New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-09
President Assures Aliens
That Property Is Secure
Even if War Comes
u. S. RESERVE BOARD
TO PROTECT BANKS
Offers Help in Case of Run
Senate Bill Would
Authorize Seizures

Washington, Feb. s.-A formal state
ment giving assurances that the govern
ment has no intention of Selling bank
deposits or other property belonging 10
any foreign subject-even IN the event
of war was issued by the State De-
partment to-day with the approval OF
President Wilson.
The Federal Reserve Board has taken
steps tossafeguard any bank threatened
BY run by foreisn-born depositors
and will aid any bank in the country
whose stability is thus threatened.
In the case Of member banks, 1t is
said. the board is prepared to discount
virtually the banks entire holdings o.
paper. Non-member banks needing ala
10 meet such run, it is understood
NAV receive il indirectly from the
board through member banks.
Will Respect Private Rights
The State Departments statement
follows:
ut having been reported to him that
there is anxiety in some quarters o"
the part of persons residing IN this
cclntr, yho are the subjects OF for
eien states lest their bank deposits OF
other property should be seized IN the
event Of war between the United States
and q foreign nation, the President
authorizes the statement that all such
fears are entirely unfounded:
"Tbe Government of the United States
will in no circumstances take adVah-
t.ge of state of war to take pos
session Of property TO when inter
rational understandings and the recog-
nized law of the land give IT no just
claim or title. 1t will scrupulously re-
snect all private rights alike OF ITS
own citizens and the subjects OF for'
eign states .
TO Allay Depositors' Fears
Tho statement was prompted by the
anxiety OF German subjects IN some
sections regarding savings deposits ahu
nv the many reports IN circulation re-
garding the intention of the govern
ment concerning war-bound vessels III
American ports.
IL makes no specific reference 10 the
Prussian American treaty OF 1879 "hlch
proides for the immunity OF sucn prop.
erty. but which has been regarded as OF
doubtful validity.
The decision is understood 10 be IN
fprtberance of President Wilson's de-
termination that there shall be nothing
in ,be conduct OF the United States to
warrant criticism. rather than lndlca-
five of anv specific inclination to ac-
knowledge the validity of disputed pro-
visions Of the old treaty
Officials did not comment on press
dispatch from Berlin saying Ambassa-
dor Gerard had been asked 20 secure a
re-ratifcation of the treaty, but pre-
viously they had indicated that such
suggestion would find no response here
under present conditions.
Bill TO Authorize Seizures
In spite OF the Presidents attitude,
bill which would authorize him TO seize,
not only in the event Of war, but IN
time of threatened war" all merchant
ment belonging to foreign nations IN
American ports, and remove their crews
was favorably reported by the Senate
judiciary Committee to-day.
The bill provides that whenever the
President "shall declare national
emergency to exist by reason OF actual
or threatened war, instruction or in
vasion. or disturbance of the interna-
tional relations Of the United States,
the Secretary Of the Treasury can make
rules governing the anchorage and
movement Of all foreign and domestic
vessels. and is empowered to take full
possession and control of such vessels
and 10 remove therefrom the officers
and crew thereof and all Of the persons
not specially authorized by him to go
or remain on board such vessels"