[Excerpts from H.R. 4960, 65th Cong., 1st sess.]

SECTIONS 5 AND 6 TRADING WITH THE ENEMY ACT (1917)

restrictions allowed for ally of enemy.

Licenses authorized. Acts, etc., included.

Ante, pp. 413,

412.

SEC. 5. (a) That the President, if he shall find it compatible Suspension of with the safety of the United States and with the successful prosecution of the war, may, by proclamation, suspend the provisions of this Act so far as they apply to any ally of enemy, and he may revoke or renew such suspension from time to time; and the President may grant licenses, special or general, temporary or otherwise, and for such period of time and containing such provisions and conditions as he shall prescribe, to any person or class of persons to do business as provided in subsection (a) of section four hereof, and to perform any act made unlawful without such license in section three hereof, and to file and prosecute applications under subsection (b) of section ten hereof; and he may revoke or renew such licenses from time to time, if he shall be of opinion that such grant or revocation or renewal shall Post, p. 420. be compatible with the safety of the United States and with the successful prosecution of the war; and he may make such rules and regulations, not inconsistent with law, as may be necessary and proper to carry out the provisions of this Act; and the President may exercise any power or authority conferred by this Act through such officer or officers as he shall direct.

If the President shall have reasonable cause to believe that any act is about to be performed in violation of section three hereof he shall have authority to order the postponement of the performance of such act for a period not exceeding ninety days, pending investigation of the facts by him.

Revocation, etc.

Delegation of power.

Suspension of acts pending Investigation.

Regulation, etc. of foreign exchange, coin exports, property transfers,

etc.

Post, p. 966.

(b) That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, export or earmarkings of gold or silver coin or bullion or currency, transfers of credit in any form (other than credits relating solely to transactions to be executed wholly within the United States), and transfer of evidences of indebtedness or of the ownership of property between the United States and any foreign country, whether enemy, ally of enemy or otherwise, or between residents of one or more foreign countries, by any person within the United States; and he may require any such person engaged Compulsory in any such transaction to furnish, under oath, complete information relative thereto, 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.

testimony.

custodian authorized.

ferred.

SEC. 6. That the President is authorized to appoint, prescribe Allen property the duties of, and fix the salary (not to exceed $5,000 per annum) of an official to be known as the alien property custodian, who shall be empowered to receive all money and property in the Powers conUnited States due or belonging to an enemy, or ally of enemy, which may be paid, conveyed, transferred, assigned, or delivered to said custodian under the provisions of this Act; and to hold, administer, and account for the same under the general direction of the President and as provided in this Act. The alien prop- Bond. erty custodian shall give such bond or bonds, and in such form

and amount, and with such security as the President shall pre- Administrative scribe. The President may further employ in the District of employees. Columbia and elsewhere and fix the compensation of such clerks,

(101)

attorneys, investigators, accountants, and other employees as he
may find necessary for the due administration of the provisions
of this Act: Provided, That such clerks, investigators, account-
ants, and other employees shall be appointed from lists of eligibles
to be supplied by the Civil Service Commission and in accord-
ance with the civil-service law: Provided further, That the Presi-
dent shall cause a detailed report to be made to Congress on the
first day of January of each year of all proceedings had under
this Act during the year preceding. Such report shall contain
a list of all persons appointed or employed, with the salary or
compensation paid to each, and a statement of the different
kinds of property taken into custody and the disposition made
thereof.

Provisos.
Civil service
eligibles to
be used.

Detailed an-
nual reports
required.

SUBCOMMITTEE TO INVESTIGATE THE
ADMINISTRATION OF THE TRADING WITH
THE ENEMY ACT

TO THE

COMMITTEE ON THE JUDICIARY

UNITED STATES SENATE

(Pursuant to S. Res. 245, 82d Congress)

Printed for the use of the Committee on the Judiciary

UNITED STATES

GOVERNMENT PRINTING OFFICE

WASHINGTON : 1953

COMMITTEE ON THE JUDICIARY

WILLIAM LANGER, North Dakota, Chairman

ALEXANDER WILEY, Wisconsin
WILLIAM E. JENNER, Indiana
ARTHUR V. WATKINS, Utah
ROBERT C. HENDRICKSON, New Jersey
EVERETT MCKINLEY DIRKSEN, Illinois
HERMAN WELKER, Idaho

JOHN MARSHALL BUTLER, Maryland

PAT MCCARRAN, Nevada
HARLEY M. KILGORE, West Virginia
JAMES O. EASTLAND, Mississippi
ESTES KEFAUVER, Tennessee
WILLIS SMITH, North Carolina
OLIN D. JOHNSTON, South Carolina
THOMAS C. HENNINGS, JR., Missouri

SUBCOMMITTEE ON TRADING WITH THE ENEMY ACT

(Pursuant to S. Res. 245, 82d Cong.)

WILLIS SMITH, North Carolina, Subcommittee Chairman

PAT MCCARRAN, Nevada
WARREN G. MAGNUSON, Washington
HERBERT R. O'CONOR, Maryland

ALEXANDER WILEY, Wisconsin
HOMER FERGUSON, Michigan
ROBERT C. HENDRICKSON, New Jersey

ARMISTEAD W. SAPP, Subcommittee Counsel

(II)