HEARINGS U. S. Congress. Senate. U.S. BEFORE (THE) COMMITTEE ON FINANCE. UNITED STATES SENATE SIXTY-NINTH CONGRESS SECOND SESSION ON H. R. 15009 AN ACT TO PROVIDE FOR THE SETTLEMENT OF CERTAIN AVAILABLE FUNDS CONTENTS Bonynge, Robert W., American agent, Mixed Claims Commission, Escher, Henry, Esq., New York City, representing the International Kiesselbach, Dr. J. W., representing the German claimants_ McMullen, Lieut. Col. Joseph I., Judge Advocate, Chief of the War Department Patent Section, and secretary of the Interdepart- Robert, Capt. W. P., Construction Corps United States Navy, for- merly a member of the board of appraisers of alien ships- Sidley, William P., Chicago, Ill., Chairman of executive committee Sutherland, Hon. Howard, Alien Property Custodian___ 109 212, 267 RETURN OF ALIEN PROPERTY SATURDAY, JANUARY 8, 1927 UNITED STATES SENATE, The committee met, pursuant to call of the chairman, at 10 o'clock a. m., in Room 312, Senate Office Building, Senator Reed Smoot presiding. Present: Senators Smoot (chairman), McLean, Curtis, Watson, Reed of Pennsylvania. Wadsworth, Shortridge, Edge, Jones, Harrison, King, Bayard, and George. Present also: Representatives Mills, of New York, and Garner of Texas; Undersecretary of the Treasury Winston. (The committee had under consideration H. R. 15009, which is here printed in full, as follows:) [H. R. 15009, Sixty-ninth Congress, second session] AN ACT To provide for the settlement of certain claims of American nationals against Germany and of German nationals against the United States, for the ultimate return of all property of German nationals held by the Alien Property Custodian, and for the equitable apportionment among all claimants of certain available funds Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this act may be cited as the 66 Settlement of war claims act of 1927." DECLARATION OF POLICY SEC. 2. In pursuance of established American doctrine, it is hereby declared that the claims of nationals of the United States against Germany, as determined by the Mixed Claims Commission, United States and Germany, shall be settled by the ultimate payment in full by Germany; that all property of German nationals held by the Alien Property Custodian as security for the payment of such claims of nationals of the United States against Germany shall ultimately be returned, together with the accrued interest and other earnings thereon; that the claims of German nationals against the United States for reasonable compensation for certain of their ships, radio stations, and patents taken or used by the United States shall be adjudicated and the amounts determined to be due shall ultimately be paid in full. CLAIMS OF NATIONALS OF THE UNITED STATES AGAINST GERMANY SEC. 3. (a) The Secretary of State shall, from time to time, certify to the Secretary of the Treasury the award of the Mixed Claims Commission, United States and Germany, established in pursuance of the agreement of August 10, 1922, between the United States and Germany (referred to in this act as the Mixed Claims Commission "). 66 (b) The Secretary of the Treasury is authorized and directed to pay an amount equal to the principal of each award so certified, plus the interest thereon, at the rate fixed in the award, accruing before January 1, 1927. (c) The Secretary of the Treasury is authorized and directed to pay annually (as nearly as may be) simple interest, at the rate of 5 per centum per 1 |