AXIS ASSETS

Wairarapa Times-Age, 16 June 1941, Page 5

AXIS ASSETS

FROZEN IN UNITED STATES SPEECH BY MR MORGENTHAU. ACTION AGAINST TERROR & TYRANNY. (By Telegraph—Press Association—Copyright) WASHINGTON, June 14. President Roosevelt has issued an executive order freezing all German and Italian assets. The order is coupled with new regulations giving the Government complete authority over European assets in the United States. A statement accompanying the order says the order is designed to prevent the use of financial facilities in the United States in ways harmful to national defence and other American interests and to prevent the liquidation in the United States of assets looted by duress or conquest, and curbs subversive activities, in the United States. The White House said the control would be lifted respecting Finland, Portugal, Spain, Sweden, Switzerland and tb.e Soviet, conditional on adequate assurances being given that funds in the United States would not be employed to evade the purposs of the order. According to a Zurich message Admiral Luetzow, writing in the journal "Das Reich,” says that the United States neutrality patrol means a big hindrance to the German sea war effort. “The situation is unbearable. Germany is determined to cut off Britain. Decisions must be made, even if the consequences are grave,” he says. “The American people cannot preserve freedom without being ready to fight,” said the Secretary of the Treasury, Mr Morgenthau, in a speech at Amherst College, Massachusetts. “If we act now to stamp out this terror and tyranny we run the risk of losing our comfort and safety, perhaps our lives, before the job is done. If we do not act, we run the far greater risk of losing our precious freedoms, of surrendering our intellectual and spiritual heritage. We must choose whether we would rather die on our feet than live on our knees.” The Navy has warned shipping that extensive mine-planting operations will occur in New York harbour in the next fortnight. The mines will be loaded, but will detonate only from an electrically controlled mechanise ashore. The navy said it was merely a practice manoeuvre.