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PERSONAL and CONFIDENTIAL

September 13th, 1940

Dear Alfred:

The Herald-Tribune published on the 8th, an article dated Vichy, September 7th, that the Petain Government expected to obtain a Hundred Million Francs from the sale of the confiscated property of the Rothschilds.

Now it seems to me that the United States Government, following the principles it has adhered to so far, should state that for the time being works of art which have been confiscated or looted, will not be allowed to enter this country. In fact, this should not only apply to property confiscated by politically revengeful and narrow-minded governments, but to all works of art which the Nazis in their organized looting, got hold of in Poland, Denmark, Norway, Holland, Belgium and France where renowned collections existed.

Through the different Presidential Proclamations, the assets of Nationals of invaded countries have been frozen, so that these very funds would not be available to the Nazis.

England served a three or four days notice to American banks to exchange all Pounds Sterling into Dollars. This was to frustrate Nazidom as regards Pounds Sterling they might have gotten hold of in a conquered country, and which they intended converting into dollars: on the continent, I think twelve hours was allowed, and if I understand the situation today, Pounds Sterling cannot be exchanged anywhere outside of England and the Dominions. I believe also that steps have been taken in this country to atop the sale of stocks, bonds, etc. which come from abroad and of which the ownership cannot be fully established. A corresponding attitude should definitely be taken for the tremendously important wealth invested in those countries in works of art of all types.

The funds of all French Nationals, except those who, of course, were regularly residents of the United States, are blocked and no transfer of money can be made by French Nationals, even to unoccupied regions of France, and to my knowledge the assets of France in this country are not made available to the Petain Government (I know that the new French Ambassador is suspected of having as particular mission, to obtain the release of these funds). In other words, this country has tried to avoid any and every transfer of funds which would benefit the Germans directly or indirectly.

t.s.v.p.

Transcription Notes:
---------- Reopened for Editing 2024-02-10 09:53:51 pls read instructions, ignore indents, words that have '-' because partially carried over to another line should be transcribed whole and not with '-' ---------- Reopened for Editing 2024-02-10 11:00:57