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federal

reserve

bank

OF DALLAS

Dallas, Texas, October 10,1941

To AH Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:
The Secretary of the Treasury has issued the following general license:
“ GENERAL LICENSE NO. 74, UNDER EXECUTIVE ORDER NO. 8389 of April 10, 1940, as
fe n d e d , and Regulations issued pursuant thereto, relating to transactions in foreign exchange,
etc.*
(1) A general license is hereby granted authorizing payments and transfers of credit from
blocked accounts in domestic banks for the necessary personal expenses within the United States
°± any citizen of the United States who is within any foreign country, and for the personal expenses
jyithin the United States of the family of such citizen, provided that the following terms and conditlons 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.
(2) This general license shall not be deemed to authorize any payment or transfer of credit
which could not be effected without a license if such citizen were a generally licensed national.
„
(3) Domestic banks making any such payment or transfer shall satisfy themselves that the
Iore§'oing terms and conditions are complied with and shall file promptly with the appropriate Fed®.ral Reserve bank separate monthly reports in triplicate on Form TFR-111 respecting the transac­
t s for the account of each such citizen.
E. H. FOLEY, JR.
Acting Secretary of the Treasury”
October 9,1941
131— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Ex. Order 8389, April 10, 1940, as amended
i L i X- 0rder 8785, June 14, 1941, and Ex. Order 8832, July 26, 1941; Regulations, April 10, 1940, as amended June 14,
y41» and July 26, 1941.

Yours very truly,

R. R. GILBERT
President

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