During the present war no enemy or ally of the enemy and no partnership of which an enemy or ally of the enemy is a member may assume any name other than that by which it was ordinarily known at the beginning of the war, except by license from the President.

Finally, the President, during the war, whenever the public safety or the public interest require it, may prohibit any and all foreign companies from doing business in the United States; or the President may license such company or companies to do business upon such terms as he may deem proper.

Section 5 authorizes the President, if he finds it compatible with the safety of the United States and the successful prosecution of the war, by proclamation to suspend the provisions of the act so far as they apply to an ally of the enemy, and may grant licenses under such conditions as he may prescribe for such trade; and any such license granted may be renewed or may be revoked, if in the opinion of the President this is required for the safety of the United States and the successful prosecution of the war.

The President may investigate, regulate, or prohibit under such rules and regulations as he may prescribe by license, or otherwise, all transactions in foreign exchange, export or ear markings of gold or silver coin or bullion, or currency, or any other form of credit, or transfers of evidence of indebtedness, or ownership of property between the United States and any foreign country, whether enemy, ally of enemy, or otherwise, or between the residents of one or more foreign countries by any person within the United States. In the exercise of this act the President may require full and detailed information in regard to all these matters.

Section 6 authorizes the President to appoint, prescribe and fix the duties of an officer to be known as the alien property custodian. Such officer shall be empowered to receive all money and property in the United States due or belonging to an enemy or ally of the enemy, which may be paid, transferred or assigned to said officer. The custodian shall hold and account for such property as provided in this act.

Section 7 prescribes that every corporation and other incorporated association, bank, or trustee, issuing shares or certificates representing beneficial interests shall, under such rules and regulations as the President may prescribe, transmit to the alien property custodian a full list of all enemy or ally of the enemy property within their charge.

Also the President may require that a similar list shall be transmitted of all stocks and shares owned on February 3, 1917,

by any person now an enemy or ally of the enemy to the alien property custodian.

The President may require that such lists of property of all kinds shall be transmitted to the alien property custodian, although in the names of others, provided there is reasonable cause for belief that such property belongs to an enemy or ally of the

enemy.

The President may require any money or property belonging to or owned by, or held for or on account of an enemy or ally of the enemy, not holding a license granted by the President, to be conveyed to the alien property custodian. If this requirement is not made by the President the custodian of enemy or ally of the enemy property may transfer same at his own initiative to the alien property custodian, under such rules and regulations as the President prescribes.

Sections 8 and 9 contain full provisions as to the manner in which transactions in regard to property belonging to an enemy or ally of the enemy shall be handled.

Section 10 covers the matter of letters patent, registration of trade-marks, prints, labels, and copyrights. It allows the continuance of such privileges and rights, under definite regulations, if licensed by the President, and the President may prescribe rules and regulations under which such privileges are granted, including the fixing of prices.

Whenever the publication of an invention by the granting of a patent may in the opinion of the President be detrimental to the public safety or defense, he may order that the invention be kept secret and withhold the granting of the patent until the end of the war.

Section 11 authorizes the President, during the war, in case he finds the public safety requires it, by proclamation to forbid the importation from any country of any article or articles into the United States for such times and under such regulations as he may prescribe; with the provision, however, that no preference shall be given to the ports of one state over those of another.

Section 12 prescribes that all money received by the alien property custodian shall be deposited in the treasury of the United States and may be invested and reinvested by the secretary of the treasury in United States bonds or United States certificates of indebtedness, under such rules and regulations as the President may prescribe. All property, other than money, transmitted to the alien property custodian is to be safely held and administered by him as trustee under conditions which are carefully prescribed. Whether the property is managed directly

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by the alien property custodian or by agents or depositaries with which the property is placed, any income from same is to be deposited in the treasury of the United States and used as heretofore prescribed. The alien property custodian has all the common-law rights of a trustee, in case he sells any property, shares, or certificates. The money received from any sale shall be deposited with the United States Treasurer, to be used as heretofore prescribed. At the end of the war, the claim of an enemy or ally of the enemy for money or property received by the alien property custodian or deposited with the United States Treasurer shall be settled as Congress shall direct; provided, however, that upon the order of the President or the court the alien property custodian or the treasurer of the United States, under prescribed regulations, may forthwith pay to the person to whom the President or court shall order the money held by such custodian or treasurer.

Section 13 requires the master of a vessel to deliver to the collector of customs in the district from which the vessel sails a manifest of the goods carried and to whom consigned. He is to state by oath that the cargo will not be delivered in violation of this act.

Section 14 authorizes the collector of customs to refuse clearance to any vessel in which he has reasonable cause to believe the statements of the manifest are false. Also the collector is to report to the President the amount of gold or silver coin or bullion contained in any cargo intended for export, and the consignor and consignee.

Section 15 makes an appropriation of $450,000 to carry out the provisions of the act, for the fiscal year ending June 30, 1918. Section 16 provides penalties by fine and imprisonment for violation of the act.

Section 17 gives the district courts of the United States jurisdiction in regard to the provisions of the act.

Section 18 gives the several courts of the Philippine Islands and the Canal Zone jurisdiction in regard to their respective districts.

Section 19 prescribes that ten days after the approval of this act and until the end of the war, it shall be unlawful for any person, firm, or corporation, or association, to print, publish, or circulate, or cause to be printed, published, or circulated in any foreign language, any news item, editorial, or other printed matter, respecting the government of the United States, or of any nation engaged in the present war, its policies, international relations, the state or conduct of the war, or any matter relating

thereto: Provided, that this section shall not apply to any print, newspaper, or publication where the publisher or distributor thereof, on or before offering the same for mailing, or in any manner distributing it to the public, has filed with the postmaster at the place of publication, in the form of an affidavit, a true and complete translation of the entire article containing such matter proposed to be published in such print, newspaper, or publication. Any newspaper which does not conform to this act is declared to be non-mailable; but the President is given authority to allow the printing of newspapers in foreign language without compliance with this section, provided he is satisfied that this may be done without detriment to the United States; but he can revoke such permit at his discretion.

The section further provides penalties for violation of the act.

PROCLAMATIONS AND ACTIONS OF THE PRESIDENT.

On October 13, acting under the Trading with the Enemy Act, the President created the War Trade Board, to take over the powers and duties of the Exports Administrative Board. This board is composed of the Secretary of State, the Secretary of the Treasury, the Secretary of Agriculture, the Secretary of Commerce, the Food Administrator, and the United States Shipping Board. Since the Exports Administrative Board had the same composition, the action amounts merely to a change of name. In addition to the power of controlling exports, there was placed upon the War Trade Board the control of imports.

The duties of administering the provision of the law so far as ordinary commodities are concerned in trading with the enemy or ally of the enemy passes to the War Trade Board.

The Secretary of the Treasury is vested with the executive administration of (1) the control of transactions in foreign exchange, coin, bullion, and all forms of credit; (2) the control of communication between the United States and the enemy or ally of the enemy; and (3) the control of insurance.

A censorship is created, composed of the Secretary of War, the Secretary of the Navy, the Postmaster General, the War Trade Board, and the chairman of the Committee on Public Information; and upon this board is placed the executive administration of all rules and regulations in regard to censorship of communication by mail, cable, or any other manner between the United States and any foreign country.

The Federal Trade Commission is vested with authority conferred by law over patents, trademarks, prints, labels, and copyrights.

The Postmaster General is vested with executive administration of all provisions of the Trading with the Enemy Act relating to printing, publication, or circulation of material in any foreign language.

The Secretary of State is vested with the executive administration of transportation of subjects or citizens of the enemy or ally of the enemy upon any vessel of American registry.

The Secretary of Commerce is vested with power of clearance of vessels.

Upon the alien property custodian is placed the executive administration of the provisions of the act relating to enemy or ally of the enemy property.

On November 28 the President supplemented his previous proclamation of August 27 in regard to export of commodities. A considerable number of commodities are added whose conservation is regarded as essential to the vigorous prosecution of the war; and, for the exportation of any of these commodities, a license is required.

On the same day a far more important proclamation was issued by the President, which requires a license from the War Trade Board for importation to the United States of practically all commodities imported in any quantity from almost every country from which they come. By this action the War Trade Board will be in a position to completely control the importation of commodities from any country or firm which is taking an attitude favorable to the enemy or ally of the enemy.

The President appointed Mr. A. Mitchell Palmer alien property custodian. It was ordered that all money or property held by German citizens living abroad must be reported to the alien enemy custodian by December 5. After that time the property and money will be taken over by the government. It is estimated that such property in the United States may amount to $600,000,000.

ACTIONS OF THE TREASURER.

On November 25 the Secretary of the Treasury indicated with the approval of the President, that the authority granted him by the President would be exercised as follows: The Federal Reserve Board is to be the agency of the Treasury in transactions relating to exchange, coins, bullion, and credit. The War Trade Board is to act for the Treasurer in all communications between the United States and the enemy or ally of the enemy which go through the mail and the Customs Division of the Treas