358. National Security Decision Memorandum 1881
- The Secretary of State
- The Secretary of the Treasury
- The Chairman, NSC Under Secretaries Committee
- PRC Blocked Assets and Private Claims
The President has approved the Under Secretaries Committee recommendation contained in its memorandum of January 13, 1972 concerning the settlement of PRC blocked assets and private claims.2 Specifically, the President directs:
- —That the United States should explore first, with the People’s Republic of China, a lump sum settlement of the claims of American citizens for property nationalized by the PRC, to be paid either as a single payment in full or in annual installments over a period of years, in return for which the U.S. would unblock all PRC assets.
- —That if the foregoing course proves non-negotiable, the U.S. should propose a settlement under which it would retain the blocked assets now under its control using them to compensate U.S. citizens for properties nationalized by the PRC.
The President has directed that the Secretary of State, in cooperation with the Secretary of the Treasury, should prepare a negotiating scenario based upon the foregoing decision which should be submitted for his approval by September 15, 1972.