867N.5151/11: Telegram
The Consul at Jerusalem (Steger) to the Secretary of State
[Received November 16—11:25 a.m.]
16. Referring to the Consulate General’s telegram No. 9 of October 18, noon [11 a.m.], and Department’s telegram dated October 21, 2 p.m., Palestine Treasurer having received supplementary instructions from London now informs me:
- (1)
- American citizens resident in Palestine must declare balances in specified foreign currencies whether held in Palestine or abroad but will in practice not be required to offer for sale balances held prior to September 8, 1939, and will be allowed to dispose freely of such balances. Balances acquired after that date in Palestine or abroad must be offered for sale.
- (2)
- American-owned securities payable in specified foreign currencies acquired before September 7 must be declared and may not be disposed of without permission.
- (3)
- Incomes derived before or after September 8 from exempted securities need not be offered for sale.
Thus while Palestine Government still asserts its jurisdiction over bank balances and securities, whether in Palestine or in the United States, owned by American residents of this country, in practice it will exercise this right only in respect to such balances and securities acquired after September 7, 1939. Does the Department consider the exemptions satisfactory and shall I advise Americans to comply with the requirements of the law?