Trading With the Enemy
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| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Trading With the Enemy: Legislative and Executive Documents Concerning Regulation of International Transactions in Time of Declared National Emergency The Trading With the Enemy Act of 1917 has been on the books for nearly 60 years. As amended during that period, section 5(b) has provided the President with progressively broader authority to regulate the nations international (and domestic) finance during periods of declared national emergency. This section has been construed over the years as providing statutory authority for "emergency" actions as diverse as the "bank holiday" of 1933, an alien property freeze and consumer credit controls imposed during World War II, foreign direct investment controls imposed in 1968, and routine export controls in 1972, 1974, and 1976.It provides a major statutory basis for the trade embargoes currently in effect against North Korea, Vietnam, Cambodia, and Cuba. But despite the obvious importance of section 5(b), its legislative history has never before been assembled and fully reviewed. The purpose of this committee print is to provide such a legislative history. It is designed to serve as a set of working documents for the use of the Subcommittee on International Trade and Commerce and of the full International Relations Committee. These documents should also be of interest and use to other Members of Congress working on related matters, and to the interested public. In January 1973, Senate Resolution 9 established a bipartisan Senate Special Committee on the Termination of the National Emergency "to conduct a study and investigation with respect to the matter of terminating the national emergency proclaimed by the President of the United States on December 16, 1950." This national emergency, proclaimed to aid in prosecuting the Korean war, had never been terminated. The Special Committee soon discovered that not one but four "national emergencies" continued in effect, including the national emergency declared by President Roosevelt on March 6, 1933, to meet the problems of the depression, and the national emergencies declared by President Nixon on March 23, 1970, because of a Post Office strike, and on August 15, 1971, to deal with balance of payments and other international problems. The Special Committee also discovered that no inventory existed of the hundreds of statutes delegating powers to the President which were activated by these Presidential declarations. In the words of Senator Mathias, Special Committee cochairman, "a majority of the people of the United States have lived all of their lives under emergency government." The other cochairman, Senator Church, pointed out that the basic question before the Special Committee was "whether it is possible for a democratic government such as ours to exist under its present Constitution and system of three separate branches equal in power under a continued state of emergency." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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