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No. 23. EXCHANGE OF NOTES REGARDING THE RELEASE OF NETHERLANDS ASSETS IN THE UNITED STATES OF AMERICA. 'S-GRAVENHAGE, 22 JANUARY AND 20 MARCH 1946, AND WASHINGTON, 11 FEBRUARY 1946

's-Gravenhage, January 22nd, 1946

The Hon. Fred M. Vinson,
Secretary of the Treasury,
Washington, D.C.

My dear Mr. Secretary,

In recent discussions held between representatives of my Department and members of the United States Treasury, it was indicated that your Department is now prepared to institute a procedure for the release of Netherlands assets now blocked under Executive Order No. 8389 and the U.S. Trading with the Enemy Act of 1917 as amended.

I am grateful for the prompt action of the United States Government in blocking Netherlands assets on 10th May 1940, and the ensuing practice of foreign funds control, which has fitted remarkably well in the principles and aims of the Joint Declaration of 5th January 1943, of which, as you will recall, the Netherlands Government, then in London, was one of the originators, and the terms of Resolution VI of the United Nations Monetary and Financial Conference, held in Bretton Woods. The principles underlying this resolution have since been given effect in the Netherlands legislation now in force.

I have studied general license No. 95 of your Department which it has been suggested might be made applicable to the Netherlands. After consultation with my colleagues I confirm in this connection my agreement on the following points:

1. The competent Netherlands authorities will assume the responsibility for carrying out the procedure of certification provided for by the license. No property will be certified until the Netherlands Government has ascertained by