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F E D E R A L R E S E R V E BANK
O F N E W YORK
Fiscal Agent of the United States

r Circular No. 2 6 1 2 1
L
April 20, 1943
J

Documents Pertaining to
Foreign Funds Control

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

We enclose a revision, dated March 30, 1943, of the United States
Treasury Department publication entitled ''Documents Pertaining to
Foreign Funds Control".

Additional copies will be furnished upon

request.




A L L A N SPROUL,

President.




U N IT E D STATES T R E A S U R Y D EPAR TM ENT

WASHINGTON s MARCH 30, 1943

Documents Pertaining to
Foreign Funds Control

Executive Orders and Regulations Relating to Transactions in Foreign
Exchange and Foreign-Owned Property, the Reporting of All
Foreign-Owned Property, and Related Matters;
General Rulings, General Licenses, and Public Circulars under Such
Orders and Regulations;
Presidential Proclamation Authorizing a Proclaimed List of Certain
Blocked Nationals and Regulations Relating Thereto;
Certain Sections of the Trading with the Enemy Act, Presidential
General License under Section 3 (a) Thereof, and Executive
Order Establishing the Office of Alien Property Custodian;
and
Certain Public Interpretations and 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, and General Rulings, General Licenses and Public Circulars issued by
the Secretary of the Treasury under said Order and Regulations, as amended,
which had not expired or been revoked as of March 30,1943, also the Presidential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, except that Public Circulars
Nos. 4, 4A, 4B and 4C are referred to but not reproduced. In the interests of
brevity, the formal headings of the General Rulings, General Licenses and Pub­
lic Circulars as issued by the Secretary of the Treasury and their designations
as parts of the Code of Federal Regulations have been omitted. The catch line
inserted immediately preceding each General Ruling, General License and Pub­
lic 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 pro­
vision thereof. Official copies of the documents reproduced herein 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 March 30, 1943, and for revocations
of or amendments to those printed herein.
Certain sections of the Trading with the Enemy Act, the Presidential general
license issued under Section 3 (a) thereof and Executive Order No. 9095, as
amended July 6, 1942, establishing the office of Alien Property Custodian, are
also here reproduced.
In addition to the above mentioned documents, certain pertinent Treasury
Department Press Releases and Public Interpretations are included.
Additional copies of this publication may be procured from the Treasury
Department, Washington, 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 prohibit­
ing any transaction thereunder which directly or indirectly involves any trade
or communication with an enemy national as therein defined.

CONTENTS
E xecutive Orders:
Pape
No. 8389, April 10, 1940............................................................................................................................
No. 8785, June 14, 1941.............................................................................................................................
No. 8832, July 26, 1941, reference to_________________________________________________________
No. 8963, December 9, 1941, reference to____ - ________________________ ______ . . . _____________
No. 8998, December 26, 1941, reference to-------------------------------------------------------------------------------R egulations:
Approved June 14, 1941_____________________________________________________________________
Approved July 26, 1941--------------------------------------------------------------------------------------------------------P roclamation:
Issued July 17, 1941________________________________________________________________________
T reasury D ecisions:
(T. D. 50433) Regulations— Restricted Exportations and Importations__________________________
(T. D. 50530) Restricted Exportations and Importations— Procedure____________________________
G eneral R ulings:
No. 1. Term “ Denmark” not applicable to Iceland____________________________________________
No. 2. Transfer of stock certificates and custody of securities___________________________________
No. 3. Transactions regarding securities registered or inscribed in name of a designated foreign
country or national thereof________________________________________________________________
No. 4. Definitions and rules of interpretation used in ridings, licenses, instructions, etc____________
No. 5. Control of imported securities_________________________________________________________
No. 6. Delivery of imported securities by Federal Reserve Banks to General Ruling No. 6 accounts
in domestic books________________________ ______. ____________________________ ____________
No. 6A. Control of certain imported currency_________________________________________________
No. 7. Securities coming from the Philippine Islands and tho Panama Canal Zone-----------------------No. 8. Certain payments to designated foreign countries and nationals thereof___________________
No. 9. General License No. 52 inapplicable to persons within Tangiers_________ . _______________
No. 10. Control of Philippine paper currency and securities_____________________________________
No. 10A. Moratorium on obligation of Philippine companies___________________________________
No. 11. Transactions involving trade or communication with enemy nationals___________________
No. 12. Transfers of property in a blocked account effected without a license—litigation involving
blocked property_________________________________________________________________________
No. 12A. Certain transfers of property in a blocked account not deemed to be null and void, or
unenforceable, under General Ruling No. 12-------------------------------------------------------------------------No. 13. Procedure regarding applications for unblocking of certain accounts and other property----No. 14. Transmitting of United States currency to Mexico prohibited------ ----------------------------------No. 15. Transactions involving Mexican railroad property______________________________________
G eneral L icenses:
No. 1. Payments to blocked accounts in domestic banks_______________________________________
No. 1A. Transfers of securities to blocked accounts in domestic banks----------------------------------------No. 2. Entries in certain accounts for normal service charges-..-----------------------------------------------No. 3. (Revoked)___________________________________________________________________________
No. 4. Sale of certain securities______________________________________________________________
No. 5. Payments to the United States, states and political subdivisions--------------------------------- -—
No. 6. (Revoked)___________________________________________________________________________
No. 7. (Revoked)___________ . . . . ___. . . _____________________________________________________
No. 8. (Revoked)________. . . . . . ___. . . . . . . . ________________________________________________
No. 9. (Revoked).....................................................................................................................................
No. 10. (Revoked)_________________________________________________________________________
No. 11. Payments for living, traveling and similar personal expenses in the United States------------No. 11A. (Revoked)________________________________________________________________________
No. 12. Access to safe deposit boxes__________________________________________________________
No. 13. Certain offices of certain Netherlands banks—generally licensed nationals-----------------------No. 14. Certain offices of certain banks in Netherlands West Indies—generally licensed nationals-..
No. 15. Transactions incident to trade between the United States and the Netherlands West Indies.
No. 16. (Revoked)_________________________________________________________________________
No. 17. (Revoked)_________________________________________________________________________
No. 18. New York Office of French American Banking Corporation—a generally licensed national..
No. 19. Certain South American, West Indian and Near Eastern offices of certain Netherlands
banks—generally licensed nationals_________________________________________________________
No. 20. Payments from accounts of United States citizens domiciled or residing in Netherlands
West Indies_______________________________. . . . . . . . . . . . . . . ------------ -—- —. . . . . . . . . --------- -




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CONTENTS— (Continued)
G eneral L icenses—Continued
Page
No. 21. Netherlands Trading Society East, Ltd., and Netherlands Trading Society East, Inc.—
generally licensed nationals------------------------------------------------------------------------------------------------No. 22. London and New York offices of Banque Beige pour l’Etranger (Overseas), Limited—
generally licensed nationals-------------------------------------------------------------------------------------------------No. 23. (Revoked)......................................................................................................................................
No. 24. (Revoked)...................................................................................... - ...................- .........- .............
No. 25. Effect of attachment of Form TFEL-2 to securities------------------------------------------------------No. 26. Transaction in certain American Depositary Receipts and American Shares--------------------No. 27. Payments of dividends and interest on, and redemption and collection of, securities_______
No. 28. Individuals who are citizens of, and residing only in, United States—generally licensed
nationals_________________________________________________________________________________
No. 29. Application of certain general licenses to General Ruling No. 6 accounts_________________
No. 30. Payments from, and transactions in the administration of, certain trusts________________
No. 30A. Transactions incident to the administration of certain decedents’ estates-----------------------No. 31, Collection of coupons from certain securities bearing stamps of designated foreign countries.
No. 32. Certain remittances for necessary living expenses---------------------------------------------------------No. 33. Certain remittances to United States citizens in foreign countries________________________
No. 34. Extension of certain general licenses to any blocked country____________________________
No. 35. (Revoked)__________________________________________________________________________
No. 36. (Expired)_____________________ '-------------------------------------------------------------------------------No. 37. Payments from accounts of United States citizens in employ of United States in foreign coun­
tries___ _________________________________ . _________ —---- ------------------------------------------------No. 38. (Expired).......................................................................................................................................
No. 39. (Expired)_____ . . . _________________________________________________________________
No. 40. New York offices of certain Greek controlled banks—generally licensed nationals--------------No. 41. (Expired)___________________________________________________________________________
No. 42. Certain individuals residing in United States on February 23, 1942, and certain corporations
and other organizations—generally licensed nationals. Filing of reports on Form TFR-42______
No. 42A. (Revoked)________________________________________________________________________
No. 43. New York offices of certain Swiss banking institutions—generally licensed nationals_______
No. 44. Roman Curia—generally licensed national_____________________________________________
No. 45. (Revoked)..___________________________________________________________ ____________
No. 46. (Expired)___________________________________________________________________________
No. 47. (Revoked)__________________________________________________________________________
No. 47A. (Revoked)______________________________________________________________________ _
No. 48. (Expired)__________________________________________________________________________ _
No. 49. Transactions on behalf of, or involving property of, Sweden and its nationals------------------No. 50. Transactions on behalf of Switzerland or the Banque Nationale Suisse___________________
No. 51. Union of Soviet Socialist Republics—generally licensed country-------------------------------------No. 52. Transactions on behalf of, or involving property of, Spain and its nationals--------------------No. 53. Transactions incident to trade with members of “ The Generally Licensed Trade Area” not
involving persons named in ‘‘The Proclaimed List of Certain Blocked Nationals” ---------------------No. 54. Transactions involving property interests of China or Japan, or any national thereof, prior to
but not on or since July 26, 1941----------------------------------------------------------------------------------------No. 55. (Expired)___________________________________________________________________________
No. 56. Certain transactions by commercial organizations within territory of Hawaii which are
nationals of China (Partially revoked)______________________________________________________
No. 57. (R ev ok ed )..._____________________________________________________________ _________
No. 58. Transactions incident to trade between the United States and any part of China other than
Manchuria (Partially revoked)_____________________________________________________________
No. 59. Offices of certain New York banks and certain other institutions within Hong Kong and
China, except Manchuria—generally licensed nationals (Partially revoked)------------------------------No. 60. National Government of the Republic of China and Central Bank of China—generally
licensed nationals (Partially revoked)_______________________________________________________
No. 61. Offices of certain Chinese banks outside the United States and not within any blocked
country other than China—generally licensed nationals (Partially revoked)------------------------------No. 62. Certain Chinese institutions in Washington, D. C., and in New York, N. Y.—generally
licensed nationals_________________________________________________________________________
No. 63. (Revoked)__________________________________________________________________________
No. 64. (Revoked)__________________________________________________________________________
No. 65. (Revoked)__________________________________________________________________________




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CONTENTS— (Continued)
G eneral L icenses—Continued
Pase
No. 66. Hawaiian offices of certain banks—generally licensed nationals (Partially revoked)________
No. 67. (Expired)___________________________________________________________________________
No. 68. (Revoked)__________________________________________________________________________
No. 68A. Japanese nationals residing continuously within Continental United States since June 17,
1940, and certain Japanese business enterprises—generally licensed nationals. Reports to be filed- .
No. 69. San Francisco office of the Bank of Canton—generally licensed national_________________
No. 70. Transactions on behalf of, or involving property of, Portugal and its nationals___________
No. 71. Payment for subscriptions to United States periodicals_________________________________
No. 72. Filing and prosecution in the United States of applications for patents, trade-marks and
copyrights----------------------------------------------------------------------------------------1------------------------------No. 72A. Filing and prosecution of applications for blocked foreign patents, trademarks and copy­
rights—filing of reports on Form TFR-132--------------------------------------------------------------------------No. 73. Certain Chinese partnerships—generally licensed nationals_____________________________
No. 74. Payments from accounts of United Stated citizens who are abroad for certain personal
expenses in the United States________________ ______________________________________________
No. 75. Remittances through domestic banks to persons in any part of China except Manchuria
(Partially revoked)_______________________________________________________________________
No. 76. Transactions involving property interests of Thailand, or any national thereof, prior to but not
on or since December 9, 1941______________________________________________________________
No. 77. Japanese nationals engaged in production, marketing or distribution of food in UnitedStates.
No. 78. Transactions involving property interests of Hong Kong, or any national thereof, prior to but
not on or since December 25, 1941_________________________________________________________
No. 79. (Expired)__________________________________________________________________________
No. 80. Philippine citizens residing only in United States or in generally licensed trade area—
generally licensed nationals________________________________________________________________
No. 81. New York office of Philippine National Bank and certain offices of Hong Kong and Shanghai
Banking Corporation—generally licensed nationals__________________________________________
No. 82. Government of Commonwealth of Philippine Islands, United States High Commissioner,
and certain others—generally licensed nationals_____________________________________________
No. 83. (Expired)__________________________________________________________________________
No. 84. Bringing into the United States of United States Defense and War Savings Stamps and
Bonds and certain Treasury Notes_________________________________________________________
P ublic Circulars:
No. 1. Extension of time for filing reports on Form TFR-300___________________________________
No. 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 of control of
vessel involved and prepayment of freight__________________________________________________
No. 4. Instructions for preparation of reports on Form TFR-300 of all foreign-owned property
subject to the jurisdiction of the United States------------------------------------------------- -------------------No. 4A. Instructions for preparation of reports on Form TFR-300, Series J, by certain nationals of
Japan___________________________________________________________________________________
No. 4B. Instructions for preparation of reports on Form TFR-300, Series K, of property in which
nationals of the Philippine Islands had any interest__________________________________________
No. 4C. Instructions for preparation of reports on Form TFR-300, Series L____________________
No. 5. Jurisdiction of Treasury Department and Office of the Alien Property Custodian with respect
to certain transactions involving patents, trademarks and copyrights---------------------------------------No. 5A. (Revoked.)________________________________________________________________________
No. 6. Attachment of Form TFEL-2 to obligations issued by governments and corporations of
blocked countries-------------------------------------------------------------------------------------------------------------No. 7. Remittances to individuals in any part of China, except Manchuria, under General Licenses
Nos. 32 and 33 to be effected as prescribed in paragraph (1) (c) of General License No. 75________
No. 7A. Remittances to Macao______________________________________________________________
No. 8. Revocation of Japanese licenses and authorizations_______________________ ______________
No. 8A. Certain general licenses, which were revoked by Public Circular No. 8, reinstated-----------No. 9. Revocation of licenses and authorizations regarding certain obligations of Government of
Denmark and certain other obligors-------------------------------------------------------------------------------------No. 10. Revocation and modification of certain licenses involving Hong Kong and generally licensed
trade area____________'.____________________________________________________ ______________
No. 11. Freezing of Philippine assets and reports on Form TFR-300 regarding such assets. Revoca­
tion of General Licenses Nos. 63 and 65 and amendment of General Licenses Nos. 13 and 75_____




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CONTENTS— (Continued)
P ublic C irculars—Continued
No. 12. Inclusion in “ Proclaimed List” of names of persons within neutral European countries___ ____ 70
No. 13. Amendment of General Licenses Nos. 13, 14, 15, 19, 21, and 27 by deleting certain reporting
requirements_________________________________________________ ____________________________ ____70
No. 14. Prohibiting purchase, without special license, for any blocked account of more than 1 percent
of outstanding shares of any one class of any corporation. Filing of Form T F R -4_____________ ____ 70
No. 15. Amendment of General Licenses Nos. 49, 50, 52 and 70, requiring reports on Forms TFR-149
and TFER-1.............................................................................................................................. ............ ....... 71
No. 16. Extension of Executive Order to British Malaya---------------- ; ___________________________ ____71
No. 17. General Licenses Nos. 13, 15, 20, 21, and 53 no longer applicable to Netherlands East Indies.
72
No. 18. Standard of conduct which United States concerns doing business within Latin America are
required to follow with respect to transactions involving enemy nationals______________________ ____72
No. 19. Amendments of General Licenses Nos. 4, 5, 13, 20, 53, 66, and 69, and General Ruling No.
11; Revocation of General Licenses Nos. 11A and 77_________________________________________ ____73
No. 20. Administration of assets of decedents’ estates under General License No. 30A____________ ____74
No. 21. Certain transactions involving sub-accounts not authorized by certain general or specific
licenses____________________________ _________ _______ _________________________. ___________ ____75
P ublic I nterpretations;
No. 1. Subject: General License No. 2 7 ..._ _____________ . ___________ __________________ _—.
_
76
No. 2. Subject: General License No. 53___________________________________________________________76
No. 3. Subject: General Licenses Nos. 49, 50, 52, and 70, and Public Circular No. 15_____________ ____76
No. 4. Subject: Requirement of Treasury license for communication with an enemy national outside
the United States--------------- ------------------ -— ----------------------------- -------- -— ----------------------------- 76
No. 5. Subject: Application of General Ruling No. 11 to imports or exports insured with companies
which are enemy nationals or through agents who are enemy nationals________________________ ____77
No. 6. Subject: Sending securities, currency, checks, etc., to Sweden, Switzerland, Spain, Portugal
and Unoccupied France--------------------- -------------------------------------------------. . . . . . -------------------- ------77
No. 7. Subject: Remittances under General Licenses Nos. 32 and 33______ ____________________ _____77
No. 8. Subject: Remittances to enemy prisoners of war under General License No. 3 2 ..___ __________77
No. 9. Subject: Application of General Ruling No. 11 to Monaco_______________________________ ____78
No. 10. Subject: Examination of endorsements appearing on checks and drafts received from abroad.
78
No. 11. Subject: Persons who may file applications for licenses_ ____________________ _________ ____78
_
Press R eleases :
No. 1. Reference— Executive Order No. 8389, as amended; Regulations approved June 14, 1941___ ___ 79
No. 2. Reference— General Licenses Nos. 49 and 50______________ ________________ . . . _________ ____79
No. 3. Reference— General License No. 51_______________________________ . . . . . _______ . . . _________80
No. 4. Reference—Regulations approved June 14, 1941; Public Circular No. 1____ _____________ _____80
No. 5. Reference-—General License No. 52_________ . . . . . . . . . . . . . . _____. . . . . . . ___. . . . _______ ____ 80
No. 6. Reference—Proclamation; General License No. 53------- -—. . . . . . . ------------ --------------------- ----- 80
No. 7. Reference— Executive Order No. 8389, as amended; Regulations approved July 26,1941____ ____ 81
No. 8. Reference— General License No. 53______ _________________ _____. . . ___________ _______ ____ 82
No. 9. Reference—General License No. 70___________________________________________________ ____ 82
No. 10. Reference—Regulations approved June 14, 1941; General Licenses Nos. 42 and 68; Public
Circulars Nos. 1 and 4---------------- -------. . . . . . . ---------------------------------- . . . . — ______________ ___ S2
No. 11. Reference—Public Circular No. 6_________________. . . _____. . . _______ ________ . . . ________ 83
No. 12. Reference— Regulations approved June 14, 1941; Public Circular No. 1__ ___________ _______ 84
No. 13. Reference— General License No. 7 3 . . . ______________________________________________ ____ 84
No. 14. Reference— General Licenses Nos. 32 and 3 3 ..____ ________ ________________ ________ _____ 85
No. 15. Reference— General Licenses Nos. 58 and 75__________________________________________ ___ 85
No. 16. Reference— General Licenses Nos. 42 and 42A________________________________________ ____ 86
No. 17. Reference— Public Circular No. 8-------------------------------------------------------------------------------- ----- 87
No. 18. Reference— General License No. 68A_____ _—________________ ________ _______ . . . ________ 87
No. 19. Reference—Public Circular No. 8A___________________________________________________ ___ 88
No. 20. Reference— Public Circular No. 9________________________________________________________ 88
No. 21. Reference—Executive Order No. 8389, as amended------------------------------------------------------- ----- 88
No. 22. Reference— Public Circular No. 10_________________ . . . . ____. . . . . . . . _________ _______ ____ 88
No. 23. Reference—Public Circular No. 11; General License No. 8 0 . . . . . ___ ___. . . . __. . . _______ ___ 89
No. 24. Reference— General Ruling No. 10__________________________________________________ ____ 89
No. 25. Reference— General Ruling No. 10_______________________________________________________ 90
No. 26. Reference— Public Circular No. 14----------------------------------------------------------------------------------- 91




4

CONTENTS— (Continued)
P rsss R eleases—Continued
No. 27. Reference—Public Circular No. 4B__ ___ __________________ . _________________________
92
No. 28. Reference— General Licenses Nos. 42, 42A, 68 and 68A--------------------------------------------- ---92
No. 29. Reference— General Ruling No. 6A_________________________ _________ ______ __________
93
No. 30. Reference— General Licenses Nos. 13, 15, 20, 21 and 53; Public Circular No.17---------------93
No. 31. Reference— General Ruling No. 11; Communications Ruling No. 1________________ ____93
No. 32. Reference— General Ruling No. 11; Public Circular No. 18______ ________ _____________ _
95
No. 33. Reference— General Ruling No. 12____________________________________________________
96
No. 34. Reference— General Ruling No. 5______ . . . ------- -—- _______ _________ — ,------- -------—
99
No. 35. Reference— General Ruling No. 13_________________________________________________ —
99
No. 36. Reference— General Ruling No. 10A---------------------------------------------------------------------------100
No. 37. Reference— General Ruling No. 14_______________________ - _________ ________________ _
100
No. 38. Reference— Public Interpretation No. 6_________________________ ________—,___________
101
102
No. 39. Reference— Public Circular No. 4C___________________________________________________
No. 40. Reference— Public Circular No. 19; General Ruling No. 11; General Licenses Nos. 4, 5, 11A,
13, 20, 53, 66, 69 and 7 7 .............. ............................ .........................................................................
102
No. 41. Reference— General Rulings Nos. 5 and 14__________________________________________ —
103
No. 42. Reference— General Ruling No. 11___________________________________________________
104
No. 43. Reference— General Ruling No. 15__________________________________________________ 104
T rading W ith the enemy A ct:
Sections 2, 3(a), 3(c) and 5(b)_______________________________________________________________

105

General License:
By the President under Section 3(a) of the Trading with the enemy Act--------------------------------------

107

E xecutive Order No. 9095, as amended_________________________________________________________

108

P ress R eleases:
A. Reference—Section 3(a) Trading with the enemy Act; General License thereunder____________
B. White House Statement with reference to amendment of Executive Order No. 9095__________ -

111
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5

EXECUTIVE ORDER NO. 8389
[Executive Order No. 8389, dated April 10, 1940, was amended May 10, 1940, June 17, 1940, July 15, 1940,

July 25, 1940, October 10, 1940, March 4, 1941, March 13, 1941, March 24, 1941, April 28, 1941, June 14, 1941,
July 26, 1941, December 9, 1941, and December 26, 1941. The original text and intermediate amendments to
Jun 14, 1941 are omitted from this publication. Following is the text of Executive Order No. 8389 as amended
e
by Executive Order No. 8785 dated June 14, 1941, and as further amended by Executive Order No. 8832, dated
July 26, 1941, Executive Order No. 8963, dated December 9, 1941, and Executive Order No. 8998, dated Decem­
ber 26, 1941. The amendments effected by these Executive Orders are indicated by footnotes.]

EXECUTIVE ORDER NO. 8785, AS AMENDED*
REGULATING TRANSACTIONS IN FOREIGN EXCHANGE AND FOREIGN-OWNED
PROPERTY, PROVIDING FOR THE REPORTING OF ALL FOREIGN-OWNED
PROPERTY AND RELATED MATTERS
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 No. 8389 of April 10, 1940, as amended, is amended to read as follows:
Sec. 1. All 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. All 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 institu­
tion within the United States);
B. All payments by or to any banking institution within the United States;
C. All transactions in foreign exchange by any person within the United States;
D. The 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. All 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 . 2.

A.
All of the following transactions are prohibited, except as specifically author­
ized by the Secretary of the Treasury by means of regulations, rulings, instructions,
licenses, or otherwise:
(1)
The 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
•Set Prat R eltw No. 1.




6

foreign country, or where the attendant circumstance disclose or indicate that
such stamp or seal may, at any time, have been stamped, imprinted, affixed or
attached thereto; and
(2)
The 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. The Secretary of the Treasury may investigate, regulate, or prohibit under
such regulations, 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 an> 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 . 3. The 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 fol­
lowing schedule:

(a) April 8, 1940 1
—
Norway and
Denmark;
(b) May 10, 1940—
The Netherlands,
Belgium and
Luxembourg;
(c) June 17, 1940—
France (including Monaco);
(dO July 10, 1940—
Latvia,
Estonia and
Lithuania;
(e) October 9, 1940—
Rumania;
(f) March 4, 1941—
Bulgaria;
(g) March 13, 1941—
Hungary;
(h) March 24, 1941—

Yugoslavia;
(i)
(j)

April 28, 1941—
Greece;
June 14, 1941—
Albania,
Andorra,
Austria,
Czechoslovakia,
Danzig,
Finland,
Germany,

Italy,
Liechtenstein,
i Denmark, does not Include Iceland.




Set General Ealing No. L

7

(j)

June 14, 1941— Continued.

Poland,
Portugal,
San Marino,
Spain,
Sweden,
Switzerland, and

Union of Soviet Socialist Republics;
(k) June 14, 1941 2
—

China, and
Japan;
(1)

June 14, 1941 3
—

Thailand;
(m) June 1 4 ,1 9 4 1 4
—

Hong Kong.
The “ 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 . 4.

A. The 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, complete 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 production 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, in­
vestigate 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, regard­
less 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 . 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 limitation (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. The term“ United States” means the United States and any place subject to the
jurisdiction 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
* Subdivision (k) added b y Executive Order N o. 8832, dated July 26, 1941. See Press Release N o. 7.
* Subdivision (1) added by Executive Order No. 8953, dated December 9, 1941.
4 Subdivision (m) added b y Executive Order No. 8998, dated December 26,1941. See Press Release N o. 21.
(See Public Circular N o. 11, relating to the Philippine Islands, and No. *6, relating to British Malaya.)




8

include any territory included within the term “ foreign country” as defined in paragraph
D of this section.*
C. The term “ person” means an individual, partnership, association, corporation,
or other organization.
D . The term “ foreign country” shall include, but not by way of limitation,
(i) The state and the government thereof on the effective date of this Order as
well as any political subdivision, agency, or instrumentality thereof or any territory,
dependency, colony, protectorate, mandate, dominion, possession or place subject to
the jurisdiction thereof,
(ii) Any other government (including any political subdivision, agency, or
instrumentality 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 con­
trolled or occupied by the military, naval or police forces or other authority of such
foreign country,6
(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
Hong Kong shall be deemed to be a foreign country within the meaning of this
subdivision.6
E. The 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 tho 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 winch tho 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 securi­
ties 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
* Paragraph B of section 5 amended b y Executive Order N o. 8998, dated December 26,1W1. See Pres* Release No. t l. See also Public Circular
N o. 11 T h e term "U nited States” does not include the Philippine Islands.
• Subdivisions (iii) and (iv) o f paragraph D of section 5 substituted in lieu of subdivision (iii), and last sentence of paragraph D added b y Execu­
tive Order N o. 8998, dated December 28, 1SM Former subdivision (iii) became subdivision (iv). Set Press Release N o. t l.
1.




9

national of cach of such foreign countries. The Secretary of the Treasury shall have
full power to determine that any person is or shall be deemed to be a “ national” within
tho meaning of this definition, and the foreign country of which such person is or shall
be deemed to be a national. Without limitation 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. The 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 pm-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. The term “ this Order” , as used herein, shall mean Executive Order No. 8389
of April 10, 1940, as amended.
S e c . 6 . Executive Order No. 8 3 8 9 of April 1 0 , 1 9 4 0 , as amended, shall no longer be
deemed to be an amendment to or a part of Executive Order No. 6 5 6 0 of January 1 5 , 1 9 3 4 .
Executive Order No. 6 5 6 0 of January 1 5 , 1 9 3 4 , and the Regulations of November 1 2 , 1 9 3 4 ,
are hereby modified in so far as they are inconsistent with the provision 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 No. 6 5 6 0 of January 1 5 , 1 9 3 4 , as amended, or pursuant to this Order; provided,
however, that all such licenses, rulings, or instructions shall be subject to the provisions
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, modification, 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 ec. 7. Without 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, rul­
ings, and instructions to carry out the purposes of this Order and to provido 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 application or license shall bo
final.
S e c . 8. Section 5 (b) of the Act of October 6,1917, as amended, provides in part:

a * * * 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.”
S e c . 9. This Order and any regulations, rulings, licenses, or instructions issued hereunder
may be amended, modified, or revoked at any time.
F r a x k l in D . R
T

he

W




h it e

H

ouse,

June 1 4 ,1 9 4 1 .
10

oo sevelt

[The Regulations of the Secretary of the Treasury issued April 10, 1940, were amended May 10, 1940,
June 17, 1940, July 15, 1940, October 10, 1940, March 4, 1941, March 13, 1941, March 24, 1941, April 28, 1941,
June 14, 1941, and July 26, 1941. Since the Regulations as amended June 14, 1941 are printed immediately
below, the original text of the Regulations issued April 10, 1940 and the intermediate amendments are omitted.
The amendment date July 26, 1941 is set forth on page 13.]
C

ope

of

F

ederal

R

T

e g u l a t io n s

Title 31— Money and Finance: Treasury
Chapter I— Monetary Offices, Department of the Treasury
Part 130

reasu ry

O

D

epartm ent

f f ic e o f t h e

Secretary

June 14, 1941.

REGULATIONS* UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED
RELATING TO TRANSACTIONS IN FOREIGN EXCHANGE AND FOR2IGN-OWNED
PROPERTY, THE REPORTING OF ALL FOREIGN-OWNED PROPERTY AND
RELATED MATTERS*
Tlic Regulations of April 10, 1940, as amended (Sections 130.1 to 130.6), are amended to read
as follows:
S e c . 130.1. Authority fo r regulations.— These regulations are prescribed and issued under
authority of Section 5 (b) of the Act of October 6,1917 (40 Stat. 415), as amended, and Executive
Order No. 8389 of April 10, 1940, as amended by Executive Order No. 8785 of June 14, 1941.*
S e c . 130.2.-—Definitions.
(a) The term “ Order” shall refer to Executive Order No. 8389 of April 10, 1940, as amended.
(b) The term “regulations” shall refer to these regulations.
(c) The terms “property” and “property interest” or “property interests” shall include,
but not by way of limitation, money, checks, drafts, bullion, bank deposits, savings accounts,
any debts, indebtedness or obligations, financial securities, commonly dealt in by bankers,
brokers, and investment houses, notes, debentures, stocks, bonds, coupons, bankers’ acceptances,
mortgages, pledges, hens or other right in the nature of security, warehous*e receipts, bills of
lading, trust receipts, bills of sale, any other evidences of 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, book 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,
pooling agreements, contracts of any nature whatsoever, et cetera.
(d) Safe deposit boxes shall be deemed to be in the “ custody” not only of all persons having
access thereto but also of the lessors of such boxes whether or not such lessors have access to such
boxes. The foregoing shall not in any way be regarded as a limitation upon the meaning of the
term “custody” .
(e) For the meaning of 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 regulations, particular attention is directed to the provisions of General Ruling No. 4, as
from time to time hereafter amended.*
S e c . 130.3. Licenses.— Applications for licenses to engage in any transaction referred to in
sections 1 or 2 of the Order shall be filed in triplicate with the Federal Reserve Bank of the dis­
trict or the Governor or High Commissioner of the territory or possession of the United States
in which the applicant resides or has his principal place of business or principal office or agency,
or if the applicant has no legal residence or principal place of business or principal office or
agency in a Federal Reserve district or a territory or possession of the United States then with
the Federal Reserve Bank of New York or the Federal Reserve Bank of San Francisco. Application
forms may be obtained from any Federal Reserve Bank, the Governor or High Commissioner
of a territory or possession of the United States, or the Secretary of the Treasury, Washington,
See footnotes p. 12.




ii

D . C. The original of each application shall be executed under oath before an officer authorized
to administer oaths, or if executed outside of the United States, before a diplomatic or consular
officer of the United States. The applicant shall furnish such further information as shall be
requested of him by the Secretary of the Treasury or the Federal Reserve Bank or other agency
at which the application is filed. Licenses will be issued by the Secretary of 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 regulations, rulings, and instructions as the Secretary of
the Treasury may from time to time prescribe, in such cases or classcs of cases as the Secretary
of the Treasury may determine. The Federal Reserve Bank or other agency at which an appli­
cation is filed will advise the applicant of the decision respecting the application. Licenses for
exports, withdrawals or imports, after having been cancelled by the collector of customs or tho
postmaster through whom the exportation, withdrawal or importation was made, majr be returned
by such collector of customs or postmaster to the licensee. Appropriate forms for applications
and licenses will be prescribed by the Secretary of the Treasury. Licensees may be required to
file reports upon the consummation of the transactions. Tho decision of the Secretary of tho
Treasury with respect to an application for license shall be final.*
S e c . 1 3 0 .4 .
Reports of Property Interests of AU Foreign Countries and Nationals. Thereof. J
(a) On or before July 14, 19411, reports shall be filed on Form TFR-300, duly executed
under oath, containing the information called for in such Form, with respect to all property
subject to the jurisdiction of the United States on the opening of business on June 1, 1940, and
with respect to all property subject to the jurisdiction of the United States on the opening of
business on June 14, 1941, in which on the respective dates any foreign country or any national
thereof had any interest of any nature whatsoever, direct or indirect, regardless of whether a
report on Form TFR-100 with respect to any such property shall have previously been filed.
Such reports shall be filed by:
(1)
Every person in the United States, directly or indirectly holding, or having title to, or
custody, control or possession of such property on either or both of the aforementioned re­
spective dates.
(2)
Every agent or representative in the United States for any foreign country or any
national thereof having any information with respect to such’ property.
Provided, That no report on Form TFR-300 need be filed where the total value of all property
interests of any foreign countiy or national to be reported is less than $1,000.
Without any limitation whatsoever of the foregoing, reports on Form TFR-300, filed as
required above, shall be filed by eveiy partnership, trustee, association, corporation or other
organization organized under the laws of the United States or any state, territory, or district of
the United States or having its principal place of business in the United States, with respect to
any shares of its stock or any of its debentures, 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 of the aforementioned respective dates, any interest of any nature whatsoever,
direct or indirect.

(b) Reports shall be executed and filed in quadruplicate with the Federal Reserve Bank of
the district or the Governor or High Commissioner of the territory or possession of the United
States in which the party fifing the report resides or has his principal place of business or principal
office or agency, or if such party has no legal residence or principal place of business or principal
office or agency in a Federal Reserve district or a territory or possession of the United States,
then with the Federal Reserve Bank of New York or the Federal Reserve Bank of San Francisco.
A report shall be deemed to have been filed when it is received by the proper Federal Reserve
Bank or other agency or when it is properly addressed and mailed and bears a postmark dated
’ Sections 130.1 to 130.7.—Sec. 6 (b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Executive Order 8380, April 10, 1940, as amended b y
Executive Order 8785.. June 14,1941.
JSm Press Releases Nos. 1 ,4 ,1 0 and 12.
fSee Public Circular N o. 1. See General License N o. C8A, as amended; Public Circulars Nos. 4, 4A, 4B and 11; Press Releases Nos. 10,
23 and 27.




12

prior to midnight of the dato upon which the report is due. Each Federal Reserve Bank or other
agency shall promptly forward three copies of every report filed with it to the Secretary of the
Treasury.
(c) (1) All spaces in the report must be properly filled in. Reports found 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)
Where space in the report form docs not permit full answers to questions, the infor­
mation 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 holding property jointly may file a joint report.
(e) The Secretary of the Treasury may, in his discretion, grant such extensions of time or
exemptions as he deems advisable for the making of any or all of the reports required by these
regulations.
(f) Report Form TFR-300 may be obtained from any Federal Reserve Bank, the Governor
or High Commissioner of a territory or possession of the United States, or the Secretary of the
Treasury, Washington, D. C.*
Sec. 130.5. Penalties.— 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.” *
S e c . 130.6. These regulations and any rulings, licenses, or instructions issued hereunder
shall not be deemed to authorize any transaction prohibited by reason of any other law, procla­
mation, order or regulation.*
S e c . 1 3 0 .7 . Amendment, Modification, or Revocation.
These regulations and any rulings,
licenses, instructions, or forms issued hereunder may be amended, modified, or revoked at any
time.*
H e n r y M o r g e n t h a u , Jr.,
Secretary o j the Treasury.
Approved: June 14, 1941.

F r a n k l in D . R

o o sevelt

T

reasury

O f f ic e

D

epartm ent,

of th e

Secretary,

July 26,1941.

AMENDMENT TO REGULATIONS*
The Regulations of April 10, 1940, as amended (Sections 130.1 to 130.7), are hereby amended
so that reports on Form TFR -300 shall be filed with respect to all property subject to the juris­
diction of the United States on the opening of business on July 26, 1941, as well as with respect
to all property subject to the jurisdiction of the United States on the opening of business on
June 1, 1940, and with respect to all property subject to the jurisdiction of the United States on
the opening of business on June 14, 1941, in which on the respective dates China or Japan or any
•Sections 130.1 to 130.7.—See. 6 (b ), 40 Stat. 415 and 966; Sec. 2,48 Stat. 1; 64 Stat. 179; Ex. Order 83S9, April 10, 1940, as amended b y Ex. Order
87S5, June 14,1941, and Ex. Order 8832, July 26, 1941. See Tress Release N o. 7.




13

national thereof had any interest of any nature whatsoever, direct or indirect. Such reports shall
be filed by the persons specified in Section 130.4 of the Regulations and in the manner prescribed
in the Regulations.

E. H.

F o le y ,

Jr.,

Acting 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

AUTHORIZING A PROCLAIMED LIST OF CERTAIN BLOCKED NATIONALS
AND CONTROLLING CERTAIN EXPORTS
By t h e P r e s id e n t o f t h e U n ite d S t a t e s o f A m e rica

A

P r o c la m a tio n

I, Franklin D. Roosevelt, President of the United States of America, acting under and by
virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917 (40 Stat. 415)
as amended and Section 6 of the Act of July 2, 1940 (54 Stat. 714) as amended and 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 Proclamation is necessary in the interest of national defense, do
hereby order and proclaim the following:
Sec. 1. 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, shall from
time to time cause to be prepared an appropriate list of—

(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 of any article or material exported from the United States, is deemed
to be detrimental to the interest of national defense.
In similar manner and in the interest of national defense, additions to and deletions from
such list shall be made from time to time. Such list and any additions thereto or deletions there­
from shall be filed pursuant to the provisions of the Federal Register Act and such list shall be
known as “ The Proclaimed List of Certain Blocked Nationals” .
Sec. 2. Any person so long as his name appears in such list, shall, for the purpose of Section
5 (b) of the Act of October 6, 1917, as amended, and for the purpose of this Proclamation, be
deemed to be a national of a foreign country, and shall be treated for all purposes under Executive
Order No. 8389, as amended, as though he were a national of Germany or Italy. All the terms
and provision of Executive Order No. 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 of
Germany or Italy, and to property in which nationals of Germany or Italy have or have had an
interest.
Sec. 3. The exportation from the United States directly or indirectly to, or on behalf of, or
for the account of any person so long as his name appears on such list of any article or material
the exportation of which is prohibited or curtailed by any proclamation heretofore or hereafter
issued under the authority of Section 6 of the Act of July 2, 1940, as amended, or of any other
military equipment or munitions, or component parts thereof, or machinery, tools, or material,
or supplies necessary for the manufacture, servicing, or operation thereof, is hereby prohibited
under Section 6 of the Act of July 2, 1940, as amended, except (1) when authorized in each case
by a license as provided for in Proclamation No. 2413 of July 2, 1940, or in Proclamation No.




14

2465 of March 4, 1941, as the case may be, and (2) when the Administrator of Export Control
under my direction has determined that such prohibition of exportation would work an unusual
hardship on American interests.
Sec. 4. The term “ person” as used herein means an individual, partnership, association,
corporation or other organization.
The term “ United States” as used herein means the United States and any place subject to
the jurisdiction thereof, including the Philippine Islands, the Canal Zone, and the District of
Columbia and any other territory, dependency or possession of the United States.
Sec. 5. Nothing herein contained shall be deemed in any manner to limit or restrict the
provisions of the said Executive Order No. 8389, as amended, or the authority vested thereby
in the Secretary of the Treasury and the Attorney General. So far as the said Executive Order
No. 8389, as amended, is concerned, “ The Proclaimed List of Certain Blocked Nationals” ,
authorized by this Proclamation, is merely a list of certain persons with respect to whom and
with respect to whose property interests the public is specifically put on notice that the pro­
visions of such Executive Order are applicable; and the fact that any pei'son is not named in
such list shall in no wise be deemed to mean that such person is not a national of a foreign country
designated in such order, within the meaning thereof, or to affect in any manner the application
of such order to such person or to the property interests of such person.
In W i t n e s s W h e r e o f , I have hereunto set my hand and caused the seal of the United
States of America to be affixed.
D o n e at the city of Washington this 17 day of July, in the year of our Lord nineteen hundred
and forty-one, and of the Independence of the United States of America the one hundred and
sixty-sixth.
F r a n k l in D . R

o o sevelt

By the President:
S umner W

elles,

Acting Secretary of State.
[See General License No. 53; Public Circular No. IS; Press Release No. 6.]

(T. D. 50433, as amended)
REGULATIONS— RESTRICTED EXPORTATIONS AND IMPORTATIONS
E n fo r c e m e n t o f R e s t r ic t io n s o n Im p o rts a n d E x p o r t s S u b je c t t o
t h e P r e s id e n t ’s P r o c la m a tio n o f J u ly

t h e P r o v is io n s o f

17, 1941, R e g a r d i n g “ B l o c k e d N a t i o n a l s ”
T reasu ry

D e p a rtm e n t,

July 22, 1941.

To Collectors of Customs and Others Concerned:
The following regulations are hereby prescribed to give effect to the President’s proclamation
of July 17, 1941, authorizing the publication of “ The Proclaimed List of Certain Blocked
Nationals” and the list promulgated pursuant to that proclamation:
(1) In respect of all merchandise intended for exportation after April 15, 1942, there
shall be submitted with each export declaration a list or statement showing the name and
address of each consignee, including the ultimate consignee and every intermediate con­
signee, unless such names and addresses are set forth in the appropriate export declaration.
If the ultimate or any intermediate consignee, consignor, shipper or other person having
an interest in the merchandise or in the transaction is named in “ The Proclaimed List of
Certain Blocked Nationals” , the exportation shall not bo permitted except upon presen­
tation of a license issued pursuant to Executive Order No. 8389, as amended, or in­
structions from the Treasury Department authorizing the transaction.
(2) With respect to importations of merchandise in which any person named in the
Proclaimed List appears to have an interest as consignor, seller, shipper, or otherwise, the
acceptance of entries for consumption and withdrawals from warehouse for consumption in
respect of such merchandise tendered after July 27,1941, shall be withheld pending presenta­




15

tion of a license issued pursuant to Executive Order No. 8389, as amended, or instructions
from the Treasury Department authorizing the transaction.
(3) These regulations do not affect in any way the necessity for a license under the
Export Control Act of July 2, 1940. Neither an export control license nor a license under
Executive Order No. 8389, as amended, will be accepted in lieu of the other type of license.
(4) Nothing in paragraphs (1) and (2) above shall be deemed to excuse any person
from the necessity of obtaining a license in accordance with Executive Order No. 8389, as
amended, and the proclamation of July 17, 1941, covering importations from or exportations
to any person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” .
E. H. F o l e y , Jr.
Acting Secretary of the Treasury.
T. D. 50433 amended by T. D. 50530, December 17, 1941; T. D. 50548, January 14, 1942; T. D. 50600,
April 11, 1942. T. D. 50530 deleted paragraph 3 and renumbered paragraphs 4 and 5 as 3 and 4, respectively;
T. D. 50548 amended paragraph 2 by deleting “ from any American Republic” following “ importations” in the
first line; T. D. 50600 made certain changes in paragraph 1.

(T. D. 50530)
RESTRICTED EXPORTATIONS AND IMPORTATIONS— PROCEDURE
T r e a s u r y D ep a rtm en t,

December 17, 19J+1.

To Collectors o f Customs and Others Concerned:
The following instructions are hereby prescribed and shall be followed by you in enforcing
Executive Order No. 8389, April 10, 1940, as amended:
(1) [Sec. 26.11] Whenever presentation of a special license issued pursuant to Executive
Order No. 8389, as amended, is required upon the entry, withdrawal, or exportation of merchan­
dise, two extra legible copies of the entry, withdrawal, or export declaration shall be filed with the
collector of customs at the port where the transaction is to take place. Each copy of any such
entry, withdrawal, or export declaration, including the two extra copies, shall bear plainly on its
face the number of the license pursuant to which it is filed.
(2) [Sec. 26.12] The original copy of the special license shall be presented to the collector in
respect of each such transaction and shall bear a notation in ink by the licensee or person pre­
senting the license showing the description, quantity, and value of the merchandise to be entered,
withdrawn, or exported. This notation should be so placed and so written that there will exist
no possibility of confusing it with anything placed on the license at the time of its issuance. If
the license in fact authorizes the entry, withdrawal, or exportation the collector, or other author­
ized customs employee, shall verify the notation by signing or initialing it after first assuring
himself that it accurately describes the merchandise it purports to represent. The license shall
thereafter be returned to the person presenting it and the two extra copies of tho entry, with­
drawal, or export declaration shall be forwarded to the Federal Reserve Bank which issued the
license pursuant to which they were filed.
(3) [Sec. 26.13] The collector of customs at any port at which merchandise is to be entered,
withdrawn, or exported pursuant to the terms of some special license may waive the requirement
of presentation of the original copy of such license provided that:
(a)
The person presenting the entry, withdrawal, or export declaration presents to the
collector an affidavit stating:
(i) facts indicating that it would create great and unreasonable hardship for him to
present the original copy of the license, and
(ii) that the entry, withdrawal, or exportation is one of the large number which are
to be made pursuant to the same license, and
(iii) that all the entries, withdrawals, or exportations are to be made at the same
port; and




16

(b) The collector receiving such an affidavit is satisfied that the circumstances in fact
warrant the waiver; and
(c) There is presented to the collector either a photostatic copy of the original license
or a copy of the license signed by the officer who issued and signed the original.
If such waiver is granted, the collector shall retain the copy of the licensc presented to him
and shall note on it, or cause to be noted on it, the description, quantity, and value of all mer­
chandise entered, withdrawn, or exported from time to time pursuant to the authority therein
contained.
When such waiver is granted and all the merchandise authorized to be entered, withdrawn,
or exported under a special license has been entered, withdrawn, or exported, the copy of the
license on file with the collector shall be endorsed to indicate this fact and shall be forwarded to
the Federal Reserve Bank which issued the license. When a license expires, unless it is renewed
and the collector is advised of its renewal, any copy thereof which is on file with the collector shall
be endorsed to show the expiration and shall be forwarded to the Federal Reserve Bank which
issued the license.
(4)
[Sec. 26.14] The requirement that two extra copies of each entry, withdrawal, or export
declaration be filed in connection with every transaction under a special license shall remain in
effect notwithstanding any waiver of the requirement of presenting the original copy of the
license.
T . D . 50433 issued on July 22, 1941 (6 F. R. 3672), is amended as follows:
Paragraph 3 (19 C. F. R. 26.3) is deleted.
Paragraphs 4 and 5 (19 C. F. R. 26.5 and 26.6) are renumbered 3 and 4 (19 C. F. R. 26.3 and
26.4) respectively.
The provisions hereof shall be effective on and after the tenth day following its publication
in the Federal Register.
E. H. F o l e y , Jr.,
Acting Secretary o f the Treasury.
[The text of T. D. 50433, as set forth in this publication, has been revised to give effect to the amendments
set forth in T. D. 50530.J

GENERAL RULINGS
ISSUED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER
NO. 9193, SECTIONS 3(a) AND 5(b) OF THE TRADING W ITH THE ENEMY
ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO
FOREIGN FUNDS CONTROL.
TERM “ DENMARK” NOT APPLICABLE TO ICELAND
General Ruling No. 1.
The Secretary of State has advised me as follows:
“ Denmark and Iceland are two separate political entities. Acting under the authority
of a provision of the Icelandic Constitution, the Icelandic Parliament has within the past
few days passed a resolution stating that since the King of 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 of the Royal prerogatives and the entire control
of Icelandic foreign relations.
“In view of the foregoing it would not appear that Iceland falls within the definition of
the term ‘Denmark’ in Section 11 of the above-mentioned Executive Order.”
In view of the foregoing, the Treasury Department construes the term “ Denmark” as used
in the above-mentioned Executive Order and Regulations as not applying to Iceland.
[Issued April 15, 1940.




Denmark is one of the countries designated in Section 3 of the Order.]
17

TRANSFER OF STOCK CERTIFICATES AND CUSTODY OF SECURITIES
General Ruling No. 2.
Inquiry has been made as to whether the following are prohibited by the Executive Order
and the Regulations issued thereunder except under license:
(a) The transfer by a banking institution within the United States of stock certificates from
or into the names of “ nationals” of Norway or Denmark; and
(b) The delivery out of custody accounts or the receipt in custody accounts, by a banking
institution within the United States, of securities held or to be held in custody for “nationals” of
Norway or Denmark.
The Treasury Department construes the Executive Order and Regulations as prohibiting
such transactions, except under license.
[Issued April 19, 1940.]

TRANSACTIONS REGARDING SECURITIES REGISTERED OR INSCRIBED IN NAME
OF A DESIGNATED FOREIGN COUNTRY OR NATIONAL THEREOF
General Ruling No. 3 as Amended.
The attention of banks, brokers, transfer agents, registrars and all other persons and banking
institutions in the United States is invited to the fact that the Treasury Department construes
Executive Order No. 8389, April 10, 1940, as amended, and the Regulations issued pursuant
thereto as prohibiting the acquisition, transfer, disposition, transportation, importation, ex­
portation, or withdrawal of, or the endorsement or guarantee of signatures on, or otherwise
dealing in, or with respect to, any security (or evidence thereof) registered or inscribed in the
name of any country designated in Executive Order No. 8389, April 10, 1940, as amended, or any
national thereof, except pursuant to a specific license, irrespective of 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 of any such security.
Applications for licenses should be made in the manner provided in the Regulations issued
under Executive Order No. 8389, April 10, 1940, as amended.
[Issued June 3, 1940; amended June 17, 1940.]

DEFINITIONS AND RULES OF INTERPRETATION 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 No. 8389 of April 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
following definitions and rules of interpretation are prescribed:
(1) The term “ Order” shall mean Executive Order No. 8389, as amended.
(2) The term “license” shall mean a license issued under the Order.
(3) The term “interest” when used with respect to property shall mean an interest
of any nature whatsoever, direct or indirect.
(4) The term “ blocked country” shall mean any foreign country designated in the
Order.
(5) The term “ Netherlands East Indies” shall mean the following: Java and Madura,
Sumatra, Riouw-Lingga archipelago, Banka, Billiton, Celebes, Borneo (West, South, and
East Divisions), Timor archipelago, Bali and Lombok, Lesser Sunda Islands and Dutch
New Guinea.
(6) The term “ Netherlands West Indies” shall mean the following: Dutch Guiana,
Dutch St. Martin, Curacao, Bonaire, Aruba, St. Eustatius and Saba.




18

(7) Any person licensed as a “generally licensed national” shall, while so licensed,
be regarded as a person within the United States who is not a national of any blockcd
country; provided, however, that the licensing of any person as a “generally licensed
national” shall not be deemed to suspend in any way the requirements of the Order and
Regulations relating to reports, and the production of books, documents, records, etc.
(see section 4 of the Order and section 130.4 of the Regulations).
(8) The term "blockcd account” shall mean an account in which any blocked coun­
try or national thereof has an interest, with respect to which account payments, transfers,
or withdrawals, or other dealings may not be made or effected except pursuant to a license
authorizing such action. The term “ blockcd account” shall not be deemed to include free
dollar accounts of the type referred to in General License No. 32, as amended, or the
accounts of generally licensed nationals.
(9) The term “ banking institution” shall have the meaning prescribed in Section
5F of the Order.
(10) The term “domestic bank” shall mean any branch or office within the United
States of any of the following which is not a national of any blocked country: any bank or
trust company incorporated under the banking laws of the United States or of any state,
territory, or district of the United States, or any private bank or banker subject to super­
vision and examination under the banking laws of the United States or of any state, terri­
tory, or district of the United States. The Treasury Department may also authorize any
other banking institution to be treated as a “ domestic bank” for the purpose of this
definition or for the purpose of any licensc, ruling, or instruction.
(11) The term “national securities exchange” shall mean an exchange registered as
a national securities exchange under section 6 of the Securities Exchange Act of 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) Any person who by virtue of any definition in the Order is a national of more
than one blockcd country shall be deemed to be a national of each of such blocked countries.
(14) In any case in which a person is a national of two or more blocked countries, a
license with rcspect to nationals of one of such blocked countries shall not be deemed to
include such person unless a license of equal or greater scope is outstanding with respect
to nationals of each other blocked country of which such person is a national.
(15) The Secrctaiy of the Treasury reserves the right to exclude from the operation
of 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 upon all persons receiving actual notice thereof, or constructive notice if
in any case notice is filed pursuant to the provisions of the Federal Register Act (49 Stat.
500, as amended by 50 Stat. 304; U. S. C., Sup. V, title 44, sec. 301 et seq).
(16) No license shall be deemed to authorize any transaction prohibited by reason of
the provisions of any law, proclamation, order or regulation, other than the Order and
Regulations.
[Issued June 3, 1910; amended May 24, 1941; July 8, 1941.]

CONTROL OF IMPORTED SECURITIES
General Ruling No. 5.
The sending, mailing, importing or otherwise bringing into the United States, on and after
June 7, 1940, 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 is prohibited, except on condition that such securities and evidences thereof be immediately
delivered for examination to a Federal Reserve bank as fiscal agent of the United States. Such
Federal Reserve bank, as fiscal agent of the United States, shall hold such securities and all




19

evidences thereof until the Treasury Department is satisfied as to whether or not any of the
countries named in Executive Order No. 8389, as amended, or any national thereof has at any
time on or since the dates specified in such Order, as amended, had any interest of any nature
whatsoever, direct or indirect, in such securities or evidences thereof. Proof as to whether or
not any of such countries or any national thereof lias had any such interest may be submitted
to the Federal Reserve bank holding such securities or evidences thereof.
Customs officers and postal employees are instructed to deliver any such securities or evi­
dences thereof to a Federal Reserve bank. Any articles arriving from any foreign country on or
after June 7, 1940, which in the opinion of customs officers or postal employees contain such
securities or evidences thereof, shall be subjected to customs inspection in accordance with the
Customs Regulations of 1937. If any article opened by an addressee or his agent in the presence
or under the supervision of a customs officer or postal employee is found to contain such securi­
ties or evidences thereof, such securities or evidences thereof shall be surrendered forthwith to
such customs officer or postal employee for delivery to a Federal Reserve bank, as above
provided.

United States and foreign currency imported or otherwise brought into the United States
on and after May 19,1942, shall be deemed to be “securities or evidences thereof” for the purposes
of this general ruling.
[Issued June 6, 1940; amended May 19, 1942. On June 7, 1910, the Secretary of the Treasury announced
that, until further notice, securities coining into the United States from Great Britain, France, Canada, New­
foundland or Bermuda need not be forwarded to a Federal Reserve Bank for examination under General Ruling
No. 5. Supplementing his said statement of June 7, 1940, the Secretary of the Treasury announced on June 17,
1940, that, until further notice, securities coming into the United States on or after June 17 from France must
be forwarded to a Federal Reserve Bank for examination under General Ruling No. 5. See General License No.
28, as amended; General Ruling No. 6A ; Press Releases Nos. 34 and 4L]

DELIVERY OF IMPORTED SECURITIES BY FEDERAL RESERVE BANKS TO GENERAL
RULING NO. 6 ACCOUNTS IN DOMESTIC BANKS
General Ruling No. 6 as Amended.
(1) The provisions of General Ruling No. 5 of June 6, 1940, and all instructions issued
pursuant thereto, are hereby continued in full forcc and effccl, 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 of the United States, deliver the securi­
ties, at any time, under appropriate arrangements with the addressee of the securities, to a
domestic bank.
(2) Prior to such delivery by a Federal Reserve Bank of any such security, a complete
description of 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 of such mark shall be made at the expense of the addressee
and retained by Buch Federal Reserve Bank. This requirement 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) Upon the delivery of any such security by a Federal Reserve Bank to any domestic

bank, such bank shall execute such form of receipt as may be prescribed by the Secretary of
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 Ruling No. 6 account in such bank.
(5) Any outstanding account in which securities or the proceeds thereof have been placed
pursuant to the provisions of General Ruling No. 6 prior to this amendment shall be deemed
to be a General Ruling No. 6 account.
(6) Federal Reserve Banks shall release aDy security referred to in paragraph (1) hereof, or
shall authorize the release of the contents of any General Ruling No. 6 account, if and when the




20

Treasury Department is satisfied that no blocked country, or national thereof, has, at any time,
on or since the effective date of the Order, had any interest in such security or in such account.
(7) Any application for a license authorizing any transaction or dealing with respect to a
General Ruhng No. 6 account (including the contents thereof) shall specifically indicate that
such account is a General Ruling No. 6 account.
(8) As used in this general ruling and in any other rulings, licenses, instructions, etc., the
term “ General Ruling No. 6 account” shall mean an account of the type referred to in para­
graphs (4) and (5) hereof, and no payments, transfers, or withdrawals may be made from, and
no other transaction or dealing may be effected with respect to, any such account except pur­
suant to paragraph (6) above or pursuant to license, provided, that:
(a) No license shall be deemed to authorize transactions with respect to a General
Ruling No. 6 account unless the provisions of such liccnse are specifically made applicable
to a General Ruling No. 6 account.
(b) In the event that any security placed in a General Ruling No. 6 account is sold
or otherwise dealt with under license, except a license of the type referred to in paragraph
(8) (c) below, the proceeds thereof shall be placed in a General Ruling 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) The contents of a General Ruling No. 6 account cannot be transferred to a blocked
account, except pursuant to a license specifically authorizing such transfer. Applications
for licenses authorizing the transfer of the contents of any General Ruling No. 6 account
to a blocked account shall be accompanied by adequate evidence respecting the interest
therein of blocked countries or nationals thereof.
[Issued August 8, 1940; amended June 27, 1941. See General Ruling No. 6A; Public Circular No. 9; Press
Release No. SO.]

CONTROL OF CERTAIN IMPORTED CURRENCY
General Ruling No. 6A.
United States and foreign currency sent, mailed, imported or otherwise brought into the
United States from any blocked country not within the generally licensed trade area, or from,
by, or on behalf of any person whose name appears on “ The Proclaimed List of Certain Blocked
Nationals” , and the receiving or holding in the United States of such currency so brought into
the United States shall be subject to the provisions of General Rulings Nos. 5 and 6 in the same
manner as if such currency were securities.
[Issued March 13, 1942.

See Press Release No. 29.]

SECURITIES COMING FROM THE PHILIPPINE ISLANDS AND THE PANAMA
CANAL ZONE
General Ruling No. 7.
The provisions of General Ruling No. 5, as supplemented by General Ruling No. 6, have
been extended to securities or evidences thereof coming from the Philippine Islands and the
Panama Canal Zone into any other part of the United States.
[Issued September 18, 1940.]

CERTAIN PAYMENTS TO DESIGNATED FOREIGN COUNTRIES AND
NATIONALS THEREOF
General Ruling No. 8.
Inquiry has been made as to whether the following is prohibited, except under license, by
Executive Order No. 8389, as amended, and the Regulations issued pursuant thereto:

A request or authorization made by or on behalf of a bank or other person within the
United States to a bank or other person in a foreign country other than one of the countries




21

designated in Executive Order No. 8389, as amended, as a result of which request or author­
ization such latter bank or person makes a payment or transfer of credit either directly or
indirectly to one of the foreign countries designated in the Executive Order, as amended, or
a national thereof.
The Treasury Department construes the Executive Order, as amended, and Regulations as
prohibiting such a transaction except under license.
[Issued September 18, 1940.]

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 No. 52 relating to Spain.
General License No. 52 does not permit such transactions and, accordingly, any such trans­
actions which are not authorized by a general license other than General License No. 52 may only
be effected pursuant to a specific license.
[Issued July 23, 1941. At the time of the issuance of General Ruling No. 9, the Treasury Department
directed attention to the fact that Tangier assets are blocked.]

CONTROL OF PHILIPPINE PAPER CURRENCY AND SECURITIES
General Ruling No. 10.
(1) The acquisition, disposition, or transfer of, or other dealing in, or with respect to, any of
the following 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 of the Common­
wealth of the Philippines, including political subdivisions thereof, or any corporation or other
organization organized under the laws of the Philippine Islands, unless Form TFE L -2 has
been previously attached to such security by, or under the direction of, the Treasury
Department.
Form TFE L-2 will be attached to any security referred to herein if presented to any Federal
Reserve Bank on or before February 1, 1942, accompanied by a description thereof on Form
TFR -10. Subsequent to February 1, 1942, Form TFEL-2 will be attached to such securities
only in the discretion of the Secretary of the Treasury and only upon the filing of appropriate appli­
cation with a Federal Reserve Bank tracing the ownership of 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 of Form TFE L-2. Such form will be
attached to stamped securities of the type referred to in section 2A (1) of the Order only pursuant
to existing procedure relating to stamped securities.
(2) Except as authorized by license expressly referring to this general ruling:
(a) All Philippine paper currency held within the United 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 officc of the Philippine National bank.
(b) The bank of deposit shall hold such currency for the account, or pursuant to the
instructions, of the depositor.
(c) On or before February 15, 1942, every bank holding any blocked currency accounts
shall file a report on Form TFR-110 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 currency account” shall mean an account from which no payments, transfers, or with­
drawals 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.




22

(3)
Philippine paper currency which prior to January 1,1942, was of recognized special value
to collectors of rare and unusual currency, or which is held as part of any collection of rare and
unusual currency is hereby excluded from the provisions of this general ruling.
By direction of the President.
[Issued January 14, 1942.

See Press Releases Nos. £4 and 85.J

MORATORIUM ON OBLIGATIONS OF PHILIPPINE COMPANIES
General Ruling No. 10A.

(1) Unless authorized by a license expressly referring to

th is

general ruling:

(a) No Philippine company shall make any payment, or perform any covenant, duty,
condition or service within the United State9 on, or with respect to, any direct or indirect
obligation or security of, or claim against, such company.
(b) No person shall exercise within the United States any right, remedy, power or
privilege with respect to, or directly or indirectly arising out of or in connection with,
any obligation or security of, or claim against, any Philippine company, including any
right, remedy, power or privilege with respect to any guaranty, covenant or agreement
that such Philippine company will perform any covenant, duty, condition or service.
(2) Unless otherwise provided, an appropriate license or other authorization issued by
the Secretary of the Treasury shall remove all the restrictions, disabilities and other limitations
imposed by this general ruling to the same extent as such restrictions, disabilities and other
limitations have been imposed by this general ruling.
(3) This general ruling shall not be deemed to prohibit or otherwise restrict the ordinary
purchase, sale, transfer, pledge or hypothecation of, or similar dealing in, securities which are
issued by, or the obligation of, any Philippine company or to prohibit or restrict transactions
incidental thereto.
(4) As used in this general ruling, the term “ Philippine company” shall mean:

(a) Any partnership, association, corporation or other organization organized under
the laws of the Philippine Islands and which prior to January 1, 1942, derived its principal
income from the Philippine Islands;
(b) Any sole proprietorship which prior to January 1, 1942, derived its principal
income from, and was primarily engaged in business in, the Philippine Islands; and
(c) Any agent, trustee, transfer or paying agent, or other representative of or for
any Philippine company to the extent that it acts as such.
[Issued August 12, 1942.

See Press Release No. 86.]

TRANSACTIONS INVOLVING TRADE OR COMMUNICATION WITH ENEMY
NATIONALS
General Ruling No. II as Amended.
(1) No license or other authorization now outstanding or hereafter issued, unless expressly
referring to this general ruling, shall be deemed to authorize any transaction which, directly or
indirectly, involves any trade or communication with an enemy national.
(2) As used in this general ruling and in any other rulings, licenses, instructions, etc.:




(a) The term “ enemy national” shall mean the following:
(i)
The Government of any country against which the United States has declared
war (Germany, Italy, Japan, Bulgaria, Hungary, and Rumania) and any agent, instru­
mentality or representative of the foregoing Governments, or other person actiiag
therefor, wherever situated (including the accredited representatives of other Govern*
ments to the extent, and only to the extent, that they axe actually representing the
interests of the Governments of Germany, Italy and Japan and Bulgaria, Hungary
and Rumania); and
23

(ii) The government of 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; and
(iii) Any individual within enemy territory and any partnership, association,
corporation or other organization to the extent that it is actually situated within enemy
territory; and
(iv) Any person whose name appeal’s on The Proclaimed List of Certain Blocked
Nationals and any other person acting therefor.
(b) The term “ enemy territory” shall mean the following:
(i) The territory of Germany, Italy, Japan, Bulgaria, Hungary, and Rumania; and
(ii) The territory controlled or occupied by tlio military, naval or police forces or
other authority of Germany, Italy or Japan.
(iii) The territory so controlled or occupied shall be deemed to be the territory of
Albania; Austria; that portion of Belgium within continental Europe; Bulgaria; that
portion of Burma occupied by Japan; that portion of China occupied by Japan; Czecho­
slovakia; Danzig; that portion of Denmark within continental Europe; Estonia; that
portion of France within continental Europe; French Indo-China; Greece; Hong Kong;
Hungary; Latvia; Lithuania; Luxembourg; British Malaya; that portion of the Nether­
lands within continental Europe; that portion of the Netherlands East Indies occupied
by Japan; Norway; that portion of the Philippine Islands occupied by Japan; Poland;
Rumania; San Marino; Thailand; that portion of the Union of Soviet Socialist Republics
occupied by Germany; Yugoslavia; and any other territory controlled or occupied by
Germany, Italy or Japan.
(c) The term “ The Proclaimed List of Certain Blocked Nationals” shall mean “ The
Proclaimed List of Certain Blocked Nationals” as amended and supplemented, promulgated
pursuant to the President’s Proclamation of July 17, 1941.
(d) The term “ trade or communication with an enemy national” shall mean the sending,
taking, bringing, transportation, importation, exportation, or transmission of, or the attempt
to send, take, bring, transport, import, export or transmit
(i) any letter, writing, paper, telegram, cablegram, wireless message, telephone
message or other communication of any nature whatsoever, or
(ii) any property of any nature whatsoever, including any goods, wares, mer­
chandise, securities, currency, stamps, coin, bullion, money, checks, drafts, proxies,
powers of attorney, evidences of ownership, evidences of indebtedness, evidences of
property, or contracts
directly or indirectly to or from an enemy national after March 18, 1942;
■ rovided, however, that the date November 8, 1942 shall bo substituted for the date of March
p
18, 1942 with respect to trade and communication with those enemy nationals who became
enemy nationals only by reason of the amendment of this general ruling on November 8, 1942.
(3) This general ruling shall not be deemed to affect any outstanding specific license inso­
far as such license expressly authorizes any transaction which involves trade or communication
with any person whose name appears on The Proclaimed List of Certain Blocked Nationals.
(4) Any transaction prohibited by section 3 (a) of the Trading with the enemy Act, as
amended, is licensed thereunder unless such transaction is prohibited pursuant to section 5 (b)
of that Act and not licensed by the Secretary of the Treasury. In this connection, attention is
directed to the General License under section 3 (a) of the Trading with the enemy Act, issued by
the President on December 13, 1941.
[Issued March 18, 1942; amended September 22, 1942, November 8, 1942. The amendment of November
8, 1942, eliminated the words "occupied by Germany or Italy” , following ‘ 'that portion of France within con­
tinental Europe” in paragraph 2 (b) (ii). See General License No. 72, as amended; Public Circulars Nos. 5, IS,
and 19; Public Interpretations Nos. 4, 5, and 9; Press Releases Nos. 31, 32, and 4&
-1




21

Simultaneously -with the issuance of General Ruling No. 11, the Director of Censorship issued Communica­
tions Ruling No. 1, the text of which follows:
(1) By virtue of the authority vested in me by Executive Order No. 8985 (Fed. Reg. Doe. 41-9000)
and T. D. 50536 (Fed. Reg. Doc. 41-9790), the sending or transmitting out of the United States in the
ordinary course of the mail of any letter or other writing, book, or other paper, or though any public tele­
graph or cable service of any telegram, cablegram or wireless message of any communication is permitted,
provided that both of the following conditions are satisfied:
(a) Such communication complies with all regulations issued by the Office of Censorship; and
(b) Such communication is not addressed to or intended for, or to be delivered, directly or indi­
rectly, to an enemy national.
(2) Nothing contained in this Ruling shall be deemed to limit the authority of the Office of Censor­
ship to cause to be censored in its absolute discretion, communication by mail, cable, radio or other means
of transmission passing between the United States and any foreign country. All communications permitted
by this Ruling shall be subject to censorship as fully as if this Ruling had not been issued.
(3) As used in this Ruling the term “ United States” and the term, “ person” shall have the meaning
prescribed in Executive Order No. 8389, as amended, and the term “ enemy national” shall have the mean­
ing proscribed in General Ruling No. 11, issued by the Secretary of the Treasury thereunder.
(4) This Ruling 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
rcspect to, particular persons or communications or classes thereof.
B t h o n P b ic b ,

Director oj Censorship.

TRANSFERS OF PROPERTY IN A BLOCKED ACCOUNT EFFECTED WITHOUT A
LICENSE—LITIGATION INVOLVING BLOCKED PROPERTY
General Ruling No. 12.
(1) Unless licensed or otherwise authorized by the Secretary of the Treasury, (a) any
transfer after the effective date of the Order is null and void to the extent that it is (or was) a
transfer of any property in a blocked account at the time of such transfer; and (b) no transfer
after the effective date of 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 (irrespective of whether such property was in a blocked account at the time of such
transfer).
(2) Unless licensed or otherwise authorized by tho Secretary of the Treasury, no transfer
before the effective date of 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 of the transfer or by any written evidence had recognized such transfer prior to tho
effective date of the Order.
(3) Unless otherwise provided, an appropriate license or other authorization issued by tho
Secretary of the Treasury before, during or after a transfer shall validate such transfer or render
it enforceable to the same extent as it would bo valid or enforceable but for the provisions of
section 5 (b) of the Trading with the enemy Act, as amended, and Order, regulations, instruc­
tions and rulings issued thereunder.
(4) Any transfer affected by the Order and/or this general ruling and involved in, or arising
out of, any action or proceeding in any Court within the United States shall be, so far as affected
by the Order and/or this general ruling, valid and enforceable for the purpose of determining
for the parties to the action or proceeding the rights and liabilities therein litigated; provided,
however, that no attaclunent, 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 blockcd account than the owner of such properly could creato or confer by
voluntary act prior to the issuance of an appropriate license.




(5) For the purposes of this general ruling:
(a) the term “ transfer” shall mean any actual or purported act or transaction, whether
or not evidenced by writing, and whether or not done or performed within the United
States, the purpose, intent, or effect of 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 limitation upon the foregoing shall include the malting, execu­
tion, or delivery of any assignment, power, conveyance, check, declaration, deed, deed of
trust, power of attorney, power of appointment, bill of sale, mortgage, receipt, agreement,
contract, certificate, gift, sale, affidavit, or statement; the appointment of any agent, trus­
tee, or other fiduciary; the creation or transfer of any lien; the issuance, docketing, filing,
or the levy of or under any judgment, decree, attachment, execution, or other judicial or
administrative process or order, or the service of any garnishment: the acquisition of any
interest of any nature whatsoever by reason of a judgment or decree of any foreign coun­
try; the fulfillment of any condition, or the exercise of any power of appointment, power
of attorney, or other power; provided, however, that the term “ transfer” shall not be
deemed to include transfers by operation of law.
(b) the term “ property” includes gold, silver, bullion, currency, coin, credit, securities
(as that term is defined in section 2(1) of the Securities Act of 1933, as amended), bills of
exchange, notes, drafts, acceptances, checks, letters of credit, book credits, debts, claims,
contracts, negotiable documents of title, mortgages, liens, annuities, insurance policies,
options and futures in commodities, and evidences of any of the foregoing. The 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 meaning prescribed in General Ruling
No. 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 of the Order” shall have the meaning prescribed in Gen­
eral Ruling No. 4 except that “ the effective date of the Order” as applied to any person
whose name appears on the Proclaimed List of Certain Blocked Nationals shall be the
date upon which the name of such person first appeared on such list.
(e) the term “ transfer by operation of law” shall be deemed only to mean any transfer
of any dower, curtesy, community property, or other interest of any nature whatsoever,
provided that such transfer arises solely as a consequence of the existence or change of
marital status; any transfer to any person by intestate succession; any transfer to any
person as administrator, executor, or other fiduciary by reason of any testamentary dis­
position; any transfer to any person as administrator, executor, or fiduciary by reason of
judicial appointment or approval in connection with any testamentary disposition or intes­
tate succession; and any transfer pursuant (i) Netherlands Royal Decree of May 24, 1940,
and (ii) Norwegian Provisional Decree of April 22,1940, concerning the monetary system, etc.
(6) Nothing 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 modify any provision thereof.
By direction of the President.
[Issued April 21, 1942.

See Press Release No. S3.]

CERTAIN TRANSFERS OF PROPERTY IN A BLOCKED ACCOUNT 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 of the provisions of General Ruling No. 12. Such transfers shall not




26

be deemed to be null and void, or unenforceable, under General Ruling No. 12, as to the person
with whom such blocked account was held or maintained (and as to such person only) in cases
in which such person is able to establish each of the following:
(a) Such transfer did not represent a wilful violation of the Order by the person with
whom such blocked account was held or maintained;
(b) The person with whom such blocked account was held or maintained did not have
reasonable cause to know or suspect, in view of all the facts and circumstances known or
available to such person, that such transfer was not licensed or authorized by the Secretary
of the Treasury, or if a license did purport to cover the transfer, that such license had been
obtained by misrepresentation or the withholding of material facts or was otherwise
fraudulently obtained; and
(c) Promptly upon discovery that such transfer was in violation of the Order, or was
not licensed or authorized by the Secretary of the Treasury, or if a license did purport to
cover the transfer, that such license had been obtained by misrepresentation or the with­
holding of material facts or was otherwise fraudulently obtained, the person with whom such
blocked account was held or maintained filed with the appropriate Federal Reserve Bank
a report on Form TFR-12A in triplicate setting forth in full the information called for
therein, provided, however, that such report should not be regarded as evidence of 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, no license will be required to validate the authority of any person
to act or purport to act in a transaction directly or indirectly for the benefit or on behalf of 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 of the Treasury or is not
prohibited pursuant to Section 5 (b) of the Trading with the Enemy Act, as amended.
(3) As used in this general ruling, the term “ blocked account” shall have the same meaning
as that prescribed in General Ruling No. 12.
[Issued February 9, 1943.]

PROCEDURE REGARDING APPLICATIONS FOR UNBLOCKING OF CERTAIN
ACCOUNTS AND OTHER PROPERTY
General Ruling No. 13.
(1) This general ruling relates to the procedure to be followed in connection with the filing
of applications for the unblocking of accounts or other property in which applications it is
alleged that no person having an interest in the property involved is a national of a blocked
countiy.
(2) Any interested party is entitled to file such an apphcation. Such apphcation shall be
filed in the manner provided in section 130.3 of the Regulations, and shall contain full informa­
tion in support of the administrative action requested. The apphcation for administrative action
may be filed on Form TFU-1 or on Form TFE-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
apphcation should be attached to and made a part of the apphcation.
(3) The apphcant is entitled to be heard on the application. If the apphcant desires to be
heard on the application, either before or after the Treasury Department has taken action on
such application, he should so notify the Treasury Department. Such notice should contain an
appropriate reference to the apphcation involved and the names of the parties desiring to be
heard with respect to the apphcation.
[Issued May 22, 1942. See Press Release No. 35.]




27

TRANSMITTING OF UNITED STATES CURRENCY TO MEXICO PROHIBITED
General Ruling No. 14.
The sending, mailing, exporting, or otherwise transmitting of any United States currency
out of the United States directly or indirectly to Mexico on and after August 14, 1942 is hereby
prohibited, except as specifically licensed or otherwise authorized by the Secretary of the Treasury.
[Issued August 14, 1942; See Press Releases Nos. 87 and 4t.\

TRANSACTIONS INVOLVING MEXICAN RAILROAD PROPERTY
General Ruling No. 15.
(1) Unless authorized by license issued by the Secretary of the Treasury expressly referring
to this general ruling:
(a) No person shall exercise within the United States any right, remedy, power, or
privilege (by self-help, judicial process,or otherwise), directly or indirectly against or with
respect to any Mexican railroad property; and
(b) Any seizure by attachment or otherwise of Mexican railroad property, and any
judgment, decree, lien, execution, garnishment, or other judicial process against or with
respect to such property is nidi and void.
(2) The provisions of (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 opera­
tion or servicing, within the United States, of Mexican railroad property on or after the date of
this general ruling.
(3) As used in this general ruling, the term “Mexican railroad property” shall include:
(a) All railroad rolling stock and equipment brought into the United States from Mexico
or acquired in the United States by a railroad in Mexico, and with respect to which Mexico
or a national thereof has an interest;
(b) All earnings, income, or other rights, payable to, or in favor of, Mexico or a national
thereof and created by reason of, or otherwise resulting from, the employment or use of
such rolling stock or equipment within the United States after the date hereof.
[Issued February 4, 1943; See Press Release No. 48.]




28

GENERAL LICENSES
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
PAYMENTS TO BLOCKED ACCOUNTS IN DOMESTIC BANKS
General License No. 1 as Amended.
A general license is hereby granted authorizing any payment or transfer of credit to a blocked
account in a domestic bank in the name of any blocked country or national thereof providing
the following terms and conditions are complied 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 of the interest of a blocked country or national thereof to any other
country or person.
(2) This general license shall not be deemed to authorize:
(a) Any payment or transfer to any blocked account held in a name other than that
of the blocked country or national thereof who is the ultimate beneficiary of such payment
or transfer; or
(b) Any foreign exchange transaction including, but not by way of limitation, any
transfer of credit, or payment of an obligation, expressed in terms of the currency of any
foreign country.
This general license should not be employed to make any payment or transfer of credit com­
prising an integral part of a transaction which cannot be effected without the subsequent issuance
of a further license.
[Issued April 30,1940; amended May 10,1940; June 17,1940; July 15,1940; October 10, 1940; June 14,1941,
The scope of General License No. 1 is extended by General License No. 29. See Public Circulars Nos. 2 and 21.]
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.

TRANSFERS OF SECURITIES TO BLOCKED ACCOUNTS IN DOMESTIC BANKS
General License No. 1A.
A general license is hereby granted authorizing transactions ordinarily incident to the transfer
of securities from a blocked account in the name of any person to a blocked account in the same
name in a domestic bank, provided both of the following terms and conditions are complied with:
(1) Such securities shall not be transferred from any blocked account in a domestic
bank;and
(2) Such securities shall not be transferred from any other blocked account if such trans­
fer represents, directly or indirectly, a transfer of the interest of a blocked country or national
thereof to any other countiy or person.
[Issued October 9, 1941. See Public Circulars Nos. 9 and 21; Press Release No. £0.1
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.

ENTRIES IN CERTAIN ACCOUNTS FOR NORMAL SERVICE CHARGES
General License No. 2 as Amended.
(1) A general license is hereby granted:
(a)
Authorizing any banking institution within the United States to debit any blocked
account with such banking institution (or with another office within the United States of such




29

banking institution) in payment or reimbursement for normal service charges owed to such
banking institution by the owner of such blocked account;
(b)
Authorizing any banking institution within the United States to make book entries
against any foreign currency account maintained by it with a banking institution in any
blocked country for the purpose of responding to debits to such account for normal service
charges in connection therewith.
(2) Any banking institution within the United States which during any quarterly period
enters any single item in excess of $50 to any account under the authority of this general license
shall file with the appropriate Federal Reserve Eank at the end of such quarterly period a report
showing the name of such account and the nature and amount of each item in excess of $50 entered
to such account under the authority of 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
of limitation, minimum balance charges, account carrying charges, notary and protest fees, and
charges for reference books, photostats, credit reports, transcripts of 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; December 11,1941. The scope of General License No. 2 is extended by General License No. 29.]
Attention is directed to General Ruling No. 11, which imposes an additional restriction on every license
and other authorization, by proliibiting any transaction thereunder which directly or indirectly involves any
trade or communication with an enemy national as therein defined.

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO APRIL 8,
1940 FROM ACCOUNTS OF NORWAY AND DENMARK AND THEIR NATIONALS,
AND OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO M AY 10, 1940,
FROM ACCOUNTS OF NETHERLANDS, BELGIUM AND LUXEMBOURG AND
THEIR NATIONALS
General License No. 3 Revoked.
[Issued May 10, 1940; amended May 17, 1940; revoked June 13, 1940.]

SALE OF CERTAIN SECURITIES
General License No. 4 as Amended.
A general license is hereby granted authorizing the bona fide sale of securities on a national
securities exchange by banking institutions within the United States for the account, and pursuant
to the authorization, of nationals of any of the foreign coimtries designated in Executive Order
No. 8389 of April 10,1940, as amended, and the making and receipt ofpayments, transfers of credit,
and transfers of such securities which are necessary incidents of any such sale, provided that:
(a) the proceeds of the sale are credited to an accoimt in the name of the national for
whose account the sale was made and in tho 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 regis­
tered or inscribed in the name of any of the foreign countries designated in Executive Order
No. 8389 of April 10, 1940, as amended, or any national thereof, irrespective of the fact that
at any time (whether 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 of
the security.
Each banking institution making any sales herein authorized is required to file promptly with
the appropriate Federal Reserve Bank weekly reports showing the details of the transactions,
including a description of the securities sold, the dates of sales, the persons for whose account the
sales were made, and the prices obtained.




This amendment of General License No. 4 shall not be deemed to prevent the completion on
or prior to June 6, 1940, of purchases and sales, which were made prior to June 4,1940, pursuant to
General License No. 4, of securities other than securities registered or inscribed in the name of
any of the foreign countries designated in Executive Order No. 8389 of April 10,1940, as amended,
or any national 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 instrumentalities 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.
[Issued May 10, 1940; amended June 3, 1940; June 17, 1940; July 15, 1940; August 8, 1940; October 10, 1940;
September 22, 1942. The scope of General License No. 4 is extended by General License No. 29. See Public
Circulars Nos. 9, 14, 19, and 21; Press Releases Nos. 20, 26, and 40.]
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.

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 United States or any agency or instrumentality thereof, or to any state, terri­
tory, 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.
[Issued May 10, 1940; amended June 17, 1940; July 15, 1940; October 10, 1940; June 30, 1941; September
22, 1942. The scope of General License No. 5 is extended by General License No. 29. See Public Circular No. 19;
Press Release No. 40.]
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.

PAYMENTS FROM ACCOUNTS OF GOVERNMENT OF THE NETHERLANDS
General Lieense No. 6 Revoked.
[Issued May 13, 1940; revoked May 16, 1940.]

PAYMENTS FROM ACCOUNTS OF GOVERNMENT OF BELGIUM
AND BANQUE NATIONALE DE BELGIQUE
General License No. 7 Revoked.
[Issued May 13, 1940; revoked June 26, 1940.]

PAYMENTS FROM ACCOUNTS OF CERTAIN NETHERLANDS BANKS
General License No. 8 Revoked.
[Issued May 13, 1940; revoked May 16, 1940.]

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.]




31

PAYMENTS FROM ACCOUNTS OF CERTAIN BELGIAN BANKS
General License No. 10 Revoked.
[Issued May 14, 1940; amended May 20, 1940; revoked June 25, 1940.]

PAYMENTS FOR LIVING, TRAVELING AND SIMILAR PERSONAL EXPENSES IN THE
UNITED STATES
General License No. 11 as Amended.
A general license is hereby granted authorizing payments and transfers of credit in the United
States from accounts in banking institutions within the United States in which a national of
any of the foreign countries designated in Executive Order No. 8389 of April 10,1940, as amended,
has a property interest within the meaning of the Executive Order of April 10, 1940, as amended,
and the Regulations issued thereunder, to or upon the order of the person in whose name the
account is held, provided that (a) the banking institution making any such payments or trans­
fers of credit satisfies itself that such payments and transfers of credit are needed for living,
traveling, and similar personal expenses in the United States, (b) such payments and transfers
of credit by such banking institution do not exceed $500 in any one month to or for the account
of any one depositor, and (c) each banking institution making any such payments or transfers
of credit shall file promptly with the appropriate Federal Reserve bank monthly reports showing
the details of such payments and transfers of credit.
[Issued May 15, 1940; amended June 17, 1940; July 15, 1940; October 10, 1940.]
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.

LIVING AND PERSONAL EXPENSES OF JAPANESE NATIONALS IN UNITED STATES
General License No. 11A Revoked.
[Issued December 11, 1941; revoked September 22, 1942; See Public Circular No. 19.]

ACCESS TO SAFE DEPOSIT BOXES
General License No. 12 as Amended.
A general license is hereby granted authorizing access to safe deposit boxes leased by any of
the foreign countries designated in Executive Order No. 8389 of April 10, 1940, as amended, or a
national thereof within the meaning of the Executive Order of April 10, 1940, as amended, and
the Regulations issued thereunder, or containing property in which any of the foregoing has an
interest of any nature whatsoever, direct or indirect, and the deposit therein or removal there­
from of any property, but in each case only on the following terms and conditions:
(1) Such access shall be permitted only in the presence of an authorized representative
of the lessor of such box;
.
(2) In the event that any money or evidences of indebtedness or evidences of ownership
of property are to be removed from such box, such access shall be permitted only in the
presence of an authorized representative of a banking institution within the United States,
which may be the lessor of such box, which receives into its custody immediately upon
removal from such box the money or evidences of indebtedness or evidences of ownership
of property removed from such box and which holds the same subject to the Executive Order
of April 10, 1940, as amended, and the Regulations issued thcrcuuder, for the account of the
lessee of such box and subject to the property interests therein as of the respective dates
specified in such Order, as amended, of the foreign countries designated in such Order, as
amended, or any national thereof;
(3) In the event that any money or evidences of indebtedness or evidences of ownership
of property are removed from such box the banking institution which receives into its custody




32

any money or evidences of indebtedness or evidences of ownership of property removed from
such box shall file promptly with the appropriate Federal Reserve bank a report showing the
details of the transactions; and
(4)
The lessee of such box or other person granted access to such box shall furnish to
the lessor of such box a certificate in triplicate, one copy of which shall be executed under
oath, that ho has filed or will promptly file a report on Form TFR-300 with respect to such
box and the contents thereof; and the lessor of such box shall deliver the sworn copy of
such certificate, and one conformed copy thereof, to the appropriate Federal Reserve bank.
[Issued May 20, 1940; amended June 17, 1940; July IS, 1940; October 10, 1940; July 8, 1941. See Public
Circular No. 9; Press Release No. SO.]
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 indircctly involves any trade
or communication with an enemy national as therein defined.

CERTAIN OFFICES OF CERTAIN NETHERLANDS BANKS— GENERALLY LICENSED
NATIONALS
General License No. 13 as Amended.
(1) A general license is hereby granted licensing as generally licensed nationals:
(a) The Bombay and Calcutta offices of the Nederlandsch Indische Handelsbank;
(b) The Djeddah, Calcutta and Bombay offices of the Nederlandsche Handel Maatscliappij.
Any transaction engaged in by any such office of any such bank pursuant to the order of or for
the account of any other national of the Netherlands is also hereby authorized to the same
extent, and under the same circumstances, as though such transaction were solely for the account
of such office of such bank; provided, however, that this authorization shall not be deemed to
permit any payment, transfer or withdrawal from any blocked account.
[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. See Public Circulars Nos.
10, 11, 13, 16, 17, and 19; Press Releases Nos. £2, S3, and SO.]
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.

CERTAIN OFFICES

OF CERTAIN BANKS IN NETHERLANDS WEST INDIES—
GENERALLY LICENSED NATIONALS

General License No. 14 as Amended.
(1) A general license is hereby granted licensing as generally licensed nationals:
(a) The Willemstad (Curacao) offices of:
(i) The Curacaosche Bank;
(ii) The Maduro & Curiel’s Bank;
(iii) The Edwards Henriquez & Co.; and
(b) The Oranjestad (Aruba) office of the Aruba Bank.
Any transaction engaged in by any such office of any such bank pursuant to the order of or for
the account of any other national of the Netherlands is also hereby authorized to the same extent,
and under the same circumstances, as though such transaction were solely for the account of
such office of such bank: Provided, however, That this authorization shall not be deemed to permit
any payment, transfer, or withdrawal from any blocked account.
llssued June 4, 1940; amended June 7, 1941; January 20, 1942. See Public Circular No. IS.]
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.




S3

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 importing and exporting of goods, wares and merchandise between the United States and
the Netherlands West Indies, provided the following terms and conditions are complied with:
(a) Imports and exports between the United States and the Netherlands West 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 West 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 of the Order.
[Issued June 4, 1940; amended June 7, 1941; January 20, 1942; March 13, 1942. See Public Circulars Nos.
3, IS, and 17; Press Release No. SO.]
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.

EXTENSION TO FRANCE OF CERTAIN GENERAL LICENSES
General License No. 16 Revoked.
[Issued June 17, 1940; revoked June 30, 1941.]

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO JUNE 17, 1940,
FROM ACCOUNTS OF FRANCE AND ITS NATIONALS
General License No. 17 Revoked.
[Issued June 17, 1940; amended July 20, 1940; revoked August 8, 1940.]

NEW YORK OFFICE OF FRENCH AMERICAN BANKING CORPORATION—
GENERALLY LICENSED NATIONAL
General License No. 18 as Amended.
A general license is hereby granted licensing the New York Office of the French American
Banking Corporation as a generally licensed national.
[Issued June 18, 1940; amended June 7, 194!.]
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.

CERTAIN SOUTH AMERICAN, WEST INDIAN, AND NEAR EASTERN OFFICES OF
CERTAIN NETHERLANDS BANKS— GENERALLY LICENSED NATIONALS
General License No. 19 as Amended.

(1) A general license is hereby granted licensing as generally licensed nationals:
(a)
(b)
(c)
(d)

The Buenos Aires, Caracas, and Maracaibo offices of Banco Holandes Unido;
The Rio de Janeiro, Santos, and Sao Paulo offices of Banco Hollandcz Unido;
The Willemstad and Oranjestad offices of Hollandsche Bank-Unie; and
The Haifa and Istanbul offices of Holland Bank Union.

Any transaction engaged in by any such offico of any such bank pursuant to the order of or for
the account of any other national of the Netherlands is also hereby authorized to the same extent,




34

and under the same circumstances, as though such transaction were solely for the account of
such oflice of such bank: Provided, howzver, Tliat this authorization shall not be deemed to
permit any payment, transfer, or withdrawal from any blocked account.
[Issued Juno 18, 1940; amended June 27, 1940; July 6, 1940; June 7, 1941; January 20, 1942. See Public
Circular No. 13.]
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.

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 United States
to make all payments, transfers, and withdrawals from accounts in the name of any individual
who is a citizen of the United States and who is domiciled in, or resident of, the Netherlands West
Indies; provided that no foreign country named in Executive Order No. 8389, as amended, or any
national thereof (other than such citizen of the United States) has, or has had at any time
(whether prior to, on, or subsequent to, April 10, 1940), any interest of any nature whatsoever,
direct or indirect, in such account.
[Issued June 19, 1940; amended July 8, 1941; March 13, 1942; September 22, 1942. See Public Circulars
Nos. 17 and 19; Press Releases Nos. SO and 40.]
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.

NETHERLANDS TRADING SOCIETY EAST, LTD., AND NETHERLANDS TRADING
SOCIETY EAST, INC.— GENERALLY LICENSED NATIONALS
General License No. 21 as Amended.
(1)
A general license is hereby granted licensing the Netherlands Trading Society East,
Ltd., London and the Netherlands Trading Society East, Inc., Delaware as generally licensed
nationals. Any transaction engaged in by the Netherlands Trading Society East, Ltd., London
pursuant to the order of or for the account of any other national of the Netherlands, or by the
Netherlands Trading Society East, Inc., Delaware pursuant to the order of or for the account
of any person in the Netherlands West Indies, is also hereby authorized to the same extent, and
under the same circumstances, as though such transaction were solely for the account of such
banking institutions; provided, however, that this authorization shall not be deemed to permit
any payment, transfer or withdrawal from any blocked account.
[Issued June 21,1940; amended July 20, 1940; June 7, 1941; January 20, 1942; March 13, 1942. See Public
Circulars Nos. IS and 17; Press Release No. SO.]
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 directjy at indirectly involves any trade
or communication with an enemy national as therein defined.

LONDON AND NEW YORK OFFICES OF BANQUE BELGE POUR L’ETRANGER
(OVERSEAS), LIMITED—GENERALLY LICENSED NATIONALS
General License No. 22 as Amended.
A general license is hereby granted licensing the London and New York offices of the Banque
Beige pour l’Etrangcr (Overseas), Limited, as generally licensed nationals. Any transaction
engaged in by the London office of such bank pursuant to the order of or for the account of any
other national of Belgium is also hereby authorized to the same extent, and under the same
circumstanccs, as though such transaction were solely for the account of such office of such bank;




35

provided, however, that this authorization shall not be deemed to permit any payment, transfer,
or withdrawal from any blocked account.
(Issued June 27, 1940; amended June 7, 1941.]
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.

EXTENSION TO LATVIA, ESTONIA, AND LITHUANIA OF CERTAIN GENERAL
LICENSES
General License No. 23 Revoked.
[Issued July 15, 1940; revoked June 30, 1941.]

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO JULY 10,
1940, FROM ACCOUNTS OF LATVIA, ESTONIA, AND LITHUANIA AND
THEIR NATIONALS
General License No. 24 Revoked.
[Issued July 15, 1940; revoked August 28, 1940.]

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) of Executive Order No. 8389, of
April 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 previously 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 of any provision (or ruling or regulation thereunder) of such Order other
than section 2A (1).
[Issued July 25, 1940; amended June 30, 1941.]
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.

TRANSACTIONS IN CERTAIN AMERICAN DEPOSITARY RECEIPTS AND
AMERICAN SHARES
General License No. 26 as Amended.
A general license is hereby granted under section 2A (2) of Executive Order No. 8389, of
April 10, 1940, as amended, authorizing the acquisition by, or transfer to, any person within the
United States of any interest in any American Depositary Receipt or American Share physically
situated within the United States representing any security or evidence thereof not physically
situated within the United States which Receipt 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 of American Depositary Receipts or American Shares
against the deposit after July 25,1940, of any security or evidence thereof not physically situated
within the United States; and, provided that this general license shall not be deemed to authorize
any transaction prohibited by reason of any provision (or ruling or regulation thereunder) of such
Order other than section 2A (2).
[Issued August 2, 1940; amended July 8, 1941.]
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.




36

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) The payment to, and receipt by, a banking institution within the United 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 of the national for whose account the securities
were held, and in the banking institution within the United States which held such securities;
and
(2) The payment to, and receipt by, a banking institution within the United States of
funds payable in respect of securities (including coupons) presented by such banking insti­
tution to the proper paying agents within the United States for redemption or collection for
the account and pursuant to the authorization of nationals of any blocked country, provided
that:
(a) The proceeds of the redemption or collection are credited to a blocked account
in the name of the national for whose account the redemption or collection 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 presentment for
redemption of any security registered or inscribed in the name of any blocked country,
or any national thereof, irrespective of the fact that at any time (whether 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 of the security;
and
(3) The performance of such other acts, and the effecting of such other transactions,
as may be necessarily incident to any of 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. The scope of General License No. 27 is
extended by General License No. 29. See Public Circulars Nos. 9, 13 and SI; Public Interpretation No. 1; Press
Release No. 20.)
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.

INDIVIDUALS WHO 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 indi­
vidual who is:
(a) a citizen of the United States and residing only in the United States; and
(b) a national of any foreign country solely by reason of having been domiciled or resi­
dent therein on or since the effective date of the Order;
provided, however, that this liccnse shall not be deemed to license as a generally licensed national
any individual citizen of the United States who is a national of a foreign country by reason of
any fact other than that such individual has been domiciled or resident in such foreign country
on or since such effective date.




37

(2) Reports on Form TFR-300 are not required to be filed with respect to the property inter­
ests of any individuals licensed herein as generally licensed nationals.
(3) This 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 of General Ruling
No. 5, as supplemented, 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.]
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.

APPLICATION OF CERTAIN GENERAL LICENSES TO GENERAL RULING NO. 6
ACCOUNTS
General License No. 29 as Amended.
The provisions of the following general licenses are hereby made applicable to General Rul­
ing No. 6 accounts to the extent that such general licenses are not otherwise applicable by reason
of their specifying blocked accounts or accounts of blocked countries or nationals thereof:
General License No. 1
General License No. 2
General License No. 4
General License No. 5
General License No. 27
Provided, however, that this general license shall not be deemed to authorize the removal of any
coupons for collection or otherwise from any General Ruling No. 6 account unless the bonds to
which such coupons relate are in such General Ruling No. 6 account.
[Issued August 9, 1940; amended June 27, 1941; November 6, 1942.]

PAYMENTS

FROM,

AND

TRANSACTIONS IN THE
CERTAIN TRUSTS

ADMINISTRATION

OF,

General License No. 30.
A general license is hereby granted authorizing any bank or trust company incorporated under
the laws of the United States or of any state, territory or district of the United States, or any pri­
vate bank subject to supervision and examination under the banking laws of any state of the
United States, acting as trustee of any trust administered in the United States or as legal repre­
sentative of any estate administered in the United States, in which trust or estate one or more
persons who are nationals of one of 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 following transactions:
(a) payments of distributive shares of principal or income to all persons legally entitled
thereto who are not nationals of any of the foreign countries designated in such Executive
Order, as amended; and
(b) other transactions arising in the administration of 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 of such trust or estate;
'provided, however, that this general license shall not be deemed to authorize such trustee or legal
representative to engage in any transaction at the request, or upon the instructions, of any bencficiary, co-trustee or co-representative of such trust or estate or other person who is a national of
any of the foreign countries designated in such Executive Order, as amended.
ilssued August 14, 1940. See Public Circular No. 9; Press Release No. 20. General License No. 30 is inappli­
cable to the administration of decedents’ estates. See Public Circular No. SO.]
Attention is directed to the provisions of Alien Property Custodian General Order No. 20 pertaining to tlifi




38

payment, transfer or distribution to or for the benefit of any “ designated enemy country” or “ designated
national” of property in the process of administration by any person acting under judicial supervision, or in
court or administrative proceedings.
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 au 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 admin­
istration of the assets situated within the United States of any blocked estate in which any one
of the following conditions is present:
(a) The decedent was not a national of a blockcd country at the time of his death;
(b) The decedent was a citizen of the United States and a national of a blocked country
at the time of his death solely by reason of his presence in a blocked country as a result
of his employment by or service with the United States Government; or
(c) The gross value of the assets within the United States does not exceed $5,000;
'provided, however, that any property paid or distributed to a national of a blocked country
pursuant to this general license shall be subject to all the provisions of the Order, and provided,
further, that any payment or distribution of any fund s, securities or other choses in action to a
national of 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 of
the estate (i) in the name of the national who is the ultimate beneficiary thereof; (ii) in the
name of a person who is not a national of 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
of such national.
(2) This general license also authorizes all transactions incident to the following limited
acts of administration of the assets situated within the United States of any other blocked
estate:
(a) The appointment and qualification of a personal representative;
(b) The collection and preservation of such assets by such personal representative and the
payment of all costs, fees and charges in connection therewith; and
(c) The payment by such personal representative of funeral expenses and expenses of
the last illness.
(3) This general license shall not be deemed to authorize:
(a) Any national of a blockcd country to act as personal representative or co-representative
of any estate;
(b) Any national of a blocked country to represent, directly or indirectly, any person
who has an interest in an estate;
(c) Any transaction directly or indirectly at the request or upon the instructions of any
national of a blocked country; or
(d) Any transaction which could not be effected if no national of 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 of 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) This general license 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 this
general license.




39

(6) Any transfer or other dealing in any property authorized under this general license
shall not be deemed to limit or restrict the exercise of any power or authority under section 5 (b)
of the Trading with the Enemy Act, as amended.

(7) Attention is directed to the provisions of Public Circular No. 20.
tissued October 23, 1942. See Public Circular No. H .]
O
Attention is directed to the provisions of Alien Property Custodian General Order No. 20 pertaining to the
payment, transfer or distribution to or for the benefit of any “ designated enemy country" or “ designated
national” of property in the process of administration by any person acting under judicial supervision, or in court
or administrative proceedings.

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.
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 tho United States
to dctach coupons from securities of the type referred to in section 2A (1) of Executive Order
No. 8389, as amended, when such securities have been in the custody or possession of such bank­
ing 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 tho fact that Treasury Department Form TFELr-2 may not
have been previously attached to the securities from which such coupons are detached.

This general license shall not be deemed to authorize any transaction prohibited by reason
of any provision (or ruling or regulation thereunder) of such Order other than section 2A (1).
[Issued August 28, 1940; amended July 8, 1941.]
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.

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 national .of a blocked country and who is within
any foreign country, and any domestic bank is authorized to effect such remittances, provided the
following terms and conditions are complied with:
(a) Such remittances are made only for the necessary living expenses of the payee
and his household and do not exceed $500 in any one calendar month to any one household;
;provided, however, that if the payee is within Portugal, Spain, Finland, Sweden, or Switzer­
land and such payee is a national of any blocked country other than Portugal, Spain, Finland,
Sweden, or Switzerland, the total of all remittances effected in any calendar month under
•this general license may not exceed $100 to such payee and his household, except that addi­
tional sums not exceeding $25 in any one calendar month may be remitted for oach member
of such payee’s household in addition to the payee, provided that in no case shall a sum in
excess of $200 per calendar month 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 banking institution within the United States in the name of, or in which the beneficial
interest is held by, the payee or members of his household;




(c) If the payee is within any blocked country, the remittance may be effected only:

(i) By the payment of the dollar amount of tho remittance to a domestic bank for
credit to a blocked account in the name of a banking institution within such country; or
(ii) By the acquisition of foreign exchange from a person in the United States having
a license specifically authorizing the sale of such exchange.

40

(d)
If the payee is within any foreign country other than a blocked country the remit­
tance may be effected in the same manner that such remittance would be effected if the payee
were not a national of a blocked country.

(2) All individuals making such remittances and all domestic banks effecting such remit­
tances shall satisfy themselves that the foregoing terms and conditions are complied with,
(3) Domestic banks through which any such remittances originate shall execute promptly
Section A of Form TFR-132 in triplicate with respect to each such remittance. When so
executed, such copies of Form TFR-132 shall be forwarded promptly to the domestic bank ulti­
mately transmitting abroad (by cable or otherwise) the payment instructions for such remittance
and the latter bank shall, upon the receipt thereof, execute Section B of such copies of Form
TFR-132 and promptly fde such executed report in triplicate with the appropriate Federal
Reserve Bank. If the domestic bank through which any such remittance originates is also the
bank ultimately transmitting abroad the payment instructions for such remittance, then such
bank shall execute both Sections A and B of such report. No report on Form TFR-132 shall
be deemed to have been filed in compliance 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) Those individuals sharing a common dwelling as a family; or
(b) Any individual not sharing a common dwelling with others as a family.
[Issued August 30, 1940; amended February 1, 1941; October 23, 1941; February 9, 1943. See Public
Circulars Nos. 7 and 7A ; Public Interpretations Nos. 6, 7 and 8; Press Releases Nos. 14 and 38.]
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.

CERTAIN REMITTANCES TO UNITED STATES CITIZENS IN FOREIGN C O U N T R Y
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 of the United States within any foreign
country and any domestic bank is authorized to effect such remittances, provided the following
terms and conditions are complied with:
(a) Such remittances do not exceed $300 in any one calendar month to any payee and his
household and are made only for the necessary living and traveling expenses of the payee
and his household, except that an additional sum not exceeding $1000 may be remitted once
to such payee if such sum will be used for the purpose of enabling the payee or his house­
hold to return to the United States;
(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, the payee or members of his household.
(2) Remittances herein authorized shall be effected pursuant to the terms and conditions of
(c) or (d), as the case may be, under (I) of General License No. 32. If remittances cannot be
effected pursuant to (c) under (1) of General License No. 32, domestic banks arc authorized to
effect such remittances in any of the following three ways:
(a) By establishing or maintaining free dollar accounts;

(b) By payment of the dollar amount of the remittance to a domestic bank for credit to
a blocked account in the name of a banking institution within any blocked country; or
(c) By payment of the dollar amount of the remittance to a domestic bank for credit to
the dollar account of a banking institution which is not a national of any blocked country.
(3) All individuals making such remittances and all domestic banks effecting such remit­
tances shall satisfy themselves that the foregoing terms and conditions are complied with.
(4) With respect to each remittance made pursuant to this general license, reports on Form




41

TFR -132 shall be executed and filed in the manner and form and under the conditions prescribed
in General License No. 32.
(5)
As used in this general license the term "household” shall be deemed to have the mean­
ing prescribed in General License No. 32.
[Issued September 10, 1940; amended February 1, 1941; October 23, 1941. See Public Circulars Nos. 7 and
7A ; Public Interpretations Nos. 6 and 7; Press Releases Nos. 14 and 35.]
Attention is directed to General Ruling No. II, 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.

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
No. 8389 of April 10, 1940, as amended, are hereby further amended so that as of the dato
hereof there shall be substituted for the words “ Norway, Denmark, the Netherlands, Belgium,
Luxembourg, France, Latvia, Estonia or Lithuania,” wherever, they appear in such general
licenses, the words “ any of the foreign countries designated in Executive Order No. 8389 of
April 10, 1940, as amended.”
General License No. 12, as amended, issued under Executive Order No. 8389, of April 10,
1940, as amended, is hereby further amended by substituting the following for subdivision 2

thereof:
(2)
In the event that any money or evidences of indebtedness or evidences of owner­
ship of property are to be removed from such box, such access shall be permitted only in the
presence of an authorized representative of a banking institution within the United States,
which may be the lessor of such box, which receives into its custody immediately upon
removal from such box the money or evidences of indebtedness or evidences of ownership of
property removed from such box and which holds the same subject to the Executive Order of
April 10, 1940, as amended, and the Regulations issued thereunder, for the account of the
lessee of such box and subject to the property interests therein as of the respective dates
specified in such Order, as amended, of the foreign countries designated in such Order, as
amended, or any national thereof;
[Issued October 10, 1940. The text of each general license referred to in General License No. 34, as set
forth in this publication, was revised to give effect to the amendments set forth in General License No. 34.]

PAYMENT OF CHECKS AND DRAFTS DRAWN 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.J

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO MARCH 4,1941,
FROM ACCOUNTS OF BULGARIA AND ITS NATIONALS
General License No. 36 Expired.
[Issued March 4, 1941; expired April 4, 1941.J

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 of citizens of tho
United States while such citizens are within any foreign country in the course of their employ­
ment by the Government of the United States.
[Issued March 12, 1941; amended November 25, 1942.]
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.




42

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO MARCH 13,1941,
FROM ACCOUNTS OF HUNGARY AND ITS NATIONALS
General License No. 38 Expired.
[Issued March 13, 1941; expired April 13, 1941.]

PAYMENT OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO MARCH 24,1941,
FROM ACCOUNTS OF YUGOSLAVIA AND ITS NATIONALS
General License No. 39 Expired.
[Issued March 24, 1941; expired April 24, 1941.]

NEW YORK OFFICES OF CERTAIN GREEK CONTROLLED BANKS— GENERALLY
LICENSED NATIONALS
General License No. 40 as Amended.
A general license is hereby granted licensing as generally licensed nationals the New York
offices of:
(a) the Hellenic Bank Trust Company;
(b) the Bank of Athens Trust Company; and
(c) the Bank of Athens Safe Deposit Company of New York.
Issued April 28, 1941; amended June 7, 1941.]
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.

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.]

CERTAIN INDIVIDUALS RESIDING IN UNITED STATES ON FEBRUARY 23, 1942,
AND CERTAIN CORPORATIONS AND OTHER ORGANIZATIONS— GENERALLY
LICENSED NATIONALS. FILING OF REPORTS ON FORM 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 United
States on February 23, 1942, and
(b) Licensing as a generally licensed national any partnership, association, corporation,
or other organization which is a national of a foreign country designated in tho Order solely
by reason of the interest therein of a person or persons licensed as generally licensed nationals
pursuant to this general license.
(2) The following provisions shall govern the filing of reports under this general license:
(a)
Before effecting any transaction pursuant to this general license, the following per­
sons licensed herein as generally licensed nationals shall file a report in triplicate on Form
TFR -42 with the appropriate Federal Reserve Bank:




(i) Every individual who was not residing in the United 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 of an individual or individuals referred to in (i) above.
43

Any person failing to comply 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 TFR-42.
(c) This general license shall not be deemed to suspend, cancel, or otherwise modify in
any way the requirements of the Order and regulations relating to reports on Form TFR-300
with respect to the property interests of certain persons licensed herein as generally licensed
nationals; provided, however, that if reports on TFR-300 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) This general license shall not be deemed to license as a generally licensed national:
(a) Any individual 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;
(b) Any individual who is a national of a blocked country by reason of any fact other
than that such individual has been domiciled in, or a subject, citizen, or resident of a blocked
country at any time on or since the effective date of the Order;
(c) Any individual who enters a blocked country after February 23, 1942; or
(d) Any national of Japan. Nationals of Japan shall continue to be governed by the
provisions of General License No. 68A insofar as General License No. 68A may be applicable.
[Issued June 14, 1941; amended February 23, 1942. See Press Releases Nos. 10, 16, and 28.}
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.

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.]

NEW YORK OFFICES OF CERTAIN SWISS BANKING INSTITUTIONS—
GENERALLY LICENSED NATIONALS
General License No. 43.
A general license is hereby granted licensing the following as generally licensed nationals;
(a) Swiss American Corporation, New York; and
(b) The New York agencies of:
(i) Credit Suisse; and
(ii) Swiss Bank Corporation.
[Issued June 14, 1941.]
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.

ROMAN CURIA— GENERALLY LICENSED NATIONAL
General License No. 44.
The Roman Curia (or Curia Romana) of the Vatican City State is hereby licensed as a gen­
erally licensed national and all persons to the extent that they are acting for and on behalf of the
Vatican City State are hereby licensed as generally licensed nationals.
[Issued June 14, 1941.]
Attention is directed to General Ruling No. II, which imposes an additional restriction on every license anti
other authorization, by prohibiting any transaction thereunder which directly or indirectly involves any trade
or communication with an enemy national as therein defined.




44

PAYMENT OF DOCUMENTARY DRAFTS DRAWN UNDER CERTAIN LETTERS OF
CREDIT ISSUED PRIOR TO JUNE 14, 1941, FROM BLOCKED ACCOUNTS OTHER
THAN THOSE OF FOREIGN COUNTRIES, OR NATIONALS THEREOF, DESIG­
NATED IN ORDER PRIOR TO JUNE 14, 1941
General License No. 45 Revoked.
[Issued June 14, 1941; amended July 15, 1941; revoked August 1, 1941.]

PAYMENT OF CERTAIN SALARIES FROM BLOCKED ACCOUNTS OF COMMERCIAL
ORGANIZATIONS IN DOMESTIC BANKS
General License No. 46 Expired.
[Issued June 14, 1941; expired July 15, 1941.]

BANCO DI NAPOLI TRUST COMPANY OF NEW YORK— GENERALLY
LICENSED NATIONAL
General License No. 47 Revoked.
[Issued June 14, 1941; revoked December 11, 1941.]

BANCO DE NAPOLI TRUST COMPANY, CHICAGO— GENERALLY
LICENSED NATIONAL
General License No. 47A Revoked.
[Issued June 14, 1941; revoked December 11, 1941.]

COMPLETION OF SECURITIES TRANSACTIONS COMMENCED PRIOR TO 11 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.)

TRANSACTIONS ON BEHALF OF, OR INVOLVING PROPERTY OF, SWEDEN AND ITS
NATIONALS
General License No. 49 as Amended.
(1) A general licensc 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 Sweden,
or any national thereof, or (ii) such transaction involves property in which Sweden, or any
national thereof, lias at any time on or since the effective date of the Order had any interest,

; rovided, that:
p
(a) Such transaction is not by, or on behalf of, or pusuant to the direction of any blocked
country or any national thereof, other than Sweden or any national of Sweden; and
(b) Such transaction does not involve property in which any blocked country or any
national thereof, other than Sweden or any national of 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 of the
Government of Sweden or the Sveriges Riksbank, such transaction shall not be effected
until a representative in New York, New York, of the Swedish Legation, designated for such
purpose by the Minister of Sweden to the United States, has certified in writing that the
Government of Sweden has determined that such transaction complies with the conditions
of paragraphs (a) and (b) above.
(2) This license shall not be deemed to permit any payment, transfer or withdrawal from
any blocked account other than blocked accounts in the name of the Government of Sweden




45

or the Sveriges Riksbank, until the said representative in New York, New York, of the Swedish
Legation has certified, with respect to the transaction, as provided in paragraph (1) (c) above.
(3) This general license shall not apply with respect to any national of Sweden who is also
a national of any other blocked country.
(4) 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 tho United States shall also file monthly reports on Form
TFER-1 with the appropriate Federal Reserve Bank indicating the total of all debits and, sepa­
rately, the total of all credits effected pursuant to the provisions of this general license.
(5) As used in this general license, the “ Government of Sweden” shall include the govern­
ment of any political subdivisions (territories, dependencies, possessions, states, departments,
provinces, counties, municipalities, districts or other places subject to the jurisdiction thereof),
or any political agency or instrumentality of the government.
[Issued June 20, 1941; amended February 18, 1942. See Public Circulars Nos. IS, 14, and 15; Public Inter­
pretations Nos. 8 and 6; Press Releases Nos. 1, S, 86, and 88. General License No. 49 is inapplicable to the
administration of decedents’ estates. See Public Circular No. SO.]
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.

TRANSACTIONS ON 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 of
the Order, if such transaction is by, or on behalf of, or pursuant to the direction of the Government
of Switzerland or the Banque Nationale Suisse, provided, that:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction of any
blocked countiy or any national thereof, other than Switzerland or a national of Switzer­
land; and
(b) Such transaction does not involve property in which any blocked country or na­
tional thereof, other than Switzerland or any national of Switzerland, has at any time on or
since the effective date of the Order had any interest.
Any transaction engaged in by the Government of Switzerland or the Banque Nationale Suisse
pursuant to the order or for the account of any other national of Switzerland is also hereby author­
ized to the same extent, and under the same circumstances, as though such transaction were
solely for the account of the Government of Switzerland or the Banque Nationale Suisse.
(2) This general license shall not be deemed to permit any payment, transfer, or withdrawal
from any blocked account, other than blocked accounts in the name of the Government of Switzer­
land or the Banque National Suisse, except as provided in paragraph (3) of this general license.
(3) ThiB general license also authorizes any payment or transfer of credit or transfer of
securities from a blocked account in which any national of Switzerland has an interest to a blocked
account in a domestic bank in the name of the Banque National Suisse, if, prior to any such pay­
ment 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 of credit or transfer of securities from a blocked account in




46

■w
hich any national of a blocked country, other than Switzerland, has an interest, or has had an
interest at any time on or since the effective date of the Order.
(4) This general license shall not apply with respect to any national of Switzerland 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 blockcd 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.
(6) As used in this general license, the “ Government of Switzerland” shall include the gov­
ernment of 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 of the government.
[Issued June 20,1941; amended February 18,1942. See Public Circulars Nos. 12, 14, and IB; Public Interpre­
tations Nos. 8 and 6; Press Releases Nos. 1, 2, 26, and 88. General License No. 50 is inapplicable to the adminis­
tration of decedents’ estates. See Public Circular No. 20.]
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.

UNION OF SOVIET SOCIALIST REPUBLICS— GENERALLY LICENSED COUNTRY
General License No. 51.

(1) A general license is hereby granted licensing the Union of Soviet Socialist Republics as
a generally licensed country.
(2) As used in this general license:
Any 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 desig­
nated in the Order.
[Issued June 24, 1941. See Press Releases Nos. 1 and S.]
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.

TRANSACTIONS ON BEHALF OF, OR INVOLVING PROPERTY OF, SPAIN AND ITS
NATIONALS
General License No. 52 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 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 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 Spain or any national of Spain; and
(b) Such transaction docs not involve property in which any blocked country or any
national thereof, other than Spain or any national of Spain, 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
Instituto Espanol de Moneda Extranjera, such transaction shall not be effected until the




17

Instituto Espanol de Moneda Extranjera has certified in writing that the Instituto Espanol
de Moneda Extranjera has determined that such transaction complies with the conditions
of paragraphs (a) and (b) above.
(2) This general liccnsc also authorizes any payment or transfer from a blocked account in
which any national of Spain has an interest to a blocked account in a domestic bank in the name
of the Instituto Espanol de Moneda Extranjera: provided, however, that this authorization shall
not be deemed to authorize any payment or transfer from a blockcd account in which any
national of a blocked country, other than Spain, 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 payment, transfer or withdrawal from any blocked account other than blocked accounts in
the name of the Instituto Espanol de Moneda Extranjera, until the Instituto Espanol de Moneda
Extranjera 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 Spain 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.
Banking institutions within tho United States shall also file monthly reports on Form
TFE R -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 July 11, 1941; amended February 18, 1942. See Public Circulars Nos. 12, 14 and 15; Public Inter­
pretations Nos. 3 and 6; Press Releases Nos. 1,5,26 and 38. Thi3 general license is inapplicable to persons within
Tangiers. See General Ruling No. 9. General License No. 52 is inapplicable to the administration of de­
cedents’ estates. See Public Circular No. 20.1
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.

TRANSACTIONS INCIDENT TO TRADE WITH MEMBERS OF “ THE GENERALLY
LICENSED TRADE AREA” NOT INVOLVING PERSONS NAMED IN “ THE PRO­
CLAIMED 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
importing and exporting of goods, wares and merchandise between the United States and any of
the members of the generally licensed trade area or between the members of the generally licensed
trade area if (i) such transaction is by, or on behalf of, or pursuant to the direction of 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 of the Order
had any interest: provided the following terms and conditions arc complied with:
(a) Such transaction is not by, or on behalf of, or pursuant to the direction of (i) any
person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” , or
(ii) any blockcd 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 “ The Proclaimed List of Certain Blocked Nationals” , or (ii) any blocked coun­
try or national thereof not within the generally licensed trade area, has at any time on or
since the effective date of the Order had any interest; and




48

(c)
Any banking institution within the United States, prior to issuing, confirming or
advising letters of credit, or accepting or paying drafts drawn, or reimbursing themselves
for payments made, under letters of credit, or making any other payment or transfer of
credit, in connection with any importation or exportation pursuant to this general license,
or engaging in any other transaction herein authorized, shall satisfy itself (from the ship­
ping documents or otherwise) that: (i) any such transaction is incident to a bona fide impor­
tation or exportation and is customary in tho normal course of business, and that the value
of such importation or exportation reasonably corresponds with the sums of money involved
in financing such transactions; and (ii) such importation or exportation is or will be made
pursuant to ah the terms and conditions of this license.
(2) Subject to all other terms and conditions of this general license any national of a blocked
country doing business within the United 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 gener­
ally licensed trade area who are not nationals of a blocked country.
(3) As used in this general license:
(a) The term “ generally licensed trade area” shah mean the following:
(i) the American Republics, i. e., (1) Argentina, (2) Bolivia, (3) Brazil, (4)
Chile, (5) Colombia, (6) Costa Rica, (7) Cuba, (8) the Dominican Republic, (9)
Ecuador, (10) El Salvador, (11) Guatemala, (12) Haiti, (13) Honduras, (14) Mexico,
(15) Nicaragua, (16) Panama, (17) Paraguay, (18) Peru, (19) Uruguay, and (20)
Venezuela;
(ii) the British Commonwealth of Nations, i. e., (1) the United Kingdom
(England, Wales, Scotland and Northern Ireland), (2) the British Dominions
(Canada, Australia, New Zealand, the Union of South Africa and Newfoundland),
(3) Eire, (4) the Isle of Man, (5) India, (6) Egypt, (7) Anglo-Egyptian Soudan,
(8) Iraq, (9) all colonies and protectorates under the British Crown, and (10) all
mandated territories administered by tho United Kingdom or by any British
Dominion;

(iii) the Union of Soviet Socialist Republics;
(iv) the Faroe Islands;
(v) the Netherlands West Indies;
(vi) tho Belgian Congo 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 Cale­
donia; (3) Tahiti, (4) the French Establishments in India;
Provided, however, That the term “ generally hcensed trade area” shall not includc any
territory which is controlled or occupied by the military, naval, or police forces or other
authority of Japan, Germany, or Italy, or allies thereof.
(b) The term “ member” of the generally hcensed trade area shall mean any of the
foreign countries or political subdivisions comprising the generally licensed trade area.

(c) The term “ any national of a blocked country within the generally hcensed trade
area” shall mean any national of a blocked country who was situated within and doing
business within such area on and since June 14, 1941.

(d) The term “ The Proclaimed List of Certain Blocked Nationals” shall mean “ The
Proclaimed List of Certain Blocked Nationals” as amended and supplemented, promulgated
pursuant to the proclamation of July 17, 1941.
[Issued July 17, 1941; amended August 5, 1941; October 9, 1941; December 26, 1941; March 13, 1942;
September 22, 1942. See Public Circulars Nos. 3, 10, 12,17 and 19; Public Interpretation No. 2; Press Releases




49

Nos. 6, 8, 88, 80, and J,0. British Malaya and the Netherlands East Indies are no longer within the generally
licensed trade area. See Public Circular» Nos. 16 and 17.]
The Proclamation of July 17, 1941, appears at page 10 of this publication.
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.

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF CHINA 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 of 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.
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 China or Japan, or any national thereof, or
(ii) such transaction 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.]
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.

PAYMENT OF DOCUMENTARY DRAFTS DRAWN UNDER CERTAIN LETTERS OF
CREDIT ISSUED OR ADVISED PRIOR TO JULY 26, 1941, FROM ACCOUNTS OF
CHINA OR JAPAN AND THEIR NATIONALS
General License No. 55 Expired.
[Issued July 26, 1941; amended August 1, 1941; September 3, 1941; expired September 30, 1941.]

CERTAIN TRANSACTIONS BY COMMERCIAL ORGANIZATIONS WITHIN TERRITORY
OF HAWAII WHICH ARE NATIONALS OF CHINA
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 of Hawaii and which is
a national of China or Japan, to engage in all transactions ordinarily incidental to the normal
conduct of its business activities within the Territory of Hawaii, provided, however, that this
general liccnse shall not authorize:
(a) Any transaction which could not be effected without a license if such organization
were not a national of any blocked country; or
(b) Any payment, transfer or withdrawal from any blocked account in any banking
institution within any part of the United States other than the Territory of Hawaii.
(2) Any organization engaging in business pursuant to this general liccnse shall not engage
in any transaction, pursuant to this general license or any other general liconso, which, directly
or indirectly, substantially diminishes or imperils the assets of such organization within the Terri­
tory of Hawaii or otherwise prejudicially affects the financial position of such organization within
the Territory of Hawaii.
(3) Any such organization shall file with the Governor of the Territory of Hawaii, within
sixty days after the date hereof, an affidavit on Form TFBE-1 setting forth the data called for in
such form. Any organization not complying 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 of this general license.




50

(5)
Any organization engaging in business pursuant to this general license shall file monthly
reports in triplicate with the Governor of the Territory of Hawaii setting forth the details of tho
transactions engaged in by it during the reporting period. Such report shall indicate receipts and
expenditures classified into general categories by source, payee, and purpose.
[Issued July 26, 1941. Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars
Nos. 8 and 8A; Press Releases Nos. 17 and 19.]
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.

PRIVILEGES OF ALL GENERAL LICENSES EXTENDED TO HONG KONG
General License No. 57 Revoked.
[Issued July 26, 1941; revoked December 26, 1941.

See Public Circular No. 10.]

TRANSACTIONS INCIDENT TO TRADE BETWEEN THE UNITED STATES AND ANY
PART OF CHINA OTHER THAN MANCHURIA
General License No. 58 as Amended.
(1) A general license is hereby granted licensing all transactions ordinarily incident to the
importing and exporting of goods, wares and merchandise between the United States and any
part of China other than Manchuria, provided the following terms and conditions are complied
■with:
(a) Such transaction shall not involve property in which any one of the following has at
any time on or since the effective date of the Order had any interest and shall not be by,
or on behalf of, or pursuant to the direction of any one of the following:
(i) Any blocked country other than China, or
(ii) Any person within Manchuria, or
(iii) Any national of 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 of $100 shall be
effected only provided both of the following conditions are satisfied:
(i) Payment therefor has been or will be made through a domestic bank and such
domestic bank has been notified by an appointed bank that the importer within China
has paid or has completed arrangements to pay therefor with United States dollars
acquired from such appointed bank, or in lieu of the foregoing, a domestic bank has
been notified by an appointed bank that the shipment has been otherwise approved
by the Stabilization Board of China; and
(ii) On each shipment the domest c bank referred to in (i) shall execute Form T F R 158 in quadruplicate. The original of such executed form shall be transmitted by
the domestic bank directly to the collector of customs at the port of exportation and
shall be received by such collector of customs prior to the exportation of the shipment.
Tho duplicate of such executed form shall bo delivered by the domestic bank to the
exporter or his agent who shall present and, if requested, deliver such copy to the col­
lector of customs at the port of exportation at the time the Shipper’s Export Declaration
is filed. The remaining two copies of such executed form shall be filed promptly by the
domestic bank with the appropriate Federal Reserve Bank.
(c) Imports into the United States from China having a value in excess of $100 shall be
effected only provided both of the following conditions are satisfied:




(i)
Payment therefor in United States dollars has been or will be made through a
domestic bank and the exporter within China has sold or has completed arrangements
for selling such United States dollars to an appointed bank, or in lieu of the foregoing,
the shipment has been otherwise approved by the Stabilization Board of China; and
51

(ii)
Prior to the release of any such shipment from customs custody the collector of
customs at the port of entry through which the shipment is imported shall have received
a consular invoice covering such shipment and such consular invoice shall bear the
certification of a United States consul in China that an appointed bank has duly notified
the consul that the exporter within China has sold or has completed 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 of China.

(d) The conditions prescribed in (b) and (c) shall not apply with respect to any import
or export:
(i) If the shipment was in transit between the United States and China on Novem­
ber 12, 1941; or
(ii) If the consignee or consignor of the shipment is the United States Government
or the Chinese National Government or a recognized agency or political instrumentality
of either government; or
(iii) If payment for the shipment was fully effected prior to November 12, 1941, and
the following reporting procedure is followed: On each such shipment a domestic bank
participating in financing the shipment shall execute Form TFR-158A in quadruplicate.
The original of such executed form shall be transmitted by such domestic bank directly
to the collector of customs at the port of importation or exportation, as the case may be,
and shall be received by such collector of customs prior to the release of such shipment
from customs custody or prior to the exportation of such shipment, as the case may be.
The duplicate of such executed form shall be delivered by the domestic bank to tho
importer or exporter or their respective agents who shall present and, if requested, deliver
such copy to the collector of customs at the time the shipment is released from customs
custody or the Shipper’s Export Declaration is filed, as the case may be. The remain­
ing two copies of such executed form shall be filed promptly by the domestic bank with
the appropriate Federal Reserve Bank.
(e) Any domestic bank prior to issuing, confirming or advising letters of credit, or
accepting or paying drafts drawn, or reimbursing themselves for payments made, under
letters of credit, or making any other payment or transfer of credit, in connection with any
importation or exportation pursuant to this general license, or engaging in any other transac­
tion herein authorized, shall satisfy itself (from the shipping documents or otherwise) that:
(i) any such transaction is inc dent to a bona fide importation or exportation and is
customary in the normal course of business, and that the value of such importa­
tion or exportation reasonably corresponds with the sums of money involved in
financing such transaction; and
(ii) such importation or exportation is or will be made pursuant to all the terms and
conditions of this license.
(2) As used in this general license:
(a) The term “ appointed bank” shall mean 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 Sched­
ule A of 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 doing business within China on and since June 14, 1941.




52

SCHEDULE A OF GENERAL LICENSE NO. 58
The offices within Ilong Kong and any part of China, except Manchuria, of the following are
hereby licensed as “ appointed banks” within the meaning of General License No. 58:
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(1)
(m)
(n)
(0)
(p)
(q)
(r)
(s)
(t)
(u)
(v)
(w)
(x)
(y)
(z)

The Chase Bank
National City Bank of New York
Underwriters Bank for the Far East
American Express Company
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.
Oversea-Chinese Banking Corporation, Ltd.
Kincheng Banking Corporation
China Banking Corporation
Bank of China
Bank of Communications
Fanners Bank of China
Central Bank of China

{Issued July 26, 1941; amended November 12, 1941. See Public Circular No. S; Press Release No. 15.
Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars Nos. 8 and 8A ; Press Releases
Nos. 17 and 19. Offices within Hong Kong and occupied China of banks named in Schedule A ceased to be
appointed banks on December 26, 1941. See Public Circular No. 10; Press Release No. 22.]
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.

OFFICES OF CERTAIN NEW YORK BANKS AND CERTAIN OTHER INSTITUTIONS
WITHIN HONG KONG AND CHINA, EXCEPT MANCHURIA— GENERALLY
LICENSED NATIONALS
General License No. 59 as Amended.
(1)
A general license is hereby granted licensing as generally licensed nationals the offices
within Hong Kong and any part of China except Manchuria of the following:




(a)
(b)
(c)
(d)
(e)
(1)
(g)
(h)

The Chase Bank
National City Bank of New York
Underwriters Bank for the Far East
American Express Company
Moscow Narodny Bank, Ltd.
Thos. Cook & Son (Bankers) Ltd,
Hongkong & Shanghai Banking Corporation
Mercantile Bank of India, Ltd.
53

(i) David Sassoon & Co., Ltd.
(j) E . D . Sassoon & Co., Ltd.
(k) E. D . Sassoon Banking Co., Ltd.
(I) Chartered Bank of India, Australia & China, Ltd.
(m) Nederlandsch Indische Handelsbank
(n) Nederlandsche Handel Maatschappij
(o) Shanghai Commercial and Savings Bank, Ltd.
(p) Bank of East Asia, Ltd.
(q) National Commercial Bank, Ltd.
(r) Chekiang Industrial Bank, Ltd.
(s) Bank of Canton, Ltd.
(t) Oversea-Chinese Banking Corporation, Ltd.
(u) Kincheng Banking Corporation
(v) China Banking Corporation
(2) Any such office of any such bank is also authorized to engage in all transactions ordi­
narily incident to the importing and exporting of goods, wares, and merchandise between the
United States and any part of China, except Manchuria, provided all the terms and conditions of
General License No. 58 are complied with.
(3) Banking institutions within the United States making any payment, transfer or with­
drawal from the accounts of any such office of the aforementioned banking institutions 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. Revoked as to Japan and nationals
thereof December 7, 1941. See Public Circulars Nos. 8 and 8A; Press Releases Nos. 17 and 19. Offices within
Hong Kong and occupied China ceased to be generally licensed nationals on December 26, 1941. See Public
Circular No. 10; Press Release No. ££.]
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.

NATIONAL GOVERNMENT OF THE REPUBLIC OF CHINA AND CENTRAL BANK OF
CHINA— GENERALLY LICENSED NATIONALS
General License No. 60.
(1) A general license is hereby granted licensing the National Government of the Republic
of China and the Central Bank of China as generally licensed nationals.
(2) Any transaction engaged in by such government or such bank pursuant to the order of
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 of such
government or such bank; provided, however, that this authorization shall not be deemed to
permit any payment, transfer, or withdrawal from any blocked account except as provided in
paragraph (3) of this general license.
(3) This general license shall also authorize any payment or transfer of credit or transfer of
securities from any blocked account in which any national of China has an interest to an account
in a domestic bank in the name of 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 of the Order.
(4) Banking institutions within the United States making any payment, transfer or with­
drawal from the accounts of such government or such bank or from any blocked account referred
to in paragraph (3) shall file promptly with the appropriate Federal Reserve Bank monthly
reports setting forth the details of such transactions during such period.
(5) The term “ generally licensed national” as applied to the National Government of the
Republic of China shall mean that such government may be regarded as though China were not




54

a blocked country, and all persons to the extent that they are acting for or on behalf of such
government may be regarded as generally licensed nationals.
[Issued July 26, 1941. Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulara
Nos. 8 and 8A; Press Releases Nos. 17 and 19. Offices within Hong Kong and occupied China of Central Bank
of China ceased to be generally licensed nationals on December 26, 1941. See Public Circular No. 10; Press
Release No. S S
S .]
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.

OFFICES OF CERTAIN CHINESE BANKS OUTSIDE THE UNITED STATES AND NOT
WITHIN
ANY BLOCKED COUNTRY OTHER THAN
CHINA— GENERALLY
LICENSED NATIONALS
General License No. 61 as Amended

(1) A general license is hereby granted hconsing the offices outside the United States and
not within any blocked country other than China of the following Chinese banks as generally
licensed nationals:
(a) the Bank of China;
(b) the Bank of Communications; and
(c) the Farmers Bank of China.
Any transaction engaged in by any such office of any such bank pursuant to the order of or for the
account of 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
of such office of such bank; provided, however, that this authorization shall not be deemed to
permit any payment, transfer or withdrawal from any blocked account.
(2) Any office within Hong Kong or any part of China, except Manchuria, of any such bank
is also authorized to engage in all transactions ordinarily incident to the importing and exporting
of goods, wares, and merchandise between the United States and any part of China, except Man­
churia, provided all the terms and conditions of General License No. 58 are complied with.
(3) Banking institutions within the United States making any payment, transfer or with­
drawal 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 trans­
actions during such period.
[Issued July 26, 1941; amended August 1, 1941; November 12, 1941. Revoked as to Japan and nationals
thereof December 7, 1941. See Public Circulars Nos. 8 and SA; Press Releases Nos. 17 and 19. Offices within
Hong Kong and occupied China ceased to be generally licensed nationals on December 26, 1941. See Public
Circular No. 10; Press Release No. 22.]
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.

CERTAIN CHINESE INSTITUTIONS IN WASHINGTON, D. C., AND IN NEW YORK,
N. Y.— GENERALLY LICENSED NATIONALS
General License No. 62.
(1) A general license is hereby granted licensing as generally licensed nationals:
(a) China Defense Supplies, Inc., 1601 V Street, N. W ., Washington, D . C .;
(b) the Universal Trading Corporation, 630 Fifth Avenue, New York, New York; and
(c) the New York office of the Bank of China.
[Issued July 26, 1941.]
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.




55

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

See Public Circular No. 11.]

TRANSACTIONS INCIDENT TO TRADE BETWEEN PHILIPPINE ISLANDS AND CHINA
AND BETWEEN PHILIPPINE ISLANDS AND JAPAN
General License No. 64 Revoked.
[Issued July 26, 1941; revoked November 12, 1941.1

CERTAIN TRANSACTIONS BY COMMERCIAL ORGANIZATIONS WITHIN PHILIPPINE
ISLANDS WHICH ARE NATIONALS OF CHINA OR JAPAN
General License No. 65 Revoked.
[Issued July 26, 1941; revoked January 5, 1942.

HAWAIIAN

See Public Circular No. 11.]

OFFICES OF CERTAIN BANKS— GENERALLY LICENSED NATIONALS

General License No. 66 as Amended.
A general license is hereby granted licensing as generally licensed nationals the offices in the
Territory of Hawaii of:
(a) the American Security Bank;
(b) the Honolulu Trust Company; and
(c) the Liberty Bank of Honolulu.
[Issued July 26, 1941; amended December 7, 1941. See Public Circulars Nos. 8, 8A and 10; Press Releases
Nos. 17, 19 and 40.]
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.

PAYMENT OF CERTAIN SALARIES FROM BLOCKED ACCOUNTS IN DOMESTIC
BANKS OF COMMERCIAL ORGANIZATIONS WHICH ARE NATIONALS OF
CHINA OR JAPAN
General License No. 67 Expired.
[Issued July 26, 1941; expired August 26, 1941.]

NATIONALS OF CHINA AND JAPAN RESIDING ONLY IN UNITED STATES SINCE
JUNE 17, 1940— GENERALLY LICENSED NATIONALS
General License No. 68 Revoked.
[Issued July 26, 1941. Revoked as to Japan and nationals thereof December 7, 1941.
Nos. 8 and 8A. Revoked February 23, 1942.]

See Public Circulars

JAPANESE NATIONALS RESIDING CONTINUOUSLY WITHIN CONTINENTAL UNITED
STATES SINCE JUNE 17, 1940, AND CERTAIN JAPANESE BUSINESS ENTER­
PRISES— GENERALLY LICENSED NATIONALS. REPORTS TO BE FILED
General License No. 68A as Amended.
(1) A general liccnse 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 sinco
June 17, 1940, and




56

(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 com­
pany, 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 loeated 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 tho
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 Fedoral 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) Banking institutions within the United States effecting payments, transfers or with­
drawals in excess of $1,000 during any month from the account of any person licensed as a
generally licensed national hereunder, shall file promptly with the appropriate Federal Reserve
Bank a report showing the details of such transactions.

(6) As used in this general license, the term “business enterprise” shall mean any individual
proprietorship, partnership, association, corporation or other organization engaged in com­
mercial or other business activities within the continental United States.
[Issued December 15, 1941; amended January 14, 1942; March 10, 1942. See Public Circular No. 4A ;
Press Releases Nos. 18 and 28.]
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.

SAN FRANCISCO OFFICE OF THE BANK OF CANTON— GENERALLY LICENSED
NATIONAL
General License No. 69 as Amended.
A general license is hereby granted licensing as a generally licensed national the San Fran­
cisco office of the Bank of Canton.
[Issued July 26, 1941; amended December 7, 1941. See Public Circulars Nos. 8, 8A and 19; Press Releases
Nos. 17, 19 and 40.]
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.




57

TRANSACTIONS ON 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 thereof, 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 blockcd 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 tho
Government of Portugal or the Banco de Portugal, such transaction shall not bo effected
until the Banco de Portugal has certified in writing that the Banco de Portugal has deter­
mined 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 tho
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 tho
effective date of the Order.
(3) Except as provided in paragraph (2), this general license shall not be deemed to permit
any payment, 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 do
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 blockcd 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 singlo
item under the authority of this general license.
Banking institutions within the United States shall also file monthly reports on Form
TFE R -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.
(6) As used in this general license, the “ Government of Portugal” shall include the govern­
ment of any political subdivision (territories, dependencies, possessions, states, departments,
provinces, counties, municipalities, districts or other places subject to tho jurisdiction thereof),
or any political agency or instrumentality of the government.
[Issued August 11, 1941; amended February 18, 1942. See Public Circulars Nos. 7A, 12, 14 and 15; Public
Interpretations Nos. S and 6; Press Releases Nos. 1, 9, 26 and SS. General License No. 70 is inapplicable to tho
administration of decedents’ estates. See Public Circular No. 20. ]
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.




58

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 licensc 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.
1
Issued August 16, 1941, amended February 9, 1943.]
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.

FILING AND PROSECUTION IN THE UNITED STATES OF APPLICATIONS FOR
PATENTS, TRADEMARKS AND COPYRIGHTS
General License No. 72 as Amended.
(1)
A general liccnse 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 filing 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 certifi­
cates 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 trade­
mark 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 appli­
cation 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 copyright, or application therefor.




59

(2) Notwithstanding the provisions of General Riding No. 11, the transactions specified
in paragraph (1) hereof may he 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 Treasury Department, and to General Order No. 11 issued by the Alien Property Cus­
todian on November 17, 1942.
[Issued September 3, 1941; amended October 23, 1941, and November 17, 1942.
as amended.]

See Public Circular No. 5,

FILING AND PROSECUTION OF APPLICATIONS FOR BLOCKED FOREIGN PATENTS,
TRADEMARKS AND COPYRIGHTS— FILING OF REPORTS ON FORM TFR-132
General License No. 72A
(1) A general license is hereby granted authorizing tho 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, trade­
mark, or copyright;
(b) The receipt of any blocked foreign patent, trademark, or copyright;
(c) The payment of fees currently due to tho 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 mainte­
nance of any blocked foreign patent, trademark, 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
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 conditions 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 “ blockcd foreign patent, trademark, or coypright” 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 coypright 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. See Public Circular No. 6.\
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.




GO

CERTAIN CHINESE PARTNERSHIPS— GENERALLY LICENSED NATIONALS
General License No. 73.
(1) A general liccnse is hereby granted licensing as a generally licensed national any partner­
ship 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 hcensed as generally
licensed nationals);
(c) since prior to June 17, 1940, no partner in such partnership has been a national of
any blocked country other than China.
(2) This general license shall not be deemed to license as a generally hcensed national any
partnership which is a national of any blocked country other than China.
(3) All partnerships hcensed herein as generaUy hcensed nationals shall file with the appro­
priate Federal Reserve Bank within thirty days after the date hereof a report in triplicate setting
forth: (a) tho name and address of the partnership; (b) the name, address and nationality of each
partner; and (c) a statement that the partnership is licensed as a generaUy hcensed national under
this general license. Any partnership 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 inter­
ests of any partnership hcensed herein as a generaUy licensed national.
[Issued October 9, 1941. See Press Release No. JS ]
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.

PAYMENTS FROM ACCOUNTS OF UNITED STATES CITIZENS W HO ARE ABROAD
FOR CERTAIN PERSONAL EXPENSES IN THE UNITED STATES
General License No. 74 as Amended.
(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
of any citizen of the United States who is within any foreign country, and for the personal expenses
within the United States of the family of such citizen, provided that the foUowing terms and con­
ditions are complied with:
(a) Such payments and transfers are made only from blocked accounts in the name of, oi
in which the beneficial interest i3 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 shaU not be deemed to authorize any payment or transfer of credit
which could not be effected without a hcense if such citizen were a generaUy licensed national.
(3) Domestic banks making any such payment or transfer shaU satisfy themselves that the
foregoing terms and conditions are complied with.
[Issued October 9, 1941; amended February 9, 1943.]
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.




61

REMITTANCES THROUGH DOMESTIC BANKS TO PERSONS IN ANY PART OF
CHINA EXCEPT MANCHURIA
General License No. 75 as Amended.
(1) A general license is hereby granted authorising 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 authorized to effect such remittances, provided the following terms and condi­
tions 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 follow­
ing 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 remittance 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 Stabilization Board of China, be made available to the Board by payment to the
Central Bank of China against delivery of an equivalent amount of Chinese national currency.
(5) This general licensc 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. See Public Circular No. 7; Press Release No. IB.
Revoked as to Japan and nationals thereof December 7, 1941. See Public Circulars Nos. 8 and 8A ; Press Releases
Nos. 17 and 19. Offices within Hong Kong and occupied China of banks named in Schedule A of General License
No. 58 ceased to be appointed banks on December 26, 1941. See Public Circulars No. 10 and 11; Press Releases
Nos. 2$ and 23.]
Attention is directed to General Ruling No. 11, which imposes an additional restriction on every Gcense and
other authorization, by prohibiting any transaction thereunder which directly or indirectly involves any trade or
communication with an enemy national as therein defined.

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF THAILAND, OR ANY
NATIONAL THEREOF, PRIOR TO BUT NOT ON OR SINCE DECEMBER 9. 1941
General License No. 76.
A general licenso 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.




62

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.]
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.

JAPANESE NATIONALS ENGAGED IN PRODUCTION, MARKETING OR DISTRIBUTION
OF FOOD IN UNITED STATES
General License No. 77 Revoked.
[Issued December 11, 1941; revoked September 22, 1942.

See Public Circular No. 10.]

TRANSACTIONS INVOLVING PROPERTY INTERESTS OF HONG KONG, OR ANY
NATIONAL THEREOF, PRIOR TO BUT NOT ON 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. See Press Release No. 22.]
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.

PAYMENTS OF CHECKS AND DRAFTS DRAWN OR ISSUED PRIOR TO JANUARY 1,
1942 FROM ACCOUNTS OF PHILIPPINE ISLANDS AND THEIR NATIONALS
General License No. 79 Expired.
[Issued January 5, 1942; expired February 1, 1942.]

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 indi­
vidual 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. See Press Release No. S3.]
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.




03

NEW YORK OFFICE OF PHILIPPINE NATIONAL BANK AND CERTAIN OFFICES
OF HONG KONG AND SHANGHAI BANKING CORPORATION— GENERALLY
LICENSED NATIONALS
General License No. 81.

A general license is hereby granted licensing as generally licensed nationals:
(a) The New York office of the Philippine National Bank; and
(b) The offices within the United States and the generally licensed trade area, as defined
in General License No. 53, of the Hong Kong and Shanghai Banking Corporation,
tissued January 5, 1942. See Press Release No. 23.]
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.

GOVERNMENT OF COMMONWEALTH OF PHILIPPINE ISLANDS, UNITED STATES
HIGH COMMISSIONER, AND CERTAIN OTHERS— GENERALLY LICENSED
NATIONALS
General License No. 82.
The government of the Commonwealth of the Philippine Islands, the United States High
Commissioner 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 hcensed as generaUy
licensed nationals. The term “ generaUy hcensed national” as applied to the government of the
Commonwealth of the Philippine Islands shaU mean that such government may be regarded as
though the Philippine Islands were not a blocked countiy.
[Issued January 5, 1942. See Press Release No. S3.]
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.

COLLECTION

OF

COUPONS

FROM SECURITIES
RULING NO. 10

REFERRED

TO

IN

GENERAL

General License No. 83 Expired.
[Issued January 14, 1942; amended January 30, 1942; expired February 15, 1942.]

BRINGING INTO THE UNITED STATES OF UNITED STATES DEFENSE AND WAR
SAVINGS STAMPS AND BONDS AND CERTAIN TREASURY NOTES
General License No. 84.
A general liccnse is hereby granted authorizing the sending, mailing, importing or otherwise
bringing into the United States, of United States Defense and War Savings stamps and Bonds
of all series and designations, and United States Treasury Notes, Tax Series A-1943, B-1943,
A-1944, and B-1944, and the receiving or holding in the United States of the aforesaid securities
so brought into the United States, without regard to the provisions of General Ruling No. 5,
as amended.
[Issued November 25, 1942. See General Ruling No. S.]
Attention is directed to General Ruling No. 11, which imposes an additional restriction on every licensc and
other authorization, by prohibiting any transaction thereunder which directly or indirectly involves any trade
or communication with an enemy national as therein defined.




64

PUBLIC CIRCULARS
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
EXTENSION OF TIME FOR FILING REPORTS ON FORM TFR-300
Public Circular No. 1 as Amended.
Reference is made to Section 130.4 of the Regulations providing that reports on Form T F R 300 shall be filed on or before July 14, 1941.
The time within which such reports on Form TFR-300 shall be filed is hereby extended to
October 31, 1941.
[Issued July 9, 1941; amended August 16,1941; September 18, 1941.

See Press Releases Nos. 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.
The following are replies which the Treasury Department has made to inquiries:
(1) Drafts or other orders for payment drawn under irrevocable letters of credit issued in
favor or on behalf of 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 which any blocked country or national thereof
has on or since the effective date of the Order had any interest, drawn under any irrevocable
letter of credit may not be presented, accepted or paid except pursuant to license.
(3) Documentaiy drafts in which any blocked country or national thereof has on or since
the effective date of the Order had any interest may not be presented, accepted or paid except
pursuant to license.
(4) General License No. 1 does not authorize any such payment into blocked accounts.
[Issued August 1, 1941.1

TRANSACTIONS AUTHORIZED UNDER GENERAL LICENSES NOS. 15, 53, AND 58
IRRESPECTIVE OF CONTROL OF VESSEL INVOLVED AND PREPAYMENT OF
FREIGHT
Public Circular No. 3.
The Treasury Department has made the following reply to inquiries relative to General
Licenses Nos. 15, 53, and 58:
Transactions may be engaged in pursuant to the terms and conditions of such general
licenses, irrespective of the ownership, control or documentation of the vessel on which the
goods, wares and merchandise are shipped, and irrespective of whether or not freight on such
goods, wares and merchandise has been prepaid.
[Issued August 11, 1941.]

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. Public Circular No. 4 is printed as a separate pamphlet and therefore is not
reproduced herein. See Press Release No. 10.1




65

INSTRUCTIONS FOR PREPARATION OF REPORTS ON FORM TFR-300, SERIES J,
BY CERTAIN NATIONALS OF JAPAN
Public Circular No. 4A.
[Issued January 16, 1942.
reproduced herein.]

Public Circular No. 4A is printed as a separate pamphlet and therefore is not

INSTRUCTIONS FOR PREPARATION OF REPORTS ON FORM TFR-300, SERIES K,
OF PROPERTY IN WHICH NATIONALS OF THE PHILIPPINE ISLANDS HAD
ANY INTEREST
Public Circular No. 4B.
[Issued February 7, 1942. See Press Release No. 27.
pamphlet and therefore is not reproduced herein.]

Public Circular No. 4B is printed as a separate

INSTRUCTIONS FOR PREPARATION OF REPORTS ON FORM TFR-300, SERIES L
Public Circular No. 4C.
[Issued September 14, 1942. See Press Release No. S9.
pamphlet and is therefore not reproduced herein.]

Public Circular No. 4C is printed as a separate

JURISDICTION OF TREASURY DEPARTMENT AND OFFICE OF THE ALIEN PROP­
ERTY 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 Alien Property Custodian.
(2) Pursuant to section 2 (d) of Executive Order No. 9095, as amended July 6, 1942, tho
Alien 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 of Executive Order No. 8389, as amended, had an interest. This action was taken
through the issuance by the Alien Property Custodian of General Orders Nos. 11,12 and 13 and
Regulations thereunder. At the same time, the Treasury Department amended General License
No. 72 so that, to the extent that the Alien Property Custodian has assumed jurisdiction, the
Treasury Department relinquishes it under Executive Order No. 8389, as amended.
(3) In addition, General License No. 72 has been amended to authorize the payment of fees
to the United States Government and, with limitations, the customary fees and charges of
attorneys in the United States arising in connection with the filing and prosecution in the United
States of patent, trademarks and copyright applications. Payment is not permitted from an
account in which an enemy national has an interest. Those provisions will facilitate the admin­
istration of General Orders Nos. 11, 12 and 13 and Regulations issued thereunder by the Alien
Property Custodian.
(4) It is to bo noted, in connection with General License No. 72, that transactions relating
to United States patents, trademarks and copyrights winch involve communication from an
enemy national have been authorized notwithstanding General Ruling No. 11. This action
was taken by the Treasury Department at the request of the Alien 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 No. 8389, as amended.
(6) General License No. 72A authorizes transactions relating to the filing and prosecution
of applications for patents, trademarks or copyrights in any foreign country, the receipt of
documents issued in connection therewith, the payment of fees currently due to the government




66

e? any foreign country not within enemy territory, and, within limitations, the payment of
reasonable and customary attorneys’ fees, in which a blocked country or national, cxcept an
enemy national, has an interest.
(7) General License No. 72A does not authorize any transaction involving trade or
communication with an enemy national and the Treasury Department will continue to observe
its general policy of denying applications to effect such transactions.
(8) Public Circular No. 5A is hereby revoked.
(Issued September 3, 1941; amended November 17, 1942.

See Public Circular No. 4-]

DENIAL OF APPLICATIONS FOR LICENSES TO EFFECT CERTAIN PATENT AND
COPYRIGHT TRANSACTIONS, WHICH INVOLVE TRADE OR COMMUNICA­
TIONS WITH ENEMY NATIONAL
Public Circular No. 5A Revoked.
[Issued May 8, 1942; revoked November 17, 1942.

See Public Circular No. 5, as amended.]

ATTACHMENT OF FORM TFEL-2 TO OBLIGATIONS ISSUED BY GOVERNMENTS
AND CORPORATIONS OF BLOCKED COUNTRIES
Public Circular No. 6.
(1) Any licenses which may be issued permitting the redemption or purchase for sinking fund
purposes or other purchase for blocked accounts of bonds, debentures or similar obligations
issued by governments of blocked countries, including political subdivisions, or by corporations
organized under the laws of any blocked country, will be so limited as to allow such redemption
or purchase only of such securities to which Treasury Department Form TFEL-2 has been
previously attached or affixed by, or under the direction of, the Treasury Department.
(2) Applications for the attachment of Form TFEL-2 should be filed on Form T FE -2A
with the Federal Reservo Bank for the district or with the Governor or High Commissioner of
the territory or possession of the United States in which the apphcant resides or has his principal
office or agency. Copies of Form TF E -2A may bo obtained from any such Federal Reserve
Bank or Governor or High 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 Sep­
tember 15, 1941, to which Form TFEL-2 has not been attached, are required in Form T FE -2A
to furnish much more complete and detailed information concerning the past ownership of the
securities than is required of persons who have owned such securities continuously since prior to
September 15, 1941. Whereas the former arc required on Form T FE -2A to trace the ownership
of such securities through April 8, 1940, in order to obtain the attachment of Form TFEL-2,
Form TF E -2A only requires tho latter to tracc the ownership of such securities from the person
from whom they have acquired them.
(4) Any person acquiring any such securities under a contract made prior to September 15,
1941 even though delivery of the securities may have been effected on September 15, 1941, or
within a reasonable time thereafter, need trace ownership only from the person from whom the
securities wero acquired, provided tho. Treasury Department is furnished with satisfactory evi­
dence that the contract was made in the normal course of business through or with a domestic
bank or broker or dealer.
[Issued September 13, 1941.

See Press Release No. 11.]

REMITTANCES TO INDIVIDUALS IN ANY PART OF CHINA, EXCEPT MANCHURIA,
UNDER GENERAL LICENSES NOS. 32 AND 33 TO BE EFFECTED AS PRESCRIBED
IN PARAGRAPH (1) (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 indi­
vidual in any part of China, except Manchuria, unless such remittances are effected in the




07

manner prescribed in paragraph (1) (c) of General Licensc No. 75, namely, 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.
[Issued November 12, 1941.]

REMITTANCES TO MACAO
Public Circular No. 7A

General Licenses Nos. 32 and 33 shall not be deemed to authorize remittances to any
individual in Macao.
No remittance shall be made under General License No. 70 to any person in Macao unless
the domestic bank effecting such remittance is fully satisfied that the ultimate beneficiary is not
a national of any blocked country other than Portugal.
[Issued November 6, 1942]

REVOCATION OF JAPANESE LICENSES AND AUTHORIZATIONS
Public Circular No. 8.
All general licenses, specific licenses, and authorizations of whatsoever character are hereby
revoked insofar as they authorize, directly or indirectly, any transaction by, on behalf of, or for
the benefit of, Japan, or any national thereof.
[Issued December 7, 1941.

See Press Release No. 17.

See Public Circular No. 8A.]

CERTAIN GENERAL LICENSES, WHICH WERE REVOKED BY PUBLIC CIRCULAR
NO. 8, REINSTATED
Public Circular No. 8A.

All general licenses other than those listed below are hereby reinstated to the extent tha t
.
they were revoked by Public Circular No. 8.
General
General
General
General
General
General
General
General
General
General
General

License
License
License
License
License
Licensc
License
License
License
License
License

No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.

56
58
59
60
61
<3
65
66
68
69
75

[Issued December 20, 1941.

See Press Release No. 19.\

REVOCATION OF LICENSES AND AUTHORIZATIONS REGARDING CERTAIN OBLIGA­
TIONS OF GOVERNMENT OF DENMARK AND CERTAIN OTHER OBLIGORS
Public Circular No. 9.
All general licenses, specific licenses, and authorizations of whatsoever character are hereby
revoked insofar as they authorize, directly or indirectly, any of the following with respect to any
bond, debenture or similar obligation, including coupons (all of which arc hereinafter referred to
as securities) issued by the Government of Denmark, or any political subdivision, agency or
instrumentality thereof:

(a)
the removal of such securities from blocked accounts of Denmark, or any person
within Denmark, or from any General Ruling No. 6 account; or




68

(b) the presentation, by or on behalf of or for the benefit of Denmark, or any person
within Denmark, or any General Ruling No. 6 account, of such securities for payment or
redemption; or
(c) the sale or other disposition of such securities by or on behalf of or for the benefit of
Denmark, or any person within Denmark, or any General Ruling No. 6 account,
Provided, that this Public Circular shall not be deemed to prevent the completion on or prior to
December 27, 1941, of purchases and sales of such securities (other than detached coupons)
which were made pursuant to the order on or before December 24, 1941.
[Issued December 24, 1941.

See Press Release No. £0.]

REVOCATION AND MODIFICATION OF CERTAIN LICENSES INVOLVING HONG
KONG AND GENERALLY LICENSED TRADE AREA
Public Circular No. 10.

1. General License No. 57 is hereby revoked.
2. The offices within Hong Kong and occupied China of banks named in Schedule A of
General License No. 58, shall, as of the date hereof, cease to be appointed banks, and, as of the
date hereof, such offices shall also ceaso to be generally licensed nationals within the meaning of
General Licenses Nos. 59, 60, or 61, and such general licenses are to such extent hereby revoked.
3. General License No. 13 is hereby amended in the following respects:

(a) The word “ Hong Kong” is deleted from subdivision (a) of paragraph (1) thereof;
and
(b) The words “ Hong Kong” and “ Penang” are deleted from subdivision (b) of para­
graph (1) thereof.
4. Subparagraph (a) of paragraph (3) of General License No. 53 is hereby amended in the
following respects:
(1) A semicolon is substituted for the period at the end of Item (x) thereof; and
(2) The following proviso to all of the provisions of 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 or
other authority of Japan, Germany, or Italy, or allies thereof.”
[Issued December 26, 1941. The text of each general licenso amended by paragraphs 3 and 4 of Public Cir­
cular No. 10, as set forth in this publication, has been revised to give effect to such amendments. See Press
Release No. 22.)

FREEZING OF PHILIPPINE ASSETS AND REPORTS ON FORM TFR-300 REGARDING
SUCH ASSETS. REVOCATION OF GENERAL LICENSES NOS. 63 AND 65 AND
AMENDMENT OF GENERAL LICENSES NOS. 13 AND 75
Public Circular No. 11.
(1) Attention is directed to the fact that pursuant to Executive Order No. 8998, the provi­
sions of Executive Order No. 8389, as amende J, have been automatically extended to the Philip­
pine Islands 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,
the Philippine Islands shall be deemed to be a foreign coimtry separately designated in the Order
and specifically named in section 3 thereof. The effective date of the Order as applied to the
Philippine Islands shall be deemed to be January 1, 1942. The definition of the term “ national”
as applied to the Philippine Islands shall be that specified in paragraph E of section 5 of the Order.
(3) Reports on Form TFR-300 shall be filed with respect to all property subject to the juris­
diction of tho United States in which the Philippine Islands or any national thereof has any




09

interest. Details concerning this requirement and information regarding the dates as of which
reports are to be filed will be the subject of a future public circular.
(4) General License No. 13 is hereby amended by the deletion of the word “ Manila” from
subdivision (a) of paragraph (1) thereof.
(5) General Licenses Nos. 63 and 65 are hereby revoked.
(6) Subdivision (b) of paragraph (6) of General License No. 75 is hereby amended to read as
follows:
“ (b) the term ‘ designated agent of the Central Bank of China’ shall mean the Bank of
China.”
(7) Attention is directed to the fact that as used in the Order, and regulations, licenses, and
other documents issued thereunder, the term “ United States” does not include the Philippine
Islands and does not include any other territory controlled or occupied by the military, naval, or
police forces or other authority of any blocked country.
(8) All general licenses, specific licenses, and authorizations of whatsoever character issued
pursuant to the Order on or before January 1, 1942 by the United States High Commissioner to
the Philippine Islands are hereby revoked.
[Issued January 5, 1942. The text of each general license amended by Public Circular No. 11, as set forth
in this publication, has been revised to give effect to the amendments set forth in Public Circular No. 11. See
Public Circular No. 4B; Press Releases Nos. S3 and 37.

INCLUSION IN “ PROCLAIMED LIST” OF NAMES OF PERSONS WITHIN NEUTRAL
EUROPEAN COUNTRIES
Public Circular No. 12.
Supplement No. 7, January 14,1942, to “ The Proclaimed List of Certain Blocked Nationals”
promulgated pursuant to the Proclamation of July 17, 1941, contains the names of persons within
Portugal, Spain, Sweden, Switzerland and Turkey.
Attention is directed to the fact that these persons, as well as all other persons whose names
appear on “ The Proclaimed List of Certain Blocked Nationals” , shall be treated for all purposes
as though they were nationals of Genii any 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 of nationals of
Germany or Italy, do not authorize transactions by, on behalf of, or for the benefit of persons
whose names appear on such list. Tho mere fact that the name of a particular individual or
concern is not contained on this list shall not be construed to mean that such individual or con­
cern is not a national of Germany or Italy or to authorize transactions in which any national of
Germany or Italy may have an interest.
[Issued January 14, 1942.]

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 aro hereby amended by deleting the final
paragraph of each such general license.
[Issued January 20, 1942. The text of each general license referred to in Public Circular No. 13, as set forth
in this publication, has been revised to give effect to the amendments set forth in Public Circular No. 13.]

PROHIBITING PURCHASE, WITHOUT SPECIAL LICENSE, FOR ANY BLOCKED
ACCOUNT OF MORE THAN 1 PERCENT OF OUTSTANDING SHARES OF ANY
ONE CLASS OF ANY CORPORATION. FILING OF FORM TFR-4
Public Circular No. 14.
(1)
No 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




70

thereof to purchase, directly or indirectly, securities of any one issue of a corporation if the securi­
ties so purchased together with the aggregate of all other securities held directly or indirectly by
6uch blocked country or national constitute more than one percent of the outstanding securities
of that issue. Banking institutions shall not effect any such purchases if they have reasonable
cause to believe that the terms hereof are being violated.
(2) Monthly reports on Form TFR 4 arc hereby required to be filed with respect to tho
purchase or sale of securities for any blocked account and, unless expressly referring to this
pubhc circular, no license or other authorization shall be deemed to suspend the requirement of
filing this report. Such report shall bo filed with the appropriate Federal Reserve Bank by the
banking institution with which such blocked account is held and shall bo filed on or before the
15th day of the month following the calendar month with respect to which the report is filed.
No report need be filed for any calendar month during which the total purchases and the total
sales for any blocked account are each less than $5,000. This reporting requirement shah be
deemed to be in heu of that required under any license now outstanding or hereafter issued so
far as such license requires the filing of reports with respect to the purchase or sale of securities
for any blocked account.
(3) Banking institutions shall have a reasonable period of time, but not to exceed 15 days
from the date hereof, in which to adjust their records for the purpose of complying with the pro­
visions of paragraph (1) hereof; provided, however, that a special report shall be filed with respect
to any case in which the one percent limitation contained in paragraph (1) was exceeded as a
consequence of records being in the process of adjustment. Such report shah be filed with the
appropriate Federal Reserve Bank within 30 days of the date hereof and shall expressly refer to
paragraph (3) of this pubhc circular.
[Issued February 3, 1942.

See Press Release No. 26.]

AMENDMENT OF GENERAL LICENSES NOS. 49, 50, 52 AND 70, REQUIRING REPORTS
ON FORMS TFR-I49 AND TFER-1
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 shaU be filed promptly in duphcatc 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 tho United States shah 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. The text of each general license referred to in Public Circular No. 15, as set forth
in this publication, has been revised to give effect to the amendments set forth in Public Circular No. 15.]

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 automatically extended to all of British Malaya to tho same extent as the provisions of tho
Order apply to any other blocked country.




71

(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
subdivisions (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 extension of the Order to such country.
(6) As used herein, the term “British Malaya” shall be deemed to include the Straits Settle­
ments and the Malay States, both federated and unfederated.
[Issued February 18, 1942. The text of each general license referred to in Public Circular No. 16, as set forth
in this publication, has been revised to give effect to the amendments set forth in Public Circular No. 16.]

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 tho 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.
[Issued March 13, 1942. See Press Release No. SO. The text of each general license referred to in Public
Circular No. 17, as set forth in this publication, has been revised to give effect to the amendments set forth in
Public Circular No. 17.]

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.
(1)
Reference is made to General Ruling No. 11, relating to transactions involving trade or
communication 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.




72

(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) which 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 indi­
rectly, by any persons 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
Republics 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 Department, 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.

See General Ruling No. 11; Press Release No. S3.]

AMENDMENTS OF GENERAL LICENSES NOS. 4, 5, 13, 20, 53, 66 AND 69, AND GENERAL
RULING NO. 11; REVOCATION OF GENERAL LICENSES NOS. 11A 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 (in­
cluding 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 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 liccnse, 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. 5 3 is hereby amended in the following respects:
(a)
Insert “ the Faroo 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.”




73

(b)
Delete “ Syria and Lebanon” , and in lieu thereof, substitute “ (1) Syria and Le­
banon; and (2) the New Hebrides Islands” .
(5) General License No. 11A and General License No. 77 are hereby revoked.
(G) 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 heu 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 heu 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 hcensing as a generally licensed national the
San Francisco office of the Bank of Canton.”
[Issued September 22, 1942. See Press Release No. 1,0. The text of the General Ruling and of each general
license referred to in Public Circular No. 19, as set forth in this publication, have been revised to give effect to
the amendments set forth in Public Circular No. 19.]

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 appoint­
ment 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 Government, 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 distributable 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 Gov­
ernment) and the gross value of the assets situated within tho 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 per­
sonal 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




74

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 transferred to the trustee of any testamentary trust or to the guardian of the estate of
a minor or of an incompetent, 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 in­
competent 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 administration 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 applica­
tion should contain a complete statement of all relevant facts, including, as accurately as pos­
sible, 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, conser­
vation, administration, liquidation, and distribution of any blockcd 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 docs not affect any
orders, rules or regulations of the Alien Property Custodian relating to estates. In this con­
nection, see General Orders 5 and 6 issued by the Alien Property Custodian.
[Issued October 23, 1942.]

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 securi­
ties were held;
(b) On and after January 16, 1943, General License No. lA shall not bo 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.]




75

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. 1.
Su bje c t: G

eneral

L

ic e n s e

No. 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 i c e n s e N o . 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 bje c t: G

eneral

L ic e n s e s

Nos. 49, 50, 52,

and

70,

and

P

u b l ic

C ir 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 filed before they
have obtained the information required by Form TFR-149.
Banking institutions are not authorized to effectsuch transactions unless they are in possession
of the information required by Form TFR-149.
[Issued February 27, 1942.]

Public Interpretation No. 4.
Su bjec t: R

e q u ir e m e n t

op

N

T

reasury

a t io n a l

L

ic e n s e

O u t s id e

the

for

C o m m u n ic a t io n W

it h

an

E

nem y

U n it e d S t a t e s

Inquiry has been made as to whether a license from the Treasury Department is necessaiy
in order for a person within tho 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 ap­
plied 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




76

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 je c t :

A p p lic a tio n

W it h

of

R u l i n g N o . 11

G en eral

C o m p a n ie s W h i c h

A re

E nem y

to

N a tio n a ls

Im p orts
or

or

T h rou gh

E x p orts
A g e n ts

In su red
W ho

A re

E nem y N a tio n a ls

Inquiry has been made whether General Ruling No. 11 applies to imports or exports insured
by insurance companies which arc enemy nationals or through agents who are enemy nationals.
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 31, 1942.]

Public Interpretation No. 6.
S u b j e c t - S e n d in g S e c u r it ie s , C
P

urrency,

ortugal and

C
U

h e c k s , e t c ., t o

n o c c u p ie d

S w e d e n , S w it z e r l a n d , S p a in ,

F rance.

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 countries 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 No. 3S.]

Public Interpretation No. 7.
S u bje c t: R

e m it t a n c e s

U

nder

G

eneral

L

ic e n s e s

Nos. 32

and

33

Inquiry has been made whether a remittance may be effected under General Licenses
No. 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 defraying the expenses of such individuals and their households. A remittance to an indi­
vidual 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 re­
cipient of remittances under General License No. 32 or 33 directing tho transfer of funds to third
persons or directing the use of such fimds for the benefit of persons not forming part of the house­
hold of the recipient, requires a special license from the Treasury Department.
[Issued October 17, 1942.]

Public Interpretation No. 8.
S u bject: R

e m it t a n c e s

to

E

nem y

P r is o n e r s

of

W

ar

U

nder

G

eneral

L

ic e n s e

N

o.

32

Inquiry has been made as to whether remittances may be sent to German or Italian pris­
oners 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.]




77

Public Interpretation No. 9.
Su bject: A

p p l ic a t io n

of

G

eneral

R

u l in g

N o . 11

to

M

onaco.

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 je c t : E x a m in a t io n

of

E

ndorsem ents

A

from

p p e a r in g

A

on

C

hecks

and

D

rafts

R

e c e iv e d

broad.

Inquiry has been made as to whether a banking institution which receives a check or draft
from a foreign country is required to examino 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 Riding 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. 11.
S u bject: P

ersons

W

ho

M

ay

F

il e

A

p p l ic a t io 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 proposed 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.]




78

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. 1.

June 14, 19 41 .

In view of the unlimited national emergency declared by the President, he has today issued
an Executive 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 facilities 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, Switzerland, 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 regula­
tions 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 Nor­
way, 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 .

J

une

2 0 , 19 41 .

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.




79

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 hcenses.
REFERENCE— GENERAL LICENSE NO. 51
Press Release No. 3 .
J u n e 2 4 , 19 4 1 .
A general hcensc under the freezing control order was issued today with respect to transac­
tions of the Union of Soviet Socialist Republics and its nationals. The State Department re­
quested, and the Treasury Department and the Department of Justice approved, the issuance
of the license without requirement of the formal assurances which have been requested of Euro­
pean 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 hcenses 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 tho Union of Soviet Socialist Republics have made
such assurances unnecessary.
REFERENCE— REGULATIONS APPROVED JUNE 14, 1941; PUBLIC
CIRCULAR NO. 1
Press Release No. 4.
J u l y 9 , 19 41 .
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 is 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 oppor­
tunity for all persons and institutions to report all foreign-owned property in the United States.
REFERENCE-GENERAL LICENSE NO. 52
Press Release No. 5 .
J u l y 11, 19 41 .
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 con­
sistent 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

uly

17,

19 41 .

As a further step in view of tho unlimited national emergency declared by the President, ho
has today issued a proclamation authorizing the promulgation of a list of persons which will bo




80

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 Com­
mercial 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 investiga­
tions 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 cir­
cumstances. 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.

July

26, 1941.

In view of the unlimited national emergency declared by the President, he has today issued
an Executive 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 Government 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 liquida­
tion in the United States of assets obtained by duress or conquest, and to curb subversive activi­
ties in the United States.




81

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 accord­
ance 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.

A

ugust

6, 1941.

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)
(2)
(3)
(4)
(5)
(6)
(7)

the American Republics;
the British Commonwealth of Nations;
the Union of Soviet Socialist Republics;
the Netherlands East Indies;
the Netherlands West Indies;
the Belgian Congo and Ruanda-Urundi;
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— GENERAL LICENSE NO. 70
Press Release No. 9.

A

u gu st

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. 1 AND 4
Press Release No. 10.

A

ugust

18, 1941.

Copies of Form TFR-300 to be used for the census of all foreign-owned property subject to
the jurisdiction 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.




82

By an amendment to Public Circular No. 1 the time for filing such reports has been ex­
tended 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. Pubhc 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 instruc­
tions, 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. Corporations and other organi­
zations 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 tho United States belonging to a foreign national for whom he is acting
must report such property. In the ease of Chinese or Japaneso 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 tho property of foreign nationals who are “ generally
licensed nationals” under General License No. 42 or General License No. 68. These general
hcenses 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 tho 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. 11.

S eptem ber

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




83

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
bonds, debentures 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 September 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 necessary clearance, anyone
acquiring such securities on or after September 15, 1941, should make certain that Form TFE L-2
had been attached prior to purchase.
Previous regulations issued by the Department have already imposed restrictions upon
the importation 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. 1
Press Release No. 12.

Septem ber

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 arc 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 TFR-300 was made available at all Federal Reserve Banks and at the Treasury
Department during the last week in August. Since that time, a large number of questions have
been received by the Department and by the Federal Reserve Banks in regard to various aspects
of 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 sub­
mission 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.

O ctober

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




84

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 obligation of filing census reports on Form TFR-300 with respect to their property.
REFERENCE— GENERAL LICENSES NOS. 32 AND 33
Press Release No. 14.

O ctober

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 Liccnse 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 avadable 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 respcct to remittances to American citizens
in the “frozen” countries. Remittances to such Americans may continue substantially as at
present under General Licensc 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 AND 75
Press Release No. 15.

N

ovem ber

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 Liccnse 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 exchange position of China will also be strengthened by the new General Licensc
No. 75 covering remittances to China. Pursuant to this licensc 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 available 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
remittances 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 delivery 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 agree­
ments with China whereby dollar and sterling exchange have been made available to the Stabili­
zation 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.




85

The term “ appointed bank” is defined in General License No. 58 as "a n y 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, tho names of which
appear on Schedule A of this general hcense 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)
(b)
(c)
(d)
(e)

The Chase Bank.
National City Bank of Now York.
Underwriters Bank for the Far East.
American Express Company.
Moscow Narodny Bank, Ltd.

(f) Thos. Cook & Son (Bankers) Ltd.
(g)
(h)
(i)
(j)
(k)
(1)
(m)
(n)
(o)
(p)
(q)
(r)
(s)
(t)
(u)
(v)
(w)
(x)
(y)
(z)

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.
Nedcrlandsche 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.
Oversea-Chinese Banking Corporation, Ltd.
Kinchcng Banking Corporation.
China Banking Corporation.
Bank of China.
Bank of Communications.
Farmers Bank of China.
Central Bank of China.
REFERENCE— GENERAL LICENSES NOS. 42 AND 42A

Press Release No. 16.

N

ovem ber

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 hcensed under General
License No. 42 need not have been reported on census report Form TFR-300 no such exemption




86

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.

D

ecem ber

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 genoral 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, tho Sumitomo Bank of California, the
Sumitomo Bank of Seattle, and tho 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 tho world, including trado with Latin America, in
which Japan or any national of Japan has any interest may be effected.
REFERENCE— GENERAL LICENSE NO. 68A
Press Release No. 18.

D

ecem ber

15, 1941.

The Treasury Department today further relaxed to some extent and under appropriate safe­
guards 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 tho 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 tho accounts of Japanese nationals
who have resided continuously within the continental United States since June 17, 1940 and
permits business enterprises within the continental United States owned and controlled by such
Japanese nationals to continue to operate, except in those cases in which Treasury representatives
aro maintained on the premises or an official Treasury notice is posted indicating that such
premises are under Government control. It is anticipated 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 be issued to many
Japanese enterprises in which Treasury representatives are continued to be maintained allowing
such enterprises to operate under Government surveillance.




87

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. 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
Press Release No.

20.

D e c e m b e r 24, 1941.

The Minister of Denmark to the United States has informed the Secretaiy 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 Secretaiy of the Treasury
in making this limitation effective.
In view of this request, the Treasury Department today issued Public Circular No. 9, winch
revokes all outstanding licenses and authorizations to the extent that they would otherwise
permit sale, presentation 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 dealings 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. 21.

D

ecem ber

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 Executive 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.

22.

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




88

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. 11; GENERAL LICENSE NO. 80
Press Release No. 2 3 .

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 Philippine Islands, the Treasury Department today issued Pubhc Circular No. 11 calling
attention to the fact that Phillippine 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 Philip­
pine 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 Philip­
pines. This was done to facilitate the administration of freezing control over Philippine assets
and also to provide the pubhc with specific standards to guide their compliance with the freezing
regulations relating to the Philippines. For all practical purposes this had the same effect as
though freezing control had been specifically extended to the Philippine Islands on January 1,
1942.
The public circular also announced that census reports on Form TFR-300 were required to
bo filed with respect to PhUippine 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 hcenses were issued dealing with problems arising out of freezing
Philippine assets. These general hcenses 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 citizens within the United States or within the generally licensed trade area.
REFERENCE— GENERAL RULING NO. 10
Press Release No. 24.

January

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 falhng into the hands of the Japanese. This is the first apphcation 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
remembering the experience of unprepared European countries that permitted hundred 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 tho President, vested in
the U. S. High Commissioner the sweeping powers of Title III of tho First War Powers Act of
1941 and authorized him to tako all necessary steps to prevent bullion, currency, coin, checks,
securities, and similar valuables from falhng 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 infonnation has come to the Department of any significant amount of such
valuables falling into enemy hands.
Secretary Morgenthau pointed out that High Commissioner Sayre bad 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 ruling under the freezing regulations imposing a strict




89

control over Philippine securities and impounding Philippine paper currency within the United
States. These measures, together with those taken simultaneously by the Philippine Govern­
ment, 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. 2 5 .

J a n u a r y 14, 19 42 .

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. Simultaneous­
ly the Philippine Government 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 PhUippine 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 account may be removed only with permission of the Treasury Department under a
freezing control licejnse. On or before February 15, 1942, banks must report all Philippine cur­
rency 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 securi­
ties accompanied by their description.
After February 1,1942, 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
winch 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 of 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 territory 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




90

pending further instruction. Each such bank should immediately forward to tho 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 February 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 Philippines, including political subdivisions thereof, or any corporation or other organiza­
tion 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 registration of Philippine Government and corporate securities located
within the United States, and to adopt such regulatory measures as will assist in canying
out the purposes of this notification with respect to both currency and securities. Compli­
ance 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 contrary, to have come under the control of the enmy.
J. M . E l i z a l d e ,
Resident Commissioner o f the Philippines
to the United States. "
REFERENCE— PUBLIC CIRCULAR NO. 14
Press Release No. 26.

F

ebruary

3 , 19 42 .

The Treasury Department today issued Public Circular No. 14 which prohibits the purchase,
without special license, for any blocked account of more than 1 percent 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
requirements relating to the purchase and sale of securities purusant to licenses issued under the
freezing Order. The circular prescribes a new form (TFR-4) which must be filed in any ease
where securities arc 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 T F R -4 is required to be filed.
The use of the new form will facilitate enforcement of the 1 percent 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.




91

REFERENCE— PUBLIC CIRCULAR NO. 4B
Press Release No. 27.

F

ebruary

10, 1942.

The Treasury Department announced today that Series K of Form TFR-300, to he used in
reporting the property of Philippine nationals, is being forwarded to the Federal Reserve Banks
for distribution to the pubhc with the next few days. This census, which was announced in
Pubhc Circular No. 11, issued on January 5, was necessitated by the Japanese invasion of the
Thilippine Islands.
Series K is patterned after previous series of Form TFR-300, which have resulted in tho
most comprehensive 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 Scries 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 specified 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 License No. 80 exempts the property of nationals of the Philippine
Islands residing in the United States. General License No. 81 relates to certain banking institu­
tions. 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 tho property of citizcns 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 tho armed forces of this country,
nor need reports be made of properly belonging to the family of any such person.
REFERENCE-GENERAL LICENSES NOS. 42, 42A, 68, AND 68A
Press Release No. 28.

F

ebruary

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 resi­
dent aliens by consolidating into one general hcense 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. 42-A 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 tho
same time, to tighten the controls in their application to individual cases singled out for close
supervision. The experience 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 arc not blocked unless they are affirmatively on notice to the con­
trary. The Treasury Department will rely on banking institutions to exercise continued vigi­
lance in seeing that accounts which are not entitled to the privileges of General License No. 42




92

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 tho 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. 29.

M

arch

1 3 ,1 9 4 2 .

The Treasury Department today took action to control the importation of foreign and
domestic currency into the United States from any blocked country not within the generally
licensed trade area or from any Proclaimed List national. General Ruling No. 6A subjects all
such currency to the controls extended to securities by General Ridings 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 tho currency
until the Treasury Department has authorized its release.
REFERENCE— GENERAL LICENSES NOS. 13, 15, 20, 21 AND 53; PUBLIC CIRCULAR
NO. 17
Press Release No. 3 0 .
M a r c h 13, 19 4 2 .

The Treasury Department announced today that, by reason of temporary Japanese occu­
pation 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 pre­
venting the liquidation in the United States of the assets of invaded countries and is in fine
with the policy regularly followed with respect 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. 1 1 ; COMMUNICATIONS RULING NO. 1
Press Release No. 3 1 .

M

arch

1 8 , 19 42 .

Regulations adapting the old 1917 Trading with the enemy Act restrictions against trade
and communications 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 commu­
nication to an enemy national. Communications must comply with all regulations issued by the
Office of Censorship. The Office of Censorship pointed out that communications authorized by
tho 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 liconsed under the
513017°— 43------ 7




93

freezing regulations. Moreover, no freezing control license will hereafter authorize transactions
involving trade or communication with an enemy national unless the license expressly refers to
this general ruling. However, the Secretary 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 Com­
munications Ruling No. 1 and General Ruling No. 11 so that the persons regarded as "enemy
nationals” for communications 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 liccnse 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 com­
munication phase and a different application on other phases.
General Ruling No. 11 also defines the terms “enemy national” , “ enemy territory” , and
“ trade or communication 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 na­
tional” 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 per­
mitted 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 fist” , 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 Govern­
ment of Germany, Italy, Japan, Bulgaria, Hungary or Rumania, whether situated within or with­
out 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 com­
munication with enemy nationals do not make it unlawful to deal with persons in the United
Slates merely because such persons are German or Italian aliens or because a business house




94

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, including 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 additional 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 hcense 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 Government of a Latin
American country undertaking to impose special local controls on the activities of a black hsted
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 ah telegrams, cablegrams,
and wireless messages dehvered 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 Censorship as hcensed under section 3 (c)
of the Trading with the enemy Act. Communications Ruling No. 1, issued today, supersedes
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. 11; PUBLIC CIRCULAR NO. 18
Press Release No. 3 2 .

M

akch

30, 19 42 .

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. Pubhc 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 authori­
zation 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 territory of Germany, Italy
and Japan, together with the territory under their occupation or control.




95

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 hav­
ing 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 within 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 applications for licenses, and they have been authorized to take action on such applica­
tions in certain cases without referring the applications to the Treasuiy 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 tho placing of the name of any noncomplying concern on the Proclaimed List,
the blocking of the assets of any such concern, and the criminal prosecution of the firm and
its officers under the Trading with the enemy Act, the First War Powers Act, and other appro­
priate legislation.
The Treasuiy Department is also urging American finms 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 country
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. 33.

A

p r il

21, 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.




96

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 un­
licensed transfers 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 overlooked 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 hardships. 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 suoh 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
nccessary 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 tho evidence of what the Axis was doing with
assets of the ovemm 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 tho occupied
areas. In these latter eases the point of the gun would not bo levelled at tho individual but would
be levelled at tho 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
overrun 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 tho 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 countries 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. Neutral
speculators would either hold such assignments with the intent of salvaging on them after the
war or in the hope of being able to squeeze the blocked assets through the freezing control by one
trick or another.




97

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 these assets are frustrated and the true owner’s interests are protected and he con­
tinues to have a valuable stake in a victory by the United Nations.
Commenting upon today’s ruling, Secretary Morgenthau stated: "This government served
notico 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 wo have consistently pursued this policy with respect to
every country falling under the Axis yoke. The policy of this government always has been un­
equivocal. 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 bo used as a part of Ger­
many’s economic ‘ new order’ in Europe or Japan’s ‘ co-prosperity sphere’ in the Pacific."
It was emphasized that while freezing control attempted to interfero as httle 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
loop-holes. 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 apphcation. 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 effec­
tive 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 hcensed 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 tho
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 trans­
fers are unenforceable against blocked accounts unless tho 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
hcensed. 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 hcense).
Treasury officials pointed out that the policy behind paragraph (2) of the general ruling was
understandable. If the general ruling had been merely prospective in operation, it would be easy
for Axis agents to vahdate 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 pur­
poses 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.




98

Paragraph (3) of the riding 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 bringing 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 con­
trol as those arising through voluntary action of the parties.
Paragraph (5) defines various terms employed in the ruling. For example: the term "trans­
fer" is given a very comprehensive meaning, excepting only certain types of transfers by operation
of the law (e. g., 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 effect
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. 34.

M

ay

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
tho equivalent or analogous institutions) of any of the American Republics under appropriate
assurances from such banks or institutions.
REFERENCE— GENERAL RULING NO.
Press Release No.

35.

13
M

ay

22, 1942.

The Treasury Department in a formal statemont issued today called attention to the faet
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 application. General Ruling No. 13, issued today, makes this clear and sets
forth the procedure for filing applications.
The Treasuiy 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.




99

REFERENCE—GENERAL RULING NO. 10A
Press Release No. 36.

A

ugust

12, 1942.

The Treasury Department today announced a moratorium on obligations of Philippine
companies held in the United States. This moratorium docs not apply to the obligations of
the Philippine Government.
Pursuant to General Ruling No. 10-A 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.
Treasuiy 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 obligations 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 wero
available and such payments could be made on an equitable basis. In such cases the Treasury
will license payments upon appropriate application by interested parties. Moreover, the Treas­
ury 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. 37.

A

ugust

14, 1942.

The Secretary of the Treasury today announced that tho 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.
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 tho
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 twodollar denomination), will be required to be surrendered to the United States customs authorities
at tho border. Such currcncy will be tinned over to the Federal Reserve Banks in accordance
with the procedure established under General Ruling No. 5, as amended.




100

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 inconvenience whatsoever in connection with the now rulings, provided that before de­
parting 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 tho 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. 3 8 .

S e p t e m b e r 1, 19 4 2 .

Information available to the Treasury Department indicates 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.
Pubhc 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 hcense. Treasury officials stated that as a
general policy tho Treasury Department does not issue specific hcenses 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 hcenses, however, require that the payment be effected
by means of non-negotiable mail or cable payment orders addressed to a bank in the country in
which the payment is to be made.




101

REFERENCE—PUBLIC CIRCULAR NO. 4C
Press Release No. 3 9 .

S e p t e m b e r 17, 19 42 .

The Treasuiy Department today announced regulations requiring a supplemental census
of forcign-owncd property.
Pursuant to Public Circular No. 4C, issued under the freezing orders on September 14,
1942, the supplemental 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 scries, 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 Department.
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 concerning the reporting requirements.
REFERENCE— PUBLIC CIRCULAR NO. 19; GENERAL RULING NO. 11; GENERAL
LICENSES NOS. 4 , 5 , 11 A, 13,20, 53, 6 6 ,69, AND 77
Press Release No. 40.

S e p t e m b e r 2 2 , 19 42 .

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 overthe-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 tho Treasury Department’s policy of eliminating reporting require­
ments 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 includc the Faroe Islands and
the New Hebrides Islands within the area in which trade is generally licensed bv General License
No. 53.




102

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 trans­
actions which may be engaged in without special license or the procedures under which any
transactions may be effected without special liccnse.
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 proc­
essors. Both of these licenses were revoked by today’s action because any transactions effected
pursuant to their terms may also bo 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.
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 coun­
tries 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. 41.

O c t o b e r 16, 1942.

The Treasury Department today announced that, after October 31, 1942, poisons 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 limita­
tion, 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 payment 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 themselves 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 reimpor­
tation; 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




103

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 chocks, 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
effcct 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. 4 2 .

N o v e m b e r 8, 1942.

The Secretary of the Treasury today announced that all of France within continental
Europe was declared to be “ enemy territory” under the restrictions against trade and com­
munication with the enemy.
Under previous regulations “ occupied” France was “ enemy territory” but “ unoccupied”
France was not so designated. Today’s action by the Secretary of the Treasury accords “ un­
occupied” 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.
REFERENCE-GENERAL RULING NO. 15
Press Release No. 4 3 .

F

ebruary

4,

1943.

The Treasury Department today issued regulations barring ah legal and other proceedings
which might interfere with the free and unrestricted uso and operation of Mexican railroad
equipment within the United States. Tliis action was taken at the request of the Government
of Mexico, the State Department, the Board of Economic Warfare, and other interested Govern­
ment agencies.
The new regulations arc intended to remove an important bottleneck in the transportation
of materials from Mexico to tho 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 stumbhng blocks to this
important wartime measure, however, has been the fear that such equipment might be seized
by creditors. Unless this factor is eliminated, the war effort will be impaired and tho entire
program of direct sliipment 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 Riding, 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 hcense is first obtained.
Officials stated that a specific exemption from the immunity granted by this Ruling is made
in favor of service and repair chargcs and other claims arising out of the operation within the
United States of Mexican railroad property on or after the date of this Ruling.




104

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 representatives 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, 19 41 .
SECTIONS 2, 3 (a) AND 3 (c) OF TRADING WITH THE ENEMY ACT
[P u b l i c — No. 9 1 — 6 5 t h C

on gress]

[40 Stat. L. 411]
S e c . 2 . That the word “ enemy,” a s 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 of 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 tho 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 tho United States or the successful prosecution
of the war shall so require, may, by proclamation, 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.




105

The words “ end of the war,” as used herein, shall be deemed to mean tho date of proclama­
tion of exchange of ratifications of tho 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.
Tho 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) To have any form of business or commercial communication or intercourse with.
Sec. 3.

That it shall be unlawful—

(a)
For any person in the United States, except with a licensc 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 onemy or ally of enemy.
*

*

*

*

*

*

*

S e c . 3 . (c) For any person (other than a person in the service of the United States Govern­
ment 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 communica­
tion, 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 tho
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 exemptions, as shall be prescribed by tho
President.

SECTION 5(b) OF TRADING WITH THE ENEMY ACT
(As Amended by Title III of First War Powers Act, 1941)
[P u b l i c — N o . 3 5 4 — 7 7 th C o n g r e s s ]

(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




106

(B)
investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any
acquisition holding, withholding, 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 «s the President may prescribe
such interest or property shah be held, used, administered, liquidated, sold, or otherwise dealt
with in the interest of and for the benefit of tho United States, and such designated agency or
person may perform any and all acts incident to the accomplishment or furtherance of these pur­
poses; and the President shah, 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 informa­
tion 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 produc­
tion, 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 shah to the extent
thereof be a full acquittance and discharge for all purposes of the obhgation 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, regidation, instruction, 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 jurisdic­
tion with the district courts of the United States of all cases, civil or criminal, arising upon the
high seas: Provided, however, That the foregoing 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 corporation 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.
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 tho 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




107

or act is authorized by the Secretary of tho Treasury by means of regulations, ridings, instruc­
tions, licenses or otherwise, pursuant to Executive Order No. 8389, as amended.

FRANKLIN D. ROOSEVELT.
T h e W h ite H ouse ,
December IS, 1941 .

II.

M

orgenthau,

Jr.,

Secretary o f the Treasury.
F r an cis B id d le ,
Attorney Oeneral of the United States.
[See Press Release A.]

EXECUTIVE ORDER NO. 9095
[Executive Order No. 9095 dated March 11, 1942, was amended July 6,1942, by Executive Order No. 9193.
The original text is omitted from this publication. Following is the text of Executive Order No. 9095 as
amended by Executive Order No. 9193 dated July 6, 1942.]

EXECUTIVE ORDER NO. 9193
AMENDING EXECUTIVE ORDER NO. 9095 ESTABLISHING THE OFFICE OF ALIEN
PROPERTY CUSTODIAN AND DEFINING ITS FUNCTIONS AND DUTIES AND
RELATED MATTER
By virtue of the authority vested in me by the Constitution, by tho First War 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 Executivo
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. The Alien Property Custodian shall
receive compensation at such rate as the President shall approve and in addition shall be entitled to
actual and necessary transportation, subsistence, and other expenses incidental to the perform­
ance of his duties. Within the limitation of such funds as may be made available for that purpo.so
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. The 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 evi­
dence of ownership or control of any such business enterprise, and any interest of any na­
ture 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 tho Secretary of tho
Treasuiy 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
countiy or national thereof, not including in such other property, however, cash,




108

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) any patent, patent application, design patent, design patent application, copyright,
copyright application, trademark or trademark application or right related thereto in
which any foreign country or national thereof has any interest and any property of any
nature whatsoever (including, without limitation, royalties and license fees) payable or
held with respect thereto, and any interest of 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 of any nature whatsoever which is in the process of administration by any
person acting under judicial supervision or which is in partition, libel, condemnation or
other similar proceedings and which is payable or deliverable to, or claimed by, a desig­
nated enemy country or national thereof.
When the Alien Property Custodian determines to exercise any power and authority conferred
upon him by this section with respect to any of the foregoing property over which the Secretary
of the Treasury is exercising any control and so notifies the Secretary of the Treasury in writing,
the Secretary of the Treasury shall release all control of such property, except as authorized or
directed by the Alien Property Custodian.
3. Subject to tho provisions of this Executive Order, all powers and authority conferred
upon me by sections 3 (a) and 5 (b) of the Trading with the Enemy Act, as amended, are hereby
delegated to the Secretary of the Treasury or any person, agency, or instrumentality designated
by him; provided, however, that when any property or'interest, not belonging to a foreign govern­
ment or central bank, shall be vested by the Secretary of tho Treasury, such property or interest
shall be vested in, and dealt with by, the Alien Property Custodian upon the terms directed by
the Secretary of the Treasury. Except as otherwise provided herein, this Executive Order
shall not be deemed to modify or amend Executive Order No. 8389, as amended, or the President’s
Proclamation of July 17, 1942, or Executive Order No. 8839, as amended, or the regulations,
rulings, licenses and other action taken thereunder, or in connection therewith.
4. Without limitation as to any other powers or authority of the Secretary of the Treasury
or the Alien Property Custodian under anjTother provision of this Executive Order, the Secretary
of the Treasury and the Alien 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 of this Executive Order. Tho Sccrctary of the Treasury and the Alien Property
Custodian each shall make available to the other all information in his files to enable the other to
discharge his functions, and shall keep each other currently informed as to investigations being con­
ducted with respect to enemy ownership or control of business enterprises within the United States.
5. The Alien Property Custodian is authorized to issue appropriate regulations governing
the service of process or notice upon any person within any designated enemy country or any
enemy-occupied territory in connection with any court or administrative action or proceeding
within the United States. The Alien 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 judgment and discretion is or may be in the interest of the United States.
If, as a result of any such action or proceoding, 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 expenses incurred by the Alien Property Custodian in such action or proceeding,
shall be subject to the provisions of Executive Order No. 8389, as amended, provided, however,
that this shall not be deemed to limit the powers of the Alien Property Custodian under section 2
513017“




109

of this Order; and provided, further, that the Alien Property Custodian may vest an amount of
such property equal to the costs and expenses incurred by the Ahen Property Custodian in such
action or proceeding.
6. To enable the Alien Property Custodian to carry out his functions under this Executive
Order, there are hereby delegated to tho Alien Property Custodian or any person, agency, or
instrumentality designated by him all powers and authority conferred upon me by section 5 (b)
of the Trading with the Enemy Act, as amended, including, but not limited to, the power to
make such investigations and require such reports as he deems necessary or appropriate to deter­
mine whether any enterprise or property should be subject to his jurisdiction and control under
this Executive Order. The powers and authority conferred upon the Alien Property Custodian
by Executive Order No. 9142 shall be administered by him in conformity with the provisions
of this Executive Order.
7. In the exercise of the authority herein delegated, the Ahen Property Custodian shaU be
subject to the provisions of Executive Order No. 8839 of July 30, 1941, and shall designate a
representative to the Board of Economic Warfare in accordance with section 6 thereof.
8. All records and other property (including office equipment) of the Treasury Depart­
ment which are used primarily in the administration of powers and duties to be exercised by the
Alien Property Custodian, and such personnel as is used primarily in the administration of 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 of such powers and duties),
as the Secretary of the Treasury and the Alien Property Custodian shall jointly certify for trans­
fer, shall be transferred to the Office of the Ahen Property Custodian. In the event of disagree­
ment concerning the transfer of any personnel, records, or property, the determination shall be
made by the Director of the Bureau of the Budget, pursuant to the formula here prescribed.
Any personnel transferred pursuant to this Executive Order shall bo transferred without loss of
such Civil Service status or eligibility therefor as they may have.
9. This Executive Order shall not be deemed to modify or amend Executive Order No. 8843
of August 9, 1941, and the regulations, rulings, licenses and other action taken thereunder. Any
and all action heretofore taken by the Secretary of the Treasury or the Alien Property Custodian,
or by any person, agency, or instrumentality designated by either of them, pursuant to sections
3 (a) and 5 (b) of tho Trading with the enemy Act, as amended, or pursuant to prior Executive
Orders, and any and all action heretofore taken by the Board of Governors of the Federal Reserve
System pursuant to Executive Order No. 8843 of August 9, 1941, are hereby confirmed and
ratified.
10. For the purpose of this Executive Order:
(a)
The term “ designated enemy country” shall mean any foreign country against
which the United States has declared the existence of a state of war (Germany, Italy,
Japan, Bulgaria, Hungary and Rumania) and any other country with wliich tho United
States is at war in the future. The term “national” shall have the meaning prescribed in
section 5 of Executive Order No. 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 of a designated enemy country unless
the Ahen Property Custodian determines: (i) that such person is controlled by or acting
for or on behalf of (including cloaks for) a designated enemy country or a person within
such country; or (ii) that such person is a citizen or subject of a designated enemy country
and within an enemy-occupied country or area; or (iii) that the national interest of the
United States requires that such person be treated as a national of a designated enemy
country. For the purpose of this Executive Order any determination by the Ahen Property
Custodian that any property or interest of any foreign country or national thereof is the
property or interest of a designated enemy country or national thereof shall be final and
conclusive as to the power of the Ahen Property Custodian to exercise any of the power or
authority conferred upon me by section 5 (b) of tho Trading with the enemy Act, as
amended.




110

(b)
The term “business enterprise within the United States” shall mean any individual
proprietorship, partnership, corporation or otber organization primarily engaged in the
conduct of a business within the United States, and any other individual proprietorship,
partnership, corporation or other organization to the extent that it has an established office
within the United States engaged in the conduct of business within the United States.
11. The Secretary of the Treasury or the Alien Property Custodian, as the case may be,
shall, except as otherwise agreed to by the Secretary of State, consult with the Secretary of State
before vesting any property or interest pursuant to this Executive Order, and the Secretary of the
Treasury shall consult with the Secretary of State before issuing any Order adding any additional
foreign countries to section 3 of Executive Order No. 8389, as amended.
12. Any orders, regulations, rulings, instructions, licenses or other actions issued or taken by
any person, agency or instrumentality referred to in this Executive Order, shall be final and con­
clusive as to the power of such person, agency, or instrumentality to exercise any of the power or
authority conferred upon me by sections 3 (a) and 5 (b) of the Trading 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 of the Treasury and the Alien Property Custodian shall be
deemed to be authorized to exercise severally any and all authority, rights, privileges and powers
conferred on the President by sections 3 (a) and 5 (b) of the Trading with the enemy Act of October
6, 1917, as amended, and by sections 301 and 302 of Title III of the First War Powers Act, 1941,
approved December 18, 1941. No person affected by any order, regulation, ruling, instruction,
license or other action issued or taken by either the Secretary of the Treasury or the Alien Prop­
erty 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 of this Executive Order, such order
regulation, ruling, instruction, license or other action was within the jurisdiction of the Alien,
Property Custodian rather than the Secretary of 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 provisions of this Executive Order or any other proclamation, order or regulation, issued under
sections 3 (a) or 5 (b) of the Trading with the enemy Act, as amended, shall be conclusively pre­
sumed 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 pro­
visions of this Executive Order.
T h e W h it e H o u s e ,
FRANKLIN D . ROOSEVELT.
July 6 ,1 9 4 2 .
[See Press Release B.]

REFERENCE— SECTION 3 (a) TRADING WITH THE ENEMY ACT; GENERAL LICENSE
THEREUNDER
Press Release A.
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 Sccretaiy 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
becamo effective. This section prohibits any person from trading with enemy unless authorized
by tho 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 Treasuiy Department already controls transactions involving German, Italian or Japa­
nese interests under the freezing orders. Today’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 under 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.




Ill

STATEMENT ISSUED BY THE WHITE HOUSE WITH REFERENCE TO THE AMEND­
MENT OF EXECUTIVE ORDER NO. 9095, ON JULY 6, 1942
Press Release B.
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-owned patents, copyrights, and trade-marks.
(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 repre­
sentation 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 Alien 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 tho 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 tho Treasury have occasion 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. Appro­
priate 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.




112


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102