[Excerpts from H.R. 4960, 65th Cong., 1st sess.] SECTIONS 5 AND 6 TRADING WITH THE ENEMY ACT (1917) SEC. 5. (a) That the President, if he shall find it compatible 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 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. (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 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. Allen property custodian authorized. ferred. SEC. 6. That the President is authorized to appoint, prescribe 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 Provisos. Civil service Detailed an- 83d Congress } COMMITTEE PRINT TRADING WITH THE ENEMY ACT INTERIM REPORT OF THE SUBCOMMITTEE TO INVESTIGATE THE 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 ROBERT C. HENDRICKSON, New Jersey JOHN MARSHALL BUTLER, Maryland PAT MCCARRAN, Nevada HARLEY M. KILGORE, West Virginia 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 ARMISTEAD W. SAPP, Subcommittee Counsel (II) |