The review. [volume] (High Point, N.C.) 1908-19??, 1917-10-18
GREAT POWER GIVEN
WAR TRADE BOARD

w BUSINESS IN the United States
after November 5. ENEMY comron;os
also may not change names thew nse5
@t the beginning of the war witbo,t
special license.
AFFECTS Financial transactions
Secretary McAdoo is ves+ad h., H.,
president with and is expected. to turn
over 10 the federal reserve board "the
executive administration of anv in.
Vesugat1on, regulation or prohibition
Oh any transaction in foreign exchange.
export or earmarking of gold or sill
Ver~ CON- or bullion or currency trans
1ers OF credit in any form( other than
creolts relating solely to transactions
70 be executed wholly With the
united States) and transfer of evil
dence of Indebtedness or of ownership
OF property between the United States
ana any foreign country, or between
the residents fone or more foreign
countries, by any person with the
united States" The reserve board al.
ready exercises virtual control over
gold and silver exports.
the secretary of the treasury's vest
ed authority to prevent transmission of
information to any enemy either to or
from the United States will be exer-
c1sed by the secret service. The Sec
etary may permit this transmission
when he wishes.
Enemy Insurance Companies.
81 further authorize the secretary of
the treasury" says the president Gin
his order, ito grant a license under
such terms and conditions as are not
inconsistent with law or to withhold
or refuse the same to any enemy or
ally of enemy insurance or reinsur-
ance company doing business within
the United States through an agency
or branch office or otherwise, which
shall make application within 80 days
Of October 6, 1917" (The date the
act was approved).
The censorship board is entrusted
with the censorship of communica-
tons or mail orders, radio or other
means of transmission passing be-
tween the United States and any for
eign country from time to time speci
fed by the president, or carried by any
vessel, or other means of transporta-
ritory Of the United States and bound
to or from any foreign country"
Among the most important and far
reaching of the povisions OF the enc
my act" says an official statement ex-
planning the law, "are those dealing
with the taking over by this govern
ment of the custody and control of
enemy property within the United
States.
Enemy Property in America.
"The poperty affected by these pro-
visions is that which is located in the
United States and belonging to any
person or corporation that is an
enemy or ~ally of enemy within the
definitions of the act, referred to
above, except those licensed to cen
tinue doing business in the United
States. German subjects and the sub
iects of her allies resident in the Uni
ted States do not, from the mere fact
of their nationality, fall within these
definitions.
"The act makes it the duty of every
concern within the United States issu-
ing shares of stock, within so days al
to the alien property custodian the
names of such of it's officers, directors
and stockholders as are known to be
or reasonably believed to be enemies,
or ally of enemy and the amount O
stock or shares owned by each.
"The act provides in addition under
severe penalties that every person IN
the United States holding any properly
an enemy or ally of enemy or lot
arv person who he may have reason
q hle cause to believe to be an enemy
sor ally of enemy must report the fact
RI the alien property custodian WITHIN
On DAVIS after the passage Of the act.
So also, any person IN the OnIleu
States indebted in any way to an en-
emv' or ally of enemy or to a per
son whom he may have reasonaole
cause to believe to be an enemy or
sa1lv of enemy must make a similar
report.
Nav Take Over Property
The alien property custodian may
require a transfer to himself OF any
nroperty held for or debt owed 10 al
anemv or enemy ally and any person
en- holding any property, or so OWING
anv money, may transfer sucn prop
erty or pay such money to the cuS'o-
dian with his consent.
Property or money TRANSFERRED "
the alien property custodian will De
held until the end of the war and then
dealt with as congress shall direct Al
rnnds or ready money may be invested
in Liberty bonds and held in sucn
form. ,.,,, ~.
XIV If enemy" is explicit. Any per
49,, REGARDLESS of nationality, VINO re-