Word: alien
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Dates: during 1940-1949
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...custody of alien property was a $500,000,000 responsibility in World War I. This time it is a $7,000,000,000 responsibility. Nobody has yet been ap pointed to handle it. But last week Henry Morgenthau made a long reach...
...remaining officers professed to be de lighted. "It's a pleasure to be working for Uncle Sam," cried Vice President Hugh S. Williamson. Three days later, Uncle Sam Morgenthau told his press conference that, as he interpreted the executive order, there would be no single Alien Property Custodian in this war. But the Treasury would act as custodian, via the interdepartmental (Treasury, Justice, State) committee that has been handling frozen funds. His alien property powers, insisted Henry the Morgue, were "not given to me as temporary...
This interpretation was received with cool silence in the Justice Department, which has been feuding quietly with Treasury over alien property. Justice's representative on the frozen funds committee is Leo Crowley; and the President has begged Crowley to take over the whole job (though he never got around to giving him an executive order). White-haired Bache lor Crowley is a busy man: he is not only Chairman of FDIC, but of huge Standard Gas & Electric, and a director or officer of eight or ten other firms. Nonetheless, he told the President he would be Alien Property Custodian...
From the sorry history of World War I's Alien Property Custodians, he is a brave man who would touch the job in this war with a ten-foot pole. Between 1917 and 1934 (when the office was incorporated into the Justice Department) there were six custodians. Three were accused in the courts and in Congress of shocking dishonesties; one (Thomas Woodnutt Miller, President Harding's friend) went to jail...
...Custodian an enormous dispenser of patronage, with real-money corporate jobs in his control, but he can sell the corporations, some of them very juicy. Plenty of businessmen have already besieged the Treasury with bids for seized or suspect stock. But last week Henry Morgenthau enunciated a new policy: alien properties are not for sale, will be retained and controlled by the Government. "If there's no honey, there will be no flies," said he sagely-adding that, after this war, the President could count these properties among his blue chips at the peace table...