Editorial Note
During 1947 the United States continued to be involved in negotiations concerned with the restoration of monetary gold looted by Germany during World War II and with the liquidation of German assets held abroad. On October 17, 1947, the Tripartite [United States-United Kingdom-France] Commission for the Restitution of Monetary Gold announced at its seat in Brussels the preliminary distribution of gold to certain of the countries which during World War II had been despoiled of monetary gold by Germany; for the text of the announcement, see Germany 1947–1949, pages 428–430. On October 10, 1947, the United States, United Kingdom and Italy concluded an agreement under which approximately $28 million of Italian monetary gold uncovered by Allied forces in northern Italy in May 1945 were to be transferred to the Italian Government; for the text of the agreement and the accompanying statement to the press, see Department of State Bulletin, October 19, 1947, page 770. On November 4, 1947, and December 16, 1947, respectively, the United States, the United Kingdom and France concluded protocols with Austria and Italy for the restitution of gold; for the texts of the protocols, see Department of State Treaties and Other International Acts Series 1683 and 1707, respectively, or Germany 1947–1949, pages 430–431. On August 14, 1947, the United States, the United Kingdom and France entered into an understanding with Italy on a program for the liquidation of German assets in Italy; for the text of the memorandum of understanding and the accompanying statements to the press, see Department of State Bulletin, August 24, 1947, pages 388–389. On December 5, 1947, the United States, Canada and the Netherlands signed at Brussels an agreement relating to the resolution of conflicting claims to German enemy assets. For the statement issued to the press concerning this latter agreement, see Department of State Bulletin, December [Page 1144] 14, 1947, pages 1192–1193; for the text of the agreement and an article by Ely Maurer and James Simsarian summarizing its main provisions, see Department of State Bulletin, January 4, 1948, pages 3–13.