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's-Gravenhage, March 20, 1946

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

My dear Mr. Secretary,

The provisions of the letter of assurances of January 22, 1946 will apply with respect to securities issued in the United States which are located in the Netherlands whenever such securities are made the subject of any certification under the proposed license. Moreover, the mutual principles and objectives referred to in the letter are being applied to American securities in the Netherlands, as the Netherlands Government is investigating the ownership of all such securities. This is done in accordance with the provisions of the Royal Decree of November 16, 1945, F 272, which sets up a Registration Bureau for all securities located in the Netherlands. A certification will be affixed to each security issued in the United States which, in the course of the procedure mentioned above, does not appear to be excluded from the benefits of the license while other such securities will be appropriately segregated until the question of their final disposition is resolved. In accordance with the provisions of the letter of assurances the Treasury Department will be informed of all securities so segregated.

Accept, my dear Mr. Secretary, the expression of my high esteem,

P. Lieftinck
Minister of Finance

No. 23