Pierce Butler

“ The Trading with the Enemy Act was passed by Congress in the exertion of the war power; its purpose was to weaken enemies by diminishing the sources from which they could obtain aid, and to strengthen this country by adding to resources for the successful prosecution of the war. Section 12 declares that after the end of the war any claim of any enemy to recover money or property received and held by the Custodian or deposited in the United States Treasury 'shall be settled as Congress shall direct.' 40 Stat. ”

“ Respondent is a corporation organized under the laws of Germany and at the time of the war between the United States and that country was there engaged in the manufacture and sale of chemicals, etc. It owned property in the United States including shares of stock in American corporations doing like business. Another German corporation, Holzverkohlungs-Industrie Aktiengesellschaft, was then similarly engaged and it also owned property in the United States including shares in one of the American corporations. ”

“ Under the Act of March 4, 1923, [2] there was released to each of the German corporations $10,000 of principal and income in the same amount annually thereafter, less 1 per cent. of the amounts paid between March 4, 1923, and November 1, 1927, and 2 per cent. ”