The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-03-01
RAISES FOREIGN
EXCHANGE BAN
Restriction on Russian Rubles
Trading Is to Be Kept
in Force.
OTHER LANDS IN CONCERT
Dealers Must Make Certain
Customers Are Not Acting
Against U. 8. Interests.
Special DespafcA % TIE srr.

| cpcCtut DcApVtCN 70 GUN.
WASHINGTON. Feb. ss-The Federal
raising of restrictions Affecting foreign
| exchange transactions. Tho announce.
| ment was made coincident with notice
OF the lifting Of cable censorship af-
fecting foreign trade and financial trans.
actions.
In its announcement the board tool,
pains TO cali attention to its order re-
| specting trading in Russian rubles and
] made plain that such trading would be
suppressed regardless Of other restric-
tons lifted
The ruble order roads: Until other.
, wise ordered the importation or exporta.
ton Of Russian rubies or the transfe,
OF funds for their purchase by person,
! and dealers in the United States is
| prohibited"
The board announces that dealers In
foreign exchange, as defined under the
| executive order OF the President Of JAN
| uary 28, 1918, may until otherwise
instructed transfer funds to persons not
! enemies or allies OF enemiee residents OF
Rumania, Servia, Syria, Mesoptomania
| Finland. Bulgaria, Turkey in Asia, Tur-
key In Europe, all Black Sea ports. Bo-
hernia and Moravia Gas existing on Au-
gust /. 1910. within territory included
In the line set out In article Of the
military clause Of the armistice protocol
| OF November 3, 1918 (paet Of the Tren-
tino); those portions OF Palestine ex-
tending as far north as the line from
Alexandretta to, Aleppo. inclusive, and
as far east as the Hedjaz Railway.
The board announced that foreign ex-
change dealers In future need not pro-
sent for its approval applications for
travellers letters OF credit in excess OF
n NJ rtt n In ial
letters of credit or to make transfers Of
funds for purchasing commodities to be
warehoused or applications to open COM
mercial credits for exporting goods from
one foreign country to another foreign
country.
In making the announcement the
board says: The withdrawal of these
requirements does not remove the re-
sponsibility from dealers OF taking
proper declarations OF non-enemy inter-
est nor from reporting to the division of
foreign exchange before taking any &C.
tion In case they have reason to believe
that any transaction requested of them
would. II carried out, be detrimental to
the interests Of the United States"
The board has rescinded 10 regulation
of June IL. 1918. in 90 far as It applies
to advice to 1t of deposits by dealers for
account OF foreign corporations, but still
requires that dealers accepting such de-
posts demand from persons making the
deposits. who may not be dealers Gus
toner's statements describing the trans
actions The board calls the attention Of
dealers to the following facts:
The trading with the enemy act Is still
law. The executive order of the Presi-
dent of January &c, 1918. must be
obeyed. with regulations issued under It.
1t Is still against the law to make re-
m tn
gard to whether 1t IL at present within
allied control or not except as per-
mission is extended through the d.
vision OF foreign exchange.
As rapidly as possible the board will
authorize transfers or funds to portions
OF enemy territory under allied control
Great Britain. Canada and France are
acting coincidentally with the United.
States In the measures outlined