5) As used in this general license the term “ household” shall be deemed to have the m eaning pre
scribed in General License N o. 32.
[Issued September 10, 1940; amended February 1, 1941; October 23, 1941 (5 F. R. 3634, 6 F. R . 748, 5 468). See Public Circulars N os. 7, 7 A,
2S, and 28,- Public Interpretations N os. 6 and 7 ; Press Releases N os. 14, 40, 61, 64, and 71.J

Attention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enem y national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

EXTENSION OF CERTAIN GENERAL LICENSES TO ANY BLOCKED COUNTRY
General License No. 34.
General Licenses Nos. 1, 2, 4, 5, 9, 11 and 12, as amended, issued under Executive Order N o. 8389 o f
A pril 10, 1940, as amended, are hereby further amended so that as o f the date hereof there shall be substi

tuted for the words "N orway, Denmark, the Netherlands, Belgium, Luxem bourg, France, Latvia, Estonia
or Lithuania," wherever they appear in such general licenses, the words “ any o f the foreign countries desig
nated in Executive Order N o. 8389 o f A pril 10, 1940, as amended.”
tissued October 10, 1940 (F. R. 4 064). The text of each general license referred to in General License N o. 34, as set forth in this publication,
was revised to give effect to the amendments set forth in General License N o . 34. The provisions relating to General Licenses N os. 9 and 12 have
been omitted in view of the revocation of General License N o . 12.]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENT OF CHECKS AND DRAFTS DRAW N OR ISSUED PRIOR TO OCTOBER
9, 1940, FROM ACCOUNTS OF RUMANIA AND ITS NATIONALS
General License No. 35, Revoked.
[Issued October 10, 1940; revoked November 20, 1940 (5 F. R. 4064, 4 5 7 9 ).]

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO M ARCH
4, 1941, FROM ACCOUNTS OF BULGARIA AND ITS NATIONALS
General License No. 36, Expired.
[Issued March 4, 1941; expired April 4, 1941 (6 F. R. 1303).1

PAYMENTS FROM ACCOUNTS OF UNITED STATES CITIZENS IN EMPLOY OF
UNITED STATES IN FOREIGN COUNTRIES
General License No. 37.
A general license is hereby granted authorizing banking institutions within the United States to make
all payments, transfers and withdrawals from accounts in the name o f citizens o f the United States while
such citizens are within any foreign country in the course o f their em ploym ent by the Government o f the
U nited States.
[Issued March 12, 1941; amended November 25. 1942 (6 F. R. 1433. 7 F. R . 9 8 6 2 ).]

Attention is directed to General R u lin g N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO M A R C H 13,
1941, FROM ACCOUNTS OF HUNGARY AN D ITS NATIONALS
General License No. 38, Expired.
[Issued March 13. 1941; expired April 13. 1941 (6 F. R. 1 45 0 ).]

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO M ARCH 24,
1941, FROM ACCOUNTS OF YUGOSLAVIA AN D ITS NATIONALS
General License No. 39, Expired.
[Issued March 24, 1941 ; expired April 24, 1941 (6 F. R . 1626). 1

NEW YORK OFFICES OF CERTAIN GREEK CONTROLLED BANKS—
GENERALLY LICENSED NATIONALS
General License No. 40, Revolted.
[Issued April 28, 1941; amended June 7, 1941; revoked September 28, 1943 (6 F. R. 2191, 2790, 8 F. R. 13228).
This liccnse is now incorporated in General License N o. 13A .]

See Press Release N o. 49.

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO APRIL 28,
1941, FROM ACCOUNTS OF GREECE AND ITS NATIONALS
General License No. 41, Expired.
[Issued April 28, 1941; expired May 28, 1941 (6 F. R. 2 1 9 1 ).]

CERTAIN INDIVIDUALS RESIDING IN UNITED STATES ON FEBRUARY 23, 1942, AND CERTAIN CORPORA
TIONS AND OTHER ORGANIZATIONS— GENERALLY LICENSED NATIONALS. FILING OF REPORTS
O N TFR-42.
General License No. 42, as Amended.
(1) A general license is hereby granted:
(a) Licensing as a generally licensed national any individual residing in the U nited States on
February 23, 1942, and
(b) Licensing as a generally licensed national any partnership, association, corporation, or other
organization which is a national o f a foreign country designated in the Order solely by reason o f the
interest therein o f a person or persons licensed as generally licensed nationals pursuant to this gen
eral license.
(2) T h e follow in g provisions shall govern the filing o f reports under this general license:
(a) Before effecting any transaction pursuant to this general license, the follow in g persons
licensed herein as generally licensed nationals shall file a report in triplicate on Form T F R -4 2 with
the appropriate Federal Reserve Bank:
(i) Every individual who was not residing in the U nited States on June 17, 1940; and
(ii) Every partnership, association, corporation or other organization which prior to February
23, 1942, was not a generally licensed national solely by reason of the interest o f an individual or
individuals referred to in ( i ) above.
A ny person failing to com ply with this reporting requirement is not authorized to engage in any
transaction pursuant to this general license.
(b) Individuals and other persons licensed herein as generally licensed nationals and not falling
within classes referred to in 2 (a) need not file reports on Form T F R -4 2 .
(c) T h is general license shall not be deemed to suspend, cancel, or otherwise m odify in any way
the requirements o f the Order and regulations relating to reports on Form T F R -3 0 0 with respect to
the property interests o f certain persons licensed herein as generally licensed nationals; provided,
how ever, that if reports on T F R -3 0 0 were not, prior to February 23, 1942, required to be filed in
any case or class of cases, such reports are not required to be filed pursuant to this general license.
(3) T h is general license shall not be deemed to license as a generally licensed national:
(a) A ny individual who on or since the effective date o f the Order has acted or purported to
act directly or indirectly for the benefit or on behalf of any blocked country, including the govern
ment thereof;
(b) A ny individual who is a national o f a blocked country by reason o f any fact other than that
such individual has been dom iciled in, or a subject, citizen, or resident of a blocked country at any
time on or since the effective date o f the Order;
(c) Any individual w ho enters a blocked country after February 23, 1942; or
(d) A ny national o f Japan. Nationals o f Japan shall continue to be governed by the provisions
o f General License N o. 68A insofar as General License N o. 68A may be applicable.
[Issued June 14, 1941; amended February 23, 1942 (6 F. K. 2907, 7 F. R . 1492). See Press Releases N os. 10, 16, and 29.1

Attention is directed to General R u ling N o. 11, which imposes an additional restriction on every license and other author
ization, by p ro h ib iti»g any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.

CERTAIN INDIVIDUALS RESIDING ONLY IN THE UNITED STATES SINCE JUNE 17, 1940, AND CERTAIN
CORPORATIONS AND OTHER ORGANIZATIONS— GENERALLY LICENSED NATIONALS. FILING
OF REPORTS.
General License No. 42A, Revoked.
[Issued November 27, 1941; amended January 20, 1942; revoked February 23, 1942 (6 F. R. 6104, 7 F. R. 468, 1492). See Press Release N o . 29.]

NEW YORK OFFICES OF CERTAIN SWISS BANKING INSTITUTIONS—
GENERALLY LICENSED NATIONALS
General License No. 43, Revoked.
[Issued June 14, 1941; revoked September 28, 1943 (6 F. R. 2907, 8 F. R. 13228). See Press Release N o . 49. This license is now incorporated
in General License N o . 1 3^ .]

R O M A N C U R IA — G E N E R A LL Y LIC EN SED N A T IO N A L

General License No. 44.
T h e R om an Curia (or Curia Rom ana) o f the Vatican City State is hereby licensed as a generally
licensed national and all persons to the extent that they are acting for and on behalf o f the Vatican City
State are hereby licensed as generally licensed nationals.
[Issued June 14, 1941 (6 F. R . 2 9 0 7 ).]

Attention is directed to General R u lin g No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENT OF DOCUMENTARY DRAFTS DRAW N UNDER CERTAIN LETTERS OF CREDIT ISSUED PRIOR
TO JUNE 14, 1941, FROM BLOCKED ACCOUNTS OTHER THAN THOSE OF FOREIGN COUNTRIES,
OR NATIONALS THEREOF, DESIGNATED IN ORDER PRIOR TO JUNE 14, 1941.
General License No. 45, Revoked.
[Issued June 14, 1941; amended July 15, 1941; revoked August 1, 1941 (6 F. R. 2907, 3521, 3 8 8 8 ).]

PAYMENT OF CERTAIN SALARIES FROM BLOCKED ACCOUNTS OF CO M M ERCIAL
ORGANIZATIONS IN DOMESTIC BANKS
General License No. 46, Expired.
[Issued June 14, 1941; expired July 15, 1941 (6 F. R. 2 9 0 7 ).]

BANCO DI NAPOLI TRUST CO M PAN Y OF NEW YORK— GENERALLY
LICENSED NATIONAL
General License No. 47, Revoked.
[Issued June 14, 1941; revoked December 11, 1941 (6 F. R. 2908, 6 3 7 2 ).]

BAN CO DE NAPOLI TRUST COMPANY, C H IC A G O — GENERALLY
LICENSED NATIONAL
General License No. 47A, Revoked.
[Issued June 14, 1941; revoked December 11, 1941 (6 F. R. 2908, 6 37 2 ).]

COMPLETION OF SECURITIES TRANSACTIONS CO M M EN CED PRIOR TO II A.M., E.S.T., JUNE 14, 1941
FOR ACCOUNTS OF CERTAIN FOREIGN COUNTRIES OR NATIONALS THEREOF
General License No. 48, Expired.
[Issued June 14, 1941; expired June 17, 1941 (6 F. R. 2 9 0 8 ).]

TRANSACTIONS ON BEHALF OF. OR INVOLVING PROPERTY OF, SWEDEN
AND ITS NATIONALS
General License No. 49, as Amended.
(1)
A general license is hereby granted licensing any transaction referred to in Section 1 o f the Order,
if (i) such transaction is by, or on behalf of, or pursuant to the direction of Sweden, or any national thereof,
or (ii) such transaction involves property in which Sweden, or any national thereof, has at any time on or
since the effective date o f the Order had any interest, provided, that:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction o f any blocked
country or any national thereof, other than Sweden or any national o f Sweden; and
(b) Such transaction does not involve property in which any blocked country or any national
thereof, other than Sweden or any national o f Sweden, has at any time on or since the effective date
of the Order had any interest; and
(c) If such transaction is not by, or on behalf of, or pursuant to the direction o f the Government
o f Sweden or the Sveriges Riksbank, such transaction shall not be effected until a representative in
New York, New York, o f the Swedish Legation, designated for such purpose by the Minister o f Sweden
to the United States, has certified in writing that the Governm ent o f Sweden has determined that such
transaction com plies with the conditions o f paragraphs (a) and (b) above.

(2) T h is license shall not be deem ed to perm it any payment, transfer or withdrawal from any blocked
account other than blocked accounts in the name of the Government o f Sweden or the Sveriges Riksbank,
until the said representative in New York, New York, o f the Swedish Legation has certified, with respect
to the transaction, as provided in paragraph (1) (c) above.
(3) T h is general license shall not apply with respect to any national o f Sweden who is also a national
o f any other blocked country.
(4) A report on Form T F R -1 4 9 shall be filed prom ptly in duplicate with the appropriate Federal
Reserve Bank by any banking institution within the United States:
(a) through which any remittance in excess of $5,000 originates; or
(b) w hich issues, confirms, or advises any letter o f credit involving an amount in excess of
$5,000; or
(c) which debits any blocked account in an amount in excess o f $5,000 for any single item under
the authority o f this general license.
(5) As used in this general license, the “ Governm ent o f Sweden” shall include the governm ent of
any political subdivision (territories, dependencies, possessions, states, departments, provinces, counties,
m unicipalities, districts or other places subject to the jurisdiction thereof), or any political agency or
instrumentality o f the government.
[Issued June 20, 1941; amended February 18, 1942; February 21, 1944 (6 F. R. 3057, 7 F. R. 1126, 9 F. R. 208 4 ). See Public Circulars
N os. 12, 14. and 1 5; Public Interpretations N os. 3 and 6 ; Press Releases N os. 1, 2, 21, and 40. General License N o . 49 is inapplicable to the admin
istration o f decedents' estates. See Public Circular N o. 20.]

A ttention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim itin g withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS O N BEHALF OF SWITZERLAND OR THE BANQUE NATIONALE SUISSE
General License No. 50, as Amended.
(1) A general license is hereby granted licensing any transaction referred to in Section 1 o f the
Order, if such transaction is by, or on behalf of, or pursuant to the direction of the Governm ent o f Switzer
land or the Banque N ationale Suisse, provided, that:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction o f any blocked
country or any national thereof, other than Switzerland or a national o f Switzerland; and
(b) Such transaction does not involve property in which any blocked country or national thereof,
other than Switzerland or any national of Switzerland, has at any time on or since the effective date
o f the Order had any interest.
Any transaction engaged in by the Government o f Switzerland or the Banque Nationale Suisse pursuant
to the order or for the account o f any other national o f Switzerland is also hereby authorized to the same
extent, and under the same circumstances, as though such transaction were solely for the account o f the
Governm ent o f Switzerland or the Banque Nationale Suisse.
(2) T h is general license shall not be deemed to permit any payment, transfer, or withdrawal from
any blocked account, other than blocked accounts in the name o f the Governm ent o f Switzerland or the
Banque N ational Suisse, except as provided in paragraph (3) o f this general license.
(3) T h is general license also authorizes any payment or transfer o f credit or transfer o f securities
from a blocked account in which any national o f Switzerland has an interest to a blocked account in a
dom estic bank in the name o f the Banque Nationale Suisse, if, prior to any such payment or transfer, the
instructions to effect such payment or transfer are confirmed by the Banque Nationale Suisse; provided,
however, that this authorization shall not be deemed to authorize any payment or transfer o f credit or
transfer o f securities from a blocked account in which any national o f a blocked country, other than Switzer
land, has an interest, or has had an interest at any time on or since the effective date o f the Order.
(4) T h is general license shall not apply with respect to any national of Switzerland w ho is also a
national o f any other blocked country.
(5) A report on Form T F R -1 4 9 shall be filed prom ptly in duplicate with the appropriate Federal
Reserve Bank by any banking institution within the United States:
(a) through which any remittance in excess of $5,000 originates; or
(b) which issues, confirms, or advises any letter o f credit involving an am ount in excess o f
$5,000; or
(c) w hich debits any blocked account in an amount in excess o f $5,000 for any single item under
the authority o f this general license.

(6)
As used in this general license, the “ Governm ent o f Switzerland” shall include the government
o f any political subdivision (territories, dependencies, possessions, states, departments, provinces, counties,
municipalities, districts, or other places subject to the jurisdiction thereof), or any political agency or
instrumentality o f the government.
[Issued June 20, 1941; amended _February 18, 1942; February 21, 1944 (6 F. R. 3057, 7 F. R. 1 1 2 6 , 9 F. R . 208 4 ). See Public Circulars
N os. 12, 14, and 1 5; Public Interpretations N os. 3 and 6 ; Press Releases N os. 1, 2, 27, and 40. General License N o . 50 is inapplicable to the admin
istration of decedents' estates. See Public Circular N o . 20.]

Attention is directed to General R u lin g No. 11, which imposes an additional restriction on every licensc and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
.authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

UNION OF SOVIET SOCIALIST REPUBLICS— GENERALLY LICENSED COUNTRY
General License No. 51.
(1) A general license is hereby granted licensing the U nion o f Soviet Socialist R epublics as a gen
erally licensed country.
(2) As used in this general license:
A ny foreign country licensed as a ‘‘generally licensed country,” and nationals thereof, shall be
regarded for all purposes as if such foreign country were not a foreign country designated in the Order.
[Issued June 24, 1941 (6 F. R. 3 100). See Press Releases N os. 1 and 3.]

A ttention is directed to General R u ling N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS O N BEHALF OF, OR INVOLVING PROPERTY OF, SPAIN
AN D ITS NATIONALS
General License No. 52, as Amended.
(1) A general license is hereby granted licensing any transaction referred to in Section 1 o f the Order,
if (i) such transaction is by, or on behalf of, or pursuant to the direction o f Spain, or any national thereof,
or (ii) such transaction involves property in which Spain, or any national thereof, has at any time on or
since the effective date o f the Order had any interest, provided, that:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction o f any blocked
country or any national thereof, other than Spain or any national o f Spain; and
(b) Such transaction does not involve property in which any blocked country or any national
thereof, other than Spain or any national o f Spain, has at any time on o r since the effective date o f the
Order had any interest; and
(c) If such transaction is not by, or on behalf of, or pursuant to the direction o f the Instituto
Espanol de M oneda Extranjera, such transaction shall not be effected until the Instituto Espanol de
M oneda Extranjera has certified in writing that the Instituto Espanol de M oneda Extranjere has
determined that such transaction complies with the conditions o f paragraphs (a) and (b) above.
(2) T h is general license also authorizes any payment or transfer from a blocked account in which
any national o f Spain has an interest to a blocked account in a domestic bank in the name o f the Instituto
Espanol de M oneda Extranjera: provided, however, that this authorization shall not be deemed to
authorize any payment or transfer from a blocked account in which any national o f a blocked country,
other than Spain or any national o f Spain, has an interest or has had an interest at any time on or since
the effective date o f the Order.
(3) Except as provided in paragraph (2), this general license shall not be deem ed to permit any pay
ment, transfer or withdrawal from any blocked account other than blocked accounts in the name o f the
Instituto Espanol de M oneda Extranjera, until the Instituto Espanol de M oneda Extranjera has certified,
with respect to the transaction, as provided in paragraph (1) (c) above.
(4) T h is general license shall not apply with respect to any national o f Spain w ho is also a national
o f any other blocked country.
(5) A report on Form T F R -1 4 9 shall be filed prom ptly in duplicate with the appropriate Federal
Reserve Bank by any banking institution within the United States:
(a) through which any remittance in excess o f $5,000 originates; or
(b) which issues, confirms, or advises any letter o f credit involving an amount in excess o f
$5,000; or

(c)
which debits any blocked account in an amount in excess of $5,000 for any single item under
the authority o f this general license.
„
July 11, 1941; amended February 18, 1942; February 21, 1944 (6 F. R. 3404, 7 F. R. 1126, 9 F. R. 2 084). See General Ruling N o . 9 ;
Public Circulars r\os. 12, 14, 15, and 2 0 ; Public Interpretations N os. 3 and 6 ; Press Releases N os. 1,
27 and 40. This general license is inapplicable
to persons within Tangiers and is inapplicable to the administration of decedents' estates. See Public Circular N o . 20.]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy nations) as therein defined.
A ttention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS INCIDENT TO TRADE WITH MEMBERS OF "THE GENERALLY LICENSED TRADE AREA"
NOT INVOLVING PERSONS NAMED IN "THE PROCLAIMED LIST OF CERTAIN BLOCKED NATIONALS"
General License No. 53, as Amended.
(1) A general license is hereby granted licensing all transactions ordinarily incident to the im porting
and exporting of goods, wares and merchandise between the U nited States and any of the members of the
generally licensed trade area or between the members o f the generally licensed trade area if (i) such
transaction is by, or on behalf of, or pursuant to the direction o f any national of a blocked country within
the generally licensed trade area, or (ii) such transaction involves property in which any such national
has at any time on or since the effective date o f the Order had any interest, provided the follow in g terms
and conditions are com plied with:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction of (i) any person
whose name appears on “ T h e Proclaimed List of Certain Blocked Nationals” , or (ii) any blocked
country or national thereof not within the generally licensed trade area;
(b) Such transaction does not involve property in which (i) any person whose name appears on
“ T h e Proclaim ed List o f Certain B locked Nationals,” or (ii) any blocked country or national thereof
not within the generally licensed trade area, has at any time on or since the effective date o f the
O rder had any interest; and
(c) A ny banking institution within the U nited States, prior to issuing, confirm ing or advising
letters o f credit, or accepting or paying drafts drawn, or reimbursing themselves for payments made,
under letters of credit, or making any other payment or transfer o f credit, in connection with any
im portation or exportation pursuant to this general license, or engaging in any other transaction
herein authorized, shall satisfy itself (from the shipping documents or otherwise) that: (i) any such
transaction is incident to a bona fide im portation or exportation and is customary in the normal course
o f business, and that the value of such im portation or exportation reasonably corresponds with the
sums o f money involved in financing such transaction; and (ii) such im portation or exportation is or
w ill be made pursuant to all the terms and conditions o f this license.
(2) Subject to all other terms and conditions o f this general license any national of a blocked country
d oin g business within the U nited States pursuant to a license is also hereby authorized, while so licensed,
to engage in any transaction referred to in paragraph (1) to the same extent that such national is licensed
to engage in such transaction involving persons within the generally licensed trade area w ho are not
nationals o f a blocked country.
(3) T h is General License shall also authorize any transaction engaged in by a bank within the gen
erally licensed trade area pursuant to the order o f or for the account o f any national o f a blocked country
within the generally licensed trade area to the same extent, and under the same circumstances, as though
such transaction were solely for the account o f such bank; provided, however, that this paragraph shall
not be deemed to permit any payment, transfer or withdrawal from any blocked account; and provided
further that the follow ing terms and conditions are com plied with:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction o f (i) any person
whose name appears on " T h e Proclaim ed List o f Certain Blocked Nationals,” or (ii) any blocked
country or national thereof not within the generally licensed trade area;
(b) Such transaction does not involve property in which (i) any person whose name appears on
“ T h e Proclaim ed List of Certain Blocked Nationals,” or (ii) any blocked country or national thereof
not within the generally licensed trade area, has at any time on or since the effective date o f the Order
had any interest.
(4) As used in this general license:
(а) T h e term “ generally licensed trade area” shall mean the follow ing:
(i) the American Republics, i.e., (1) Argentina, (2) Bolivia, (3) Brazil, (4) Chile, (5) C olom bia,
(б) Costa Rica, (7) Cuba, (8) T h e D om inican R epublic, (9) Ecuador, (10) El Salvador, (11) Guate
mala, (12) Haiti, (13) Honduras, (14) M exico, (15) Nicaragua, (16) Panama, (17) Paraguay, (18)
Peru, (19) Uruguay, and (20) Venezuela;

(ii) the British Com m onwealth o f Nations, i.e., (1) the U nited K ingdom (England, Wales,
Scotland and N orthern Ireland), (2) the British Dom inions (Canada, Australia, New Zealand, the
U nion o f South A frica and N ewfoundland), (3) Eire, (4) the Isle o f Man, (5) India, (6) Egypt,
(7) Anglo-Evptian Soudan, (8) Iraq, (9) all colonies and protectorates under the British Crown,
and (10) all m andated territories administered by the U nited K ingdom or by any British
D om in ion ;
(iii) the U nion o f Soviet Socialist Republics;
(iv) the Faroe Islands;
(v) the Netherlands West Indies;
(vi) the Belgian C ongo and Ruanda-Urundi;
(vii) Greenland;
(viii) Iceland;
(ix) (1) Syria and Lebanon; and (2) the New Hebrides Islands; and
(x) (1) French Equatorial Africa, including the Cameroons; (2) New Caledonia; (3) Tah iti;
(4) the French Establishments in India;
Provided, however, that the term “ generally licensed trade area” shall not include any terri
tory which is controlled or occupied by the military, naval or police forces or other authority of
Japan, Germany, or Italy, or allies thereof.
(b) T h e term “ m em ber” o f the generally licensed trade area shall mean any of the foreign coun
tries or political subdivisions com prising the generally licensed trade area.
(c) T h e term “ T h e Proclaim ed List of Certain Blocked Nationals” shall mean “ T h e Proclaimed
List o f Certain Blocked Nationals” as amended and supplemented promulgated pursuant to the
proclam ation o f July 17, 1941.
[Issued July 17, 1941; amended August 5, 1941; October 9, 1941; December 26, 1941; March 13, 1942; September 22, 1942; April 13, 1943;
May 18, 1943 ; February 21, 1944 (6 F. R. 3556. 3946, 5180, 6792, 7 F. R. 2083, 7518, 8 F. R . 4876, 6595, 9 F. R. 208 4 ). See Public Circulars N os. 3.
10, 12, 16, 17, and 1 9 ; Public Interpretation N o . 2 ; Press Releases N os. 6, 8, 23, 31, and 42, (The proclamation o f July 17, 1941, appears at Page 13
o f this publication).]

Attention is directed to General R u ling N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication w ith an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF C H IN A OR JAPAN, OR ANY
NATIONAL THEREOF, PRIOR TO BUT NOT ON OR SINCE JULY 26, 1941
General License No. 54.
A general license is hereby granted licensing any transaction which is prohibited by the Order solely
by reason o f the fact that it involves property in which China or Japan, or any national thereof, has at any
time prior to July 26, 1941, but not on or since July 26, 1941, had any interest.
T h is general license shall not be deemed to authorize any transaction, if (i) such transaction is by,
or on behalf of, or pursuant to the direction o f China o r Japan, or any national thereof, or (ii) such trans
action involves property in which China or Japan, or any national thereof, has at any time on or since
July 26, 1941, had any interest.
[Issued July 26, 1941 (6 F. R . 3 7 2 2 ).]

Attention is directed to General R u lin g No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENT OF DOCUMENTARY DRAFTS DRAW N UNDER CERTAIN LETTERS OF CREDIT ISSUED OR
ADVISED PRIOR TO JULY 26, 1941, FROM ACCOUNTS OF C H IN A OR JAPAN AN D THEIR NATIONALS
General License No. 55, Expired.
[Issued July 26, 1941; amended August 1. 1941; September 3. 1941; expired September 30, 1941 (6 F. R . 3722, 3888, 4 5 8 6 ).]

CERTAIN TRANSACTIONS BY CO M M ERCIAL ORGANIZATIONS WITHIN
•TERRITORY OF HAW AII W H IC H ARE NATIONALS OF C H IN A
General License No. 56.
(1)
A general license is hereby granted licensing any partnership, association, corporation or other
organization engaged in commercial activities within the Territory o f Hawaii and which is a national o f
China or Japan, to engage in all transactions ordinarily incidental to the normal conduct o f its business
activities within the T erritory o f Hawaii, provided, however, that this general license shall not authorize:

(a) Any transaction which could not be effected without a license if such organization were not
a national o f any blocked country; or
(b) A ny payment, transfer or withdrawal from any blocked account in any banking institution
w ithin any part o f the United States other than the Territory o f Hawaii.
(2) A ny organization engaging in business pursuant to this general license shall not engage in any
transaction, pursuant to this general license or any other general license, which, directly or indirectly, sub
stantially diminishes or imperils the assets o f such organization within the Territory o f H awaii or other
wise prejudicially affects the financial position o f such organization within the Territory o f Hawaii.
(3) A ny such organization shall file with the Governor of the Territory of Hawaii, within sixty days
after the date hereof, an affidavit on Form TF B E -1 setting forth the data called for in such form . Any
organization not com plying with this requirement is not authorized to engage in any transaction under
this general license.
(4) Any bank effecting any payment, transfer, or withdrawal pursuant to this general license shall
satisfy itself that such payment, transfer, or withdrawal is being made pursuant to the terms and conditions
o f this general license.
(5) A ny organization engaging in business pursuant to this general license shall file m onthly reports
in triplicate with the G overnor o f the Territory o f Hawaii setting forth the details o f the transactions
engaged in by it during the reporting period. Such report shall indicate receipts and expenditures classi
fied into general categories by source, payee, and purpose.
[Issued July 26, 1941 (6 F. R . 3 7 2 3 ). Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars N os. 8 and 8 A ; Press
Releases N os. 17 and 20.]

Attention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every licensc and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PRIVILEGES OF ALL GENERAL LICENSES EXTENDED TO H O N G KO N G
General License No. 57, Revoked.
[Issued July 26, 1941; revoked December 26, 1941 (6 F. R . 3723, 6 7 9 2 ). See Public Circular N o . 10.1

TRANSACTIONS INCIDENT TO TRADE BETWEEN THE UNITED STATES AND ANY
PART OF C H IN A OTHER THAN M A N CH U RIA
General License No. 58, as Amended.
(1) A general license is hereby granted licensing all transactions ordinarily incident to the im port
ing and exporting o f goods, wares and merchandise between the U nited States and any part o f China other
than Manchuria, provided the follow in g terms and conditions are com plied with:
(a) Such transaction shall not involve property in which any one o f the follow ing has at any
time on or since the effective date o f the Order had any interest and shall not be by, or on behalf of,
or pursuant to the direction o f any one o f the follow ing:
(i) Any blocked country other than China, or
(ii) Any person within Manchuria, or
(iii) Any national o f any blocked country other than China unless such national is within
China;
(b) Exports from the United States to China having a value in excess o f $100 shall be effected
only provided both o f the follow ing conditions are satisfied:
(i) payment therefor has been or w ill be made through a domestic bank and such domestic
bank has been notified by an appointed bank that the im porter within China has paid or has
com pleted arrangements to pay therefor with U nited States dollars acquired from such appointed
bank, or in lieu o f the foregoing, a domestic bank has been notified by an appointed bank that
the shipment has been otherwise approved by the Commission for the C ontrol o f Foreign Ex
change Assets, Chungking, China; and
(ii) on each shipment the domestic bank referred to in (i) shall execute Form T F R -1 5 8 in
quadruplicate. T h e original o f such executed form shall be transmitted by the domestic bank
directly to the collector o f customs at the port o f exportation and shall be received by such col
lector of customs prior to the exportation o f the shipment. T h e duplicate o f such executed form
shall be delivered by the domestic bank to the exporter or his agent w ho shall present and, if
requested, deliver such copy to the collector o f customs at the p ort o f exportation at the time the
Shipper’s Export Declaration is filed. T h e rem aining two copies o f such executed form shall be
filed prom ptly by the domestic bank with the appropriate Federal Reserve Bank.

(c) Imports into the United States from China having a value in excess o f §100 shall be effected
only provided both o f the follow ing conditions are satisfied:
(i) payment therefor in U nited States dollars has been or w ill be made through a domestic
bank and the exporter within China has sold o r has com pleted arrangements for selling such
U nited States dollars to an appointed bank, or in lieu o f the foregoing, the shipment has been
otherwise approved by the Commission for the Control o f Foreign Exchange Assets, Chungking,
China; and
(ii) prior to the release o f any such shipment from customs custody the collector o f customs
at the port o f entry through which the shipment is im ported shall have received a consular invoice
covering such shipment and such consular invoice shall bear the certification o f a United States
consul in China that an appointed bank has duly notified the consul that the exporter within
China has sold or has com pleted arrangement for selling the United States dollar proceeds from
such shipment to such appointed bank or that the shipment has been otherwise approved by the
Stabilization Board o f China.
(d) T h e conditions prescribed in (b) and (c) shall not apply with respect to any im port or export:
(i) if the shipment was in transit between the U nited States and China on N ovem ber 12,
1941; or
(ii) if the consignee or consignor o f the shipment is the U nited States Government or the
Chinese N ational Government or a recognized agency or political instrumentality o f either gov
ernment; or
(iii) if payment for the shipment was fully effected prior to N ovem ber 12, 1941, and the
follow in g reporting procedure is follow ed: O n each such shipment a domestic bank participating
in financing the shipment shall execute Form T F R -1 5 8 A in quadruplicate. T h e original of such
executed form shall be transmitted by such domestic bank directly to the collector o f customs at
the port o f im portation or exportation, as the case may be, and shall be received by such collector
o f customs prior to the release o f such shipment from customs custody or prior to the exportation
o f such shipment, as the case may be. T h e duplicate o f such executed form shall be delivered
by the domestic bank to the importer or exporter or their respective agents w ho shall present
and, if requested, deliver such copy to the collector o f customs at the time the shipment is released
from customs custody or the Shipper’s Export Declaration is filed, as the case may be. T h e re
m aining two copies o f such executed form shall be filed prom ptly by the domestic bank with the
appropriate Federal Reserve Bank.
(e) Any domestic bank prior to issuing, confirm ing or advising letters o f credit, or accepting or
paying drafts drawn, or reimbursing themselves for payments made, under letters o f credit, or making
any other payment or transfer o f credit, in connection with any im portation or exportation pursuant
to this general license, or engaging in any other transaction herein authorized, shall satisfy itself (from
the shipping documents or otherwise) that:
(i) any such transaction is incident to a bona fide im portation or exportation and is cus
tomary in the normal course o f business, and that the value o f such im portation or exportation
reasonably corresponds with the sums o f money involved in financing such transaction; and
(ii) such im portation or exportation is or w ill be made pursuant to all the terms and con
ditions o f this license.
(2) As used in this general license:
(a) T h e term “ appointed bank” shall mean any o f those banks cooperating with the Commission
for the C ontrol o f Foreign Exchange Assets, Chungking, China and buying and selling foreign ex
change with the permission of, and subject to the conditions prescribed by, such Commission, the
names o f w hich appear on Schedule A o f this general license at the time the transaction is effected.
(b) A person shall not be deemed to be “ within China” unless such person was situated within
and d oin g business within China on and since June 14, 1941.

SCHEDULE A OF GENERAL LICENSE NO. 58
T h e offices within H on g Kong and any part o f China, except Manchuria, o f the follow ing are hereby
licensed as “ appointed banks” within the meaning o f General License N o. 58:
(a) T h e Chase Bank
(b) N ational City Bank o f New York
(c) Underwriters Bank for the Far East
(d) American Express Company
(e) M oscow N arodny Bank, Ltd.
(f) T hos. Cook 8c Son (Bankers) Ltd.
(g) H ongkong 8c Shanghai Banking Corporation

(h)
(i)
(j)
(k)
(1)
(m)
(n)
(o)
(p)
(q)
(r)
(s)
(t)
(u)
(v)
(w)
(x)
(y)
(z)

Mercantile Bank o f India, Ltd.
D avid Sassoon 8c Co., Ltd.
E. D. Sassoon & Co., Ltd.
E. D. Sassoon Banking Co., Ltd.
Chartered Bank o f India, Australia & China, Ltd.
Nederlandsch Indische Handelsbank
Nederlandsche Handel Mattschappij
Shanghai Commercial and Savings Bank, Ltd.
Bank o f East Asia, Ltd.
N ational Commercial Bank, Ltd.
Chekiang Industrial Bank, Ltd.
Bank o f Canton, Ltd.
Oversca-Chinese Banking Corporation, L t d
Kincheng Banking Corporation
China Banking Corporation
Bank o f China
Bank o f Communications
Farmers Bank o f China
Central Bank o f China

[Issued July 26. 1941 ; amended November 12. 1941: March 1 5 , 1944 (6 F. R. 3723, 5802, 9 F. R . 2 849). See Public Circular N o . 3 ; Press
Release N o. 15. Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars N os. 8 and S A ; Press Releases N os. 17 and 20.
Offices within H ong Kong and occupied China o f banks named in Schedule A ceased to be appointed banks on December 26, 1941. See Public Circular
N o . 1 0 ; Press Release N o. 23.1

Attention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

OFFICES OF CERTAIN NEW YORK BANKS AND CERTAIN OTHER INSTITUTIONS WITHIN H O N G KO N G
A N D CHINA, EXCEPT M AN CH U RIA— GENERALLY LICENSED NATIONALS
General License No. 59, as Amended.
(1) A general license is hereby granted licensing as generally licensed nationals the offices within
H ong K ong and any part o f China except Manchuria o f the follow ing:
(a) T h e Chase Bank
(b) N ational City Bank o f New York
(c) Underwriters Bank for the Far East
(d) Am erican Express Company
(e) M oscow N arodny Bank, Ltd.
(f) T hos. C ook & Son (Bankers) Ltd.
(g) H ongkong 8c Shanghai Banking Corporation
(h) Mercantile Bank o f India, Ltd.
(i) David Sassoon 8c Co., Ltd.
(j) E. D. Sassoon & Co., Ltd.
(k) E. D. Sassoon Banking Co., Ltd.
(1) Chartered Bank o f India, Australia 8c China, L t d
(m) Nederlandsch Indische Handelsbank
(n) Nederlandsche H andel Mattschappij
(o) Shanghai Commercial and Savings Bank, Ltd.
(p) Bank o f East Asia, Ltd.
(q) N ational Commercial Bank, Ltd.

(r)

Chekiang Industrial Bank, Ltd.

(s) Bank o f Canton, Ltd.
(t) Oversea-Chinese Banking Corporation, Ltd.
(u) Kincheng Banking Corporation
(v) China Banking Corporation
(2) A ny such office o f any such bank is also authorized to engage in all transactions ordinarily inci
dent to the im porting and exporting o f goods, wares, and merchandise between the U nited States and
any part o f China, except Manchuria, provided all the terms and conditions o f General License N o. 58
are com plied with.
(3) Banking institutions within the U nited States making any payment, transfer or withdrawal from
the accounts o f any such office o f the aforem entioned banking institutions shall file prom ptly with the

appropriate Federal Reserve Bank monthly reports setting forth the details of such transactions during
such period.
[Issued July 26, .1941; amended August 1, 1941; November 12, 1941 (6 F. R. 3723, 3888, 5804). Revoked as to Japan and nationals thereof
December 7, 1941. See Public Circulars N os. 8 and 8 A ; Press Releases N os. 17 and 20. Offices within Hong Kong and occupied China ceased to be
generally licensed nationals on December 26, 1941. See Public Circular N o . 1 0; Press Release N o. 23.]

Attention is directed to General R u lin g No. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which dircctly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

NATIONAL GOVERNMENT OF THE REPUBLIC OF C H IN A AND CENTRAL BANK
OF C H IN A — GENERALLY LICENSED NATIONALS
General License No. 60.
(1) A general license is hereby granted licensing the National Government o f the R epu blic o f China
and the Central Bank o f China as generally licensed nationals.
(2) Any transaction engaged in by such government or such bank pursuant to the order o f or for
the account of any person within China is also hereby authorized to the same extent, and under the same
circumstances, as though such transaction were solely for the account o f such government or such bank;
provided, however, that this authorization shall not be deemed to permit any payment, transfer, or with
drawal from any blocked account except as provided in paragraph (3) o f this general license.
(3) T h is general license shall also authorize any payment or transfer o f credit or transfer o f securities
from any blocked account in which any national o f China has an interest to an account in a domestic
bank in the name o f such government or such bank; provided, no other blocked country or any national
thereof has an interest, or has had an interest in such blocked account at any time on or since the effective
date o f the Order.
(4) Banking institutions within the U nited States making any payment, transfer or withdrawal from
the accounts o f such government or such bank or from any blocked account referred to in paragraph (3)
shall file prom ptly with the appropriate Federal Reserve Bank m onthly reports setting forth the details
o f such transactions during such period.
(5) T h e term “ generally licensed national” as applied to the N ational Government o f the R epu blic
o f China shall mean that such government may be regarded as though China were not a blocked country,
and all persons to the extent that they are acting for or on behalf o f such government may be regarded
as generally licensed nationals.
tissued July 26, 1941 (6 F. R. 3 724). Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars N os. 8 and 8A ; Press
Releases N os. 17 and 20. Offices within Hong Kong and occupied China o f Central Bank of China ceased to be generally licensed nationals on December
26, 1941. See Public Circular N o . 1 0; Press Release N o. 23.]

Attention is directed to General R u lin g No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and othei
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

OFFICES OF CERTAIN CHINESE BANKS OUTSIDE THE UNITED STATES AND NOT WITHIN ANY
BLOCKED COUNTRY OTHER THAN C H IN A — GENERALLY LICENSED NATIONALS
General License No. 61, as Amended.
(1) A general license is hereby granted licensing the offices outside the United States and not within
any blocked country other than China o f the follow ing Chinese banks as generally licensed nationals:
(a) the Bank o f China;
(b) the Bank o f Communications; and
(c) the Farmers Bank o f China.
A ny transaction engaged in by any such office o f any such bank pursuant to the order o f or for the account
o f any person not within any blocked country is also hereby authorized to the same extent, and under the
same circumstances, as though such transaction were solely for the account o f such office o f such bank;
provided, however, that this authorization shall not be deemed to permit any payment, transfer or with
drawal from any blocked account.
(2) Any office within H on g Kong or any part o f China, except Manchuria, o f any such bank is also
authorized to engage in all transactions ordinarily incident to the im porting and exporting o f goods, wares,
and merchandise between the U nited States and any part o f China, except Manchuria, provided all the
terms and conditions o f General License N o. 58 are com plied with.

(3)
Banking institutions within the United States making any payment, transfer or withdrawal from
the accounts of any such office of the aforementioned banks shall file promptly with the appropriate Federal
Reserve Bank monthly reports setting forth the details of such transactions during such period.
[Issued July 26, 1941; amended August 1, 1941; November 12, 1941 ( 6 F. R. 3724, 3888, 580 4 ). Revoked as to Japan and nationals thereof
December 7, 1941 ( 6 F, R. 6304). See Public Circulars N os. 8 and 8 A ; Press Releases N os. 17 and 20. Offices within H ong Kong and occupied China
ceased to be generally licensed nationals on December 26, 1941. See Public Circular N o . 1 0; Press Release N o . 23.]

Attention is directed to General R u ling N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication w ith an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN CHINESE INSTITUTIONS IN W ASHINGTON, D.C., AND IN NEW YORK, N. Y.—
GENERALLY LICENSED NATIONALS
General License No. 62, Revoked.
^ [Issued July 26, 1941; revoked September 28, 1943
in General licen se N o . 13A.]

F. R. 3725,

F. R. 13228). See Press Release N o. 49. This license is now incorporated

OFFICES IN PHILIPPINE ISLANDS OF CERTAIN BANKING INSTITUTIONS—
GENERALLY LICENSED NATIONALS
General License No. 63, Revoked.
[Issued July 26, 1941; revoked January 5, 1942

F. R. 3725, 7 F. R. 1 47 ). See Public Circular N o . I I .]

TRANSACTIONS INCIDENT TO TRADE BETWEEN PHILIPPINE ISLANDS AND C H IN A
AND BETWEEN PHILIPPINE ISLANDS AND JAPAN
General License No. 64, Revoked.
[Issued July

26,

1941; revoked November 12, 1941

F. R. 3725, 580 4 ).]

CERTAIN TRANSACTIONS BY CO M M ERCIA L ORGANIZATIONS WITHIN PHILIPPINE
ISLANDS W H IC H ARE NATIONALS OF C H IN A OR JAPAN
General License No. 65, Revoked.
[Issued July 26, 1941; revoked January 5, 1942

F. R. 3725, 7 F. R . 147 ). See Public Circular N o . I I . ]

H A W A IIA N OFFICES OF CERTAIN BANKS— GENERALLY LICENSED NATIONALS
General License No. 66, Revoked.
[Issued July 2 6 , 1941; revoked September 28, 1943 ( 6 F. R. 3726, 6304, 8 F. R . 13228). Revoked as to Japan and nationals thereof December 7,
1941. See Public Circulars N os. 8, 8/i, and 1 9; Press Releases N os. 17, 20, 42, and 49. This license is now incorporated in General License N o . 13.)

PAYMENT OF CERTAIN SALARIES FROM BLOCKED ACCOUNTS IN DOMESTIC BANKS OF CO M M ERCIA L
O RGANIZATIONS W H IC H ARE NATIONALS OF C H IN A OR JAPAN
General License No. 67, Expired.
[Issued July 26, 1941; expired August 26, 1941

F. R. 3 7 2 6 ).]

NATIONALS OF C H IN A AN D JAPAN RESIDING ONLY IN UNITED STATES SINCE
JUNE 17, 1940— GENERALLY LICENSED NATIONALS
General License No. 68, Revoked.
[Issued July 26, 1941. Revoked February 23, 1942
1941. See Public Circulars N os. 8 and 8/4.]

F. R. 3726, 6304, 7 F. R . 1492). Revoked as to Japan and nationals thereof December 7,

JAPANESE NATIONALS RESIDING CONTINUOUSLY WITHIN CONTINENTAL UNITED STATES SINCE
JUNE 17, 1940, AND CERTAIN JAPANESE BUSINESS ENTERPRISES— GENERALLY LICENSED N A
TIONALS. REPORTS TO BE FILED.
General License No. 68A, as Amended.
(1) A general license is hereby granted:
(a)
Licensing as a generally licensed national any individual who is a national of Japan and who
has been residing only in the continental United States at all times on and since June 17, 1940, and

(b)
Licensing as a generally licensed national any partnership, association, corporation or other
organization within the continental United States which is a national of Japan solely by reason of
the interest therein of a person or persons licensed as generally licensed nationals pursuant to this
general license.
(2) This general license shall not be deemed to license as a generally licensed national:
(a) Any individual, partnership, association, corporation or other organization on the premises
of which the Treasury Department maintains a representative or guard or on the premises of which
there is posted an official Treasury Department notice that the premises are under the control of the
United States Government, or
(b) Any bank, trust company, shipping concern, steamship agency, or insurance company, or
(c) Any person who, on or since the effective date of the Order, has represented or acted as agent
for any person located outside the continental United States or for any person owned or controlled
by persons located outside the continental United States, or
(d) Any person who on or since the effective date of the Order has acted or purported to act
directly or indirectly for the benefit or on behalf of any blocked country, including the government
thereof, or any person who is a national of Japan by reason of any fact other than that such person
has been domiciled in, or a subject or citizen of, Japan at any time on or since the effective date of
the Order.
(3) A report on Series J of Form TFR-300 shall be filed with the appropriate Federal Reserve Bank
on or before February 15, 1942, with respect to the property interests of every person licensed herein as a
generally licensed national if the total value of the property interests to be reported is $1,000 or more.
(4) Every business enterprise licensed herein as a generally licensed national shall also file with the
appropriate Federal Reserve Bank on or before February 15, 1942, an affidavit setting forth the information
required by Form TFBE-1, if the total value of all property interests of such business enterprise is in
excess of $5,000.
(5) As used in this general license, the term “business enterprise” shall mean any individual proprietor
ship, partnership, association, corporation or other organization engaged in commercial or other business
activities within the continental United States.
[Issued December 15, 1941; amended January 14, 1942; March 10, 1942; April 13, 1943 (6 F. R. 6454, 7 F. R. 305, 1854, 8 F. R. 4877).
See Public Circular N o . 4A ; Press Releases N os 19 and 29-J

A ttention is directed to General R u lin g No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

SAN FRANCISCO OFFICE OF THE BANK OF CANTON— GENERALLY
LICENSED NATIONAL
General License No. 69, Revoked.
[Issued July 26, 1941; revoked September 28, 1943 ( 6 F. R . 3726, 6304, 8 F. R. 13228). Revoked as to Japan and nationals thereof December 7,
1941. See Public Circulars N os. 8, 8A and 1 9; Press Releases N os. 17, 20, 42 and 49. This license is now incorporated in General License N o. ISA. ]

TRANSACTION O N BEHALF OF, OR INVOLVING PROPERTY OF. PORTUGAL
AND ITS NATIONALS
General License No. 70, as Amended.
(1) A general license is hereby granted licensing any transaction referred to in Section 1 of the Order,
if (i) such transaction is by, or on behalf of, or pursuant to the direction of Portugal, or any national therof,
or (ii) such transaction involves property in which Portugal, or any national thereof, has at any time on or
since the effective date of the Order had any interest, provided, that—
(a) Such transaction is not by, or on behalf of, or pursuant to the direction of any blocked
country or any national thereof, other than Portugal or any national of Portugal;
(b) Such transaction does not involve property in which any blocked country or any national
thereof, other than Portugal or any national of Portugal, has at any time on or since the effective
date of the Order had any interest; and
(c) If such transaction is not by, or on behalf of, or pursuant to the direction of the Government
of Portugal or the Banco de Portugal, such transaction shall not be effected until the Banco de
Portugal has certified in writing that the Banco de Portugal has determined that such transaction
complies with the conditions of paragraphs (a) and (b) above.
(2) This general license also authorizes any payment or transfer from a blocked account in which any
national of Portugal has an interest to a blocked account in a domestic bank in the name of the Banco

de Portugal; provided, however, that this authorization shall not be deemed to authorize any payment or
transfer from a blocked account in which any national of a blocked country, other than Portugal, has an
interest, or has had an interest at any time on or since the effective date of the Order.
(3) Except as provided in paragraph (2), this general license shall not be deemed to permit any pay
ment, transfer or withdrawal from any blocked account other than blocked accounts in the name of the
Government of Portugal or the Banco de Portugal, until the Banco de Portugal has certified, with respect
to the transaction, as provided in paragraph (1) (c) above.
(4) This general license shall not apply with respect to any national of Portugal who is also a
national of any other blocked country.
(5) A report on Form TFR-149 shall be filed promptly in duplicate with the appropriate Federal
Reserve Bank by any banking institution within the United States:
(a) Through which any remittance in excess of $5,000 originates; or
(b) Which issues, confirms, or advises any letter of credit involving an amount in excess of
$5,000; or
(c) Which debits any blocked account in an amount in excess of $5,000 for any single item under
the authority of this general license.
(6) As used in this general license, the “Government of Portugal” shall include the government of any
political subdivision (territories, dependencies, possessions, states, departments, provinces, counties, munici
palities, districts or other places subject to the jurisdiction thereof), or any political agency or instru
mentality of the government.
[Issued August 11, 1941: amended February 18, 1942; February 2 1 , 1944 ( 6 F. R. 4046, 7 F. R. 1 1 2 6 , 9 F. R. 2084). See Public Circulars
N os. 7A , 12, 14, and 1 } ; Public Interpretations N os. } and 6 ; Press Releases N os. 1, 27, and 40. General License N o. ) 0 is inapplicable to the
administration of decedcnts' estates. See Public Circular N o . 20.}

A ttention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 1IA which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENT FOR SUBSCRIPTIONS TO UNITED STATES PERIODICALS
General License No. 71, as Amended.
(1) A general license is hereby granted authorizing the payment from any blocked account to any
publisher or agent thereof for an individual subscription to a periodical published within the United
States, provided that:
(a) Such publisher (and the agent thereof, if payment is made to an agent of such publisher) is
located within the United States; and
(b) The total amount of any such payments from any blocked account does not exceed $25 in
any one month and does not exceed $100 in any one year.
(2) This general license also authorizes the mailing by any publisher or agent thereof of periodicals to
any addressees, provided that the periodicals are separately mailed from the United States direct to each
addressee.
(3) The term “periodical” as used in this general license shall include, but not by way of limitation,
any newspaper whether published daily or less frequently.
[Issued August 16, 1941, amended February 9, 1943

F. R. 4135,

F. R. 1 83 4 ).]

Attention is directed to General R u ling N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

FILING AND PROSECUTION IN THE UNITED STATES OF APPLICATIONS FOR
PATENTS, TRADEMARKS AND COPYRIGHTS
General License No. 72, as Amended.
(I)
A general license is hereby granted authorizing the following transactions, in which a blocked
country or any national thereof has, on or since the effective date of the Order, had an interest:
(a)
The fiiling and prosecution in the United States Patent Office of applications for letters patent
for inventions and designs and for the registration of trademarks and the receipt of letters patent and
trademark registration certificates issued pursuant to any such application;

(b) The securing and registration of United States copyrights and the registration of claims to
United States copyrights in prints and labels and the receipt of copyright certificates therefor;
(c) The payment from blocked accounts or otherwise, except from accounts in which an enemy
national has an interest, of fees currently due to the United States Government in connection with
any transactions authorized herein;
(d) The payment from blocked accounts or otherwise, except from accounts in which an enemy
national has an interest, of the reasonable and customary fees and charges currently due to attorneys or
representatives within the United States in connection with the transactions referred to in subdivisions
(a), (b), and (c) of this paragraph, provided that such payment shall not exceed
(i) $100 for the preparation, filing, and prosecution of any application for letters patent; or
(ii) $50 for the preparation, filing, and prosecution of any application for a trademark
registration; or
(iii) $25 for the securing and registration of any copyright; or
(iv) $35 for the preparation and filing of any amendment to a pending application for letters
patent or for a trademark registration; and
(e) The execution of, or the recording of, any assignment, grant, encumbrance, license, or other
agreement or arrangement of, under, or with respect to, any United States patent, trademark, or copy
right, or application therefor.
(2) Notwithstanding the provisions of General Ruling No. 11, the transactions specified in paragraph
(1) hereof may be effected even though they involve a communication from an enemy national after March
18, 1942. No other transaction which, directly or indirectly, involves any trade or communication with an
enemy national is authorized by this general license.
(3) Attention is directed to Public Circular No. 5, as amended November 17, 1942, issued by the Treas
ury Department, and to General Order No. 11 issued by the Alien Property Custodian on November 17,
1942.
[Issued September 3, 1941; amended October 23. 1941, and November 17, 1942
as amended.]

F. R. 4586, 5468, 7 F. R. 9 480). See Public Circular N o. S,

Attention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com munication with an
enemy national as therein de6ned.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

FILING AN D PROSECUTION OF APPLICATIONS FOR BLOCKED FOREIGN PATENTS,
TRADEMARKS AND COPYRIGHTS— FILING OF REPORTS O N FORM TFR-132
General License No. 72A.
(1) A general license is hereby granted authorizing the following transactions by any person who is
not a national of any blocked country:
(a) The filing and prosecution of any application for a blocked foreign patent, trademark or
c o p y r ig h t;

(b) The receipt of any blocked foreign patent, trademark, or copyright;
(c) The payment of fees currently due to the government of any foreign country, either directly
or through an attorney or representative in connection with any of the transactions authorized by
subdivisions (a) and (b) of this paragraph or for the maintenance of any blocked foreign patent, trade
mark, or copyright; and
(d) The payment of reasonable and customary fees currently due to attorneys or representatives
in any foreign country incurred in connection with any of the transactions authorized by subdivisions
(a), (b), or (c) of this paragraph, provided that any payments to a national of any blocked country shall
not exceed—
(i) $75 for the preparation, filing, and prosecution of any application for a blocked foreign
patent, trademark, or copyright;
(ii) $25 for the preparation and filing of any amendment to a pending application for a
blocked foreign patent, trademark, or copyright; or
(iii) $10 for services in connection with the payment of any government tax or annuity or
effecting a constructive working of any blocked foreign patent, trademark, or copyright.
(2) Payments effected pursuant to the terms of subdivisions (c) and (d) of paragraph (1) hereof may
not be made from any blocked account. Such payments shall be made in the manner and under the condi
tions specified in paragraph (2) of General License No. 33, as amended.

(3) With respect to each payment authorized by subdivisions (c) and (d) of paragraph (1) hereof,
reports on Form TFR-132 shall be executed and filed in the manner and form and under the conditions
prescribed in General License No. 32, as amended, except that item No. 6 of such form shall be left blank,
and the purpose for which the payment is made shall be indicated on the reverse side of such form.
(4) As used herein the term “blocked foreign patent, trademark, or copyright” shall mean any patent,
petty patent, design patent, trademark or copyright issued by any foreign country, in which a blocked
country or national thereof has an interest, including any patent, petty patent, design patent, trademark,
or copyright issued by a blocked country, provided that the term ‘‘blocked foreign patent, trademark or
copyright” shall not be deemed to include any patent, petty patent, design patent, trademark, or copyright
in which an enemy national has an interest.
[Issued November 17, 1942 (7 F. R. 9 4 8 0 ). See Public Circular N o. 5, at am ended; Press Release N o . 71.]

A ttention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by proh ib itin g any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN CHINESE PARTNERSHIPS— GENERALLY LICENSED NATIONALS
General License No. 73.
(1) A general license is hereby granted licensing as a generally licensed national any partnership which
is a national of China and which meets all of the following conditions:

(a) the partnership has been continuously engaged in business within the continental United
States since prior to June 17, 1940:
(b) the active management and control of such partnership is vested in partners within the United
States who are not nationals of any blocked country (or are licensed as generally licensed nationals);
(c) since prior to June 17, 1940, no partner in such partnership has been a national of any blocked
c o u n t r y o t h e r th a n C h in a .

(2) This general license shall not be deemed to license as a generally licensed national any partnership
which is a national of any blocked country other than China.
(3) All partnerships licensed herein as generally licensed nationals shall file with the appropriate
Federal Reserve Bank within thirty days after the date hereof a report in triplicate setting forth: (a) the
name and address of the partnership; (b) the name, address and nationality of each partner; and (c) a state
ment that the partnership is licensed as a generally licensed national under this general license. Any part
nership not complying with this requirement is not authorized to engage in any transaction under this
general license.
(4) Reports on Form TFR-300 are not required to be filed with respect to the property interests
of any partnership licensed herein as a generally licensed national.
[Issued October 9, 1941 (6 F. R. 518 1 ). See Press Release N o . 13.J

A ttention is directed to General R u lin g No. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENTS FROM ACCOU NTS OF UNITED STATES CITIZENS W H O ARE ABROAD
FOR CERTAIN PERSONAL EXPENSES IN THE UNITED STATES
General License No. 74, as Amended.
(1) Payments from accounts o f certain U nited States citizens authorized. A general license is hereby
granted authorizing all payments, transfers and withdrawals from blocked accounts in the United States
in the name of, or in which the beneficial interest is held by, any citizen of the United States who is within
any foreign country and who is a national of a blocked country solely by reason of having established
residence in a blocked country subsequent to December 1, 1944.

(2) Lim ited payments from accounts o f oth er United States citizens authorized. This general license
also authorizes payments and transfers of credits from blocked accounts in the United States for the
necessary personal expenses in the United States of any citizen of the United States who is within any
foreign country and who is not entitled to the benefits of paragraph (1) hereof, and for the personal
expenses in the United States of the family of such citizen, provided that the following terms and conditions
are complied with;

(a) Such payments and transfers are made only from blocked accounts in the name of, or in
which the beneficial interest is held by, such citizen or his family;
(b) The total of all such payments and transfers made under this general license does not exceed
$500 in any one calendar month for any such citizen or his family.
(3) Certain transactions n ot authorized. This general license shall not be deemed to authorize any
remittance to any blocked country or any other payment, transfer, or withdrawal which could not be
effected without a license if such citizen were within the United States.
(4) D uty o f persons acting under this license. Persons effecting any such payment, transfer, or with
drawal shall satisfy themselves that the terms of this license are complied with.
[Issued October 9. 1941; amended February 9, 194J; March 17, 1945 (6 F. R. 5181, 8 F. R. 1834. 10 F. R. 2961, 3 0 8 0 ).]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

REMITTANCES THROUGH DOMESTIC BANKS TO PERSONS IN ANY PART OF
C H IN A EXCEPT M AN CH U RIA
General License No. 75, as Amended.
(1) A general license is hereby granted authorizing remittances in any amount by any person through
any domestic bank to any person in any part of China except Manchuria, and any domestic bank is author
ized to effect such remittances, provided the following terms and conditions are complied with:
(a) Such remittances may be made from any account other than a blocked account and, subject
to item (b) hereof, such remittances may be made from the blocked account of any national of China.
(b) Such remittances may not be made from any blocked account if any of the following has an
interest in such account:
(i) Any national of any blocked country other than China;
(ii) Any person within Manchuria; or
(iii) Any blocked country other than China; and
(c) Such remittances shall be effected by a domestic bank paying the dollar amount of the remit
tance to a designated agent of the Central Bank of China for the account of an appointed bank.
(2) All domestic banks effecting such remittances shall satisfy themselves that the foregoing terms and
conditions are complied with.
(3) With respect to each remittance made pursuant to this general license reports on Form TFR-132
shall be executed and filed in the manner and form and under the conditions prescribed in General License
No. 32. Domestic banks through which any such remittances originate shall note on the reverse side of
such form the nature of the transaction for which the remittance is being made but need not furnish the
information called for in item 6 of such form.
(4) All dollars accruing to any appointed bank pursuant to this general license shall, if so required
by the Commission for the Control of Foreign Exchange Assets, Chungking, China, be made available to
the Commission by payment to the Central Bank of China against delivery of an equivalent amount of
Chinese national currency.
(5) This general license shall not be deemed to authorize any transaction incidental to imports and
exports between the United States and China.
(6) As used in this general license:
(a) The term “appointed bank” shall have the same meaning as that prescribed in General
License No. 58.
(b) The term “designated agent of the Central Bank of China” shall mean the Bank of China.
[Issued November 12, 1941; amended January 5, 1942; March 15, 1944 ( 6 F. R. 5804, 7 F. R . 147, 9 F. R. 2 849). See Public Circular N o . 7 ;
Press Release N o. 15. Revoked as to Japan and nationals thereof December 7, 1941. S ee Public Circulars N os. 8 and 8A ; Press Releases N os. 17 and
19. Offices within Hong Kong and occupied China of banks named in Schedule A o f General License N o . 58 ceased to be appointed banks on
December 26, 1941. See Public Circulars N os. 10 and 1 1; Press Releases N os. 22 and 23.]

Attention is directed to General R u ling N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF THAILAND, OR ANY NATIONAL
THEREOF, PRIOR TO BUT NOT O N OR SINCE DECEMBER 9, 1941
General License No. 76.
A general license is hereby granted licensing any transaction which is prohibited by the Order solely
by reason of the fact that it involves property in which Thailand, or any national thereof, has at any
time prior to December 9, 1941, but not on or since December 9, 1941, had any interest.
This general license shall not be deemed to authorize any transaction, if (i) such transaction is by, or
on behalf of, or pursuant to the direction of Thailand, or any national thereof, or (ii) such transaction
involves property in which Thailand, or any national thereof, has at any time on or since December 9, 1941,
had any interest.
[Issued December 9, 1941

F. R. 6 3 5 0 ).]

A ttention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by proh ib itin g any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

JAPANESE NATIONALS ENGAGED IN PRODUCTION, MARKETING
OF FOOD IN UNITED STATES

OR DISTRIBUTION

General License No. 77, Revoked.
[Issued December 11. 1941; revoked September 22. 1942

F. R. 6405, 7 F. R. 751 8 ). See Public Circular N o . 19.]

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF H O N G KONG, OR ANY NATIONAL
THEREOF, PRIOR TO BUT NOT O N OR SINCE DECEMBER 25, 1941
General License No. 78.
A general license is hereby granted licensing any transaction which is prohibited by the Order solely
by reason of the fact that it involves property in which Hong Kong, or any national thereof, has at any
time prior to December 25, 1941, but not on or since December 25, 1941, had any interest.
This general license shall not be deemed to authorize any transaction, if (i) such transaction is by, or
on behalf of, or pursuant to the direction of Hong Kong, or any national thereof, or (ii) such transaction
involves property in which Hong Kong, or any national thereof, has at any time on or since December 25,
1941, had any interest.
[Issued December 26, 1941

F. R. 679 2 ). See Presj Releases N os. 22 and 23.]

Attention is directed to General R u ling N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication with an
enem y national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO JANUARY I, 1942
FROM ACCOUNTS OF PHILIPPINE ISLANDS AND THEIR NATIONALS
General License No. 79, Expired.
[ Issued January 5, 1942; expired February

1942 (7 F. R. 1 4 6 ).]

PHILIPPINE CITIZENS RESIDING ONLY IN UNITED STATES OR IN GENERALLY
LICENSED TRADE AREA— GENERALLY LICENSED NATIONALS
General License No. 80.
(1) A general license is hereby granted licensing as a generally licensed national any individual who
is a citizen of the Commonwealth of the Philippine Islands and residing only in the United States or in
the generally licensed trade area, as defined in General License No. 53.
(2) Reports on Form TFR-300 are not required to be filed with respect to the property interests of
any individuals licensed herein as generally licensed nationals.
[Issued January 5, 1942 (7 F. R. 147 ). See Press Release N o . 24.]

A ttention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade o r com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blockcd German and Japanese accounts.

NEW YORK OFFICE OF PHILIPPINE NATIONAL BANK AND CERTAIN OFFICES OF H O N G KO NG AND
SH A N G H A I BANKING CORPORATION— GENERALLY LICENSED NATIONALS
General License No. 81, Revoked.
[Issued January V 1942; revoked September 28, 1943 (7 F. R. 147,
incorporated in General Licenses N os. 13 and 13A.]

F. R. 13228).

See Press Releases N os. 24 and 49.

This license is now

GOVERNMENT OF CO M M O NW EALTH OF PHILIPPINE ISLANDS, UNITED STATES H IG H C O M
MISSIONER, AND CERTAIN OTHERS— GENERALLY LICENSED NATIONALS
General License No. 82.
The government of the Commonwealth of the Philippine Islands, the United States High Commis
sioner to the Philippine Islands, and all officers of the United States Government within the Philippine
Islands, are hereby licensed as generally licensed nationals; and all persons to the extent that they are acting
for and on behalf of the foregoing are hereby licensed as generally licensed nationals. The term ‘‘generally
licensed national” as applied to the government of the Commonwealth of the Philippine Islands shall mean
that such government may be regarded as though the Philippine Islands were not a blocked country.
[Issued January

1942 (7 F. R . 1 4 7 ). See Press Release N o . 24.]

Attention is directed to General R u lin g N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

COLLECTION OF COUPONS FROM SECURITIES REFERRED TO IN
GENERAL RULING NO. 10
General License No. 83, Expired.
[Issued January 14, 1942; amended January 30, 1942 ; expired February 15, 1942 (7 F. R. 305, 6 49).1

CERTAIN UNITED STATES SECURITIES EXEMPTED FROM GENERAL RULING NO. 5
General License No. 84, as Amended.
A general license is hereby granted exempting from the provisions of General Ruling No. 5 the
following securities:
(a) United States Defense and War Savings Stamps and Bonds of all series and designations;
(b) All other securities issued on or after December 7, 1941, which are direct obligations of the
United States, including, but not limited to, bonds, notes, certificates of indebtedness, and Treasury
bills, and interim certificates issued for any such securities.
[Issued November 25, 1942 ; amended January 25, 1944 (7 F. R. 9862,

F. R. 9 4 0 ). See General Ruling N o . 5.J

Attention is directed to General R u lin g No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN TRANSACTIONS IN CONNECTION WITH THE REGISTRATION
OF MEXICAN SECURITIES
General License No. 85.
(1)
A general license is hereby granted authorizing the following transactions with respect to Mexican
securities of the classes specified in the Decree of August 4, 1942, of the United States of Mexico and which
are held in blocked or General Ruling No. 6 accounts in banking institutions within the United States,
notwithstanding the fact that Form TFEL-2 may not have been previously attached to such securities:
(a) The presentation of such securities to an appropriate registry agent within the United States
pursuant to the terms of such Decree;
(b) The receipt and registration of such securities by such registry agent pursuant to the terms
of such Decree; ana
(c) The performance of such other acts as are necessarily incident to such registration;
Provided, however, that any registry agent receiving any such security pursuant to this general license shall
hold such security within the United States and subject to the provisions of section 5 (b) of the Trading with

the enemy Act, as amended, and the Order; and shall, within a reasonable period of time after such security
has been received, return it to the banking institution previously holding such security, and such banking
institution shall return such security to the account in which it was previously held.
(2)
This general license shall also authorize the transactions, above described, with respect to securities
of the type referred to in section 2A (1) of the Order when such securities have been in the custody or
possession of the same banking institution within the United States, continuously since July 25, 1940, not
withstanding the fact that Treasury Department Form TFEL-2 may not have been previously attached
to such securities.
[Issued April

13,

1943

F. R . 4 8 7 7 ).]

Attention is directed to General R u ling No. II , w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder w hich directly or indirectly involves any trade or com m unication w ith an
enemy national as therein defined.
A ttention is also directed to General R u lin g No. 1IA which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

TRANSACTIONS INVOLVING BLOCKED LIFE INSURANCE POLICIES
General License No. 86.
(1) A general license is hereby granted authorizing the following transactions:
(a) The payment of premiums and interest on policy loans with respect to any blocked life
insurance policy;
(b) The issuance, servicing or transfer of any blocked life insurance policy in which the only
blocked interest is that of one or more of the following:
(i) A member of the armed forces of the United States or a person accompanying such forces
(including personnel of the American Red Cross, United Service Organizations and similar
organizations):
(ii) An officer or employee of the United States; or
(iii) A citizen of the United States resident in a blocked country not within enemy terri
tory; and
(c) The issuance, servicing or transfer of any blocked life insurance policy in which the only
blocked interest (other than that of a person specified in 1 (b) above) is that of a beneficiary.
Provided, however, that this paragraph does not authorize (i) any payment to the insurer from any blocked
account in which an enemy national (other than a person specified in (1) (b) above) has an interest, or from
any other blocked account except a blocked account of the insured or beneficiary, or (ii) any payment by the
insurer to a national of a blocked country unless payment is made by deposit in a blocked account in a
domestic bank in the name of the national who is the ultimate beneficiary thereof.
(2) Notwithstanding the provisions of General Ruling No. 11, the transactions authorized by para
graph (1) (b) above may be effected even though they involve a communication from a person specified in
paragraph (1) (b) (i) or (1) (b) (ii) above while such person is within enemy territory.
(3) This general license further authorizes the application, in accordance with the provisions of the
policy or the established practice of the insurer, of the dividends, cash surrender value, or loan value, of
any blocked life insurance policy for the purpose of:
(a) Paying premiums;
(b) Paying policy loans and interest thereon;
(c) Establishing paid-up insurance; or
(d) Accumulating such dividends or values to the credit of the policy on the books of the insurer.
(4) As used in this general license:
(a) The term “blocked life insurance policy” shall mean any life insurance policy or annuity
contract, or contract supplementary thereto, in which there is a blocked interest.
(b) Any interest of a national of a blocked country shall be deemed to be a “blocked interest.”
(c) The term “servicing” shall mean the following transactions with respect to any blocked life
insurance policy:
(i) The payment of premiums, the payment of loan interest, and the repayment of policy
loans;
(ii) The effecting by a life insurance company or other insurer of loans to an insured;
(iii) The effecting on behalf of an insured of surrenders, conversions, modifications, and rein
statements; and
(iv) The exercise or election by an insured of nonforfeiture options, optional modes of settle
ment, optional disposition of dividends, and other policy options and privileges not involving pay
ment by the insurer.

(d)
The term “transfer” shall mean the change of beneficiary, or the assignment or pledge of the
interest of an insured in any blocked life insurance policy subsequent to the issuance thereof.
(5)
This general license shall not be deemed to authorize any transaction with respect to any blocked
life insurance policy issued by a life insurance company or other insurer which is a national of a blocked
country or which is not doing business or effecting insurance in the United States.
[Issued July 7. 1943 <8 F. R. 9 3 2 0 ).]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

ACQUISITION OF CERTAIN SECURITIES PHYSICALLY SITUATED OUTSIDE
OF THE UNITED STATES
General License No. 87.
(1) Transactions licensed under Section 2A (2) o f the Order. A general license is hereby granted under
Section 2A (2) of the Order authorizing the acquisition by, or transfer to, any person within the United
States of any interest in:
(a) Securities or evidences thereof physically situated in Great Britain, Canada, Newfoundland,
or Bermuda;
(b) Securities or evidences thereof issued in any other member of the generally licensed trade area,
which are physically situated in, and payable solely in the currency of, the country where issued, except
securities or evidences thereof issued by a person engaged in the business of offering, buying, selling,
or otherwise dealing or trading in securities or evidences thereof issued by another person.
(2) Definitions. The term “member” of the generally licensed trade area shall have the meaning pre
scribed in General License No. 53, as amended.
(3) Transactions n ot authorized. This general license shall not be deemed to authorize any transac
tion prohibited by any provision (or ruling or regulation thereunder) of the Order other than Section 2A (2).
[Issued July 19, 1943 (8 F. R. 10656).]

Attention is directed to General R u ling No. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

IMPORTATION AND EXPORTATION OF CERTAIN CHECKS AND
U. S. POSTAL MONEY ORDERS
General License No. 88.
(1) Certain transactions authorized notwithstanding G eneral R u lin g N o. 5A . A general license is
hereby granted, notwithstanding General Ruling No. 5A, authorizing the following transactions:
(a) The exportation of any United States postal money order drawn in favor of a member of the
armed forces of the United States or other authorized person and sent through the Army Post Office or
other official channels of the United States armed services or carried by a member of the armed forces
of the United States or other authorized person departing from the United States;
(b) The importation of any United States postal money order sent by a member of the armed
forces of the United States or other authorized person to the United States through the Army Post Office
or other official channels of the United States armed services or carried into the United States by a
member of the armed forces of the United States or other authorized person;
(c) The importation of any personal check drawn by a member of the armed forces of the United
States or other authorized person against an account within the United States in favor of a payee
within the United States and sent to the United Sates through the Army Post Office or other official
channels of the United States armed services;
(d) The negotiation, collection or payment of, or any other dealings in or with respect to, any item
authorized to be imported by paragraphs 1 (b) and 1 (c) above.

(2) Transactions n ot authorized. This general license shall not be deemed to authorize any trans
action (i) by, or on behalf of, or pursuant to the direction of, a national of a blocked country (other than
an authorized person), or (ii) involving property in which a national of a blocked country (other than an
authorized person) has, at any time on or since the effective date of the Order, had any interest.

(3)
Definitions. As used in this general license, the term “authorized person” shall mean any indi
vidual who is with the armed forces of the United States in the course of his service with such forces or
who is accompanying such armed forces in the course of his employment by the Government of the United
States or any organization acting on its behalf.
[Issued August 25. 1943 (8 F. R . 117 8 4 ).]

Attention is directed to General R u ling No. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enem y national as therein defined.
Attention is also directed to General R u ling No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

EXPORTATION OF POWERS OF ATTORNEY OR INSTRUCTIONS RELATING TO
CERTAIN TYPES OF TRANSACTIONS
General License No. 89.
(1) E xportation o f pow ers o f attorney or instructions relating to certain types o f transactions au
thorized. A general license is hereby granted authorizing the exportation to any foreign country of powers

of attorney or other instruments executed or issued by any person within the United States who is not a
national of a blocked country which are limited to authorizations or instructions to effect transactions
incident to the following:
(a) The representation of the interest of such person in a decedent’s estate which is being adminis
tered in any blocked country and the collection of the distributive share of such person in such estate;
(b) The maintenance, preservation, supervision or management of any real estate or tangible
personal property located in any blocked country in which such person has an interest; and
(c) The conveyance, transfer, release, sale or other disposition of any property specified in (a) or
(b) above, provided that if such property is located within any country not included in the United
Nations, the value thereof does not exceed the sum of $5,000 or its equivalent in foreign currency.
(2) C onditions. This general license shall be subject to the following conditions:
(a) No instrument may be exported under this general license unless it contains an express stipu
lation that the person authorized to act thereunder is not empowered to engage in any transactions
which involve, directly or indirectly, any trade or communication with an enemy national as defined in
General Ruling No. 11, other than transactions which are exempted from the provisions of such general
ruling; and
(b) No instrument which authorizes the conveyance, transfer, release, sale or other disposition of
any property located within a country not included in the United Nations may be exported under this
general license unless it contains an express stipulation that such authority may not be exercised if the
value of such property exceeds the sum of $5,000 or the equivalent thereof in foreign currency.
(3) Definition. As used herein, the term “ tangible personal property” shall not include cash, bullion,
deposits, credits, securities, patents, or copyrights.
[Issued March 17, 1945 (10 F. R . 2 9 6 2 ). Set Press Release N o . 71.]

Attention is directed to General R u lin g N o. 11, w hich imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com munication with an
enemy national as therein defined.
Attention is also directed to General R u lin g N o. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN TRADE TRANSACTIONS WITH FRANCE AUTHORIZED
General License No. 90.
(1) T rade transactions with France authorized. A general license is hereby granted authorizing all
transactions ordinarily incident to the importing and exporting of goods, wares and merchandise between
the United States and France or between any member of the generally licensed trade area and France,
provided that:
(a) Payment for any goods, wares or merchandise exported from France shall be made only
(i) by deposit of the dollar amount thereof with a banking institution in the United States
for credit to a blocked account in the name of the consignor or a banking institution in France; or
(ii) by the acquisition of French franc exchange from a person in the United States having
a license specifically authorizing the sale of such exchange;
(b) Except as authorized by paragraphs (2) or (4) of this general license, no payment shall be
made from any account in which any national of a blocked country who is not within the generally
licensed trade area has any interest.

(2) Trade transactions with France by blocked business enterprises in the U nited States authorized.
Subjcct to all other terms and conditions o f this general license, any national o f a blocked country doing
business in the United States pursuant to license is hereby authorized, while so licensed, to engage in any
transaction referred to in paragraph (1) hereof to the same extent as such national is licensed to engage
in trade transactions with persons in the generally licensed trade area.
(3) C ollection o f certain other financial instruments fo r French accounts authorized. T h is general
license also authorizes the collection and payment o f the follow ing financial instruments:
(a) T raveler’s checks;
(b) Drafts or bills o f exchange drawn under traveler’s letters o f credit issued by banking institu
tions in the U nited States; and
(c) Checks, drafts, bills o f exchange or warrants drawn on the Secretary of State o f the United
States, the Secretary o f the Navy of the United States, or the Treasurer o f the U nited States;
provided that the proceeds are credited to a blocked account in a domestic bank in the name of a banking
institution in France which has forwarded such instruments for collection.
(4) Payments and withdrawals from certain balances in French blocked accounts authorized. This
general license also authorizes payments in any amount:
(a) From any blocked account in a domestic bank in the name o f a banking institution in France
to a person in the U nited States;
(b) From any blocked account in a domestic bank in the name o f a banking institution in France
to a person in the generally licensed trade area, when such payments are incident to the im porting
and exporting o f goods, wares and merchandise between France and the generally licensed trade area;
(c) From any blocked account in a domestic bank in the name o f a banking institution in France
to any other such account; and
(d) From any blocked account in the United States in the name o f a person in France to any
account in the U nited States in the name of, or in which the beneficial interest is held by, the Bank
o f France or any agency o f the Government o f France;
provided that such payments are made only from balances in such accounts which have accrued on or since
N ovem ber 4, 1944 pursuant to (i) this general license, (ii) any license authorizing remittances to France,
or (iii) any license authorizing transfers from any account in the name of, or in which the beneficial
interest is held by, the Bank o f France or any agency o f the Government o f France.
(5) Certain transactions n ot authorized. This general license shall not be deemed to authorize:
(a) A ny transaction which is by, on behalf of, or pursuant to the direction o f (i) any person
whose name appears on T h e Proclaimed List of Certain Blocked Nationals, or (ii) any blocked country
or national thereof not within France or the generally licensed trade area; or
(b) A ny transaction which involves property in which (i) any person whose name appears on T h e
Proclaim ed List o f Certain Blocked Nationals, or (ii) any blocked country or national thereof not
within France or the generally licensed trade area has at any time on or since the effective date of the
Order had any interest.
(6) Definitions. As used in this general license:
(a) T h e term “ France” shall include France and any colony or other territory subject to the
jurisdiction o f France.
(b) T h e terms “ generally licensed trade area” and “ m em ber” o f the generally licensed trade area
shall have the meaning prescribed in General License N o. 53, as amended.
[Issued April 14, 1943 (10 F. R. 4 0 6 2 ). See Press Release N o . 68.]

Attention is directed to General R u ling N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication with an
enemy national as therein defined.
Attention is also directed to General R u lin g No. 11A which imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

CERTAIN TRADE TRANSACTIONS WITH BELGIUM AUTHORIZED
General License No. 91.
(1)
T rade transactions with Belgium authorized. A general license is hereby granted authorizing all
transactions ordinarily incident to the im porting and exporting of goods, wares and merchandise between
the U nited States and Be'lgium or between any member o f the generally licensed trade area and Belgium,

provided that:
(a) Payment for any goods, wares or merchandise exported from Belgium shall be made only
(i) by deposit o f the dollar amount thereof with a banking institution in the United States
for credit to a blocked account in the name o f the consignor or a banking institution in Belgium; or

(ii) by the acquisition o f Belgian franc exchange from a person in the U nited States having
a license specifically authorizing the sale o f such exchange;
(b)
Except as authorized by paragraphs (2) or (4) o f this general license, n o payment shall be
made from any account in which any national o f a blocked country w ho is not within the generally
licensed trade area has any interest.
(2) T rade transactions with B elgium by blocked business enterprises in the U nited States authorized.
Subject to all other terms and conditions o f this general license, any national o f a blocked country doing
business in the U nited States pursuant to license is hereby authorized, while so licensed, to engage in any
transaction referred to in paragraph (1) hereof to the same extent as such national is licensed to engage
in trade transactions with persons in the generally licensed trade area.
(3) C ollection o f certain oth er financial instruments fo r Belgian accounts authorized. T h is general
license also authorizes the collection and payment o f the follow ing financial instruments:
(a) Traveler’s checks;
(b) Drafts or bills o f exchange drawn under traveler’s letters o f credit issued by banking institu
tions in the U nited States; and
(c) Checks, drafts, bills of exchange or warrants drawn on the Secretary of State o f the U nited
States, the Secretary of the Navy o f the U nited States, or the Treasurer o f the U nited States;

provided that the proceeds are credited to a blocked account in a dom estic bank in the name o f a banking
institution in Belgium which has forwarded such instruments for collection.
(4) Paym ents and withdrawals from certain balances in Belgian blocked accounts authorized. T his
general license also authorizes payments in any amount:
(a) From any blocked account in a domestic bank in the name o f a banking institution in Belgium
to a person in the U nited States;
(b) From any blocked account in a domestic bank in the name o f a banking institution in Belgium
to a person in the generally licensed trade area, when such payments are incident to the im porting
and exporting o f goods, wares and merchandise between Belgium and the generally licensed trade area;
(c) From any blocked account in a domestic bank in the name o f a banking institution in Belgium
to any other such account; and
(d) From any blocked account in the U nited States in the name of a person in Belgium to any
account in the U nited States in the name of, or in which the beneficial interest is held by, the Banque
N ationale de Belgique, the Banque du C on go Beige, or any agency o f the Governm ent o f Belgium ;

provided that such payments are made only from balances in such accounts which have accrued on or since
February 2, 1945 pursuant to (i) this general license, (ii) any license authorizing remittances to Belgium, or
(iii) any license authorizing transfers from any account in the name of, or in which the beneficial interest
is held by, the Banque N ationale de Belgique, the Banque du C on go Beige, or any agency o f the Govern
ment o f Belgium.
(5)

Certain transactions n ot authorized. T h is general license shall not be deemed to authorize:

(a) Any transaction which is by, on behalf of, or pursuant to the direction o f (i) any person whose
name appears on T h e Proclaimed List o f Certain Blocked Nationals, or (ii) any blocked country or
national thereof not wthin Belgium or the generally licensed trade area; or
(b) Any transaction which involves property in which (i) any person whose name appears on
T h e Proclaimed List o f Certain Blocked Nationals, or (ii) any blocked country or national thereof
not within Belgium or the generally licensed trade area has at any time on or since the effective date
o f the Order had any interest.
(6) Definitions. As used in this general license:
(a) T h e term “ Belgium ” shall include Belgium and any colony or other territory subject to the
jurisdiction o f Belgium.
(b) T h e terms “ generally licensed trade area” and “ m em ber” o f the generally licensed trade area
shall have the meaning prescribed in General License N o. 53, as amended.
[Issued May 15, 1945 (10 F. R . 5 5 7 }). See Press Release N o . 69.]

Attention is directed to General R u lin g N o. 11, which imposes an additional restriction on every license and other author
ization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or com m unication w ith an
enemy national as therein defined.
Attention is also directed to General R u ling N o. 11A w hich imposes an additional restriction on every license and other
authorization by lim iting withdrawals from certain blocked German and Japanese accounts.

PUBLIC CIRCULARS
ISSU E D U N D E R E X E C U T IV E O R D E R N O . 8389, AS A M E N D E D , E X E C U T IV E O R D E R N O . 9193, SE C T IO N S
3(a) A N D 5(b) O F T H E T R A D IN G W I T H T H E E N E M Y A C T , AS A M E N D E D B Y T H E F IR S T W A R P O W E R S
A C T , 1941, R E L A T IN G T O F O R E IG N F U N D S C O N T R O L .

EXTENSION OF TIME FOR FILING REPORTS O N FORM TFR-300
Public Circular No. I, as Amended.
Reference is made to Section 130.4 o f the Regulations providing that reports on Form T F R -3 0 0 shall
be filed on or before July 14, 1941.
T h e time within which such reports on Form T F R -3 0 0 shall be filed is hereby extended to October
31, 1941.
[Issued July 9, 1941; amended August 16, 1941; September 18, 1941 (6 F. R. 3371, 4196, 481 8 ). See Press Releases N os. 4, 10 and 12.}

CERTAIN DRAFTS OR OTHER ORDERS FOR PAYMENT NOT TO BE PRESENTED,
ACCEPTED, OR PAID EXCEPT PURSUANT TO LICENSE
Public Circular No. 2.
T h e follow ing are replies which the Treasury Department has made to inquiries:
(1) Drafts or other orders for payment drawn under irrevocable letters o f credit issued in favor or on
behalf o f any blocked country or national thereof may not be presented, accepted or paid except pursuant
to license.
(2) Drafts or other orders for payment, in w hich any blocked country or national thereof has on or since
the effective date o f the Order had any interest, drawn under any irrevocable letter o f credit may not be
presented, accepted or paid except pursuant to license.
(3) Documentary drafts in which any blocked country or national thereof has on or since the effective
date o f the Order had any interest may not be presented, accepted or paid except pursuant to license.
(4) General License N o. 1 does not authorize any such payment into blocked accounts.
[Issued August 1. 1941 (6 F. R. 3 8 8 8 ).]

TRANSACTIONS AUTHORIZED UNDER GENERAL LICENSES NOS. 15, 53, AND 58 IRRESPECTIVE
OF CONTROL OF VESSEL INVOLVED AND PREPAYMENT OF FREIGHT
Public Circular No. 3.
T h e Treasury Department has made the follow in g reply to inquiries relative to General Licenses
Nos. 15, 53, and 58:
Transactions may be engaged in pursuant to the terms and conditions o f such general licenses,
irrespective o f the ownership, control or docum entation of the vessel on which the goods, wares and
merchandise are shipped, and irrespective o f whether or not freight on such goods, wares and mer
chandise has been prepaid.
[Issued August 11, 1941 (6 F. R. 4 0 0 4 ).!

INSTRUCTIONS FOR PREPARATION OF REPORTS ON FORM TFR-300 OF ALL FOREIGN-OWNED
PROPERTY SUBJECT TO THE JURISDICTION OF THE UNITED STATES
Public Circular No. 4.
[Issued August 16, 1941 (6 F. R. 4 19 6 ).
Press Release N o. 10.]

Public Circular N o. 4 is printed as a separate pamphlet and therefore is not reproduced herein.

INSTRUCTIONS FOR PREPARATION OF REPORTS O N FORM TFR-300, SERIES J,
BY CERTAIN NATIONALS OF JAPAN
Public Circular No. 4A, Revoked.
[Issued January 16, 1942; revoked April 14, 1945 (7 F.R. 383, 10 F. R . 4 0 6 3 ).]

INSTRUCTIONS FOR PREPARATION OF REPORTS ON FORM TFR-300, SERIES K, OF PROPERTY IN
W H IC H NATIONALS OF THE PHILIPPINE ISLANDS HAD AHY INTEREST
Public Circular No. 4B, Revoked.
[Issued February 7, 1942; revoked April 14, 1945 (7 F. R . 847, 10 F. R. 4 06 3 ). See Press Release f j c . 28.|

See

INSTRUCTIONS FOR PREPARATION OF REPORTS O N FORM TFR-300, SERIES L
Public Circular No. 4C.
[Issued September 14, 1942; amended September 18, 1942; April 14, 1945 (7 F. R. 7274, 7428, 10 F. R. 4 0 6 3 ).
Public G rcular N o. 4C is printed as a separate pamphlet and is therefore not reproduced herein.]

See Press Release N o. 41.

JURISDICTION OF TREASURY DEPARTMENT AN D OFFICE OF THE ALIEN PROPERTY CUSTODIAN WITH
RESPECT TO CERTAIN TRANSACTIONS INVOLVING PATENTS, TRADEMARKS, AND COPYRIGHTS
Public Circular No. 5, as Amended.
(1) Reference is made to General Licenses Nos. 72 and 72A issued by the Treasury Department, and to
General Orders Nos. 11, 12 and 13, and the Regulations issued thereunder, issued by the A lien Property
Custodian.
(2) Pursuant to section 2 (d) o f Executive Order No. 9095, as amended July 6, 1942, the A lien Property
Custodian has assumed full power and authority over the filing and prosecution of applications for United
States patents, trademarks and copyrights, and transfers and other dealings with respect thereto, in which a
blocked country or national thereof has, on or since the effective date o f Executive Order N o. 8389, as
amended, had an interest. T h is action was taken through the issuance by the A lien Property Cvistodian
o f General Orders Nos. 11, 12 and IS and Regulations thereunder. A t the same time, the Treasury Depart
ment amended General License N o. 72 so that, to the extent that the A lien Property Custodian has
assumed jurisdiction, the Treasury Department relinquishes it under Executive Order N o. 8389, as
amended.
(3) In addition, General License N o. 72 has been amended to authorize the payment of fees to the
U nited States Governm ent and, with limitations, the customary fees and charges o f attorneys in the U nited
States arising in connection with the filing and prosecution in the U nited States of patent, trademarks and
copyright applications. Payment is not permitted from an account in which an enemy national has an
interest. These provisions w ill facilitate the administration o f General Orders Nos. II, 12 and 13 and
Regulations issued thereunder by the A lien Property Custodian.
(4) It is to be noted, in connection with General License N o. 72, that transactions relating to United
States patents, trademarks and copyrights which involve com m unication from an enemy national have been
authorized notwithstanding General R u lin g N o. 11. This action was taken by the Treasury Department at
the request o f the A lien Property Custodian.
(5) Jurisdiction over patents, trademarks or copyrights in which a blocked interest exists and which
are issued by any foreign country remains in the Treasury Department and dealings therein are subject to
Executive Order N o. 8389, as amended.
(6) General License N o. 72A authorizes transactions relating to the filing and prosecution o f applica
tions for patents, trademarks or copyrights in any foreign country, the receipt o f documents issued in con
nection therewith, the payment o f fees currently due to the government o f any foreign country not within
enemy territory, and, within limitations, the payment o f reasonable and customary attorneys’ fees, in which
a blocked country or national, except an enemy national, has an interest.
(7) General License N o. 72A does not authorize any transaction involving trade or com munication
with an enemy national and the Treasury Department will continue to observe its general policy o f
denying applications to effect such transactions.
(8) Public Circular N o. 5A is hereby revoked.
[Issued September 3, 1941; amended November 17, 1942 (6 F. R. 4587, 7 F. R. 948 1 ). See Public Circular N os. 4 and 5B.]

DENIAL OF APPLICATIONS FOR LICENSES TO EFFECT CERTAIN PATENT AN D COPYRIGHT
TRANSACTIONS, W H IC H INVOLVE TRADE OR CO M M U N IC A TIO N S WITH ENEMY NATIONAL
Public Circular No. 5A, Revoked.
[Issued May 8, 1942; revoked November 17, 1942 (7 F. R. J471, 9 48 1 ). See Public Circular N o . } , as amended.]

SPECIAL ACCOUNTS ESTABLISHED UNDER REGULATIONS ISSUED BY
THE ALIEN PROPERTY CUSTODIAN
Public Circular No. 5B.
1
Reference is made to the provisions o f the Regulations issued by the A lien Property Custodian under
General Orders Nos. 11 and 13, relating to the establishment o f special accounts and the prohibition o f
transfers o f interests in such special accounts.

2
Any special account established pursuant to such Regulations shall hereafter be deemed not to be
a blocked account as that term is defined in General R u lin g N o. 4, and payments, transfers, or withdrawals
from any such special account upon the approval or other authorization o f the A lien Property Custodian
may be effected in the same manner and to the same extent as payments, transfers, or withdrawals may be
effected from an account in which n o national o f any blocked country has an interest. Payments or transfers
o f credit may be made to any such special account pursuant to such Regulations without a Treasury license
to the same extent that payments and transfers thereto could be made under General License No. 1 if such
special account were a blocked account.
[Issued September 3, 1943 (8 F. R. 12288).]

ATTACHMENT OF FORM TFEL-2 TO OBLIGATIONS ISSUED BY GOVERNMENTS
AN D CORPORATIONS OF BLOCKED COUNTRIES
Public Circular No. 6.
(1) Any licenses which may be issued permitting the redem ption or purchase for sinking fund purposes
or other purchase for blocked accounts o f bonds, debentures or similar obligations issued by governments of
blocked countries, including political subdivisions, or by corporations organized under the laws o f any
blocked country, w ill be so lim ited as to allow such redem ption or purchase only o f such securities to which
Treasury Department Form T F E L -2 has been previously attached or affixed by, or under the direction of,
the Treasury Department.
(2) Applications for the attachment o f Form T F E L -2 should be filed on Form T F E -2 A with the
Federal Reserve Bank for the district or with the G overnor or H igh Commissioner o f the territory or
possession o f the U nited States in which the applicant resides or has his principal office or agency. Copies
o f Form T F E -2 A may be obtained from any such Federal Reserve Bank or G overnor or H igh Commissioner
or from the Treasury Department, Washington, D. C.
(3) Attention is called to the fact that persons acquiring any such securities on or after September 15,
1941, to which Form T F E L -2 has not been attached, are required in Form T F E -2 A to furnish m uch more
com plete and detailed inform ation concerning the past ownership o f the securities than is required of
persons w ho have ow ned such securities continuously since prior to September 15, 1941. Whereas the
form er are required on Form T F E -2 A to trace the ownership o f such securities through A pril 8, 1940, in
order to obtain the attachment o f Form T F E L -2, Form T F E -2 A only requires the latter to trace the owner
ship o f such securities from the person from whom they have acquired them.
(4) A n y person acquiring any such securities under a contract made prior to September 15, 1941
even though delivery o f the securities may have been effected on September 15, 1941, or within a reason
able time thereafter, need trace ownership only from the person from whom the securities were acquired,
provided the Treasury Department is furnished with satisfactory evidence that the contract was made in
the normal course o f business through or with a domestic bank or broker or dealer.
tissued September 13, 1941 (6 F. R. 4 7 3 0 ). See Press Release N o . 12.]

REMITTANCES TO INDIVIDUALS IN ANY PART OF CHINA, EXCEPT M ANCHURIA, UNDER GENERAL
LICENSES NOS. 32 AND 33 TO BE EFFECTED AS PRESCRIBED IN PARAGRAPH (I) (c) OF GENERAL
LICENSE NO. 75.
Public Circular No. 7.
General Licenses Nos. 32 and 33 shall not be deemed to authorize remittances to any individual in any
part o f China, except Manchuria, unless such remittances are effected in the manner prescribed in paragraph
(1) (c) o f General License N o. 75, namely, by a domestic bank paying the dollar am ount o f the remittance to
a designated agent o f the Central Bank o f China for the account o f an appointed bank.
[Issued November 12» 1941 (6 F. R . 5 8 0 5 ).]

REMITTANCES TO M A C A O
Public Circular No. 7A.
General Licenses Nos. 32 and 33 shall not be deemed to authorize remittances to any individual in
Macao.
N o remittance shall be made under General License N o. 70 to any person in M acao unless the domestic
bank effecting such remittance is fully satisfied that the ultimate beneficiary is not a national o f any blocked
country other than Portugal.
[Issued November 6, 1942 (7 F. R. 9 1 1 9 ).]

R E M IT T A N C ES TO SW IT Z E R L A N D U N D ER G E N E R A L L IC E N SE N O . 32

Public Circular No. 7B.
(1) Reference is made to General License N o. 32 relating to remittances for necessary living expenses.
(2) N otwithstanding the provisions o f paragraph (1) (c) o f General License N o. 32, any remittance
pursuant to such general license to a payee within Switzerland may be effected only by the payment o f the
dollar am ount o f the remittance to a domestic bank for credit to a blocked account in the name o f a banking
institution within Switzerland.
[Issued April 22, 1944 (9 F. R . 4 3 8 4 ).]

REVOCATION OF JAPANESE LICENSES AND AUTHORIZATIONS
Public Circular No. 8.
A ll general licenses, specific licenses, and authorizations o f whatsoever character are hereby revoked
insofar as they authorize, directly or indirectly, any transaction by, o n behalf of, or for the benefit of,
Japan, or any national thereof.
[Issued December 7, 1941 (6 F. R. 6 30 4 ). St* Press Release N o . 17. See Public Circular N o . 8A."}

CERTAIN GENERAL LICENSES, W H IC H WERE REVOKED BY PUBLIC CIRCULAR
NO. 8, REINSTATED
Public Circular No. 8A.
A ll general licenses other than those listed below are hereby reinstated to the extent that they were
revoked by P ublic Circular N o. 8.
General
General
General
General
General
General
General
General
General
General
General

License
License
License
License
License
License
License
License
License
License
License

N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.
N o.

56
58
59
60
61
63
65
66
68
69
75

[Issued December 20, 1941 (6 F. R. 6 6 7 9 ). See Press Release N o. 2 0.]

REVOCATION OF LICENSES AND AUTHORIZATIONS REGARDING CERTAIN OBLIGATIONS
OF GOVERNMENT OF DENMARK AND CERTAIN OTHER OBLIGORS
Public Circular No. 9.
A ll general licenses, specific licenses, and authorizations o f whatsoever character are hereby revoked
insofar as they authorize, directly or indirectly, any o f the follow ing with respect to any bond, debenture or
similar obligation, including coupons (all o f which are hereinafter referred to as securities) issued by the
Governm ent o f Denmark, or any political subdivision, agency or instrumentality thereof:
(a) the removal o f such securities from blocked accounts o f Denmark, or any person within Den
mark, or from any General R u lin g N o. 6 account; or
(b) the presentation, by or on behalf o f or for the benefit o f Denmark, or any person within
Denmark, or any General R ulin g N o. 6 account, of such securities for payment or redem ption; or
(c) the sale or other disposition o f such securities by or on behalf o f or for the benefit of Denmark,
or any person within Denmark, or any General R uling N o. 6 account.
Provided, T h a t this Public Circular shall not be deemed to prevent the com pletion on or prior to Decem
ber 27, 1941, o f purchases and sales o f such securities (other than detached coupons) which were made
pursuant to the Order on or before December 24, 1941.
[Issued December 24, 1941 (6 F. R. 6 764). See Press Release N o . 2 1.]

REVOCATION AN D MODIFICATION OF CERTAIN LICENSES INVOLVING H O N G
KO N G AND GENERALLY LICENSED TRADE AREA
Public Circular No. 10.
1. General License N o. 57 is hereby revoked.
2. T h e offices within H on g K ong and occupied China o f banks nam ed in Schedule A o f General
License N o. 58, shall, as o f the date hereof, cease to be appointed banks, and, as o f the date hereof, such

offices shall also cease to be generally licensed nationals within the m eaning o f General Licenses Nos. 59,
60, or 61, and such general licenses are to such extent hereby revoked.
3. General License N o. 13 is hereby amended in the follow in g respects:
(a) T h e w ord “ H on g K ong” is deleted from subdivision (a) of paragraph (1) thereof; and
(b) T h e words “ H on g K ong” and “ Penang” are deleted from subdivision (b) o f paragraph (1)
thereof.
4. Subparagraph (a) o f paragraph (3) o f General License N o. 53 is hereby amended in the follow
ing respects:
(1) A sem icolon is substituted for the period at the end o f item (x) thereof; and
(2) T h e follow in g proviso to all o f the provisions o f subparagraph (a) is added at the end
thereof:
“ Provided, however, that the term ‘generally licensed trade area’ shall not include any
territory which is controlled or occupied by the military, naval or police forces o r other
authority o f Japan, Germany, or Italy, or allies thereof.”
[Issued December 26, 1941 (6 F. R. 6 7 9 2 ). The text o f each general license amended by Public Circular N o. 10, as set forth in this publication,
has been revised to give effect to such amendments. See Press Release N o . 23.]

FREEZING OF PHILIPPINE ASSETS AND REPORTS O N FORM TFR-300 REGARDING SUCH ASSETS.
REVOCATION OF GENERAL LICENSES NOS. 63 AN D 65 AND AMENDMENT OF GENERAL LI
CENSES NOS. 13 A N D 75.
Public Circular No. II, Revoked.
Public Circular N o. 11, issued January 5, 1942 (7 F. R . 147), was revoked May 25, 1945 (10 F. R . 6171)
in view o f the issuance o f General R u lin g N o. 18. T h e revocation o f the Circular d id not m odify or
reinstate any general licenses, specific licenses or other authorizations which were amended or revoked by
Public Circular N o. 11.

INCLUSION IN "PROCLAIMED LIST" OF NAMES OF PERSONS WITHIN NEUTRAL
EUROPEAN COUNTRIES
Public Circular No. 12.
Supplement N o. 7, January 14, 1942, to “ T h e Proclaim ed List o f Certain Blocked Nationals” pro
mulgated pursuant to the Proclam ation o f July 17, 1941, contains the names o f persons within Portugal,
Spain, Sweden, Switzerland and Turkey.
A ttention is directed to the fact that these persons, as well as all other persons whose names appear on
“ T h e Proclaim ed List o f Certain Blocked Nationals,” shall be treated for all purposes as though they were
nationals o f Germany or Italy. Accordingly, General Licenses Nos. 49, 50, 52, and 70, relating respectively
to Sweden, Switzerland, Spain and Portugal, as well as all other licenses which do not authorize transactions
by, on behalf of, or for the benefit o f nationals o f Germany or Italy, d o not authorize transactions by, on
behalf of, o r for the benefit o f persons whose names appear on such list. T h e mere fact that the name o f a
particular individual or concern is not contained on this list shall not be construed to mean that such indi
vidual or concern is not a national o f Germany or Italy or to authorize transactions in which any national o f
Germany or Italy may have an interest.
[Issued January 14, 1942 (7 F. R. 3 3 4 ).]

AMENDMENT OF GENERAL LICENSES NOS. 13, 14, 15, 19, 21 AND 27 BY DELETING
CERTAIN REPORTING REQUIREMENTS
Public Circular No. 13.
General Licenses Nos. 13, 14, 15, 19, 21 and 27 are hereby amended by deleting the final paragraph o f
each such general license.
[Issued January 20, 1942 (7 F. R. 4 6 8 ). The text of each general license amended by Public Circular N o . 13, as set forth in this publication,
has been revised to give effect to such amendments.]

LIMITATIONS ON ACQUISITIONS OF SECURITIES FOR BLOCKED ACCOU NTS
Public Circular No. 14.
(1)
A cquisitions o f Securities N o t Authorized, in Certain Cases. N o license or other authorization now
outstanding or hereafter issued, unless expressly referring to this public circular, shall be deemed to
authorize any blocked country or any national thereof to acquire, directly or indirectly, securities o f any
one issue o f a corporation if the securities so acquired together with the aggregate o f all other securities held,
directly or indirectly, by such blocked country or national, constitute more than three percent o f the out

standing securities of that issue. Banking institutions shall not effect any such acquisitions if they have
reasonable cause to believe that the terms hereof are being violated.
(2) R ep orts R eq u ired on Form T F R -1 4 . Beginning with the quarter ending June 30, 1944, banking
institutions shall file quarterly reports on Form TFR-14 with respect to securities of domestic corporations
held for any blocked country or national thereof which aggregate, at the end of the quarter, one percent or
more of the outstanding securities of the issue of which they form a part. A separate report for each blocked
country or national shall be filed in duplicate with the appropriate Federal Reserve Bank on or before the
end of the month following the calendar quarter. This reporting requirement shall be deemed to be in lieu
of that required under any license now outstanding or hereafter issued so far as such license requires the
filing of reports with respect to securities held for any blocked account or to the acquisition or sale of
securities for any blocked account, unless such license specifically requires reports notwithstanding this
circular.
(3) Sub-account R egarded as Part o f Entire A ccoun t. For the purposes of this circular, securities in
a sub-account shall be regarded as held for the national in whose name the entire account is maintained.
[Issued February 3, 1942; amended April

26,

1944 (7 F. R. 698, 9 F. R . 4 4 6 2 ). See Public Interpretation N o . 1 2 ; Press Release N o . 27.]

AMENDMENT OF GENERAL LICENSES NOS. 49, 50, 52, AN D 70, REQUIRING
REPORTS O N FORMS TFR-149 AND TFER-I
Public Circular No. 15.
General Licenses Nos. 49, 50, 52, and 70 are amended by deleting the text of the paragraph numbered
“(4)” in General License No. 49 and the texts of the paragraphs numbered “ (5)” in General Licenses Nos.
50, 52, and 70 and by substituting the following in each of such paragraphs for the matter so deleted:
“A report on Form TFR-149 shall be filed promptly in duplicate with the appropriate Federal Reserve
Bank by any banking institution within the United States:
(a) through which any remittance in excess of $5,000 originates; or
(b) which issues, confirms, or advises any letter of credit involving an amount in excess of
$5,000; or
(c) which debits any blocked account in an amount in excess of $5,000 for any single item under
the authority of this general license.
"Banking institutions within the United States shall also file monthly reports on Form TFER-1 with the
appropriate Federal Reserve Bank indicating the total of all debits and, separately, the total of all credits
effected pursuant to the provisions of this general license.”
[Issued February 18, 1942 (7 F. R . 1126). See Public Interpretation N o. 3. T he text o f each general license amended by Public Circular .N o . 15,
as set forth in this publication, has been revised to give effect to such amendments.]

EXTENSION OF EXECUTIVE ORDER TO BRITISH MALAYA
Public Circular No. 16.
(1) Attention is directed to the fact that pursuant to the Order the provisions thereof have been auto
matically extended to all of British Malaya to the same extent as the provisions of the Order apply to any
other blocked country.
(2) For the purpose of administering the Order and complying with the provisions thereof, British
Malaya shall be deemed to be a foreign country separately designated in the Order and specifically named
in section 3 thereof. The definition of the term “national” as applied to British Malaya shall be that specified
in paragraph E of section 5 of the Order.
(3) General License No. 13 is hereby amended by the deletion of the word “Singapore” from sub
divisions (a) and (b) of paragraph (1) thereof.
(4) Attention is directed to the fact that, by reason of temporary control and occupation by the
military, naval, and police forces and other authority of Japan, British Malaya is no longer included within
the generally licensed trade area as defined in General License No. 53.
(5) No transaction shall be deemed to require a license solely because it involves property in which
a blocked country or national thereof had an interest which was extinguished prior to the date of the exten
sion of the Order to such country.
(6) As used herein, the term "British Malaya” shall be deemed to include the Straits Settlements and
the Malay States, both federated and unfederated.
[Issued February 18, 1942 (7 F. R. 1126). The text o f each general license amended by Public Circular N o . 16, as set forth in this publication,
has been revised to give effect to such amendments.]

GENERAL LICENSES NOS. 13, 15, 20. 21 AND 53 NO LONGER APPLICABLE
TO NETHERLANDS EAST INDIES
Public Circular No. 17.
(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 that, by reason of temporary control and occupation by the mili
tary, 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.
[Issued March 13. 1942 f7 F. R. 2 0 8 3 ). See Press Release N o . 31. The text of each general license referred to in Public Circular N o. 17, as
set forth in this publication, has been revised to give effect to the amendments set forth in Public Circular N o . 17.]

STANDARD OF CONDUCT W H IC H UNITED STATES CO NCERNS DO ING BUSINESS WITHIN LATIN
AM ERICA ARE REQUIRED TO FOLLOW WITH RESPECT TO TRANSACTIONS INVOLVING ENEMY
NATIONALS.
Public Circular No. 18.
(1) Reference is made to General Ruling No. 11, relating to transactions involving trade or com
munication with an enemy national. Inquiry has been made as to the standard of conduct which United
States concerns doing business within Latin America are required to follow with respect to transactions
involving enemy nationals.
(2) Any person within the Western Hemisphere who is subject to the jurisdiction of the United States
shall not engage in any financial, business, trade or other commercial transaction which is directly or
indirectly with, by, on behalf of, or for the benefit of an enemy national, except as specifically authorized
by the Secretary of the Treasury, by means of regulations, rulings, instructions, licenses or otherwise.
(3) As used herein, the term “person subject to the jurisdiction of the United States” shall include:
(a) any citizen of the United States whether within the United States or within any foreign
country;
(b) any person within the United States;
(c) any partnership, association, corporation, or other organization
(i) wh'ich is organized under the laws of the United States; or
(ii) which has its principal place of business within the United States; or
(iii) which is owned or controlled by, directly or indirectly, one or more persons subject to
the jurisdiction of the United States as herein defined; and
(d) any agent, subsidiary, affiliate or other person owned or controlled, directly or indirectly, by
any person subject to the jurisdiction of the United States as herein defined.
(4) In appropriate cases, United States diplomatic and consular officers in the other American Repub
lics should be consulted with respect to the matters referred to herein and applications for licenses to engage
in transactions referred to herein may be filed with such officers in lieu of filing such applications in the
United States. The Treasury Department has delegated authority to such officers through the State Depart
ment, and accordingly such officers are in a position to take action on applications in certain cases without
first referring such applications to the Treasury Department.
[Issued March 30, 1942 (7 F. R. 2 5 0 3 ). See General Ruling N o . 1 1 ; Press Release N o , 33.J

STANDARD OF CONDUCT W H IC H UNITED STATES CO NCERNS LOCATED WITHIN LATIN AM ERICA
ARE REQUIRED TO FOLLOW WITH RESPECT TO TRANSACTIONS INVOLVING CERTAIN NATIONALS
OF BLOCKED COUNTRIES.
Public Circular No. I8A.
(1)
Subject and Scope. Public Circular No. 18 prescribes the standard of conduct to be observed with
respect to transactions involving enemy nationals. This public circular supplements Public Circular No. 18
and prescribes the standard of conduct to be observed by United States concerns located within Latin
America with respect to transactions involving other nationals of blocked countries. It does not purport
to prescribe standards for concerns n ot located within Latin America.

(2) A uthorized Transactions by U nited States Concerns L ocated W ith in Latin Am erica. Subject to
the exceptions noted in paragraph (3), United States concerns located within Latin America are authorized
to engage in transactions involving blocked nationals located within the generally licensed trade area, or
within Spain, Portugal, Switzerland or Sweden, without further license. Such United States concerns will,
of course, be expected to comply with all local controls in engaging in such transactions.
(3) Transactions by U nited States Concerns L ocated W ith in L atin A m erica which are n ot Authorized.
The following transactions shall not be engaged in by any United States concern located within Latin
America except pursuant to general or specific licenses issued by the Treasury Department.
(a) Any transaction involving a dollar account of a blocked national located outside the generally
licensed trade area, if such account is held on the books of a United States concern located within
Latin America which is a bank or other financial institution;
(b) Any transaction involving an enemy national (see Public Circular No. 18).
In addition to the foregoing, the Treasury Department or any United States Mission in the other American
Republics at any time may stipulate that any particular transaction or class of transactions requires a specific
license. Any such stipulation shall be binding upon all persons having notice thereof.
(4) Filing o f Applications. Applications for specific licenses to engage in any transaction may be filed
with any United States diplomatic and consular officer in the other American Republics or with a Federal
Reserve Bank in the United States.
(5) Definitions.
(a) The term “transaction involving a blocked national” shall include any transaction with, by,
on behalf of, or at the direction of a blocked country or national therof, or which involves property in
which such national or country has an interest.
(b) The term “United States concern located within Latin America” shall mean any person
subject to the jurisdiction of the United States located within Latin America, and the term “person
subject to the jurisdiction of the United States” shall have the meaning prescribed in Public Circular
No. 18.
(c) The term “generally licensed trade area” shall have the meaning prescribed in General License
No. 53.
[Issued April 13. 1943 (8 F. R. 4 8 7 7 ).]

AMENDMENTS TO GENERAL LICENSES NOS. 4, 5, 13, 20, 53, 66, AND 69; GENERAL RULING NO. II;
REVOCATION OF GENERAL LICENSES NOS. I I A AND 77
Public Circular No. 19.
(1) General License No. 4 is hereby amended by the addition of the following paragraph to the end
thereof:
“Securities issued or guaranteed by the Government of the United States or any state, territory,
district, county, municipality or other political subdivision thereof (including agencies and instrumen
talities of the foregoing) need not be sold on a national securities exchange; provided that such
securities are sold at market value and pursuant to all other terms and conditions prescribed in this
general license.”
(2) General License No. 5 is hereby amended to read as follows:
“ (1) A general license is hereby granted authorizing the payment from any blocked account to
the United States or any agency or instrumentality thereof, or to any state, territory, district, county,
municipality, or political subdivision in the United States, of customs duties, taxes, and fees payable
thereto by the owner of such blocked account.
“ (2) Banking institutions within the United States making any single payment in excess of $1,000,
pursuant to the terms of this general license, shall file promptly with the appropriate Federal Reserve
Bank a report setting forth the details of such transaction.”
(3) General License No. 20 is hereby amended by deleting the second paragraph thereof.
(4) The definition of the term "generally licensed trade area” in paragraph (3) (a) of General License
No. 53 is hereby amended in the following respects:
(a) Insert “the Faroe Islands” as a separate item between the item whose text is “the Union of
Soviet Socialist Republics” and the item whose text is “the Netherlands West Indies.”
(b) Delete “Syria and Lebanon,” and in lieu thereof, substitute “ (1) Syria and Lebanon; and
(2) the New Hebrides Islands.”
(5) General License No. 11A and General License No. 77 are hereby revoked.
(6) General Ruling No. 11 is hereby amended in the following respects:

(a) In the definition of “enemy national” in paragraph (2) (a) (i) of such general ruling, delete
the words “ (Germany, Italy, and Japan) and the Governments of Bulgaria, Hungary, and Rumania,"
and in lieu thereof, substitute the words “ (Germany, Italy, Japan, Bulgaria, Hungary, and Rumania).”
(b) In the definition of “enemy territory” in paragraph (2) (b) (i) of such general ruling, delete the
words “and Japan” and in lieu thereof substitute the words “Japan, Bulgaria, Hungary, and Rumania.”
(7) General License No. 13 is hereby amended by the deletion of the word “Rangoon” from section
(b) of paragraph (1) thereof.
(8) General License No. 66 was amended on December 7, 1941, by deleting sections (d), (e), and (f)
thereof.
(9) General License No. 69 was amended on December 7, 1941, by deleting sections (b), (c), and (d)
thereof. In view of such amendment, General License No. 69 is hereby amended to read as follows:
"A general license is hereby granted licensing as a generally licensed national the San Francisco
office of the Bank of Canton.”
[Issued September 22, 1942 (7 F. R. 7518K Set Press Release N o. 42. The text o f the General Ruling and o f each general license amended
by Public Circular N o. 19, as set forth in this publication, has been revised to give effect to such amendments.]

ADMINISTRATION OF ASSETS OF DECEDENTS' ESTATES UNDER
GENERAL LICENSE NO. 30A
Public Circular No. 20.
(1) Reference is made to General License No. 30A relative to the administration of estates of decedents.
(2) All transactions incident to the administration of a blocked estate, including the appointment
and qualification of a personal representative, the collection and liquidation of assets, the payment of claims,
and the distribution to the beneficiaries, may be effected only pursuant to license. As used herein, the term
“ blocked estate” shall have the meaning prescribed in General License No. 30A.
(3) Attention is directed to the fact that in instances where the decedent was not a national of a
blocked country, or was a United States citizen and a national of a blocked country solely by reason of
his presence in a blocked country as a result of his employment by or service with the United States Govern
ment, or whenever the gross value of the assets within the United States does not exceed $5,000, such general
license authorizes the complete administration of a blocked estate. This includes the appointment and
qualification of a personal representative, the collection and liquidation of assets, the payment of debts
and claims, and the distribution of the remaining assets to the persons entitled thereto. Property distribut
able to nationals of blocked countries must be distributed in accordance with the provisions of such general
license.
(4) In instances where the decedent was a national of a blocked country (other than a United States
citizen who was a national of a blocked country solely by reason of his presence in a blocked country as a
result of his employment by or service with the United States Government) and the gross value of the
assets situated within the United States of the estate of such decedent exceeds $5,000, such general license
permits certain limited acts of administration. These acts are confined to transactions incident to the
appointment and qualification of a personal representative, the collection and preservation of the assets,
and the payment of all costs, fees, and charges incident thereto, and the payment of funeral expenses and
expenses of last illness. All other transactions incident to the administration of such estates, including the
liquidation of assets, the payment of claims, and the distribution of any of the assets, may be effected only
pursuant to special license.
(5) Attention is directed to the fact that no national of a blocked country may, except pursuant to
special license, act as personal representative of any estate, nor may he act as attorney or attorney in fact for
or represent, directly or indirectly, any personal representative, creditor, heir, next of kin, legatee, devisee,
distributee, or beneficiary therein.
(6) In any estate in which distribution is authorized under this general license, property may be trans
ferred to the trustee of any testamentary trust or to the guardian of the estate of a minor or of an incompe
tent, provided such trustee or guardian is not a national of a blocked country. The administration of such
testamentary trust or such estate of a minor or of an incompetent shall conform to all applicable provisions
of the Order.
(7) General Licenses Nos. 30, 49, 50, 52, and 70 are amended so as to be inapplicable to the administra
tion of decedents’ estates.
(8) Application for special license authorizing any transaction, or series of transactions, in connection
with any blocked estate not authorized by General License No. 30A may be made to the appropriate
Federal Reserve Bank on license application Form TFE-1. Such application should contain a complete
statement of all relevant facts, including, as accurately as possible, an inventory of the assets, the names
and nationality of all persons who have an interest in, or have made any claim against, the estate, and
the probable method of distribution.

(9) General License No. 30A authorizes all transactions incident to the collection, conservation,
administration, liquidation, and distribution of any blocked estate engaged in since the effective date of
the Order, provided such transactions comply with the terms and conditions of such general license.
(10) Attention is directed to the fact that General License No. 30A does not affect any orders, rules or
regulations of the Alien Property Custodian relating to estates. In this connection, see General Orders 5
and 6 issued by the Alien Property Custodian.
[Issued October 23, 1942 (7 F. R. 8 6 3 2 ).]

CERTAIN TRANSACTIONS INVOLVING SUB-ACCOUNTS NOT AUTHORIZED BY
CERTAIN GENERAL OR SPECIFIC LICENSES
Public Circular No. 21.
(1) Status of sub-accounts. Each sub-account of a blocked account is deemed to be a separate blocked
account.
(2) Certain transactions not authorized by General Licenses No. 1, No. 1A, No. 4 and No. 27.
(a) On and after January 16, 1943, General Licenses No. 1, No. 4, and No. 27 shall not be deemed
to authorize the crediting of the proceeds of the sale of securities held in a blocked account or a sub
account thereof, or the income derived from such securities, to a blocked account or sub-account under
any name or designation which differs from the name or designation of the specific blocked account or
sub-account in which such securities were held;
(b) On and after January 16, 1943, General License No. 1A shall not be deemed to authorize the
transfer of securities held in a blocked account or sub-account thereof to a blocked account or sub
account under any name or designation which differs from the name or designation of the specific
blocked account or sub-account in which such securities were held.
(3) Certain transactions not authorized by specific licenses. On and after January 16, 1943, no
specific license shall be deemed to authorize (a) the crediting of the proceeds of the sale of securities held in
a blocked account or sub-account thereof, (b) the crediting of the income derived from such securities or
(c) the transfer of such securities, to a blocked account or sub-account under any name or designation which
differs from the name or designation of the specific blocked account or sub-account in which such securities
were held, unless such specific license by its terms expressly authorizes such crediting or transfer.
[Issued January 15, 1943 (8 F. R. 8 4 5 ).]

INSTRUCTIONS FOR PREPARATION OF REPORTS O N FORM TFR-500, RELATING TO PROPERTY IN
FOREIGN COUNTRIES, BY PERSONS SUBJECT TO THE JURISDICTION OF THE UNITED STATES
Public Circular No. 22, as Amended.
[Issued June 1, 1943; amended July 14, 1943: October 19. 1943: March 23. 1945 (8 F. R. 7465 , 9745. 14277, 10 F. R . 3 1 8 0 ).
Release N o . 46. Public Circular N o. 22 is printed as a separate pamphlet and therefore is not reproduced herein.]

Set Prtis

WAIVER OF CERTAIN PROVISIONS OF REGULATIONS
Public Circular No. 23, as Amended.
(1) The provisions of Section 130.3 of the Regulations of April 10, 1940, as amended on ]une 14, 1941,
issued under Executive Order No. 8389, as amended, relating to applications for licenses, are hereby waived
in the following respects;
(a) Applications for licenses may be filed in duplicate instead of in triplicate.
(b) Applications executed by persons within the United States need not be executed under oath.
(2) The provisions of Section 137.5 (a) of Special Regulation No. 1 and the corresponding instruc
tions in Public Circular No. 22, issued under Executive Order No. 8389, as amended, and Executive Order
No. 9193, relating to reports on Form TFR-500, are hereby waived in the following respect:
Reports executed by persons within the United States need not be executed under oath.
(3) In addition to the provisions of Section 5 (b) of the Trading with the enemy Act, cited in Section
130.5 of the Regulations of April 10, 1940, as amended on June 14, 1941, and in Section 137.7 of Special
Regulation No. 1, attention is directed to Section 35 (A) of the United States Criminal Code, which provides,
in part:
«• * • whoever shall knowingly and willfully falsify or conceal or cover up by any trick, scheme,
or device a material fact, or make or cause to be made any false or fraudulent statements or representa
tions, or make or use or cause to be made or used any false bill, receipt, voucher, roll, account, claim,

The

following

pearing

s h o u l d be

on p a g e

s u b s t i t tit ed
the

1945

for P u b l i c

edition

Circular

of Documents

No.

25.

Pertaining

Fo re ig n Funds C o n t r o l :

CERTAI N

COMMUNI CATI ONS WI TH I T A L Y , BULGARI A OR RUMANIA
EXEMPT FROM GENERAL R UL I NG NO. 1 1

Public C ir cu l ar
(1)

No.

Exempt i on

t i o n s wi th

(2)

certain

c o mmu ni c a

and Rumani a and c e r t a i n

a r e h e r e b y e x e mp t e d

f r om t h e p r o v i s i o n s

acts

and

o f Gen*

(a)

Any c o m m u n i c a t i o n o f a f i n a n c i a l , c o m m e r c i a l , o r b u s
i n e s s c h a r a c t e r w i t h any p e r s o n w i t h i n any p a r t o f t he
t e r r i t o r y o f I t a l y , B u l g a r i a o r Rumani a c o n t r o l l e d o r
o c c u p i e d by the m i l i t a r y , n a v a l , or p o l i c e f o r c e s or
o t h e r a u t h o r i t y o f any o f t h e U n i t e d N a t i o n s :

(b)

Any a c t o r t r a n s a c t i o n

(c)

Any a c t o r t r a n s a c t i o n
any s uc h p e r s o n .

and Rumani a.
b e d ee me d

Bulgaria

11 o f

11:

Certain

territory

Italy,

There

e r a l R u l i n g No.

as Amended.

f r o m G e n e r a l R u l i n g No.

liberated

transacti ons.

not

25,

general

authorize

Italy,

for

l i c e n s e s not

The p r o v i s i o n s
to

i n v o l v i n g any s u c h c o mmu n i c a t i o n ;

Bulgaria

the b e n e f i t

applicable

o f G e n e r a l L i c e n s e s No s .
any r e m i t t a n c e s

o r on b e h a l f

Italy.

Bulgaria

32 and 33 s h a l l

t o any p e r s o n w i t h i n

the

or Rumani a.

^Issued October 17, 1944! amended March 30, 1945 (9 F.F. 12580, 10 F.R.
3433)* See Press Releases Nos. 56 and 66^

certificate, affidavit, or deposition, knowing the same to contain any fraudulent or fictitious statement
or entry in any matter within the jurisdiction of any department or agency of the United States * * *,
shall be fined not more than $10,000 or imprisoned not more than ten years, or both.” Act of April
4, 1938, ch. 69, 52 Stat. 197 (U. S. C. tit. 18, sec. 80).
[Issued September 3, 1943 ; amended September 28, 1943 (8 F. R. 12288, 13227).]

DELETION OF CO RSICA FROM DEFINITION OF "ENEMY TERRITORY"
Public Circular No. 24, Revoked.
[Issued January 25, 1944; revoked November 4, 1944 (9 F. R. 940, 13196) in view o f the deletion o f the reference to Corsica in the definition
of enemy territory contained in General Ruling N o. 11.]

CERTAIN CO M M U N IC ATIO N S WITH LIBERATED ITALY EXEMPT
FROM GENERAL RULING NO. 11
Public Circular No. 25.
(1) E xem ption from G eneral R uling N o. 11 o f certain com m unications with liberated Italy and cer
tain acts and transactions. There are hereby exempted from the provisions of General Ruling No. 11:

(a) Any communication of a financial, commercial or business character with any person within
any part of the territory of Italy controlled or occupied by the armed forces of any of the United
Nations;
(b) Any act or transaction involving any such communications;
(c) Any act or transaction for the benefit or on behalf of any such person.
(2) Certain general licenses n ot applicable to Italy. The provisions of General Licenses Nos. 32 and
33 shall not be deemed to authorize any remittances to any person within the territory of Italy.
[Issued October 17, 1944 (9 F. R. 12580). See Press Release N o. .56.]

STATUS OF NORTHERN BUKOVINA AND BESSARABIA UNDER EXECUTIVE ORDER NO. 8389,
AS AMENDED, AND GENERAL RULING NO. II, AS AMENDED
Public Circular No. 26.
(1)
Status o f N orthern B ukovina and Bessarabia under E xecutive O rder N o. 8389, as amended, and
G eneral R u ling N o. 11, as amended. For the purposes of Executive Order No. 8389, as amended, and

General Ruling No. 11, as amended, Northern Bukovina and Bessarabia shall be deemed to be subject to
the jurisdiction of the Union of Soviet Socialist Republics, in accordance with the terms of the Armistice of
September 12, 1944, between Rumania and the United Nations.
[Issued February 16, 1945 (10 F. R. 1 95 6 ).]

STATUS UNDER THE ORDER OF SYRIA AND LEBANON
Public Circular No. 27.
Status under the O rder o f Syria and L eban on and nationals th ereof. For the purpose of administering
the Order and complying with the provisions thereof:
(a) Syria and Lebanon shall not be deemed to be blocked countries;
(b) Nationals of Syria and Lebanon shall not be deemed to be nationals of a blocked country
solely by reason of the fact that Syria and Lebanon heretofore were regarded as mandates of a blocked
country.
{U kxk I

April 10, 1945 (10 F. R. 3 9 0 4 ).]

CERTAIN GENERAL LICENSES NOT APPLICABLE TO AUSTRIA
Public Circular No. 28.
The provisions of General Licenses Nos. 32 and 33 shall not be deemed to authorize any remittances
to any person within the territory of Austria.
[Issued May 29. 1945 (10 F. R. 6 3 1 3 ).]

PUBLIC INTERPRETATIONS
ISSUED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTIONS
3(a) AND 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS
ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.

Public Interpretation No. I.
S u b j e c t : G e n e r a l L icen se N o . 27.

Inquiry has been made as to whether, under General License No. 27, a blocked account in the name
of A may be credited with dividends on stock held in such blocked account, such stock being owned of
record by B who is also a blocked national.
General License No. 27 authorizes the crediting of A ’s blocked account under the above circumstances.
[Issued January 23, 1942.]

Public Interpretation No. 2.
S u b j e c t : G e n e r a l L ic e n s e No. 53
Inquiry has been made as to whether a trade transaction with a concern in the generally licensed trade
area is excluded from General License No. 53 solely because such concern is a branch or subsidiary of a
concern organized under the laws of a country not within the generally licensed trade area or because a
substantial portion of the stock is held by a person domiciled or resident outside of the generally licensed
trade area.
A trade transaction with a concern doing business within the generally licensed trade area is not
excluded from General License No. 53 for these reasons.
[Issued January 23, 1942.]

Public Interpretation No. 3.
S u b j e c t : G e n e r a l L ic e n s e s Nos. 49, 50, 52, a n d 70, a n d P u b l i c C i r c u l a r No. 15
Inquiry has been made as to whether banking institutions within the United States are authorized
under General Licenses Nos. 49, 50, 52, and 70, as amended by Public Circular No. 15, to effect transactions
concerning which reports on Form TFR-149 must be fded before they have obtained the information
required by Form TFR-149.
Banking institutions are not authorized to effect such transactions unless they are in possession of the
information required by Form TFR-149.
[Issued February 27, 1942.]

Public Interpretation No. 4.
Su b j e c t :

e q u ir e m e n t o f

L icen se f o r C o m m u n i c a t i o n W
O u t s id e t h e U n it e d S t a t e s

reasury

it h a n

E n e m y N a t io n a l

Inquiry has been made as to whether a license from the Treasury Department is necessary in order for
a person within the United States to communicate with an enemy national outside the United States in
relation to, or as a part of, a commercial or financial transaction.
Such communications require licenses from the Treasury Department, which may be applied for on
Form TFE-1 in the usual manner. Communications which relate to, or are a part of, a commercial or
financial transaction include, among others, notices of stockholders’ meetings, proxies, powers of attorney,
authorizations to transfer funds, patent applications, trademark and copyright registrations, financial
statements, accounts of sale, and any instructions which are an integral part of a business, financial, trade,
or commercial transaction. However, it is to be noted that it is the policy of the Treasury Department
not to license such transactions except under very unusual circumstances, such as where the transaction
would further the war effort.
[Issued April 21, 1942.]

Public Interpretation No. 5.
S u b j e c t : A p p l i c a t i o n o f G e n e r a l R u l i n g No. 11 t o I m p o r t s o r E x p o r t s In s u r e d W i t h C o m p a n ie s
W h ic h A r e E n em y N a tio n a ls o r T h r o u g h A g e n ts W h o A r e E n em y N a tio n a ls
I n q u ir y has b e e n m a d e w h e th e r G e n e r a l R u l i n g No. 11 a p p lie s to im p o rts o r e x p o r t s in s u r e d b y in su r
a n ce c o m p a n ie s w h ic h are e n e m y n a tio n a ls o r th r o u g h agen ts w h o a re e n e m y n a tio n a ls.

No Treasury license or other authorization, unless expressly referring to General Ruling No. 11 in
respect to such insurance, is deemed to authorize any import (including any c. i. f. import) or export which
is insured by an insurance company which is an enemy national or through an agent who is an enemy
national, as defined in General Ruling No. 11.
[Issued July 11, 1942.1

Public Interpretation No. 6.
S u b j e c t : S e n d in g S e c u r itie s , C u r r e n c y , C h e ck s , e t c . t o Sw e d e n , S w it z e r l a n d , S p a i n ,
P o r t u g a l a n d U n o c c u p ie d F r a n c e

It has come to the attention of the Treasury Department that persons within the United States have

been sending securities, currency, checks, drafts, and promissory notes to persons in Sweden, Switzerland,
Spain, Portugal, and Unoccupied France.
Any such unlicensed sending of securities, currency, checks, drafts, or promissory notes to such coun
tries is prohibited by the Order. None of the general licenses (including General Licenses Nos. 32, 33, 49,
50, 52, and 70) authorizes any such sending.
[Issued August 31, 1942. See Press Release N a. 40.]

Public Interpretation No. 7.
S u b j e c t : R e m i t t a n c e s U n d e r G e n e r a l L ic e n s e s Nos. 32 a n d 33
Inquiry has been made whether a remittance may be effected under General Licenses Nos. 32 or 33
to an individual for the necessary living expenses of a person not constituting part of the household of
the recipient.
General Licenses Nos. 32 and 33 authorize remittances to individuals only for the purpose of defray
ing the expenses of such individuals and their households. A remittance to an individual for the purpose
of defraying the expenses of a person not constituting part of his household is not authorized under such
general licenses. The transmittal of any instructions to the recipient of remittances under General License
Nos. 32 or 33 directing the transfer of funds to third persons or directing the use of such funds for the
benefit of persons not forming part of the household of the recipient, requires a special license from the
Treasury Department.
[Issued October 17, 1942.]

Public Interpretation No. 8.
S u b j e c t : R e m i t t a n c e s t o E n e m y P r is o n e r s o f W a r U n d e r G e n e r a l L ic e n s e N o . 32
Inquiry has been made as to whether remittances may be sent to German or Italian prisoners of war
in Australia pursuant to General License No. 32.
The Treasury Department has replied that General License No. 32 does not authorize remittances
to enemy prisoners of war in any foreign country.
[Issued October 31, 1942.]

Public Interpretation No. 9.
S u b j e c t : A p p l i c a t i o n o f G e n e r a l R u l i n g No. 11 t o M o n a c o
Inquiry has been made as to whether Monaco is “enemy territory” within the meaning of General
Ruling No. 11, as amended.
The Treasury Department has replied in the affirmative.
[Issued November 27, 1942.]

Public Interpretation No. 10.
S u b j e c t : E x a m in a t i o n o f E n d o r s e m e n t s A p p e a r in g o n C h e c k s a n d D r a f t s R e c e iv e d F r o m A b r o a d

Inquiry has been made as to whether a banking institution which receives a check or draft from a
foreign country is required to examine the endorsements thereon in order to ascertain whether any of
the endorsers are named on the Proclaimed List of Certain Blocked Nationals.
The Treasury has replied that any banking institution which henceforth receives a check or draft
from abroad is required to examine the instrument to determine whether the payee or any of the endorsers
are named on the Proclaimed List. If it is found that the check or draft is drawn in favor or bears the
endorsement of a person who there is reason to believe is a Proclaimed List national, the instrument may
not be endorsed, presented, accepted, collected, paid, transferred, protested, returned, or otherwise dealt
with except pursuant to license expressly referring to General Ruling No. 11. However, the Treasury
Department has stated that it will entertain applications by banking institutions for licenses authorizing,
subject to certain conditions, the presentation, collection, etc., of such instruments.
[Issued February 25, 1943.]

Public Interpretation No. II.
S u b j e c t : P e r s o n s W h o M a y F i l e A p p l i c a t i o n s f o r L ic e n s e s

The following inquiry has been made: where several persons have an interest in a transaction or pro
posed transaction prohibited by the Order, may any one of such persons file an application for a license
authorizing the effecting of such transactions.
The Treasury Department has replied in the affirmative. Under the Order, any person having an
interest in a transaction or proposed transaction may file an application for a license authorizing the
effecting of such transaction, and there is no requirement that any other person having an interest in such
transaction shall or should join in making or filing such application.
[Issued March 8, 1943.]

Public Interpretation No. 12, Revoked.
S u b je c t :

P u b lic C ir c u la r

No. 21—R e p o r t i n g R e q u i r e m e n t A p p l i c a b l e t o S e c u r it ie s T r a n s a c t i o n s
for

S u b -A c co u n ts

[Issued April 23, 1943; revoked April 26, 1944.]

Public Interpretation No. 13.
S u b je c t : V o t in g o f S e c u r it ie s o f D o m e s t ic C o r p o r a t io n s

Inquiry has been made as to whether a license from the Treasury Department is required to vote,
or to solicit proxies or other authorizations with respect to the voting of, securities issued by a corpora
tion organized under the laws of the United States or of any state, territory or district thereof, if a blocked
country or a national thereof has any interest in such securities.
The Treasury Department is not presently requiring a license to vote such securities or to solicit
proxies or other authorizations with respect to the voting thereof. However, if such transactions involve
trade or communication with an enemy national, a license expressly referring to General Ruling No. 11
is required.
[Issued April 26, 1943.]

Public Interpretation No. 14.
S u b je c t : A p p lic a t io n o f G e n e r a l R u lin g N o .

17 t o B a n k e r s ’ A c c e p t a n c e s

I n q u ir y h as b e e n m a d e as t o w h e th e r b a n k e r s’ a c ce p ta n ce s are “ se cu ritie s” w it h in th e m e a n in g
G e n e r a l R u l i n g No. 17.

The Treasury Department has replied in the affirmative. Bankers’ acceptances and commercial paper
are “securities” within the meaning of General Ruling No. 17, notwithstanding previous advice that short
term commercial paper was not to be considered as "securities” within the meaning and for the purposes
of Public Circular No. 14, and that letters of credit, checks, and travellers checks were not to be considered
as “securities” within the meaning and for the purposes of General Ruling No. 5.
[Issued December 22, 1943.]

Public Interpretation No. 15.
S u b j e c t : A p p l i c a t i o n o f G e n e r a l R u l i n g N o . 11, a s A m e n d e d , t o D i p l o m a t i c R e p r e s e n t a t i v e s
o f t h e V ic h y G o v e rn m e n t

Inquiry has been made as to whether diplomatic representatives of the Vichy Government, wherever
situated, are enemy nationals within the meaning of General Ruling No. 11, as amended.
The Treasury Department has replied in the affirmative. It considers that the Vichy Government and
its representatives, wherever situated, are acting for the Government of Germany within the meaning of
section (4) (a) (i) of General Ruling No. 11, as amended, and therefore are enemy nationals.
[Issued June 1,

1 9 4 4 .]

Public Interpretation No. 16, Revoked.
Su b j e c t : A

p p l ic a t io n

eneral

u i .i n g

of the

N o. 11,

F in n is h G

m ended, to

ip l o m a t ic

e p r e s e n t a t iv e s

overnm ent

[Issued July 12, 1944 ; revoked March 1, 1945.]

Public Interpretation No. 17.
Su b j e c t : St a t u s

M e m b e r s o f t h e A r m e d F o r c e s o f t h e U n i t e d St a t e s
A c c o m p a n y in g Su c h A r m e d F o r c e s W h il e i n E n e m y T

and

n it e d

St a t e s C i t i z e n s

e r r it o r y

I n q u i r y h a s b e e n m a d e as t o w h e t h e r m e m b e r s o f th e a r m e d f o r c e s o f th e U n i t e d S ta tes o r c it iz e n s o f
t h e U n i t e d S ta te s a c c o m p a n y i n g s u c h a r m e d f o r c e s i n t h e c o u r s e o f t h e ir e m p l o y m e n t b y t h e G o v e r n m e n t
o f th e U n i t e d S ta tes o r b y a n y o r g a n i z a t i o n a c t i n g o n its b e h a l f a r e e n e m y n a t io n a ls i f t h e y a r e w i t h i n
e n e m y t e r r it o r y .

The Treasury Department has replied in the negative. The fact that such persons are within enemy
territory does not make them enemy nationals, and they are not to be regarded as enemy nationals even
though captured or reported missing. Accordingly, a waiver of General Ruling No. 11 is not required to
act upon instructions received from such persons.
The Treasury Department also has ruled that accounts of members of the armed forces of the United
States and of citizens of the United States accompanying such armed forces in the course of their employ
ment by the Government of the United States or by any organization acting on its behalf may be operated
under General License No. 37. This general license is applicable to the accounts of such persons, regard
less of their presence within enemy territory and even though they are captured or reported missing.
[Issued August 23, 1944.]

Public Interpretation No. 18.
S u b je c t : A p p lic a t io n o f G e n e r a l L ic e n s e N o . 5 t o T r a n s a c t io n s I n c id e n t t o t h e P a y m e n t o f
C u sto m s D u tie s , T a x e s a n d F ees

Inquiry has been made as to whether General License No. 5 authorizes transactions incident to the
payment of customs duties, taxes, and fees from blocked accounts, such as the levying of assessments, the
creation and enforcement of liens, and the sale of blocked property in satisfaction of liens for customs
duties, taxes and fees.
The Treasury Department has replied in the affirmative. In this connection the Treasury Department
stated that payments of amounts vested by the Alien Property Custodian pursuant to Section 5 of Execu
tive Order No. 9193 may be effected under this general license.
[Issued October 16, 1944.]

PRESS RELEASES
RELATING TO CERTAIN DOCUMENTS PERTAINING TO FOREIGN FUNDS CONTROL

REFERENCE— EXECUTIVE ORDER NO. 8389, AS AMENDED; REGULATIONS
APPROVED JUNE 14. 1941
Press Release No. I.
J u n e 14, 1941

In view of the unlimited national emergency declared by the President, he has today issued an Execu
tive Order freezing immediately all German and Italian assets in the United States. At the same time the
Order also freezes the assets of all invaded or occupied European countries not previously frozen. These
include Albania, Austria, Czechoslovakia, Danzig, and Poland. The freezing control will be administered by
the Treasury Department.
These measures in effect bring all financial transactions in which German and Italian interests are
involved under the control of the Government, and impose heavy criminal penalties upon persons failing to
comply therewith. The Executive Order is designed, among other things, to prevent the use of the financial
facihties of the United States in ways harmful to national defense and other American interests, to prevent
the liquidation in the United States of assets looted by duress or conquest, and to curb subversive activities
in the United States.
With a view to implementing the control of German and Italian assets in this country and in view of
the interrelationship of international financial transactions, the Executive Order has also been extended to
the remaining countries of continental Europe. However, it is intended that through the medium of
general licenses the freezing control will be lifted with respect to Finland, Portugal, Spain, Sweden, Switzer
land, and the Union of Soviet Socialist Republics, conditional upon the receipt of adequate assurances from
the governments of such countries that the general licenses will not be employed by them or their nationals
to evade the purposes of this Order. Furthermore, transactions under the general licenses will be subject to
reporting and careful scrutiny.
Simultaneously, with the issuance of the Executive Order, the President approved regulations ordering
a census of all foreign-owned property in the United States. This census will relate not only to property in
the United States belonging to countries and nationals subject to freezing control but to all other countries
as well.
Under previous Executive Orders freezing control has been extended to the assets of Norway, Denmark,
the Netherlands, Belgium, Luxembourg, France, Latvia, Estonia, Rumania, Bulgaria, Lithuania, Hungary,
Yugoslavia and Greece.

REFERENCE— GENERAL LICENSES NOS. 49 AND 50
Press Release No. 2 (Press Service No. 25-99).
J u n e 20, 1941.

The Treasury Department has today issued general licenses relating to Switzerland and Sweden and
nationals of such countries.
The Swedish general license authorizes transactions by the Government of Sweden or the Central Bank
thereof, provided that no other blocked country or national thereof is interested in such transaction. Such
general license also authorizes transactions by nationals of Sweden, provided that a representative in New
York City of the Swedish Legation designated for such purpose by the Swedish Minister has first certified
in writing to the effect that the Government of Sweden has determined that no other blocked country or
national thereof is interested in such transaction. Banking institutions will receive such certifications
directly from the Swedish representative.
The Swiss general license authorizes any transaction by the Government of Switzerland or the Central
Bank of Switzerland, including any transaction by the Government or the Central Bank for the account
of other nationals of Switzerland, provided that no other blocked country or national thereof is interested
in such transaction.
The variations in the general licenses were drawn so as to conform to differences in control of exchange
in the two countries.
Both Sweden and Switzerland have given appropriate assurances to this Government in connection with
the Executive Order and such general licenses.

REFERENCE— GENERAL LICENSE NO. 51
Press Release No. 3. (Press Service No. 26-9).
J u n e 2 4 , 1 9 4 1.

A general license under the freezing control order was issued today with respect to transactions of
the Union of Soviet Socialist Republics and its nationals. The State Department requested, and the
Treasury Department and the Department of Justice approved, the issuance of the license without require

ment of the formal assurances which have been requested of European neutral nations affected by the
freezing order.
At the time the freezing order was extended to all of continental Europe, the President announced that
it was intended through the medium of general licenses to facilitate transactions of certain countries and
their nationals. Issuance of such licenses was to be conditioned upon the receipt of adequate assurance from
the Governments of such countries that the general licenses would not be employed by such countries or their
nationals to evade the purposes of the freezing order. Recent events concerning the Union of Soviet Socialist
Republics have made such assurances unnecessary.

REFERENCE— REGULATION APPROVED JUNE 14, 1941; PUBLIC CIRCULAR NO. I
Press Release No. 4. (Press Service No. 26-37).
J u l y 9, 1 9 4 1 .

Secretary Morgenthau today extended until August 30, 1941, the time for filing the census reports of
all foreign-owned property in the United States.
The census was ordered by the Secretary, with the approval of the President, on June 14 simultaneous
with the issuance of the Executive Order freezing the assets of all the countries in continental Europe not
previously frozen. At that time the census reports were ordered to be filed by July 14.
The Secretary called attention to the fact that the census will relate not only to property in the United
States belonging to countries and nationals subject to freezing control, but to all other foreign countries
and nationals as well.
Treasury officials said that a new form for reporting the census (Form TFR-300) is being drawn up,
and indicated that it will be available for distribution in about ten days. Such forms may be obtained from
any Federal Reserve bank as well as from the Treasury Department. Other banks also will be in a position
to furnish such forms.
Secretary Morgenthau said that it is expected that this extension will afford ample opportunity for all
persons and institutions to report all foreign-owned property in the United States.

REFERENCE— GENERAL LICENSE NO. 52
Press Release No. 5. (Press Service No. 26-48).
J u l y 11, 1941.
The Treasury today issued a general license under the freezing order relating to Spain and nationals
thereof and their assets in this country.
The Spanish general license authorizes any transaction by the Spanish Institute of Foreign Exchange,
including any transaction by the Institute for the account of other nationals of Spain, provided that no
other blocked country or national thereof is interested in such transaction.
Treasury officials said that Spain has given appropriate assurances to this Government consistent with
the general license and the purposes of the Executive Order of June 14, which extended freezing control
to all countries of continental Europe.

REFERENCE— PROCLAMATION; GENERAL LICENSE NO. 53
Press Release No. 6.
J u l y 17, 1941.
As a further step in view of the unlimited national emergency declared by the President, he has today
issued a proclamation authorizing the promulgation of a list of persons which will be known as “The
Proclaimed List of Certain Blocked Nationals.” The list will consist of certain persons deemed to be acting
for the benefit of Germany or Italy or nationals of those countries, and persons to whom the exportation,
directly or indirectly, of various articles or materials is deemed to be detrimental to the interest of national
defense. The list will be prepared by the Secretary of State acting in conjunction with the Secretary of the
Treasury, the Attorney General, the Secretary of Commerce, the Administrator of Export Control and the
Coordinator of Commercial and Cultural Relations between the American Republics.
Simultaneously with the issuance of the proclamation, a proclaimed list was issued by the designated
Government officials containing the names of more than 1800 persons and business institutions in the other
American Republics. This list is the result of long and intensive investigations and studies by the interested
governmental agencies. The list will be published in the Federal Register and may be obtained in pamphlet
form from various governmental institutions and the Federal Reserve Banks. From time to time there will
be additions to and deletions from the list which will also be made public. The President gave warning that
anyone serving as a cloak for a person on the list will have his name added forthwith to the list.
The list will have two principal functions. In the first place, no article covered by the Export Control
Act of July 2, 1940, may be exported to persons named in the list except under special circumstances.
Secondly, persons on the list will be treated as though they were nationals of Germany or Italy within the

meaning of Executive Order No. 8389, as amended, under which, on June 14, 1941, the freezing control was
extended to all of the countries of the continent of Europe and nationals thereof.
At the time of the issuance of the proclamation, it was also announced that in attaining the objectives
of Executive Order No. 8389, as amended, all efforts are being made to cause the least possible interference
with legitimate inter-American trade. With that end in view the Treasury Department has issued a general
license with respect to inter-American trade transactions and the financial transactions incidental thereto
involving persons in the other American republics who may be nationals of a European country designated
in the Order. This general license will permit such classes of transactions without the necessity of applying
for specific licenses.
The general license, however, will not apply to persons so long as their names appear on the proclaimed
list. In addition, exporters and importers in the United States may from time to time be advised by their
banks or otherwise that instructions have been issued by the Secretary of the Treasury requiring specific
license applications for trade transactions involving certain persons in the other American republics who
are not named on the proclaimed list.
Furthermore, financial transactions which are not incidental to licensed trade transactions are not
covered by the general license. With respect to such purely financial transactions, appropriate specific
licenses will have to be obtained from the Treasury Department.
The proclaimed list will also serve as a guide to United States firms in the selection of agents and
representatives in the other American republics.

REFERENCE— EXECUTIVE ORDER NO. 8389, AS AMENDED; REGULATIONS
APPROVED JULY 26, 1941
Press Release No. 7.
J u l y 26, 1941.
In view of the unlimited national emergency declared by the President, he has today issued an Execu
tive Order freezing Japanese assets in the United States in the same manner in which assets of various
European countries were frozen on June 14, 1941. This measure, in effect, brings all financial and import
and export trade transactions in which Japanese interests are involved under the control of the Govern
ment and imposes criminal penalties for violation of the Order. This Executive Order, just as the Order of
June 14, 1941, is designed among other things to prevent the use of the financial facilities of the United
States and trade between Japan and the United States, in ways harmful to national defense and American
interests, to prevent the liquidation in the United States of assets obtained by duress or conquest, and to
curb subversive activities in the United States.
At the specific request of Generalissimo Chiang Kai-shek and for the purpose of helping the Chinese
Government, the President has, at the same time, extended the freezing control to Chinese assets in the
United States. The administration of the licensing system with respect to Chinese assets will be conducted
with a view to strengthening the foreign trade and exchange position of the Chinese Government. The
inclusion of China in the Executive Order, in accordance with the wishes of the Chinese Government, is
a continuation of this Government’s policy of assisting China.

REFERENCE— GENERAL LICENSE NO. 53
Press Release No. 8. (Press Service No. 26—89).
A

u g u st

6, 1 9 4 1 .

The Treasury Department today amended General License No. 53, greatly expanding its scope of
operation.
When first issued on July 17, 1941, the license dealt with inter-American trade transactions and the
financial transactions incidental thereto, involving persons in the other American republics who were
nationals of any of the countries whose assets have been frozen. The amended general license accords
similar privileges to blocked nationals within an area designated as the “generally licensed trade area.”
The "generally licensed trade area,” as defined, includes:
(1) the American Republics;
(2) the British Commonwealth of Nations;
(3) the Union of Soviet Socialist Republics;
(4) the Netherlands East Indies;
(5) the Netherlands West Indies;
(6) the Belgian Congo and Ruanda-Urundi;
(7) Greenland; and
(8) Iceland.
As in the case of its predecessor, the amended general license will not apply to persons so long as their
names appear on “The Proclaimed List of Certain Blocked Nationals” and will not apply to financial
transactions not incidental to licensed trade transactions.

REFERENCE— G E N E R A L LIC E N SE N O . 70

Press Release No. 9. (Press Service No. 27-1).
A u gust

12, 1941.

The Treasury Department has issued a general license under the freezing order relating to Portugal
and nationals thereof and their assets in this country.
The Portuguese general license authorizes transactions by the Government of Portugal or the Central
Bank thereof, provided that no other blocked country or national thereof is interested in such transactions.
Such general license also authorizes transactions by nationals of Portugal, provided that the Central Bank
of Portugal has first certified in writing to the effect that the Central Bank has determined that no other
blocked country or national thereof is interested in such transactions.
Treasury officials said that Portugal has given appropriate assurances to this Government consistent
with the general license and the purposes of the freezing order.

REFERENCE— REGULATIONS APPROVED JUNE 14, 1941; GENERAL LICENSES
NOS. 42 AND 68; PUBLIC CIRCULARS NOS. I AN D 4
Press Release No. 10. (Press Service No. 27-15).
A u g u s t 18, 1941.
Copies of Form TFR-300 to be used for the census of all foreign-owned property subject to the juris
diction of the United States are being forwarded to the Federal Reserve Banks and will be available for
distribution by them to the public within the next few days. This census is being taken pursuant to the
recent freezing orders and will furnish the most comprehensive and accurate picture of all foreign-owned
property in the United States.
By an amendment to Public Circular No. 1 the time for filing such reports has been extended to
September 30, 1941.
Form TFR-300 has been prepared after extensive study by the Treasury in consultation with State
and Justice Departments and other Government agencies. In addition, conferences have been held with
representatives of banks, trust companies, and brokers, of shipping, railroad, and insurance corporations,
and of business and professional groups.
Reports are required concerning all property, subject to the jurisdiction of the United States, which
is foreign-owned or in which a national of a foreign country has an interest, regardless of whether such
property belongs to a foreign country or foreign national whose assets have been frozen under Executive
Order No. 8389. The census will reveal the amount of property in this country owned by citizens of the
British Empire and Latin America as well as that owned by Japanese, German, Italian, and other European
and Asiatic interests. The census will furnish the most complete information ever obtained with respect
to foreign-owned property in this country.
Form TFR-300 is being issued in nine series adapted for facility in reporting property by particular
groups and classes of persons required to make a report. It has thus been possible to provide each person
obliged to report with a form suited for his purposes. Public Circular No. 4 now also being distributed,
contains general instructions covering Form TFR-300 as a whole and specific instructions as to the use
of each series of Form TFR-300. Detailed instructions, therefore, have not been printed on any series of
the form.
A report on Form TFR-300 must be filed by every person in the United States concerning all property
subject to the jurisdiction of the United States and held by him or in his custody, control, or possession
in which on either June 1, 1940, or June 14, 1941, a foreign country or national thereof had any interest.
Reports regarding such property must be filed by foreign nationals who are in this country. Every kind
of property interest of a national is required to be reported, including, among other things, debts owed
by anyone to a national of a foreign country and all contracts with a national of a foreign country. Cor
porations and other organizations are required to report all shares of stock, bonds, or other securities
issued by them and owned by nationals of a foreign country. Every agent or representative in this country
who knows of property in the United States belonging to a foreign national for whom he is acting must
report such property. In the case of Chinese or Japanese property reports are required with respect to
property in the United States on July 26, 1941, as well as on the two earlier dates.
No reports are required regarding the property of foreign nationals who are ‘‘generally licensed
nationals” under General License No. 42 or General License No. 68. These general licenses relate to
foreign nationals domiciled and resident in this country continuously since June 17, 1940, or since earlier
dates with regard to the nationals of Norway, Denmark, Belgium, Holland, and Luxembourg. Nor are
reports required to be filed if the total value of all property of any foreign national which any one person
would otherwise be required to report was less than $1,000, except that this exemption does not apply
to leases of safe deposit boxes, patents, trade marks, copyrights, franchises, interests in partnerships or
profit-sharing agreements, or property the value of which cannot readily be determined.

The Federal Reserve Banks will answer questions as to whether a person is required to make a report
and what series of Form TFR-300 should be used.
Failure of any person to file a report required of him will subject him to criminal penalties.

REFERENCE— PUBLIC CIRCULAR NO. 6
Press Release No. II. (Press Service No. 27-51).
S e p t e m b e r 13, 1941.
As a further step to prevent the sale in this country of securities which have been looted abroad, the
Treasury today announced that persons holding blocked foreign bonds should make application to the
appropriate Federal Reserve Bank to have a clearance certificate attached to such securities. This will
also prevent the depletion of blocked dollar balances through devious transactions in blocked foreign
bonds and serve to carry out the other objectives of the freezing orders.
Hereafter any licenses issued under the freezing orders will limit the redemption, etc., of bond deben
tures or similar obligations issued by the government of any blocked country or by corporations organized
under the laws of such country to securities bearing a clearance certificate on Treasury Form TFEL-2.
The Treasury stated that bona fide holders of such securities since prior to September 15, 1941, should
experience little difficulty in clearing their securities. Persons acquiring such securities on or after Septem
ber 15, 1941, which do not bear a clearance certificate may experience considerable difficulty in obtaining
the attachment of such form and will be asked to trace the ownership of such securities since April 8,
1940. It was emphasized that while the owners of such securities since prior to September 15, 1941, could
continue to hold the securities after such date without prejudicing their chances of obtaining the neces
sary clearance, anyone acquiring such securities on or after September 15, 1941, should make certain that
Form TFEL-2 had been attached prior to purchase.
Previous regulations issued by the Department have already imposed restrictions upon the importa
tion of securities as well as on dealings in securities held abroad or bearing foreign stamps.
Details regarding the new requirement appear in Treasury Department Public Circular No. 6 issued
today under the freezing orders.

REFERENCE— REGULATIONS APPROVED JUNE 14, 1941; PUBLIC CIRCULAR NO. I
Press Release No. 12. (Press Service No. 27-59).
S e p t e m b e r 18, 1941.
The Treasury Department today announced that, in response to many requests, it has extended until
October 31, 1941, the time for filing the census reports of foreign-owned property on Form TFR-300. The
census was ordered by the Secretary of the Treasury, with the approval of the President, on June 14, 1941,
simultaneously with the issuance of the Executive Order freezing the assets of all countries in continental
Europe not previously blocked.
Treasury officials today again emphasized that under the Order and the Regulations of June 14, 1941,
reports on Form TFR-300 are required to be filed with respect to all foreign-owned property in the United
States and not merely with respect to the property of blocked countries and nationals thereof.

Form T F R -3 0 0 was made available at all Federal Reserve Banks and at the Treasury Department
during the last week in August. Since that time, a large num ber of questions have been received by the
Department and by the Federal Reserve Banks in regard to various aspects o f the report.

The Foreign Exchange Committee of New York recently published a series of questions and answers
particularly relating to banks, which it had prepared after consultation with the Treasury. Other groups
have likewise presented inquiries which are being considered. It is believed that by this cooperation
between the Treasury and persons obliged to report, both the accuracy of the reports and the convenience
of persons reporting will be promoted.
The Treasury feels that the response to the census report has been gratifying up to the present time
and believes that the extension of time announced today will facilitate the submission of complete and
accurate reports and insure ample opportunity for the consideration of all questions and problems.

REFERENCE— GENERAL LICENSE NO. 73
Press Release No. 13. (Press Service No. 27-95).
O c t o b e r 9, 1941.
At the request of the Chinese Government the Treasury Department today issued a general license
liberalizing the status of certain Chinese partnerships under the freezing orders.
The new general license frees the accounts of a large number of Chinese partnerships engaged in
business within the continental United States, particularly on the west coast. The need for this general

license arose principally from the fact that “silent partners” are quite customary in Chinese partnerships
and very frequently one or more of these “silent partners” would be a resident of China, thus subjecting the
whole partnership to freezing control.
The Treasury stated that the new general license also relieves the affected partnerships from the obliga
tion of filing census reports on Form TFR-300 with respect to their property.

REFERENCE— GENERAL LICENSES NOS. 32 AN D 33
Press Release No. 14. (Press Service No. 28-17).
O c t o b e r 23, 1941.
The Treasury Department today took further strong measures to prevent the Axis from realizing free
dollars or other valuable foreign currencies through remittances to Axis controlled areas.
Under today’s amendment to General License No. 32 remittances to persons in the Axis countries and
in Axis controlled countries cannot be made if such remittances make free dollars or valuable foreign
currency available to the Axis. Such remittances are still permitted if only blocked dollars result from
the transaction.
This policy has not as yet been fully applied with respect to remittances to American citizens in the
“frozen” countries. Remittances to such Americans may continue substantially as at present under General
License No. 33.
The Treasury Department also indicated that the same strict policy would be followed in dealing with
applications for special licenses. It was further indicated that amounts made available to American citizens
in Axis countries and Axis controlled countries under special licenses may be drastically curtailed.

REFERENCE— GENERAL LICENSES NOS. 58 AN D 75
Press Release No. 15. (Press Service No. 28-41).
N o v e m b e r 12, 1941.
The Secretary of the Treasury today announced amendments to General License No. 58 relating to
trade between the United States and China under the freezing control and the issuance of a new general
license covering remittances to China.
Under today’s amendment to General License No. 58 trade between the United States and China
will be cleared through the Stabilization Board of China* or its authorized agents. U. S. Customs
authorities have been instructed before clearing shipments to require proof that this condition has been
satisfied. The dollars accruing from exports from China to the United States will be made available to
China, and the National Government of China will be aided in controlling imports.
The foreign position of China will also be strengthened by the new General License No. 75 covering
remittances to China. Pursuant to this license remittances in any amount are permitted to any part of
China, except Manchuria, as long as the United States dollars arising from such remittances are made avail
able to the Stabilization Board of China* upon its demand. Dollars in Chinese blocked accounts as well
as unblocked dollars may be employed in making such remittances.
Under General License No. 75 any domestic bank in the United States can accept orders for remit
tances to China. Such remittances are then effected by a domestic bank paying the dollar amount of the
remittance to a designated agent of the Central Bank of China for the account of an “appointed bank.”
These dollars will in turn be made available to the Stabilization Board of China upon demand against deliv
ery of an equivalent amount of Chinese national currency. The Chinese Government has announced that
the Bank of China and the Philippine Bank of Communications have been named as designated agents
of the Central Bank of China.
Both the United States and Great Britain have previously entered into stabilization agreements with
China whereby dollar and sterling exchange have been made available to the Stabilization Board of China.*
Such Board* was established recently by China and consists of three Chinese, an American appointed by
China on the recommendation of the Secretary of the Treasury, and a British national appointed on the
recommendation of the British Treasury.
The term “appointed bank” is defined in General License No. 58 as “any of those banks cooperating
with the Stabilization Board of China* and buying and selling foreign exchange with the permission of,
and subject to the conditions prescribed by, such Board,* the names of which appear on Schedule A of
this general license at the time the transaction is effected.” The offices within Hong Kong and any part of
China except Manchuria of the following banks have been named “appointed banks” :
(a) The Chase Bank.
(b) National City Bank of New York.
(c) Underwriters Bank for the Far East.
(d) American Express Company.

(e)
(f)
(g)
(h)
(i)
(j)
(k)
(1)
(ra)
(n)
(o)
(p)
(q)
(r)
(s)
(t)
(u)
(v)
(w)
(x)
(y)
(z)

Moscow Narodny Bank, Ltd.
Thos. Cook & Son (Bankers) Ltd.
Hongkong & Shanghai Banking Corporation.
Mercantile Bank of India, Ltd.
David Sassoon & Co., Ltd.
E. D. Sassoon & Co., Ltd.
E. D. Sassoon Banking Co., Ltd.
Chartered Bank of India, Australia & China, Ltd.
Nederlandsch Indische Handelsbank.
Nederlandsche Handel Maatschappij.
Shanghai Commercial and Savings Bank, Ltd.
Bank of East Asia, Ltd.
National Commercial Bank, Ltd.
Chekiang Industrial Bank, Ltd.
Bank of Canton, Ltd.
Overseas-Chinese Banking Corporation, Ltd.
Kincheng Banking Corporation.
China Banking Corporation.
Bank of China.
Bank of Communications.
Farmers Bank of China.
Central Bank of China.

[• The "Commission for the Control of Foreign Exchange Assets" was substituted for the "Stabilization Board of China" by amendment o f
March 15, 1944 to General Licenses N os. 58 and 75.]

REFERENCE— GENERAL LICENSES NOS. 42 AN D 42A
Press Release No. 16. (Press Service No. 28-64).
N o v e m b e r 27, 1941.
The Treasury Department today issued a general license liberalizing the freezing control restrictions
with respect to certain classes of refugees who have been residing within the United States since June
17, 1940.
General License No. 42, issued on June 14, 1941, freed the accounts of bona fide refugees who had been
both domiciled and resident in the United States since specified dates in 1940. The new General License
No. 42A conferred similar privileges on those refugees who could comply with the residence and other
requirements of General License No. 42 but could not meet the domiciled requirement.
The Treasury’s decision to make this liberalization was prompted by a special study of the census
reports which have been filed on Form TFR-300. It was explained that because of the difficulties connected
with obtaining immigration visas many refugees had been barred from the privileges of General License
No. 42. It was also pointed out that in many other cases there was doubt as to whether the refugee could
satisfy the domicile requirements of General License No. 42. It now will be unnecessary to resolve that point
because such persons may take advantage of the new General License No. 42A.
Attention was called to the fact that while the property of persons licensed under General License
No. 42 need not have been reported on census report Form TFR-300 no such exemption was made under
the new General License No. 42A. The new general license expressly states that such reports are required
to have been filed.

REFERENCE— PUBLIC CIRCULAR NO. 8
Press Release No. 17. (Press Servce No. 28-80).
D e c e m b e r 8, 1941.
The Treasury Department calls the attention of all banking institutions and other interested persons
to the fact that the revocation by the Treasury Department in Public Circular No. 8 of all outstanding
general and specific licenses insofar as they authorize any transaction by, or on behalf of, or for the benefit
of, Japan and her nationals has, among other things, the following significant immediate effects:
(1)
No Japanese national now has the status of a generally licensed national. In this connection,
attention is called to the following:
(a) Japanese nationals resident in this country are blocked under the freezing Order, irrespective
of the length of their residence in this country;
(b) No Japanese bank, business enterprise, or other organization now has the status of a generally
licensed national, including the Yokohama Specie Bank, Ltd. and all its branches, the Bank of Taiwan,
the Sumitomo Bank of Hawaii, the Sumitomo Bank of California, the Sumitomo Bank of Seattle, and
the Pacific Bank, Honolulu.

(2) No withdrawals whatsoever are allowed from any account in any banking institution, if Japan or
any national of Japan, has any interest in such account. This includes withdrawals for living expenses as
well as for any other purpose.
(3) No withdrawals whatsoever are allowed from any safe deposit box by Japan or any national of
Japan, and access is not allowed to any safe deposit box in the contents of which Japan or any national of
Japan has any interest.
(4) No remittances in any amounts whatsoever may be made to Japan or any national of Japan,
wheresoever located, including remittances to United States citizens resident in Japan.
(5) No trade transaction with any part of the world, including trade with Latin America, in which
Japan or any national of Japan hat any interest may be effected.

REFERENCE— SECTION 3 (a) TRADING WITH THE ENEMY ACT; GENERAL LICENSE THEREUNDER
Press Release No. 18.
D e c e m b e r 13, 1941.
The President today issued a general license under Section 3 (a) of the Trading with the enemy Act
permitting any transaction which the Secretary of the Treasury licenses under the freezing control orders.
With the outbreak of the present war, Section 3 (a) of the Trading with the enemy Act became effective.
This section prohibits any person from trading with enemy unless authorized by the President. As a
consequence banking and business institutions throughout the country refused to put through transactions
because they might involve German, Italian or Japanese interests.
The Treasury Department already controls transactions involving German, Italian or Japanese interests
under the freezing orders. Todays’s action by the President integrates the licensing procedure under Section
3 (a) of the Trading with the enemy Act with that of the Treasury Department undpr freezing control.
The new general license provides that transactions which the Secretary of the Treasury licenses under the
freezing control orders may be effected without regard for the provisions of Section 3 (a) of the Trading
with the enemy Act.

REFERENCE— GENERAL LICENSE NO. 68A
Press Release No. 19. (Press Service No. 29-3).

D e c e m b e r 15, 1941.
The Treasury Department today further relaxed to some extent and under appropriate safeguards the
tight restrictions which had been placed upon Japanese residing in this country. It will be remembered that
on the outbreak of war the Treasury, as a precautionary measure, placed a complete stoppage on all
Japanese financial and commercial transactions and took custody of many Japanese enterprises.
On December 11, the Treasury issued regulations governing living expenses and wages for Japanese
nationals in the United States and regulations governing Japanese nationals engaged in the production,
marketing, and distributing of food and agricultural products.
The general license issued today by the Treasury unblocks the accounts of Japanese nationals who have
resided continuously within the continental United States since June 17, 1940 and permits business enter
prises within the continental United States owned and controlled by such Japanese nationals to continue
to operate, except in those cases in which Treasury representatives are maintained on the premises or an
official Treasury notice is posted indicating that such premises are under Government control. It is antici
pated that Treasury representatives and posted notices will be removed from the premises of many Japanese
enterprises in which they are now maintained thus allowing such enterprises to resume normal operations
under such general license. It is further anticipated that special business operating licenses will lie issued
to many Japanese enterprises in which Treasury representatives are continued to be maintained allowing
such enterprises to operate under Government surveillance.
Representatives in this country of concerns located abroad or owned and controlled by persons located
abroad are excluded from the privileges of the general license.
The Japanese nationals who are given the benefits of today’s license are subjected to certain reporting
requirements and other restrictions which will constitute safeguards against the abuse of such benefits.

REFERENCE— PUBLIC CIRCULAR NO. 8A
Press Release No. 29. (Press Service N. 29-19).
D e c e m b e r 20, 1941.
The Treasury Department today reinstated certain general licenses under the freezing Order in their
application to Japanese nationals. It will be remembered that on December 7, 1941, all general and
specific licenses were revoked in so far as they concerned Japanese nationals.

Public Circular No. 8A, issued today, authorizes Japanese nationals to pay taxes and fees to the Federal
and State governments, to deposit their funds in blocked accounts in banks, and to engage in certain other
limited types of financial transactions under proper safeguards.

REFERENCE— PUBLIC CIRCULAR NO. 9
Pres* Release No. 21. (Press Service No. 29-28).
D

ecember

24, 1941.

The Minister of Denemark to the United States has informed the Secretary of the Treasury that
coupons falling due January 1, 1942, on Kingdom of Denmark 6 percent External Gold Bonds, due January
1, 1942 will not be paid in dollars if held by Denmark or persons within Denmark. The Danish Minister
has requested the assistance of the Secretary of the Treasury in making this limitation effective.
In view of this request, the Treasury Department today issued Public Circular No. 9, which revokes
all outstanding licenses and authorizations to the extent that they would otherwise permit sale, presenta
tion for payment or redemption, or other disposition on behalf of Denmark or persons within Denmark,
of such coupons and other Danish securities.
The text of the letter from the Danish Minister is as follows:
"I beg to inform you that the Kingdom of Denmark is desirous of paying the coupons falling due
on January 1, 1942, of the Kingdom of Denmark 20-year 6 percent External Gold Bonds. It is planned
to exclude from payment in dollars the coupons presented on behalf of Denmark or persons within
Denmark.
“It will facilitate this program if appropriate restrictions are imposed upon transactions and deal
ings for the account of Denmark or persons within Denmark in Danish securities. Accordingly, I
would appreciate your imposing the necessary restrictions.”

REFERENCE— EXECUTIVE ORDER NO. 8389, AS AMENDED
Press Release No. 22. (Press Service No. 29-30).
D

ecember

27, 1941.

The President last night issued an Executive Order freezing Hong Kong assets in the United States.
This action was taken as the result of the fall of Hong Kong into Japanese hands. Under the new Execu
tive Order all financial and trade transactions in which Hong Kong interests are involved are brought
under the control of the Government and criminal penalties for any violations are imposed.
The new Executive Order also provides for the automatic freezing of the assets of any other territory
in case it should be occupied or overrun by the military, naval or other forces of the Axis.

REFERENCE— PUBLIC CIRCULAR NO. 10
Press Release No. 23. (Press Service No. 29—31).
D e c e m b e r 27, 1941.

In view of the occupation of Hong Kong, and the freezing of Hong Kong assets by the President, the
Treasury Department has issued Public Circular No. 10, which revokes certain general licenses which
specifically relate to Hong Kong. The public circular also has the effect of blocking the accounts of all
banks in Hong Kong and in occupied China, and of preventing the offices in Hong Kong and occupied
China of such banks from financing trade and handling remittances between the United States and China.

REFERENCE— PUBLIC CIRCULAR NO. II; GENERAL LICENSE NO. 80
Press Release No. 24. (Press Service No. 29-41).
J a n u a r y 5, 1942.

In view of the situation created by the temporary enemy occupation of important parts of the Philip
pine Islands, the Treasury Department today issued Public Circular No. 11 calling attention to the fact that
Philippine assets have been automatically frozen under the December 26, 1941, amendment to the freezing
Orders.
The new public circular prescribed that for the purposes of the freezing Orders the Philippine Islands
should be regarded as if they were a separate blocked country and that January 1, 1942, would be regarded
as the effective date of the freezing regulations as applied to the Philippines. This was done to facilitate
the administration of freezing control over Philippine assets and also to provide the public with specific
standards to guide their compliance with the freezing regulations relating to the Philippines. For all prac

tical purposes this had the same effect as though freezing control had been specifically extended to the Philip
pine Islands on January 1, 1942.
The public circular also announced that census reports on Form TFR-300 were required to be filed
with respect to Philippine assets. Details regarding this requirement will be announced later. Certain
general licenses relating to the Philippine Islands were revoked and others were amended. New general
licenses were issued dealing with problems arising out of freezing Philippine assets. These general licenses
followed the general pattern of documents issued in the past in connection with extending freezing control
to a new country.
In view of General License No. 80 issued today the freezing restrictions will not affect Philippine citi
zens within the United States or within the generally licensed trade area.

REFERENCE— GENERAL RULING NO. 10
Press Release No. 25. (Press Service No. 29-57).
J a n u a r y 14, 1942.
Secretary Morgenthau disclosed today that prompt action by American officials in the Philippines
prevented many millions of dollars worth of securities, coin, currency, bullion, jewelry and other property
from falling into the hands of the Japanese. This is the first application of the “scorched earth policy”
which any country has as yet made to this class of valuables.
In anticipation of the temporary occupation of Manila and other parts of the Philippines and remem
bering the experience of unprepared European countries that permitted hundreds of millions of dollars
of valuables to fall into the hands of Germany, the Secretary of the Treasury, in cooperation with the
Secretary of the Interior and at the direction of the President, vested in the U. S. High Commissioner the
sweeping powers of Title III of the First War Powers Act of 1941, and authorized him to take all necessary
steps to prevent bullion, currency, coin, checks, securities, and similar valuables from falling into enemy
hands. The High Commissioner was authorized to destroy any of these assets or otherwise dispose of
them rather than to permit the Japanese to acquire them.
Although it is too early to state the amount of valuables within the Philippines which were turned
over to or impounded by the High Commissioner, it is certain that the amount runs into many millions.
No information has come to the Department of any significant amount of such valuables falling into enemy
hands.
Secretary Morgenthau pointed out that High Commissioner Sayre had been assisted in executing
this program by Treasury Department representatives, who had been detailed from Washington last July
to assist the High Commissioner in administering the freezing control in the Philippines. The Secretary
commended the courage and ability of those people in carrying out this program.
The Treasury today, acting in cooperation with the Department of the Interior and at the direction
of the President, issued a general ruhng under the freezing regulations imposing a strict control over
Philippine securities and impounding Philippine paper currency within the United States. These measures,
together with those taken simultaneously by the Philippine Government, are designed to choke off the
market for any assets which the Japanese may subsequently discover in their looting operations in the
Philippines.

REFERENCE— GENERAL RULING NO. 10
Press Release No. 26. (Press Service No. 29-56.)
J a n u a r y 14, 1942.
At the direction of the President, the Treasury Department acting in cooperation with the Department
of the Interior today issued a general ruling under the freezing regulations imposing a strict control over
Philippine securities and impounding all Philippine paper currency within the United States.
These measures, taken at the request of the Philippine Government are designed to thwart any attempt
by the Axis to dispose of looted Philippine assets in the United States. Simultaneously the Philippine Gov
ernment took action to prevent looted assets being liquidated in markets outside the United States. It was
pointed out that not only does this interfere with the Axis war effort but in addition it may contribute
materially to minimizing Axis looting in the Philippines by removing the incentive for such action.
Under today’s general ruling all Philippine paper currency within the United States must be deposited
in blocked currency accounts in banks on or before February 1, 1942. Currency placed in such accounts
may be removed only with permission of the Treasury Department under a freezing control license. On or
before February 15, 1942, banks must report all Philippine currency in their possession. All dealings in
such currency are prohibited. This is intended to destroy any possible “black market” in the United States
for looted Philippine currency which might otherwise be smuggled into the country.

The general ruling also curbs all dealing in securities issued by, or the obligation of, either the
Philippine Government or any corporation organized under Philippine law unless a “clearance certificate”
known as Treasury Department Form TFEL—2 has been attached. Persons within the United States
holding any such securities will be able to have the clearance certificates attached to their securities before
February 1, 1942, with a minimum of inconvenience since the Federal Reserve Banks will automatically
attach the certificates upon presentation of the securities accompanied by their description.
After February I, 1942, the clearance certificates will be attached to Philippine securities only after
the holder has satisfactorily explained his possession of the securities and the reasons a clearance certificate
was not attached prior to February 1, 1942.
The Treasury Department called attention to the notice of the Philippine Government to all holders
of Philippine securities and currency which was issued today. This notice directed all holders of such
securities and currency in all countries except enemy countries to deposit their holdings with banks and
forward a registration report through their bank to the New York office of the Philippine National Bank.
The full text of such notice is as follows:
“In order to protect bona fide holders of Philippine currency and securities from the effects which
would otherwise result from the disposition of such securities and currency which may have been
looted during the temporary occupation of parts of the Philippine Islands, the following notification
is hereby given on behalf of the government of the Commonwealth of the Philippines.
"All holders o£ Philippine paper currency elsewhere than within the Philippine Islands are notified
to deposit such currency on or before February 1, 1942 for registration and safekeeping in a reputable
bank located outside, and organized under the laws of a country other than an enemy country, or terri
tory occupied or controlled by an enemy. Depositors of such currency should obtain an appropriate
receipt from such bank identifying the currency by kind, denomination and serial number. Banks
receiving such currency for such deposit or holding such currency for their own account are hereby
notified to hold it in safekeeping pending further instruction. Each such bank sh®uld immediately
forward to the New York agency of the Philippine National Bank, 25 Broadway, New York, New York,
a report in three counterparts, certifying the names and addresses of the depositors of such currency,
the date of deposit, the amount so deposited by each depositor and the description (including serial
number) of the currency so deposited. Such reports should be placed in the mail on or before Febru
ary 15, 1942. Each counterpart should, if feasible, be dispatched by separate means.
“All holders, outside the United States and elsewhere than within the Philippine Islands, of
securities issued by, or the obligation of, either the government of the Commonwealth of the Philip
pines, including political subdivisions thereof, or any corporation or other organization organized
under the laws of that government are notified to follow a similar procedure. Banks receiving such
securities for registration and safekeeping should identify them as completely as possible in the receipts
given to depositors and in their reports which are forwarded to the New York agency of the Philippine
National Bank. Such reports should include the name and address of the depositor, date of deposit, and
the description should include the name of the issuing party, the issue, the total number of securities
the serial or certificate numbers, and the name of the registered owner, if any, and in appropriate cases,'
the denomination.
“The government of the Commonwealth of the Philippines has requested the United States
Treasury Department and the Department of the Interior to make appropriate provision for the regis
tration of Philippine Government and corporate securities located within the United States, and to
adopt such regulatory measures as will assist in carrying out the purposes of this notification with
respect to both currency and securities. Compliance with the provisions of General Ruling No. 10
issued by the United States Treasury Department, under Executive Order No. 8389, as amended, shall
be deemed to be compliance with the requirements of this notice.
“All Philippine securities and currency not registered pursuant to this notice will be presumed by
the government of the Commonwealth of the Philippines, in the absence of clear proof to the con
trary, to have come under the control of the enemy.
J . M. E l i z a l d e ,
Resident Commissioner of the Philippines
to the United States.”

REFERENCE— PUBLIC CIRCULAR NO. 14
Press Release No. 27. (Press Service No. 30-6).
F e b r u a r y 3, 1942.

The Treasury Department today issued Public Circular No. 14 which prohibits the purchase, without
special license, for any blocked account of more than 1 per cent of the outstanding shares of any one class
of any corporation. The purpose of this restriction is to make doubly sure that the Treasury Department

may deal specifically with any attempt on the part of blocked nationals to utilize Treasury Department
licenses for the purpose of acquiring a substantial interest in American corporations.
Public Circular No. 14 also simplifies and makes uniform the various outstanding reporting require
ments relating to the purchase and sale of securities pursuant to licenses issued under the freezing Order.
The circular prescribes a new form (TFR-4) which must be filed in any case where securities are purchased
or sold under a Treasury Department license involving amounts exceeding the limitations contained in
Public Circular No. 14. Thus, if securities are purchased or sold under the authorization of one of the
general licenses which permit transactions on behalf of the neutral countries of Europe and their nationals,
a report on TFR -4 is required to be filed. The use of the new form will facilitate enforcement of the 1 per
cent limitation mentioned above.
Provision is made in the public circular for a 15-day period during which brokerage houses and banks
may adjust their records so that they may comply with the new requirements.

REFERENCE— PUBLIC CIRCULAR NO. 4B
Press Release No. 28. (Press Service No. 30—21).
F e b r u a r y 10, 1942.
The Treasury Department announced today that Series K of Form TFR-300, to be used in reporting
the property of Philippine nationals, is being forwarded to the Federal Reserve Banks for distribution to
the public within the next few days. This census, which was announced in Public Circular No. 11, issued
on January 5, was necessitated by the Japanese invasion of the Philippine Islands.
Series K is patterned after previous series of Form TFR-300, which have resulted in the most compre
hensive survey of foreign-owned property ever made in this country.
Reports on Series K are required from all persons in the United States holding property in which a
national of the Philippine Islands had an interest on either June 1, 1940, or January 1, 1942, or both.
Property located in the Philippine Islands need not be reported. The reports must be filed with the
appropriate Federal Reserve Bank on or before February 28, 1942.
Public Circular No. 4B, which will also be available at the Federal Reserve Banks, contains complete
directions for preparing reports on Series K. The Circular includes not only general instructions to all
persons reporting on the series, but also additional instructions for certain groups of persons holding speci
fied kinds of property. The Federal Reserve Banks will answer questions concerning the reporting
requirements.
Reports need not be made with respect to property of persons entitled to the benefits of General
License No. 80, General License No. 81, or General License No. 82, nor is a report required if the total
value of the property of a national otherwise reportable by a particular person was less than $1,000.
General Liccnse No. 80 exempts the property of nationals of the Philippine Islands residing in the United
States. General License No. 81 relates to certain banking institutions. Under General License No. 82, no
report need be filed respecting property of the Philippine Government or its subdivisions, the United
States High Commissioner to the Philippine Islands, or any officer of the United States in the Philippines.
In addition, no report is required concerning the property of citizens of the United States, who are
nationals of the Philippine Islands solely because of residence there as representatives, agents, or employees
of the United States, or as members of the armed forces of this country, nor need reports be made of
property belonging to the family of any such person.

REFERENCE— GENERAL LICENSES NOS. 42, 42A, 68, AND 68A
Press Release No. 29. (Press Service No. 30-44).
F e b r u a r y 23, 1942.
The Treasury Department today liberalized the freezing control restrictions by according to refugees
arriving in the United States after June 17, 1940, the same treatment as that previously extended to other
refugees.
At the same time the Treasury simplified the freezing control regulations with respect to resident
aliens by consolidating into one general license the freezing control provisions applicable to all individuals
(except nationals of Japan) now residing in the United States, and to the business concerns blocked solely
because of the interest of such individuals. This was done by amending General License No. 42 and at
the same time revoking General Licenses No. 42A and No. 68.
For some time the practice of the Treasury Department has been to liberalize the freezing control
restrictions relating to bona fide immigrants and refugees in the United States and, at the same time, to
tighten the controls in their application to individual cases singled out for close supervision. The experi
ence gained by the Foreign Funds Control during the past 22 months and the mass of information gathered
by it, particularly on the TFR-300 census reports, have enabled the Treasury Department effectively to
carry out this policy.

Treasury officials stated that persons dealing with residents of the United States may now assume that
such residents are not blocked unless they are affirmatively on notice to the contrary. The Treasury Depart
ment will rely on banking institutions to exercise continued vigilance in seeing that accounts which are
not entitled to the privileges of General License No. 42 remain blocked, in carrying out instructions of the
Treasury Department in cases which are singled out for special treatment, and in bringing unusual or
otherwise suspicious transactions to the attention of the Foreign Funds Control through the Federal
Reserve banks.
Nationals of China, who were previously subject to the provisions of General License No. 68, are now
entitled to all the benefits of General License No. 42.
The New General License No. 42 does not free the accounts of persons who have been acting on
behalf of Axis countries. Likewise, it has no effect on the great bulk of frozen assets, which are owned or
controlled by foreign governments or by individuals or concerns located outside the United States. Nationals
of Japan are still subject to the provisions of General License No. 68A and were not affected by today’s
action.

REFERENCE— GENERAL RULING NO. 6A
Press Release No. 30. (Press Service No. 30-73).
M a r c h 13, 1942.

The Treasury Department took action to control the importation of foreign and domestic cur
rency 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 Depart
ment has authorized its release.

REFERENCE— GENERAL LICENSES NOS. 13, 15, 20, 21 AN D 53; PUBLIC CIRCULAR NO. 17
Press Release No. 31. (Press Service No. 30-74).
M a r c h 13, 1942.
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 rcspect to territories
temporarily falling under enemy domination.
Treasury officials said that the Netherlands East Indies will continue to be regarded as a part of the
Netherlands, frozen by Executive Order of May 10, 1940.

REFERENCE— GENERAL RULING NO. II; CO M M U N IC A TIO N S RULING NO. I
Press Release No. 32. (Press Service No. 30-79).
M a r c h 18, 1942.
Regulations adapting the old 1917 Trading with the enemy Act restrictions against trade and com
munications under wartime conditions to the requirements of the present war were issued today by Henry
Morgenthau, Jr., Secretary of the Treasury, in conjunction with Byron Price, the Director of Censorship.
Communications Ruling No. 1, issued today by the Director of Censorship, removes many of the old
1917 restrictions on communication with the other American Republics and certain other areas. However,
this ruling does not authorize the sending or transmitting of any communication to an enemy national.
Communications must comply with all regulations issued by the Office of Censorship. The Office of Censor
ship pointed out that communications authorized by the ruling will be subject to censoring, the ruling
simply permitting the mailing or transmitting of the letter or other message.
Under General Ruling No. 11, issued today by the Secretary of the Treasury, all transactions involving
trade or communication with an enemy national are unlawful unless licensed under the freezing regulations.
Moreover, no freezing control license will hereafter authorize transactions involving trade or communica
tion with an enemy national unless the license expressly refers to this general ruling. However, the Secre
tary of the Treasury does have the power to license such transactions and an appropriate license under the

freezing orders is also a license under section 3 (a) of the Trading with the enemy Act. In this manner the
licensing procedure under the freezing orders is integrated with the trading with the enemy provisions of
section 3 (a) of the Trading with the enemy Act.
Today’s action by the Secretary of the Treasury also has the effect of synchronizing Communications
Ruling No. 1 and General Ruling No. 11 so that the persons regarded as “enemy nationals” for communi
cations purposes are also to be regarded as “enemy nationals” under the wartime prohibitions on trading
with the enemy. The transmission of any communication to an enemy national requires a license or
authorization from the Office of Censorship but only such communications as are an integral part of a trade,
financial, or other commercial transaction will also require a license under the freezing orders. Treasury
officials stated that they would pursue their regular Foreign Funds Control policy of generally dealing with
all phases of a transaction under one application rather than splitting up a transaction into one application
on the communication phase and a different application on other phases.
General Ruling No. 11 also defines the terms “enemy national,” “enemy territory,” and “trade or com
munication with an enemy national.” One of the principal effects of today’s regulations is embodied in
these definitions. They modify the old 1917 restrictions against trade and communication under wartime
conditions by substituting the new concept “enemy national” for the old “enemy” and “ally of enemy”
terminology of the last war. This change was made so that the public might be afforded a more precise
understanding of the restrictions on trade and communications under wartime conditions. At the same
time this change also permitted an effective adaptation of these restrictions to the pattern of the present war.
Under today’s regulations persons may not trade or communicate with an “enemy national.” This
means that they may not trade or communicate with (a) enemy territory; (b) any person whose name
appears on the "black list,” i.e., The Proclaimed List of Certain Blocked Nationals, or any person acting
for a black listed person; and (c) representatives or agents of the Government of Germany, Italy, Japan,
Bulgaria, Hungary or Rumania, whether situated within or without enemy territory. “Enemy territory”
was defined as meaning the territory of Germany, Italy, and Japan, together with the territory under their
occupation or control. The principal areas falling into this latter category were listed by name as a
convenience to the public.
Officials explained that today’s regulations were more specific as to the groups with which trade
and communication was unlawful than were the old statutory terms of “enemy” and “ally of enemy.” Thus,
for example, during the last World War persons in the United States were charged with the duty of not
trading or communicating with any firm in Latin America “doing business within the territory of any
nation with which the United States is at war.” While this was a commendable objective, yet in most
instances a person in the United States had no way of knowing whether a Latin American firm was in fact
■“doing business within the territory of any nation with which the United States is at war.” Today a person
in the United States may freely trade or communicate with any one in Latin America unless such person is
on the published “black list” or is known to be an agent or representative of such person or for one of the
Axis governments or their satellites. Thus a person may deal with the Buenos Aires branch of an Italian
firm so long as such branch is not placed on the black list or is not known to be acting as a cloak for a
Proclaimed List national or for the Axis. Of course, a person may not trade or communicate with such Latin
American branch if in fact he intends to use this as a device for actually communicating with the head
office of the firm in Italy.
These same general rules are applicable with respect to trade and communication with enemy nationals
in the United States. It was emphasized that the provisions against trade and communication with enemy
nationals do not. make it unlawful to deal with persons in the United States merely because such persons
are German or Italian aliens or because a business house within the United States has a Japanese name.
Officials also pointed out that the activities of persons within the United States, which are inimical to the
war effort and the security of the Western Hemisphere, are dealt with by effective internal controls, includ
ing the control of aliens by the Department of Justice, as well as freezing control.
The Treasury Department called attention to the fact that General Ruling No. 11 imposes an addi
tional restriction in every general and special license now outstanding or hereafter issued under the freezing
orders. The new general ruling has the effect of writing into every Foreign Funds Control license a
restriction against any transaction which directly or indirectly involves any trade or communication with
an enemy national after March 18, 1942.
Thus, for example, General Licenses Nos. 32 and 33 no longer authorize remittances to persons in
enemy territory or any other remittances involving communication with an enemy national. Likewise,
securities or trade transactions based on instructions received after March 18, 1942, from enemy territory
or enemy nationals may not be effected under outstanding licenses.
One exception to the general restrictions was made. The general ruling does provide that it shall not
affect outstanding specific licenses which expressly authorize transactions with Proclaimed List nationals.
Officials explained that there were relatively few such licenses outstanding and that these represented
special cases such as the Goverment of a Latin American country undertaking to impose special local
controls on the activities of a black listed firm.

Upon the entry of the United States into the present war, the public telegraph and cable companies
were instructed to submit to the office of the Naval Censor all telegrams, cablegrams, and wireless messages
delivered to such companies for transmission out of the United States. Pending the announcement of a
formal procedure under section 3 (c) of the Trading with the enemy Act, the Treasury Department and the
Office of Censorship authorized the delivery of messages to public telegraph and cable companies and such
messages were passed upon by the Naval Censor and, if approved, authorized to be dispatched. This
informal procedure was regarded by the Treasury Department and the Office of Censorsnip as licensed
under section 3 (c) of the Trading with the enemy Act. Communications Ruling No.l, issued today, super
sedes this informal arrangement.
Officials called attention to the fact that, subject to today’s modifications, the prohibitions against trade
and communication with the enemy appearing in the old 1917 Trading with the enemy Act are still in effect
and that persons violating such provisions are subject to heavy criminal penalties.

REFERENCE— GENERAL RULING NO. II; PUBLIC CIRCULAR NO. 18
Press Release No. 33. (Press Service No. 30-90).
M a r c h 30, 1942.
The Treasury Department made public today the standard of conduct which United States concerns
doing business within Latin America are required to follow with respect to transactions involving enemy
nationals. Public Circular No. 18 issued today made it clear that United States concerns operating in Latin
America, including their agents, subsidiaries and affiliates, may not deal in any manner whatsoever with
enemy nationals, except pursuant to specific authorization of the Treasury Department.
This public circular was issued in response to inquiries received by the Treasury Department after the
release of General Ruling No. 11 which prohibits, unless specially licensed, transactions involving trade or
communication with enemy nationals. “Enemy national” was defined in General Ruling No. 11 as meaning
(a) any person within enemy territory; (b) any person whose name appears on the “black list,” i.e., The
Proclaimed List of Certain Blocked Nationals, or any person acting for a black listed person; and (c)
representatives or agents of the governments of Germany, Italy, Japan, Bulgaria, Hungary or Rumania,
whether situated within or without enemy territory. “Enemy territory” was defined as meaning the terri
tory of Germany, Italy and Japan, together with the territory under their occupation or control.
Today’s public circular calls attention to the fact that the prohibitions against dealings with enemy
nationals are applicable to any person within the Western Hemisphere who is subject to the jurisdiction
of the United States, including all individuals and concerns within the United States; all citizens of the
United States wheresoever located; all concerns organized under the laws of the United States or having
their principal place of business in the United States, including any agent, subsidiary, or affiliate of any
such concern wheresoever located; and any concern which is owned or controlled by any other concern
subject to the jurisdiction of the United States.
The important features of the standard of conduct set forth in today’s public circular are the following:
(a) American controlled concerns operating in Latin America are prohibited from having any
financial, business, trade or other commercial dealings with persons or firms within enemy territory.
Thus a Latin American branch of a New York corporation may not have any dealings (except under
license) with a firm situated wiihin Germany, Italy or Japan or within any territory controlled or
occupied by such countries.
(b) American controlled concerns operating in Latin America may not deal (except under
license) with persons or firms on the black list or any person or firm acting for a black listed firm.
The restrictions on dealings with enemy nationals are subject to the licensing power of the Secretary of
the Treasury, who in specific instances may authorize transactions. However, authorizations to deal with
enemy nationals will be given only in exceptional circumstances, and then only when it is clear that the
best interests of this country and the other American Republics will be served by allowing the transactions
involved.
United States diplomatic and consular officers in Latin America have been authorized to receive appli
cations for licenses, and they have been authorized to take action on such applications in certain cases with
out referring the applications to the Treasury Department. American concerns within Latin America who
desire information or advice will be able to consult the nearest United States diplomatic or consular official..
It was stated that if any American concern fails to comply with the standards of conduct which have
been established, any of a number of sanctions might be employed. Among these sanctions are the placing
of the name of any noncomplying concern on the Proclaimed List, the blocking of the assets of any such con
cern, and the criminal prosecution of the firm and its officers under the Trading with the enemy Act, the
First War Powers Act, and other appropriate legislation.
The Treasury Department is also urging American firms within the United States who are trading
with neutral countries to cooperate with the Government in detecting and stopping the cloaking operations

of enemy nationals. Effective cooperation on the part of American importers and exporters, it was said,
could stop cloaking transactions. It was pointed out that the flow of goods between Germany and Italy and
Latin America having been stopped by the war, Axis firms in the Latin American Republics are exercising
all of their cunning in an effort to carry on trade with this country. Huge commissions are paid to cloaks
for their services in securing supplies which will enable black listed firms to continue in business. Orders
are sent in the name of relatives and employees, and in some cases transshipments are made from one coun
try to another in order to avoid detection. Americans who are engaged in the export-import trade are in a
favorable position to discover and report such operations because they can recognize the source of imports
or discover similarities between orders received from cloaks and previous orders of black listed persons in
the locality of the cloak.

REFERENCE— GENERAL RULING NO. 12
Press Release No. 34. (Press Service No. 31-28).
A p r il 2 1 , 1942.

The Treasury Department in a formal statement issued today called attention to the fact that all
unlicensed transfers of blocked assets in the United States are void and unenforceable.
General Ruling No. 12, issued by the Secretary of the Treasury, makes clear that unlicensed transfers
of blocked assets in violation of the freezing orders, and transfers designed or having the effect of evading
such orders, always have been void and unenforceable.
Secretary Morgenthau, commenting on today’s general ruling, pointed out that these unlicensed trans
fers of blocked assets always have been void and unenforceable under the freezing orders and that today’s
ruling serves the purpose of emphasizing this fact for the benefit of any of the public who may have over
looked this aspect of freezing control.
He also called attention to the provisions of the ruling, making it possible for persons who have been
parties to unlicensed transfers of blocked assets to file applications for licenses to validate these transfers.
“The Treasury, of course, wants to be reasonable about this matter,” he stated, “we do not propose to
allow our regulations, intended for the protection of our country and the United Nations, to become an
instrumentality for defeating their interests or producing unconscionable advantages or unreasonable hard
ships. These matters can be dealt with by licenses without undue interference with the purposes of freezing
control.”
Treasury officials pointed out that there are more than seven billion dollars in blocked assets in the
United States. The Government’s policy on this matter, as reflected in today’s formal ruling, has nullified
attempts by the Axis to gain title to the billions of dollars in assets belonging to nationals of the countries
overrun by the Axis. It has defeated efforts of the Axis to wrest control of such assets away from their lawful
owners and hold them in the hopes that in the postwar period it will be possible to realize on such assets if
freezing restrictions are lifted. Of equal significance is the fact that it has destroyed any possible black market
in neutral countries for blocked assets—one of the ways the Axis would like to be able to obtain the foreign
credit necessary to finance imports from neutral countries into Axis territory and also one of the ways the
Axis would like to be able to gain the funds necessary to subsidize espionage, sabotage and fifth column
activities in the United Nations, Latin America and elsewhere.
Treasury officials explained that based on the evidence of what the Axis was doing with assets of the
overrun countries within their physical control, Axis efforts in an operation of this character would follow
no single pattern. Rather they would run the gamut from outright duress—assignments at the point of a
gun, or with the Gestapo as “witnesses”—through to the more subtle “legal” transfers—the purchase of such
blocked assets against payment in local currency obtained as occupation costs or by forced loan from banking
institutions in the occupied areas. In these latter cases the point of the gun would not be levelled at the
individual but would be levelled at the central bank and “Quisling” governments who would provide the
credit for the Axis to “buy” their country’s birthright.
The net effect of such transfers would not vary, however, they would be intended to mulct the ovemm
countries of the very life-blood of any postwar reconstruction, namely, the foreign exchange needed to obtain
the goods and services necessary for rebuilding the economies of these countries. Axis war psychology would
be benefited also—by depriving the holders of their title to these assets the Axis would encourage a spirit of
defeatism and a willingness to succumb to the German “new order.”
Officials also explained that based on the operation of the neutral black market in looted assets
physically in the control of the Axis, it was easy to anticipate the type of black market the enemy might try
to foster for "blocked assets.” This neutral black market operation would be designed to give the Axis
immediate returns on blocked assets even though the Axis could not get such assets out from under our
freezing regulations. In this case the assets would be assigned or otherwise transferred to neutral speculators
at heavy discount in order that the Axis could obtain credit now to buy goods and services in neutral coun
tries and thus assist the war effort. Of course some of these black market operations would be for the obvious
purpose of lining the pockets of Axis officialdom as insurance against the day when the Axis is crushed.

100

Neutral speculators would either hold such assignments with the intent of salvaging on them after the wax
or in the hope of being able to squeeze the blocked assets through the freezing control by one trick csanother.
As was pointed out, since freezing control makes null and void or unenforceable all transfers with
respect to blocked assets unless licensed by the Secretary of the Treasury, Axis attempts to gain title to thesK
assets are frustrated and the true owner’s interests are protected and he continues to have a valuable stake
in a victory by the United Nations.
Commenting upon today’s ruling, Secretary Morgenthau stated: “This government served notice on the
world when we froze the assets of Norway and Denmark on April 10, 1940, that we did not intend to permit
the Axis to realize any use or benefit from Norwegian and Danish assets in the United States. Since that time
we have consistently pursued this policy with respect to every country falling under the Axis yoke. The policy
of this government always has been unequivocal. We will not allow the Axis, directly or indirectly, to gain
any interest in the seven billion dollars in blocked assets in this country. Neither those funds nor any interest
in them will be used against the United Nations by the Axis. Neither will they be used as a part of
Germany’s economic ‘new order’ in Europe or Japan’s ‘co-prosperity sphere’ in the Pacific.”
It was emphasized that while freezing control attempted to interfere as little as possible with normal
legitimate commercial transactions, still the Government was combatting a menace of sweeping proportions
and was compelled to block all corrosive efforts of infiltration through loopholes. Freezing control and the
Government’s policy is therefore comprehensive and the licensing technique must be freely used to prevent
hardship in legitimate cases. Thus, under the freezing orders, more than eighty general licenses have been
issued, permitting vast categories of transactions under appropriate safeguards without even filing an appli
cation. In addition, more than 400,000 specific licenses also have been issued.
Paragraph (1) of today’s general ruling deals with unlicensed transfers made after the effective date of
the freezing orders involving property in blocked accounts. If any such transfer was made after the account
was actually blocked, then the transfer is null and void unless licensed. Thus, if a bank blocked the account
of a national of Denmark on April 10, 1940, and on June 10, 1940, the national attempted to assign title to
the account to a German, the transfer would be null and void unless the Treasury licensed it. On the other
hand, if a transfer were made before the account was actually blocked, but attempt was made to enforce it
while the account was in fact blocked, the transfer would be unenforceable. By way of example: On July 15,
1941, John Doe, resident in Argentina, assigned his account with an American bank to Richard Roe in the
United States. On September 15, 1941, the Treasury instructed the bank to block the account of John Doe
as a national of Rumania. After September 15, 1941, the assignment would be unenforceable against John
Doe’s blocked account unless the transfer were licensed by the Treasury Department.
Paragraph (2) of the general ruling deals with transfers alleged to have been made before the effective
date of the freezing orders but involving accounts thereafter blocked. These transfers are unenforceable
against blocked accounts unless the person with whom the blocked account was held or maintained had
written notice of the transfer or had recognized it in writing prior to the effective date of the Order. Thus,
if in the example above, the national of Denmark had assigned the bank account to the German in 1937 and
the bank was not notified of the assignment until June 10, 1940, the assignment would be unenforceable
against the blocked account unless licensed. If, on the other hand, the bank was notified in writing of the
assignment before April 10, 1940, then the assignment is enforceable against the blocked account (but, of
course, payment from the blocked account could only be made pursuant to Treasury license).
Treasury officials pointed out that the policy behind paragraph (2) of the general ruling was under
standable. If the general ruling had been merely prospective in operation, it would be easy for Axis agents
to validate transfers obtained under duress by the subterfuge of dating them prior to the effective date of the
Executive Order. This would, of course, defeat one of the major purposes of freezing control. Officials
pointed out that in those cases where notice of the transfer was given to the person maintaining the account
in this country and where the transfer had been accepted by that person as valid, the provisions of the general
ruling are inapplicable since under those circumstances the notice is an adequate precaution to guarantee
that the transfer was made prior to the effective date of freezing control.
Paragraph (3) of the ruling provides that a license issued by the Treasury Department, either before or
after a transfer, completely validates the transfer for the purposes of freezing control. Of course, if an
assignment would have been invalid without freezing control, (e. g., because not properly executed) a
Treasury license does not purport to remedy this type of invalidity.
Paragraph (4) is but a formal statement of the position which the Treasury Department has always taken
on litigation (including attachments) affecting blocked assets. The Treasury has no desire to limit the bring
ing of suits in courts within the United States, provided that no greater interest is created by virtue of the
attachment, judgment, etc, than the owner of the blocked account could have voluntarily conferred without
a license. Thus, the Treasury does not want to interfere with the orderly consideration of cases by the
courts provided that the results of court proceedings are subject to the same policy consideration from the
point of view of freezing control as those arising through voluntary action of the parties.
Paragraph (5) defines various terms employed in the ruling. For example: the term “transfer” is given
a very comprehensive meaning, excepting only certain types of transfers by operation of the law (e. g.,

101

transfer by intestate succession). The term “property” is broad but by and large does not include mere
chattels or real property. The term “blocked account” is in efEect limited to accounts actually treated as
blocked accounts by the person with whom such account is held or maintained.
Paragraph (6) is technical in character and reserves the full right of the Government to prosecute for
violations of the freezing orders and emphasizes that General Ruling No. 12 is not intended to modify
outstanding freezing orders, regulations, etc.

REFERENCE— GENERAL RULING NO. 5
Press Release No. 35. (Press Service No. 31-67).
M a y 19, 1942.
The Treasury Department today extended its controls over importation of securities so as to cover the
importation of currency. Prior to today’s action, controls over the importation of currency have been limited
to importations from blocked countries and Proclaimed List nationals. Under the new ruling, currency
upon importation into this country will be forwarded immediately to a Federal Reserve Bank as fiscal agent
of the United States. The Federal Reserve Bank will thereafter hold such currency or deliver it to a domestic
bank to be held until such time as the Treasury Department has authorized its release.
It was pointed out that just as in the case of the provisions applicable to securities which are subject to
similar control, the provisions of the amended general ruling applicable to currency imported from Latin
America will be so administered as to prevent interference with legitimate importations of currency from
that area, including the bringing in by travelers of reasonable amounts of currency for traveling expenses.
Treasury officials suggested that the fact that an importation of currency from Latin America was bona fide
could be more easily established if such currency were sent into the United States by and for the account of
the central banks (or the equivalent or analogous institutions) of any of the American Republics under
appropriate assurances from such banks or institutions.

REFERENCE— GENERAL RULING NO. 13
Press Release No. 36. (Press Service No. 31-74).
M a y 22, 1942.
The Treasury Department in a formal statement issued today called attention to the fact that any
interested party is entitled to file an application for the unblocking of accounts or other property on the
grounds that no blocked national has an interest in the property, and is entitled to be heard on such appli
cation. General Ruling No. 13, issued today, makes this clear and sets forth the procedure for filing
applications.
The Treasury Department noted that in this situation, as in all other situations arising under the
freezing control, full opportunity will continue to be afforded to anyone desiring a hearing on an application.

STATEMENT ISSUED BY THE WHITE HOUSE WITH REFERENCE TO THE AMEND
MENT OF EXECUTIVE ORDER NO. 9095, ON JULY 6, 1942
Press Release No. 37.
J u l y 6, 1942.
The following statement is offered in explanation of the above order:
The President has signed an executive order allocating powers and functions between the Alien Property
Custodian and the Secretary of the Treasury with respect to property of enemy neutral, and occupied
countries and their nationals.
The Executive Order provides for the following division:
1. The Alien Property Custodian will handle:
(a) Enemy-owned or controlled businesses (including dummies) operating in the United States and
the dollar balances and other assets of such businesses.
(b) Businesses owned or controlled by nationals of neutral or occupied countries and which are
now under Treasury regulation where the Alien Property Custodian certifies that it is necessary in the
national interest for him to assume control in order (i) to protect the property; (ii) to remove personnel
or supervise employment policies; (iii) to liquidate, reorganize or sell the business; (iv) to manage the
business; or (v) to vest the business.
(c) All other enemy property except dollar balances, bullion and securities unless the dollars,
bullion or securities of an enemy are needed by the Alien Property Custodian in the management of
other property taken from the same enemy.
(d) All foreign-ovmed patents, copyrights, and trade-marks.

102

(e) Foreign ships (particularly that group of enemy-owned ships which the United States has
libeled and are now involved in judicial forfeiture proceedings).
(f) All forms of property and claims of enemy nationals involved in estates trusts, receivership
proceedings, etc. The Alien Property Custodian would also handle the representation of the interest
of enemy nationals and persons in occupied countries in judicial and administrative proceedings in the
United States and the Alien Property Custodian will issue regulations governing the service of process
on such persons.
2. The Treasury will continue to handle:
(a) The dollar balances, bullion and securities of governments or nationals except those which
belong to an enemy business.
(b) All property of the occupied and neutral countries and their nationals except those particular
business enterprises where the Ahen Property Custodian determines that it is necessary in the national
interest for him to assume control.
(c) All transactions or business dealings with countries frozen under the freezing orders including
the control of all trade and commercial communications with the enemy and enemy-controlled
countries.
(d) All other phases of freezing control which it has handled in the past or which may hereafter
arise.
3. Both the Alien Property Custodian and the Treasury will be given full powers under section 5 (b)
of the Trading with the enemy Act, as amended by the First War Powers Act, to enable them to discharge
their respective functions with the further stipulation that should the Secretary of the Treasury have occa
sion to vest any property (other than the assets of foreign governments and central banks), such property
will be vested in and dealt with by the Alien Property Custodian upon the terms directed by the Secretary
of the Treasury. Appropriate provision is made for consultation with the State Department before either
the Treasury or the Alien Property Custodian does any vesting.
4. The Secretary of the Treasury also retains the powers under section 3 (a) of the Trading with the
enemy Act, as amended, in order to enable the Treasury to continue its present control over transactions
involving trade and communication with the enemy.

REFERENCE— GENERAL RULING NO. I0A
Press Release No. 38. (Press Service No. 32-83).
A u g u s t 12,1942.
The Treasury Department today announced a moratorium on obligations of Philippine companies held
in the United States. This moratorium does not apply to the obligations of the Philippine Government.
Pursuant to General Ruling No. 10A issued today under the presidential freezing orders no Philippine
company may make any payment in this country on its obligations and no person may enforce in the United
States any claim or obligation against a Philippine company. Such payments can be made and such claims
can be enforced only if a foreign funds control license is first obtained.
Treasury officials stated that today’s action was intended to make it clear that the assets in the United
States of Philippine companies were fully frozen so that the interests of all the parties involved could be
fully and properly protected. It was pointed out that some of these Philippine companies had assets in the
Philippines worth many millions of dollars before the war and only a relatively small amount of funded
indebtedness. The companies do not have assets in the United States at this time to meet maturing obliga
tions and since no one knows or could know, the present condition or value of property in the Philippines,
it is, at the present time, impossible to deal fairly with the respective rights of stockholders, bondholders
and other creditors. Under today’s ruling the situation will be frozen until it is possible to ascertain the facts.
It was pointed out by Treasury representatives that Philippine companies would not be permitted to
use today’s ruling to avoid paying their obligations in any case where funds were available and such pay
ments could be made on an equitable basis. In such cases the Treasury will license payments upon
appropriate application by interested parties. Moreover, the Treasury expects Philippine companies to
furnish their creditors upon demand with information concerning their present ability to pay their
obligations. Any failure to furnish such information will be dealt with appropriately by the Treasury.

REFERENCE— GENERAL RULING NO. 14
Press Release No. 39. (Press Service No. 32-87).
A u g u s t 14,1942.
Secretary Morgenthau today announced that the Government of Mexico and the Government of the
United States have, in cooperation, taken steps to further supplement the measures aimed at preventing the
disposition within the Western Hemisphere of currency looted by the Axis.

103

The Government of Mexico has prohibited the importation into that country of all United States
currency other than bills of two-dollar denomination and United States coins. At the same time all United
States currency presently within Mexico has been ordered into the Bank of Mexico and associated banks.
Such currency will not be released by the Mexican Government but in those cases in which persons who have
turned over such currency can prove that the currency was legitimately acquired and free from Axis taint,
the peso equivalent will be turned over to the person surrendering the United States currency. It was
announced that persons failing to turn in United States currency in their possession would be treated as
enemies of Mexico within the meaning of the Mexican laws dealing with trading with the enemy and enemy
property.
In order to supplement the Mexican decree the Treasury announced that on and after August 14, 1942,
it would be illegal to export to Mexico any United States currency other than coins and bills of two-dollar
denomination. Furthermore, all United States currency brought into this country from Mexico on and
after August 14,1942, (except coins and bills of two-dollar denomination), will be required to be surrendered
to the United States customs authorities at the border. Such currency will be turned over to the Federal
Reserve Banks in accordance with the procedure established under General Ruling No. 5, as amended.
The effect of this joint measure of the United States and Mexican Governments is to prevent use being
made of Mexico as a place in which Axis agents may dispose of dollar currency looted abroad.
Treasury spokesmen stated that the new regulations would in no way interfere with the legitimate
activities of residents on either side of the United States-Mexico border who have long been accustomed to
using pesos and dollar currency without distinction on both sides of the international line. The exemptions
provided in both the Mexican and United States rulings will allow pesos to enter and leave the United
States and American two-dollar bills and coins to enter and leave Mexico freely.
It was further said that the new regulations would not affect the free passage across the border of checks,
drafts, traveler’s checks and other credit instruments in the same manner as has been true up to the present
time. Likewise nothing contained in the present regulations will prevent Americans from maintaining bank
accounts in Mexican banks or Mexicans from maintaining accounts in banks within the United States.
Such accounts, many of which now exist, will remain entirely unaffected.
This action supersedes the previous Treasury Department ruling which had allowed any person arriving
in the United States from Mexico to bring with him up to $250 in United States currency regardless of the
denomination of the bills imported.
It was pointed out that tourists going from the United States to Mexico would be subject to no incon
venience whatsoever in connection with the new rulings, provided that before departing for Mexico they
converted such funds as they intended taking with them into traveler’s checks, bank drafts, or other credit
instruments or into two-dollar bills or coins.
Treasury spokesmen stated that the two-dollar bill had been eliminated from the restrictions imposed
on the importation and exportation of other United States currency to and from Mexico by reason of the
fact that very few such bills have fallen into Axis hands whereas it is known that large amounts of United
States currency of other denominations have come under the control of the aggressors.
The Treasury also announced that any person leaving the United States going through Mexico en
route to any other country would be allowed to carry United States currency in any denomination having
an aggregate value of $250, plus $250 for each accompanying dependent.

REFERENCE— PUBLIC INTERPRETATION NO. 6
Press Release No. 40. (Press Service No. 33-6).
S e p t e m b e r 1,1942.
The Foreign Funds Control Division reported to the Treasury today it had information indicating
that persons in the United States have been unintentionally violating the freezing regulations by sending
securities, currency, checks, drafts, and promissory notes to persons in Switzerland, Spain, Portugal, Sweden,
and other European countries which are frozen under Executive Order No. 8389.
Public Interpretation No. 6, issued by the Treasury Department on August 31, 1942, makes clear that
the above-mentioned financial instruments may be sent to blocked European neutral countries only pursuant
to a Treasury Department license. Treasury officials stated that as a general policy the Treasury Department
does not issue specific licenses permitting the sending of securities, currency, checks, drafts, or promissory
notes to blocked neutral European countries. Exception may be made in certain cases, however, to permit
the collection of foreign securities and coupons.
It was pointed out that under this interpretation Foreign Funds Control was not stopping all types of
remittances and payments to neutral European countries. Such remittances may be made in certain cases
through established banking channels under appropriate Foreign Funds Control general or specific licenses.
Such licenses, however, require that the payment be effected by means of non-negotiable mail or cable pay
ment orders addressed to a bank in the country in which the payment is to be made.

104

REFERENCE— PUBLIC C IR C U L A R N O . 4 C

Press Release No. 41. (Press Service No. 33-30).
S ep tem b er

17,1942.

The Foreign Funds Control Division of the Treasury Department today announced regulations
requiring a supplemental census of foreign-owned property.
Pursuant to Public Circular No. 4C, issued under the freezing orders on September 14, 1942, the sup
plemental census will be reported on Series L of Form TFR-300 which is now being distributed to the
Federal Reserve Banks. Reports on this series will supply current information concerning the property of
certain groups of persons to supplement the comprehensive survey of foreign-owned property on the previous
series of Form TFR-300, issued last year. In some circumstances persons reporting on Series L will also be
obliged to file reports on one or more of the earlier series, so that complete information will be available
concerning all property reported.
One of the largest groups of persons who must report are nationals of foreign countries entering the
United States at any time after October 31, 1941. Persons who are already in this country must file their
reports on or before October 31, 1942, and those entering hereafter must file within thirty days of their
entry. Reports are also required from persons whose property is blocked under Executive Order No. 8389
by specific direction of the Treasury Department and from anyone who holds property belonging to such a
person. These reports are to be filed whenever blocking directions are issued by the Departmnt.
Persons holding property of any one whose name is on “The Proclaimed List of Certain Blocked
Nationals” must also report on Series L. Reports concerning property of persons whose names are already
on the List must be submitted on or before October 31, 1942, and reports relating to persons whose names
are added in the future must be made within fifteen days from the date the addition is promulgated.
Public Circular No. 4C, which will also be available at the Federal Reserve Banks, contains complete
instructions for preparing reports on Series L. The Federal Reserve Banks will answer any questions con
cerning the reporting requirements.

REFERENCE— PUBLIC CIRCULAR NO. 19; GENERAL RULING NO. II; GENERAL
LICENSES NOS. 4, 5, 11A, 13, 20, 53, 66, 69, AND 77
Press Release No. 42. (Press Service No. 33-37).
S e p t e m b e r 22,1942.
The Treasury Department today issued Public Circular No. 19, revising several of the outstanding
freezing control documents.
The only provisions of the public circular which will have any effect upon present practices of the
public in complying with freezing control are in paragraphs (1), (2), (3), and (4), relating respectively to
amendments to General Licenses Nos. 4, 5, 20, and 53.
Paragraph (1) of the public circular amends General License No. 4 so as to permit over-the-counter
sales of Government securities. Prior provisions of General License No. 4, relating to sales of securities on
national securities exchanges, are not affected by today’s action.
The effect of today’s amendment of General License No. 5 is to require special licenses for the payment
from blocked accounts on monies owing to United States agencies on obligations other than customs duties,
taxes, and fees. Today’s amendment also eliminates the necessity for reporting any payment of less than
$1,000 effected under General License No. 5.
In accordance with the Treasury Department’s policy of eliminating reporting requirements where
study has shown such course of action to be feasible, paragraph (3) of the public circular eliminates the
necessity for reporting payments under General License No. 20 from accounts of American citizens who
are foreign nationals by reason of presence within the Netherlands West Indies.
The only effect of paragraph (4) of the public circular is to include the Faroe Islands and the New
Hebrides Islands within the area in which trade is generally licensed by General License No. 53.
The remaining provisions of Public Circular No. 19 effect formal changes designed to bring the freezing
control documents up to date. They do not change the categories of transactions which may be engaged in
without special license or the procedures under which any transactions may be effected without special
license.
Paragraph (5) revokes General License No. 11A, relating to the payment of living expenses of Japanese
nationals, and General License No. 77, relating to Japanese farmers and food processors. Both of these
licenses were revoked by today’s action because any transactions effected pursuant to their terms may also
be effected either under the provisions of General License No. 11, as affected by Public Circular No. 8A, or
under the provisions of General License No. 68A. The provisions of General License No. 11 and of
General License No. 68A remain unaffected by today’s action.

105

Paragraph (6) makes minor technical changes in two of the definitions appearing in General Ruling
No. 11 expressly including Bulgaria, Hungary, and Rumania in the category of countries upon which the
United States has formally declared war. The changes made do not alter in any particular the effect of
General Ruling No. 11. As heretofore, Bulgaria, Hungary, and Rumania and their nationals are treated
as enemy nationals.
The occupation of Rangoon by the enemy automatically cut off all trade with that area and, under
General Ruling No. 11, transactions involving trade or communication with Rangoon were no longer
licensed under General License No. 13. Paragraph (7) of the public circular merely deletes the word
"Rangoon” from General License No. 13.
Paragraphs (8) and (9) of the circular direct attention to the fact that Public Circular No. 8 amended
General Licenses Nos. 66 and 69 to exclude from their provisions offices of various Japanese banking
institutions.

REFERENCE— GENERAL RULINGS NOS. 5 AND 14
Press Release No. 43. (Press Service No. 33—68).
O c t o b e r 16, 1942.
The Treasury Department today announced that, after October 31, 1942, persons entering the United
States from any place other than Mexico, Great Britain, Bermuda, Canada, and Newfoundland will be
required to turn over to Customs authorities all the currency in their possession in excess of $50.
This ruling supersedes the previous requirement that all currency in excess of $250 be turned over to
the Customs authorities.
The regulations now in effect with respect to currency brought into the United States from Mexico
remain unchanged, and two-dollar bills and subsidiary coins may move freely between the United States
and Mexico.
Treasury officials pointed out that the new ruling constitutes a tightening of the controls aimed at
preventing the disposition in this country of currency looted by the Axis. When the controls, which require
the surrender of imported currency to Customs officials and to Federal Reserve Banks, were inaugurated
last Spring, an exception was made in order to permit legitimate users of dollar currency time enough to
become familiar with the currency regulations. In order to give legitimate users of dollar currency time to
adjust themselves to the $50 limitation, the Treasury Department is giving this advance notice of the ruling.
The Treasury has repeatedly warned persons leaving the United States to carry some means of pay
ment other than United States currency when traveling outside of the United States. Officials said it is
assumed that persons arriving in the United States today are aware of our restrictions on the importation
of currency as all such persons have had ample opportunity to make arrangements for financing them
selves other than by the use of United States currency.
Treasury officials said that persons leaving the United States should not carry with them United States
currency in excess of $50. They declared that not only is it unwise to carry United States currency outside
of the United States because of the restrictions upon its reimportation; it is also imprudent in view of the
fact that, due to this Government’s policy, dollar currency is worth only a fraction of its former value in
Europe and most parts of Central and South America. In fact, they pointed out, regulations adopted in
cooperation with this Government’s currency program make the general use of dollar currency illegal in
most of the other American Republics.
Attention was also called to the fact that in view of these regulations, travelers may find themselves
unable to utilize even the aforementioned $50 amount.
Traveler’s checks, drafts, or telegraphic transfers are the best means of satisfying financial needs while
traveling outside the United States at the present time, officials observed.
It was pointed out that the curtailed use and value of dollar currency abroad has had no effect on the
dollar as an international medium of credit. The restrictions on foreign dealings in dollar notes have in
no way affected the value of dollar drafts, checks, or credits.

REFERENCE— GENERAL RULING NO. 11
Press Release No. 44. (Press Service No. 33-98).
N o v e m b e r 8,1942.
Secretary Morgenthau today announced that all of France within continental Europe was declared
to be “enemy territory” under the restrictions against trade and communication with the enemy.
Under previous regulations “occupied” France was “enemy territory” but “unoccupied" France was
not so designated. Today’s action accords “unoccupied” France within Europe the same status as
“occupied” France and the restrictions under the Trading with the enemy Act now apply equally to both.
The Secretary’s action was taken by the amendment of the definition of “enemy territory” appearing
in General Ruling No. 11 issued under the freezing regulations and the Trading with the enemy Act.

106

REFERENCE— G E N E R A L R U L IN G N O . 15

Press Release No. 45. (Press Service No. 35-25).
F ebruary

4,1943.

The Treasury Department today issued regulations barring all legal and other proceedings which
might interfere with the free and unrestricted use and operation of Mexican railroad equipment within the
United States. This action was taken at the requst of the Government of Mexico, the State Department,
the Board of Economic Warfare, and other interested Government agencies.
The new regulations are intended to remove an important bottleneck in the transportation of mate
rials from Mexico to the United States. At the present time there is a large volume of war materials which
is brought to the Mexican border on Mexican freight cars and there unloaded and reloaded into United
States freight cars. This procedure, officials stated, is both time consuming and wasteful of the nation’s
wartime freight car capacity.
Treasury officials said that this Government has been negotiating with the Government of Mexico
for several months regarding the possibility of materials moving from Mexico to the United States on
Mexican railroad equipment. One of the major stumbling blocks to this important wartime measure,
however, has been the fear that such equipment might be seized by creditors. Unless this factor is elimi
nated, the war effort will be impaired and the entire program of direct shipment will be defeated.
To meet this wartime necessity, the Foreign Funds Control of the Treasury Department, after full
consultation with the State Department, the Board of Economic Warfare and the Mexican authorities,
today issued General Ruling No. 15. Under this Ruling, all Mexican railroad equipment within the
United States is accorded immunity against claimants seeking to attach or otherwise seize such property.
Moreover, under this Ruling no legal, equitable or possessory interest can be obtained in such rolling
stock and equipment by virtue of any judicial process unless a Treasury license is first obtained.
Officials stated that a specific exemption from the immunity granted by this Ruling is made in favor
of service and repair charges and other claims arising out of the operation within the United States of
Mexican railroad property on or after the date of this Ruling.
It was pointed out that since this property would not otherwise be brought into the United States,
the General Ruling works no hardship on American creditors. Also, it was stated by Treasury representa
tives that this Ruling protects only Mexican railroad property, as defined therein, and does not apply to
any other assets.
It is anticipated that this General Ruling will pave the way for immediate and effective cooperation
in getting much needed materials to their ultimate destination with a minimum of delay and wastefulness.
General Ruling No. 15 was issued pursuant to section 5 (b) of the Trading with the enemy Act, as
amended by the First War Powers Act, 1941.

REFERENCE— SPECIAL REGULATION NO. I; PUBLIC CIRCULAR NO. 22
Press Release No. 46. (Press Service No. 36-78).
J u n e 3, 1943.
To give the Government complete and accurate information on American assets in foreign countries,
a census will be conducted on Form TFR-500 with respect to all property in foreign countries in which
any person subject to the jurisdiction of the United States had an interest on May 31, 1943, the Treasury
Department announced today. The information obtained from the census will be of assistance in the
activities of the Foreign Funds Control division of the Treasury Department and in the work of other
divisions involving economic, financial, and commercial relationships with foreign countries and their
nationals. It will also be of aid to other departments and agencies in the performance of their wartime
duties, protecting American interests abroad, and combating the economic strategy of the Axis.
The Government’s need for detailed knowledge of American interests and relationships abroad has
constantly increased since the war began. By means of this census of American property abroad, our
armed forces occupying hitherto dominated Axis territory, and the civil authorities following in their
wake, will be supplied with accurate information both for facilitating the occupation and for protecting
American interests within the area.
Every person subject to the jurisdiction of the United States, including American citizens in foreign
countries, having an interest in any property in a foreign country on May 31, 1943, must file a report on
Form TFR-500. Form TFR-500 and circulars of instruction for preparing reports are now being for
warded to the Federal Reserve Banks, where they will be available to the public. In foreign countries,
where forms and instructions will be distributed to American citizens through United States Consuls, they
will be issued somewhat later. Completed forms must be filed with the Federal Reserve Banks not later
than August 31, 1943, or with Consuls not later than September 30.
The form is issued in three series, each adapted to a particular purpose. Two of the series are also
divided into sub-series for further facility in reporting. Each person obliged to report will therefore be

107

supplied with forms specially adapted to his circumstances for ease in reporting. For example, individuals
will ordinarily be concerned only with Series A -I, a summary report of holdings in all foreign countries,
and Series B, for detailed reports concerning property in each country. To assist persons reporting, and to
assure accuracy and uniformity of the reports received, Public Circular No. 22, containing complete
instructions, has been prepared. For the convenience of individuals with less than $50,000 of foreign assets,
a special abridged circular of instructions is provided.
Citizens of the United States in enemy-occupied territory, and persons in the armed forces of the United
States serving in foreign countries are exempted from filing Form TFR-500. So too is any person whose
property in all foreign countries had an aggregate value less than $10,000. In cases, however, of bond?
payable by their terms in United States dollars, interests in allied foreign organizations, and certain agree
ments and contracts, a report must be filed even though the aggregate value of property interests is less than
$10,000. Notwithstanding the exemptions, any person may, if he so desires, report all of his property in
foreign countries.
The method of determining values for the purpose of the report is set forth in the circular of instruc
tions, and must be followed in all cases.
While the information obtained in this census will be of great importance in the formulation of policies
respecting post-war financial and industrial relationships between this country and foreign nations, the
census is not intended to constitute a registry of claims against enemy countries. Just as the information
gained from the census taken in 1941 on Form TFR-300 is of the highest value to the war effort in giving
the Government accurate and reliable information as to the foreign-owned property in the United States,
so the information to be obtained on Form TFR-500 on American property abroad will enable this country
to act with greater knowledge in all international, economic, and financial affairs.
The agencies of the United States Government particularly interested in the information to be obtained
by the census were extensively consulted concerning the project. Technical aspects of the requirements
were also discussed with representative persons within various groups most vitally interested, with a view of
adapting the requirements to the convenience of the reporters as far as possible.
It should be noted that the reporting requirements apply not only to tangible property situated in
foreign countries but also to all intangible property issued or created by foreign countries or by persons
within such countries as, for example, bonds issued by a foreign government whether or not payable in dol
lars. Currency or coin, financial securities, and negotiable instruments issued or created by the United States
or any agency or person in the United States also come within the scope of the census whenever such prop
erty was situated in a foreign country on the reporting date.
Failure of any person to file a report required of him will subject him to criminal penalties.

REFERENCE— GENERAL RULING NO. 5A
Press Release No. 47. (Press Service No. 37-41).
J u l y 7, 1943.
The Treasury Department today issued regulations prohibiting the exportation of checks, drafts, and
similar negotiable instruments to blocked countries and restricting the importation of, and dealings in,
checks and drafts which have been in such countries.
The regulations, identified as General Ruling No. 5A, prohibit the sending or taking of checks, drafts,
bills of exchange, promissory notes, securities, or currency from the United States to any blocked country,
other than China and the blocked members of the generally licensed trade area, and prohibit, effective
August 25, 1943, the importation of checks, drafts, bills of exchange or promissory notes which have been
within such blocked countries. The importation provisions are implemented by a prohibition on dealings
in financial instruments imported on or after August 25, 1943.
Among the more important blocked countries to which the ruling applies are all enemy and enemyoccupied countries, Portugal, Spain, Sweden, Switzerland, and their territories and possessions, Tangier,
Finland, French North and West Africa, and the French Antilles.
Any such financial instruments which have been within any of the blocked countries affected and which
are imported on or after August 25, 1943, must be turned over to the Federal Reserve Bank of New York as
fiscal agent of the United States. Persons arriving in the United States on or after August 25, 1943, will be
required to report and surrender such instruments to the collector of customs at the port of entry, who will
deliver them to the Federal Reserve Bank of New York. The Treasury has stated that it will not be its policy
to license the exportation or importation of, or dealings in, checks or drafts which are affected by the ruling.
The export restrictions, which are immediately operative, are a continuation and implementation of
existing prohibitions. Attention is directed to the fact that persons departing from the United States are
prohibited, except under specific Treasury authorization, from taking with them any securities, currency,
checks, drafts, or promissory notes which are destined for any blocked country affected by the ruling, and
are required to report the possession of any such instruments or currency to the collector of customs at the

108

port of exit. However, it was stated that any person leaving the United States for any blocked country
affected by the ruling (except countries constituting enemy territory) is authorized to take out currency of an
equivalent of $50 in value and travelers checks issued in his name, and that such items need not be reported
to the collector of customs at the port of exit, unless such items are destined, directly or indirectly, for enemy
territory. At the same time it was pointed out that since there are many restrictions on the use of United
States currency outside the United States, travelers checks, letters of credit, or telegraphic transfers are the
best means of satifying financial needs while traveling abroad.
It is to be noted that the importation prohibitions do not apply to the importation of securities or cur
rency, since such importation is already restricted by General Ruling No. 5.
The ruling does not apply to instruments which have been in blocked countries in the “generally
licensed trade area” as defined in General License No. 53 unless such instruments have been within any of
the blocked countries to which the ruling applies. Remittances to and from these excepted areas are never
theless subject to the provisions of Executive Order No. 8389, as amended. Treasury spokesmen also
observed that the ruling imposes no new restrictions on remittances to and from China, which are already
adequately controlled under existing procedures.
Treasury officials called attention to the fact that the ruling sets forth specific exemptions for certain
categories of checks, drafts, and bills of exchange, unless such instruments are destined for or have been in
enemy territory. There are thus left open certain channels through which travel may be financed and legiti
mate trade and financial transactions effected between countries in this hemisphere and neutral blocked
European countries. The exceptions include non-negotiable bank payment orders; incoming travelers
checks; outgoing travelers checks carried by and issued in the name of persons departing from the United
States for blocked countries; outgoing Treasurer’s checks carried by ana issued in the name of a person in
the service of the United States Government; outgoing currency valued at $50 or less carried for traveling
expenses; incoming drafts or bills of exchange drawn under letters of credit; incoming drafts or bills of
exchange drawn on importers in the Western Hemisphere in connection with the importation of merchan
dise into the Western Hemisphere; and incoming checks, drafts, bills of exchange, or warrants drawn on
the Secretary of State, the Secretray of the Navy, or the Treasurer of the United States. The exceptions, it
was emphasized, do not obviate the necessity of a Treasury license with respect to transactions within the
scope of Executive Order No. 8389, as amended, but merely exempt the instruments referred to from
the special restrictions of the ruling. It was stressed, moreover, that transactions involving trade or com
munication with enemy nationals require a license specifically referring to General Ruling No. 11.

REFERENCE— GENERAL RULING NO. II, AS AMENDED
Press Release No. 48. (Press Service No. 38-27].
S e p t e m b e r 3, 1943.
The Treasury Department today issued a revision of its regulations relating to trade and communica
tion with enemy nationals. The revised regulations are in the form of an amendment to General Ruling
No. 11 and in essence constitute a clarification of the existing regulations.
Under the regulations a special license is required to lawfully engage in any business or commercial
communication or intercourse with an enemy national or to effect any act or transaction involving such
communication or intercourse. Unlicensed trade or communication with an enemy national is unlawful
under Sections 3 (a) and 5 (b) of the Trading with the enemy Act, as amended.
The term “enemy national” includes any person within an enemy country or enemy-occupied territory
and any person whose name appears on The Proclaimed List of Certain Blocked Nationals. The regulations
also include within the category of enemy nationals any other person to the extent that he is acting without
a license for or on behalf of an enemy national who is within an enemy country or whose name appears on
The Proclaimed List. Treasury officials emphasized that subjects of enemy and enemy-occupied countries
who are not within enemy territory are not by reason of their citizenship alone enemy nationals within the
meaning of the regulations. It was also pointed out that the occupying forces of the United Nations and
civilians accompanying them who are within enemy territory in the course of their duties are not enemy
nationals.
The regulations strike at any act or transaction of a financial, business, trade or commercial character
which involves any trade or communication with an enemy national. In substance, the regulations are
directed at all transactions included within the definition of the term “to trade” contained in Section 2
of the Trading with the enemy Act, as amended.
Treasury officials called attention to the fact that the regulations prohibit certain transactions which
are not prohibited by the freezing order. In this connection, Treasury officials stated that a transaction on
behalf of an enemy national who is within an enemy country or whose name appears on The Proclaimed
List which is prohibited by the freezing order may lawfully be effected if licensed under the freezing order,
unless it also involves communication with an enemy national. On the other hand, a transaction which is

109

within the purview only of the regulations or involves communication with an enemy national, may lawfully
be effected only pursuant to a license which specifically refers to General Ruling No. 11.
Treasury officials noted that compliance with the regulations did not dispense with the necessity of
complying with relevant censorship regulations.

REFERENCE— CONSOLIDATION OF GENERAL LICENSES NOS. 13, 14, 18, 19, 21,
22, 40, 43, 62, 66, 69 AND 81
Pres* Release No. 49. (Press Service No. 38-68).
S e p t e m b e r 28, 1943.
The Treasury Department took action today to simplify and consolidate outstanding general licenses
which conferred generally licensed national status upon domestic and foreign offices of certain foreign bank
ing institutions subject to the freezing orders. Today’s action does not change in any material way the
status of such foreign banks under the freezing order.
Twelve former general licenses (Nos. 13, 14, 18, 19, 21, 22, 40, 43, 62, 66, 69, and 81) are now consoli
dated into General Licenses Nos. 13 and 13A. General License No. 13A covers the offices of foreign banks
located in the United States and Hawaii which have generally licensed national status and General License
No. 13 pertains to the foreign offices of such banks.
Treasury Department officials pointed out that under paragraph (3) of General License No. 53, as
amended, a bank within the generally licensed trade area may engage in any transaction for the account
of a blocked national located within such area as if the transaction were solely for the account of such bank,
so long as there is no withdrawal or payment from a blocked account. It was observed that this recent
amendent made possible the simplification of the documents involved.
The Treasury Department also announced that reports relating to American-owned property in
foreign countries on Form TFR-500 which are executed in the United States need no longer be made
under oath.

REFERENCE— GENERAL RULING NO. 17
Press Release No. 50. (Press Service No. 39-3).
O c t o b e r 20, 1943.
The Treasury Department today issued regulations relating to frozen domestic securities accounts of
banks and other financial institutions located in countries blocked under the freezing order. The new
regulations, officially styled General Ruling No. 17, constitute a further measure to prevent Axis nationals
and Axis sympathizers from cloaking their securities holdings and financial transactions in the United
States.
Securities accounts maintained in the United States in the name of foreign financial institutions are
known to contain securities beneficially owned by clients or customers of such institutions. However, such
securities are in no way differentiated from securities owned by the foreign financial institution itself.
If securities held in an account of a foreign financial institution are sold, the proceeds revert to its general
blocked account. However, this may mean that the foreign financial institution will credit the proceeds
in its home office to the account of the beneficial owner of the securities. Such owner might well be an
Axis national who would thus receive the benefits of free foreign exchange. Furthermore, such Axis
national might have acquired his "ownership,” either literally or figuratively, at the point of a gun.
For some time the Treasury has been scrutinizing this situation and its various ramifications. Con
trols have been imposed in specific cases, and today’s ruling formalizes such controls in a general manner.
Under General Ruling No. 17 there may not be any sales or purchases of securities or receipt of income
on securities held in the account of a foreign financial institution within a blocked country unless the
banking institution in the United States which holds the securities has complete information as to the
past and present beneficial ownership of the securities. As an alternative to the obtaining of such informa
tion, the banking institution in the United States may conduct such securities transactions on the basis of
a certification obtained from the foreign financial institution. The terms of the certification are specifically
spelled out in the new regulations. Among other things, they require such foreign institutions to commit
themselves to submit, upon request, full evidence of beneficial ownership of the securities.
In order to avoid creating additional burdens for domestic coupon and dividend paying agents and
to minimize possible losses where neither such information nor certification is available, the regulations
also permit sales of securities and the receipt of dividends and interest thereon, provided the proceeds
are deposited into a specially restricted account called a General Ruling No. 6 account.
The new regulations exempt from their operation every transaction effected under the general licenses
extended to Portugal, Spain, Sweden and Switzerland or tneir central banks. However, it is to be noted
that such general licenses contain restrictive provisions similar to those incorporated into the new regula
tions. Thus, in using their general licenses, these neutral countries commit themselves not to engage in
any transaction involving Axis nationals or Axis interests.

110

REFERENCE— GENERAL LICENSE NO. 32A, CERTAIN REMITTANCES TO SICILY
FOR NECESSARY LIVING EXPENSES
Press Release No. 51. (OWI 2918).
F e b r u a r y 7, 1944.
The Treasury and War Departments today anounced the restoration of facilities for living expense
remittances to Sicily.
General License No. 32A, issued by the Foreign Funds Control of the Treasury Department, specifies
the maximum amounts which may be remitted and the procedures which must be followed. Such
remittances may be effected through any domestic bank and are limited to §100 in any three-month period
to any one household. Somewhat larger remittances are allowed to American citizens in Sicily. It was
stressed, however, that the regulations do not authorize the sending of checks, drafts, securities or cur
rency to Sicily, Persons desiring to effect remittanecs to this area should consult their local banks con
cerning the proper procedures to be followed.
Domestic banks through which remittances to Sicily originate will channel the remittances through
correspondent banks of the Bank of Sicily. It is understood that the Bank of Sicily is establishing
correspondent relationships with certain banks in New York, Boston, San Francisco, New Orleans and
Baltimore. It will be necessary for the correspondent banks in the United States to be furnished with the
name and address of the remitter and of the beneficiary and the amount of each remittance. The
correspondent banks in the United States will forward payment instructions to the Bank of Sicily by mail
at monthly intervals and the Bank of Sicily will make payments in lire to the beneficiaries. At present,
cable facilities to Sicily are not available.
Living expense remittances to other parts of Italy controlled by Allied forces will be allowed as soon
as conditions permit. Attention was directed to the fact that General License No. 88 issued by the
Treasury Department on August 25, 1943 allows the sending of United States postal money orders to
members of the armed forces of the United States through the Army Post Office.

REFERENCE— GENERAL LICENSE NO. 32A, CERTAIN REMITTANCES TO SPECIFIED LIBERATED
AREAS IN SICILY AND ITALY FOR NECESSARY LIVING EXPENSES
Press Release No. 52. (Press Service No. 41-30).
M a r c h 30, 1944.
The Treasury and War Departments today announced that facilities are now available for living
expense remittances to Sardinia and other parts of Italy controlled by the Allied forces. The provinces
in Italy to which remittances may now be effected are: Cosenza, Reggio Calabria, Potenza, Foggia, Bari,
Brindisi, Catanzaro, Matera, Avallino, Taranto, Lecce, Naples, Salerno, and Benevento.
The maximum amounts which may be remitted and the procedures to be followed are prescribed in
the amendment to General License No. 32A issued today by the Treasury. This amendment places into
effect the same procedure as was established with respect to Sicily on February 7, 1944, with the exception
that remittances to the areas today included in the general license will be channeled through correspondent
banks of the Bank of Naples. Persons desiring to effect remittances to Allied controlled Italy should consult
their local banks concerning the proper procedures to be followed.
The Treasury has been advised by the Bank of Naples that it is establishing correspondent relationship
with certain banks in Boston, Chicago, Detroit, New Orleans, New York, Philadelphia, Pittsburgh and
San Francisco. As in the case of remittances to Sicily, it will be necessary for the correspondent banks to
be furnished with the name and address of the remitter and of the beneficiary and the amount of each
remittance. The correspondent banks in the United States will forward payment instructions to the Bank
of Naples by mail at monthly intervals and the Bank of Naples will make payments in lire to the bene
ficiaries. Cable facilities to Italy are not available.
Treasury officials stressed the fact that the regulations do not authorize the sending of checks, drafts,
securities or currency to Italy. Communications relating to financial, commercial or business matters other
than those in connection with living expense remittances continue to be prohibited.

REFERENCE— IMPORT CONTROLS OF ART OBJECTS
Press Release No. 53. (Press Service No. 42-19).
J u n e 8, 1944.

The Treasury Department today announced the issuance of regulations extending import controls to
art objects. The Treasury action was taken in cooperation with the American Commission for the Pro
tection and Salvage of Artistic and Historic Monuments in War Areas, which was created by the President
for the purpose of salvaging and restoring to lawful owners those art objects looted by the Axis powers.

Ill

The newly issued regulations tighten existing controls by requiring a Treasury license for the release
from customs custody of art objects which are worth $5,000 or more, or are of artistic, historic, or scholarly
interest, irrespective of monetary value. It was indicated that licenses for release will not be granted
unless satisfactory evidence is submitted as to the origin and prior ownership of such art objects. Treasury
officials emphasized, however, that the regulations will be carefully administered so as to avoid interference
with routine shipments of art objects made in the ordinary course of trade. It was further pointed out
that the regulations do not apply to art objects imported from the United Kingdom, British Dominions
and Colonies since the British Government has instituted appropriate controls for those territories.

REFERENCE— GENERAL RULING NO. 11
Press Release No. 54. (Press Service No. 42-52).
J u n e 30, 1944.
The Treasury Department today announced that Finland has been declared to be “enemy territory”
under the regulations relating to trade and communication with the enemy, and that, as a result, no busi
ness, financial or commercial communication or transaction with the Finnish Government, its diplomatic
representatives, or persons within Finland may be effected except pursuant to special Treasury license.
The Treasury action was in the form of an amendment to General Ruling No. 11 issued under the
freezing regulations and the Trading with the enemy Act.

REFERENCE— GENERAL LICENSE NO. 32A
Press Release No. 55. (Press Service No. 43-8).
A u g u s t 29, 1944.
The Treasury and War Departments today announced that remittances for living expenses may now
be effected to persons in the City and Province of Rome. At the same time it was announced that facilities
for living expense remittances have also been provided for the recently liberated Italian Provinces of
Littoria, Frosinone and Campobasso. Remittances of this type have previously been authorized for
Sicily, Sardinia, and the Provinces of Cosenza, Reggio Calabria, Potenza, Foggia, Bari, Brindisi, Catanzaro,
Matera, Avallino, Taranto, Lecce, Naples, Salerno and Benevento: It is expected that in the near future
similar facilities will be made available for other portions of liberated Italy.
The maximum amounts which may be remitted and the procedures to be followed are prescribed in
General License No. 32A as amended today by the Treasury. Treasury officials called attention to the
fact that the amount which may be remitted under the General License to any one payee or his household
has been increased to S500.00 per month. Existing procedures have not been changed by today’s amend
ment and the restrictions against withdrawals from blocked accounts are still effective. Remittances to the
new areas added by today’s amendment will be channeled through correspondent banks of the Bank of
Naples. Persons desiring to effect remittances to any area in the liberated portions of Italy should consult
their local banks.
Treasury officials again stressed the fact that the regulations do not authorize the sending of checks,
drafts, securities or currency to Italy. Cable facilities are not available and communications relating to
financial, commercial or business matters other than those in connection with living expense remittances
continue to be prohibited.

REFERENCE— GENERAL LICENSE NO. 32A AND PUBLIC CIRCULAR NO. 25
Press Release No. 56. (Press Service No. 43—76).
O c t o b e r 17, 1944.
The Treasury Department today announced that the restrictions under the Trading with the Enemy
Act against commercial and business communication with liberated Italy have been lifted. This significant
step toward the resumption of normal business relations with Italy is in accordance with the joint state
ment of President Roosevelt and Prime Minister Churchill that the application of the Trading with the
Enemy Act should be modified so as to enable business contacts with Italy to be resumed for the benefit
of the Italian people.
Under Public Circular No. 25, issued by the Treasury today, communications of a business, financial
or commercial nature, which are not actual business or financial transactions, may be transmitted to and
from liberated Italy without Treasury license. For example, banks and other financial institutions may
reply to requests for information from their depositors in liberated Italy without Treasury license; docu
ments such as birth, death and marriage certificates, wills and legal notices may be transmitted. Italian and
United States concerns may exchange business information and correspond with respect to the resumption
of business relationships without obtaining a specific Treasury license. Since trade with Italy is now being
carried on only through governmental agencies, licenses will not be granted for private trade transactions
until arrangements for the resumption of private trade have been made.

112

Treasury officials stated that the freezing regulations remain in effect with respect to Italian property
in the United States, and that Treasury licenses will continue to be required to effect any financial or
property transactions on behalf of or involving persons in Italy. Accordingly, persons desiring to send
powers of attorney, proxies, payment orders and similar documents to Italy should apply to their Federal
Reserve Bank for an appropriate license. It was emphasized that the status of Italian assets in the United
States is not affected by today’s action.
Facilities for sending living expense remittances to liberated Italy have previously been made available
by Treasury General License No. 32A. Treasury officials stated that these facilities remain the same, and
that the sending to Italy of currency, securities, money orders, checks, drafts or other negotiable instruments
is still prohibited.

REFERENCE— CERTAIN H AW AIIA N CURRENCY AND SECURITIES REGULATIONS REVOKEL,
Press Release No. 57. (Press Service No. 43-84).
O c t o b e r 21, 1944.
The Treasury Department today announced the revocation of the Hawaiian currency and securities
regulations. This action brought to an end the financial “scorched earth” program in Hawaii.
The special Hawaiian regulations which were revoked today were designed to prevent the enemy from
making effective use of the financial resources of the Islands in the event of a successful invasion. Under
these regulations, the ordinary United States currency was withdrawn from circulation and a new series with
a distinctive brown seal and the word “Hawaii” overprinted was issued. Securities were required to be
perforated with the letter “ H.” Thus, in the event the Islands were occupied, it would have been difficult
for the enemy to have realized any gain from the easily identifiable currency and securities which were not
destroyed.
The action taken today was in line with the Treasury policy of relaxing wartime controls as soon as
conditions permit. With the danger of invasion definitely removed, the precautionary measures prescribed
by the regulations are no longer necessary and hereafter unperforated securities and ordinary United States
currency may be marketed and circulated in Hawaii. It was emphasized, however, that the revocation of
these regulations will not affect the validity of perforated securities and the special currency issued under
the “scorched earth” program.

REFERENCE— GENERAL RULING NO. II; FRANCE REMOVED FROM CATEGORY OF
"ENEMY TERRITORY"
Press Release No. 58. (Press Service No. 43-92).
N o v e m b e r 4, 1944.
Restrictions on commercial and business communication with liberated France imposed by reason of
the German occupation were lifted today by the Treasury Department.
Treasury licenses no longer are required for concerns in the United States and liberated France to
exchange financial and commercial information and establish business contacts. Creditors may get in touch
with their debtors in France. Banks, brokerage houses, and other financial institutions may advise their
customers and depositors in France of the status of their accounts. Bank statements, financial records, and
commercial reports may freely be furnished. Wills, legal notices, and birth, death, and marriage certificates
may be transmitted. Proxies may be solicited and signature cards may be obtained. Correspondent rela
tions between banks in the United States and banks in France may be established.
In addition, support remittances may be sent to France under General Licenses Nos. 32 and 33 as soon
as banks in this country are able to make the necessary arrangements with French banks. These general
licenses permit a maximum of $500 per month to be sent to individuals in France through banking channels.
Currency, money orders, checks or drafts cannot be used for this purpose since their transmission continues
to be prohibited.
With the exception of instructions relating to support remittances, business communications between
the United States and France will be restricted for the time being to the ascertainment of facts and the
exchange of information. Accordingly Treasury licenses will not be granted for the present for the sending
to France of powers of attorney, executed proxies, payment instructions and other communications which
are transactional in nature. It is understood that similar restrictions will remain in effect in France and
the United Kingdom.
Today’s action by the Treasury was in the form of an amendment to General Ruling No. 11 removing
the liberated areas of France from the category of “enemy territory.” French areas still under the control
of the enemy will continue to be “enemy territory” and will remain subject to the restrictions contained
in the General Ruling.

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REFERENCE— G E N E R A L LIC E N SE N O . 32A

Press Release No. 59. (Press Service No. 44-14).
N

ovem ber

24, 1944.

The Treasury and War Departments today announced that support remittances may now be sent to
the recently liberated Italian provinces of Viterbo, Terni, Teramo, Rieti, Pescara, Macerata, Grosseto,
Chieti, Aquila, and Ascoli-Piceno. Remittances of this type have previously been authorized for other
liberated provinces of Italy as well as Sicily and Sardinia.
The amount which may be remitted and the procedures to be followed are prescribed in General
License No. 32A as amended today by the Treasury. Under this General License a maximum of $500 per
month may be sent to any person in the designated provinces for his support and that of his family. Existing
procedures have not been changed by today’s amendment and the restrictions against withdrawals from
blocked accounts are still effective. Remittances to the areas added by today’s amendment will be channeled
through the Bank of Italy. Persons desiring to effect remittances to any area in the liberated portions of
Italy should consult their local banks.
The Treasury has been advised that the Bank of Italy is establishing correspondent relationship with
certain banks in Baltimore, Boston, Chicago, Cleveland, Detroit, Milwaukee, Newark, New Haven, New
Orleans, New York, Pittsburgh, Providence, San Francisco, St. Louis, and Washington. The correspondent
banks will forward payment instructions to the Bank of Italy, and the Bank of Italy will make payments
in lire to the beneficiaries.
Treasury officials again emphasized the fact that the regulations do not authorize the sending of checks,
drafts, securities, or currency to Italy.

REFERENCE— GENERAL RULING NO. 14
Press Release No. 60. (Press Service No. 44—58).
J a n u a r y 3, 1945.

The Treasury Department today announced the relaxation of its restrictions on the movement of
United States currency between Mexico and this country. Hereafter, persons crossing the Mexican border
will be permitted to carry United States currency in bills of denominations of $20 or less.
This action was taken after consultation with the Mexican Government, which is issuing a similar
announcement.
Mexican controls over the importation of currency from countries other than the United States will be
relied upon to prevent Mexico from becoming a channel for the disposition of looted United States cur
rency. The joint Mexican-United States restrictions on the movement of currency between the United States
and Mexico continue to apply to bills of denominations of $50 or higher. Treasury restrictions on the
importation of currency into the United States from foreign countries other than Mexico remain unchanged.
This modification is in line with the policy of the Treasury Department to relax its wartime restric
tions over international financial transactions as rapidly as conditions permit.

REFERENCE— GENERAL RULING NO. II; BELGIUM REMOVED FROM CATEGORY OF
"ENEMY TERRITORY"
Press Release No. 61. (Press Service No. 44-93).
F e b r u a r y 2, 1945.
The three year blackout on business and commercial communications with Belgium was lifted today
by the Treasury Department. This action coincided with the restoration of closed letter service with
liberated Belgium and is a further step in the resumption of normal relations with the liberated areas
of Europe.
As in the case of France, Treasury licenses no longer are required to exchange financial and commercial
information with persons in liberated Belgium. Concerns in Belgium and the United States may resume
business contacts and negotiate for the commencement of private trade. Creditors may communicate with
their debtors in Belgium to pave the way for obtaining payment orders or documents to substantiate their
claims. Banks, brokerage houses, and other financial institutions may advise their customers of the status
of their accounts. Bank statements, financial records, commercial reports, wills, and death, birth and
marriage certificates may be transmitted. Proxies may be solicited and signature cards may be obtained.
As soon as banks in this country are able to establish the necessary arrangements with Belgian banks,
support remittances up to $500 per month to individuals in Belgium may be made through banking
channels under General Licenses Nos. 32 and 33. Currency, money orders, checks or drafts cannot be used
for this purpose, since their transmission continues to be prohibited.

114

Treasury licenses will still be required to send to Belgium communications constituting or containing
instructions or authorizations to effect financial or property transactions. For the present, the Treasury
Department will not in general authorize the transmission of transactional communications, except those
relating to support remittances or the protection, maintenance and management of property interests in
Belgium.
Today’s action was in the form of an amendment to General Ruling No. 11 removing Belgium from
the category of “enemy territory.” Belgian areas still under the control of the enemy will continue to be
regarded as "enemy territory” and will remain subject to the restrictions contained in the General Ruling.
The action taken today does not affect the status of Belgian assets in this country. For the present, tele
communication service with Belgium is not available to private persons.

REFERENCE— GENERAL LICENSE NO. 32A
Press Release No. 62. (Press Service No. 44-94).
F e b r u a r y 2, 1945.
The Treasury and War Departments today announced that support remittances may now be sent to
the recently liberated Italian provinces of Ancona, Arezzo, Livorno, Perugia and Siena, to the cities of
Florence and Pisa, and to those portions of the provinces of Florence and Pisa south of the Arno River.
Remittances of this type have previously been authorized for other liberated provinces of Italy as well as
Sicily and Sardinia.
The amount which may be remitted and the procedures to be followed are prescribed in General
License No. 32A as amended today by the Treasury. Under this General License a maximum of $500 per
month may be sent to any person in the designated provinces for his support and that of his family. Existing
procedures have not been changed by today’s amendment and the restrictions against withdrawals from
blocked accounts are still effective. Remittances to the areas added by today’s amendment will be channeled
through the Bank of Italy. Persons desiring to effect remittances to any area in the liberated portions of
Italy should consult their local banks.

REFERENCE— GENERAL RULING NO. 11; FINLAND, POLAND AND OTHER BALTIC AREAS
REMOVED FROM CATEGORY OF "ENEMY TERRITORY"
Press Release No. 63. (Press Service No. 45—14).
F e b r u a r y 16, 1945.
The blackout on commercial and business communications with Finland, Poland and other Baltic areas
which are no longer under German domination, was lifted today by the Treasury Department. This action
coincided with the restoration of postal service with these areas; however, telecommunications with these
areas are not permitted at this time. Treasury licenses will still be required to send to these areas commu
nications constituting or containing instructions or authorizations to effect financial or property transactions.
Today’s action took the form of an amendment to General Ruling No. 11, removing the liberated areas
concerned from the category of “enemy territory.” German territories and other areas still under the
control of the enemy will continue to be “enemy territory” and will remain subject to the restrictions con
tained in the General Ruling. Treasury officials stated that the resumption of communications with other
recently liberated areas is now under consideration and that further announcements will be made later.

REFERENCE— GENERAL RULING NO. II; GREECE REMOVED FROM CATEGORY OF
"ENEMY TERRITORY"
Press Release No. 64. (Press Service No. 45-36).
M a r c h 6, 1945.
The Treasury Department today announced the relaxation of its restrictions on commercial and busi
ness communications with Greece. This action coincided with the restoration of postal and telecommunica
tion service with Greece.
Hereafter, Treasury licenses will no longer be required for concerns in the United States and Greece
to exchange financial and commercial information and to establish business contacts.
In addition, as soon as the necessary banking arrangements can be made, support remittances not
exceeding $500 per month for individual beneficiaries may be sent to Greece under General Licenses Nos.
32 and 33. Currency, money orders, checks or drafts cannot be used for this purpose since their trans
mission continues to be prohibited. Treasury licenses will still be required to send to Greece communica
tions constituting or containing instructions or authorizations to effect financial or property transactions.

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Today’s action by the Treasury was in the form of an amendment to General Ruling No. 11 removing
Greece from the category of “enemy territory.” This action does not affect the status of Greek assets in the
United States. Treasury officials indicated that the resumption of communications with other Balkan areas
is now under consideration.

REFERENCE— PAYMENTS FROM BLOCKED ACCOUNTS
Press Release No. 65. (Press Service No. 45-57).
M a r c h 26, 1945.
The Treasury Department announced today that it is prepared, in appropriate cases, to grant licenses
for payments from blocked accounts in this country to creditors of business organizations and individuals
in France, Belgium, and other liberated countries of Europe with which postal communication has been
restored.
It was stated that, in general, an application for such a license should be supported by a payment
instruction or other acknowledgment by the debtor executed after the date when the restrictions of
General Ruling No. 11 were completely lifted on communications with the country where the debtor is
located. If an application is based on a court judgment evidence should be submitted that the debtor has
received actual notice of the proceedings and has had a reasonable opportunity to appear.
Today’s announcement does not apply to claims on persons in any country against which the United
States has declared war.

REFERENCE— PUBLIC CIRCULAR NO. 25; GENERAL RULING NO. 11
Press Release No. 66. (Press Service No. 45—66).
M a r c h 30, 1945.
The Treasury Department announced today the relaxation of its restrictions on commercial and
business communications with Bulgaria and Rumania. This action coincided with the restoration of postal
service with these countries. Telecommunication service with Bulgaria has also been restored, but tele
communications with Rumania are not permitted at this time.
Hereafter communications of a business, financial or commercial nature which are limited to the
ascertainment of facts and exchange of information may be transmitted to and from Bulgaria and Rumania
without Treasury license. Accordingly, banks and other financial institutions may reply to requests for
information from their customers; and documents such as birth, death and marriage certificates, wills,
commercial reports, and financial statements may be forwarded and solicited.
Bulgarian and Rumanian assets in this country remain immobilized under the freezing regulations
and Treasury licenses will continue to be required to effect any financial or property transactions on behalf
of or involving persons in these countries. Communications which constitute or contain instructions or
authorizations to effect financial or property transactions may not be sent to Bulgaria and Rumania except
under Treasury' licenses. Treasury officials called attention to General License No. 89 which authorizes
the transmission of powers of attorney relating to administration proceedings in Bulgaria and Rumania
and covering the maintenance, preservation, supervision or management of real estate and tangible
personal property.
No facilities are available as yet for sending living expense remittances to Bulgaria or Rumania. The
transmission of currency, securities, money orders, checks, drafts, or other financial instruments continues
to be prohibited. Although concerns in the United States may correspond with firms in Bulgaria and
Rumania with respect to the resumption of business relationships, private trade transactions will not be
licensed until arrangements for the resumption of private trade have been made.
Today’s action was in the form of an amendment to Public Circular No. 25 exempting communica
tions with Bulgaria and Rumania and acts and transactions involving such communications from the
provisions of General Ruling No. 11. However, the status of Bulgaria and Rumania as “enemy territory”
is unchanged.

REFERENCE— GENERAL RULING NO. II; LUXEMBOURG REMOVED FROM
CATEGORY OF "ENEMY TERRITORY"
Press Release No. 67. (Press Service No. 45-74).
A p r il 10, 1945.
The restrictions imposed by General Ruling No. 11 on commercial and business communication with
Luxembourg were lifted today by the Treasury Department. This action coincided with the restoration
of postal service with Luxembourg; however, telecommunications are not yet available.

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Treasury licenses no longer are required for concerns in the United States and Luxembourg to ex
change financial and commercial information and to establish business contacts. Banks, brokerage houses,
and other financial institutions may advise their customers of the status of their accounts, and bank state
ments, financial records, and commercial reports may freely be solicited or furnished. Proxies may be
solicited and signature cards obtained.
Communications to Luxembourg which constitute or contain authorizations or instructions to effect
financial and property transactions will continue to require Treasury license. Treasury officials called
attention to General License No. 89, which authorizes the transmission of powers of attorney relating to
estate proceedings and the maintenance, preservation, and management of real estate and tangible personal
property.
As soon as the necessary banking arrangements can be made, support remittances up to $500 per month
may be sent to individuals in Luxembourg under General Licenses Nos. 32 and 33. The remittances must
be effected through banking channels, and currency, money orders, checks or drafts cannot be used for this
purpose since their transmission continues to be prohibited.
The Treasury Department is prepared, in appropriate cases, to license withdrawals from blocked
accounts in this country of Luxembourg nationals to pay claims against persons in Luxembourg. In
general an application should be supported by a payment instruction or other acknowledgment by the
debtor executed after April 10, 1945. If an application is based on a court judgment, evidence should be
submitted that the debtor has received actual notice of the proceedings and has had a reasonable oppor
tunity to appear.
Today’s action by the Treasury was in the form of an amendment to General Ruling No. 11 removing
Luxembourg from the category of “enemy territory.” This action does not affect the status of Luxembourg
assets in the United States.

REFERENCE— GENERAL LICENSE NO. 90
Press Release No. 68. (Press Service No. 45-80).
A p r il 14, 1945.
A general license relating to trade and other current transactions with France, including her colonies,
was issued today by the Treasury Department. This license is the first of its kind issued with respect to
any liberated country and is a major development in the Treasury’s program of lifting the freezing restric
tions as rapidly as conditions permit.
Under General License No. 90, trade between France and the United States or the generally licensed
trade area may be carried on through normal banking and commercial channels without obtaining specific
Foreign Funds Control licenses. Accordingly, shipping, title and other documents incident to trade with
France may now freely be transmitted. The license provides, however, that payment for goods exported
from France may be made only by depositing the dollar amount in an American banking institution to
the credit of the consignor or a bank in France, or by the purchase of francs from a licensed exchange dealer.
Dollars accruing in French accounts maintained with domestic banks from French exports may in turn
be used to finance payments in the United States or to effect remittances from France to the United States.
They may also be transferred from the account of one French bank to the account of another. Balances
which have accrued since November 4, 1944 from remittances to France may likewise be freely used for
these purposes.
In addition, the general license permits the collection for French account of certain types of financial
instruments, and provides that the proceeds of these collections may be utilized in the same manner as the
proceeds of exports from France.
It was pointed out that French assets in this country continue to be blocked and that only the balances
specified in the general license may be utilized for trade transactions and other current payments. With
drawals from other French balances may only be made pursuant to appropriate license. It was also empha
sized that the license does not authorize any transactions on behalf of nationals of blocked countries who
are not within France or the generally licensed trade area.

REFERENCE— GENERAL LICENSE NO. 91
Press Release No. 69. (Press Service No. 46-11).
M a y 15, 1945.
The Treasury Department today issued General License No. 91, covering trade and other current
transactions with Belgium. This license is a further step in the Treasury’s program for removing the
freezing restrictions on liberated countries. A similar license for France was recently announced.
Dollar balances acquired by Belgian banking institutions since February 2, 1945 as a result of remit
tances from persons in the United States may now be freely used to make payments in this country on

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behalf of Belgian nationals. The proceeds of trade and certain other current accruals will also be available
for such payments. Funds accumulating under the license in the account of a bank in Belgium may be
transferred to other Belgian banks.
When shipping and other conditions permit, it will be possible under the license to carry on private
trade with Belgium without specific Foreign Funds Control licenses. The transmittal of shipping, title,
and other trade documents will not be subject to Treasury restrictions. Payment for goods exported from
Belgium may be effected, however, only by the payment of dollars into a blocked account of the consignor
or a banking institution in Belgium or by buying Belgian francs from a licensed exchange dealer.
Belgian property in the United States remains blocked and only the balances specified in the general
license may be utilized for current payments. Other Belgian balances may not be withdrawn without
appropriate license.

REFERENCE— GENERAL RULING NO. 18
Press Release No. 70. (Press Service No. 46-30).
M

25, 1945.

Regulations reestablishing the freezing controls in the liberated portions of the Philippine Islands
were issued today by the Treasury Department. The regulations also provide for the relaxation of the
controls in this country over Philippine assets which were imposed by reason of the Japanese occupation
of the Islands.
The freezing controls in the Philippine Islands were withdrawn during the early days of the Japanese
invasion by the issuance of Executive Order No. 8998 and Public Circular No. 11. At the same time all
Philippine assets in this country were frozen and the Philippine Islands were declared to be a blocked
country under the freezing regulations. By the provisions of General Ruling No. 18, issued today, the
liberated portions of the Islands no longer are regarded as blocked areas and are again treated as part of
the United States for the purposes of freezing control. Consequently, the freezing regulations are now in
effect in the liberated portions of the Philippine Islands, and Treasury licenses must be obtained to engage
in transactions in the Islands which involve nationals of blocked countries. The freezing regulations will
be administered in the Islands by the Philippine Office of Foreign Funds Control which is now being
established in Manila.
Under today’s regulations, persons in the Philippines who prior to the Japanese occupation were not
blocked will be enabled to deal freely in any of their assets located in the liberated portions of the Islands.
However, as a protective measure, their assets held outside of the Islands will remain blocked for the time
being and may not be dealt with except pursuant to Treasury license. This limitation will not apply to
assets acquired subsequent to the issuance of the regulations. There are no restrictions on the manner in
which funds may be remitted to them, and currency or checks may be used for this purpose. As long as
their blocked funds in this country are not involved, they are entitled to the same rights and privileges as
United States citizens generally and may freely deal with persons in any part of the United States.
One important feature of the reestablishment of the freezing controls in the liberated portions of the
Philippine Islands is a provision prohibiting the exportation from those areas to any other part of the
United States or to any foreign country of gold, silver, currency, financial instruments, powers of attorney
and certain other instruments, except under express authorization from the Treasury. This provision will
afford an opportunity for screening such instruments before they leave the Islands to guard against the
completion of transactions effected under duress or which may otherwise have been of benefit to the enemy.
It was emphasized that licenses will be issued covering legitimate trade, business and other transactions
and every effort will be made to cause the least possible interference with normal financial dealings between
the Islands and the mainland.
In conjunction with the reinstatement of the freezing controls in the Philippine Islands, the Treasury
Department revoked General Ruling No. 10A, thus lifting the moratorium on the enforcement of claims
against Philippine companies which had been in effect since August 12, 1942.
It was emphasized that the recent moratorium declared by President Osmena is not affected by this
revocation.

REFERENCE— GENERAL RULING NO. 11
Press Release No. 71. (Press Service No. 46-33).
M

29, 1945.

The Treasury Department today amended its trading with the enemy regulations by removing from
the category of “enemy territory” the following countries: Albania, Austria, Czechoslovakia, Danzig, Den
mark, the Netherlands, Norway and Yugoslavia.

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Today’s action, constituting an amendment of General Ruling No. 11, paves the way for the orderly
resumption of commercial communications with the liberated areas. Treasury licenses will not be needed
for the transmission of messages of a financial, commercial, or business character which are limited to the
ascertainment of facts and exchange of information. However, communications which constitute or contain
instructions or authorizations to effect financial or property transactions will continue to require Treasury
license. Attention was directed to General Licenses Nos. 72A and 89, which authorize certain transactional
communications relating to patents and the protection and management of property located within foreign
countries.
It was stated that remittance facilities to many of the areas are not yet available. When these facilities
are established, General Licenses Nos. 32 and 33 will permit the sending of support remittances up to $500
a month through banking channels. Under Public Circular No. 28, which was also issued today, these
general licenses will not apply to Austria, however. The restrictions on the use of currency, money orders,
checks and drafts for remittances still remain in effect for all the liberated areas.
Treasury officials emphasized that communication services with a number of the liberated countries
have not actually been reopened. As soon as arrangements for transmitting transactional communications
are established with any country affected by today’s action, the Treasury Department will be prepared, in
appropriate cases, to license withdrawals from blocked accounts in the United States to pay claims against
persons in the country involved. In general, an application for such a license should be supported by a
payment instruction or other acknowledgment by the debtor executed after May 29, 1945. If an application
is based on a court judgment, evidence should be submitted that the debtor has received actual notice of
the proceedings and has had a reasonable opportunity to appear.

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U. S. GOVERNMENT PRINTING OFFICE: IMS—637816

Full text of Federal Reserve Bank of New York Circulars : 2997. Documents Pertaining to Foreign Funds Control

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