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FEDERAL RESERVE BANK OF DALLAS F IS C A L . A G E N T O F T H E U N IT E D S T A T E S Dallas, Texas, March 14, 1942 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following public circular and a press statement relative thereto: “ PUBLIC CIRCULAR NO. 17 UNDER EXECUTIVE ORDER NO. 8889 of April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* (1) General License No. 13 is hereby amended as follows: (a) By deleting the word ‘Java’ from subdivisions (a) and (b) of paragraph (1) thereof; and (b) By deleting subdivisions (c) and (d) from paragraph (1) thereof. (2) General License No. 15 is hereby amended as follows: (a) By deleting the words ‘between the United States and the Netherlands East Indies and’ from paragraph (1) thereof; and (b) By deleting the words ‘such areas’ from subdivisions (a) and (b) of paragraph (1) thereof and substituting therefor the words ‘the Netherlands West Indies.’ (3) General License No. 20 is hereby amended by deleting the words ‘the Netherlands East Indies or’ from the first paragraph thereof. (4) General License No. 21 is hereby amended by deleting the words ‘the Netherlands East Indies or’ from paragraph (1) thereof. (5) For the purpose of administering the Order and complying with the provisions thereof, the Netherlands East Indies shall continue to be regarded as a part of the Netherlands and not as a part of the territory of any other blocked country. (6) Attention is directed to the fact that, by reason of temporary control and occupation by the military, naval and police forces and other authority of Japan, the Netherlands East Indies is no longer included within the generally licensed trade area as defined in General License No. 53. General License No. 53 is hereby amended by deleting the words ‘the Netherlands East Indies’ from subdivision (a) of Paragraph (3) thereof. E. H. FOLEY, JR. Acting Secretary of the Treasury” March 13, 1942 *Part 131— Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1 ; 54 Stat. 179; Public No. 354, 77th Congress; Ex. Order 8389, April 10, 1940, as amended by E x. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, December 9, 1941, and E x. Order 8998, December 26, 1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. PRESS STATEMENT “ 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 has authorized transactions by, or on behalf of, persons in the Netherlands East Indies. This devel opment further implements the Treasury Department’s program of preventing the liquidation in the United States of the assets of invaded countries and is in line with the policy regularly followed with respect to territories temporarily falling under enemy domination. “ Official spokesmen noted that the Netherlands East Indies will continue to be regarded as a part of the Netherlands, frozen by Executive Order of May 10, 1940. E. H. FOLEY, JR. Acting Secretary of the Treasury” Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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