Executive Order 8389 Protecting Funds of Victims of Aggression was issued by

U.S. President The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of t ...

Franklin D. Roosevelt Franklin Delano Roosevelt (January 30, 1882April 12, 1945), also known as FDR, was the 32nd president of the United States, serving from 1933 until his death in 1945. He is the longest-serving U.S. president, and the only one to have served ...

on April 10, 1940, following the invasions of

Denmark Denmark is a Nordic countries, Nordic country in Northern Europe. It is the metropole and most populous constituent of the Kingdom of Denmark,, . also known as the Danish Realm, a constitutionally unitary state that includes the Autonomous a ...

and

Norway Norway, officially the Kingdom of Norway, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. The remote Arctic island of Jan Mayen and the archipelago of Svalbard also form part of the Kingdom of ...

Nazi Germany Nazi Germany, officially known as the German Reich and later the Greater German Reich, was the German Reich, German state between 1933 and 1945, when Adolf Hitler and the Nazi Party controlled the country, transforming it into a Totalit ...

Implementation

One of the primary concerns of the U.S. government in the early years of

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

was to prevent the Nazis from using the financial resources of the United States to finance their military campaigns and occupation costs. The task of enforcing this goal by controlling

financial asset A financial asset is a non-physical asset whose value is derived from a contractual claim, such as deposit (finance), bank deposits, bond (finance), bonds, and participations in companies' share capital. Financial assets are usually more market li ...

s fell to the

US Treasury Department The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The department oversees the Bureau of Engraving and ...

, and President Roosevelt enabled its actions by issuing Executive Order 8389 on April 10, 1940, which froze Norwegian and Danish assets in the United States. As precedent, Roosevelt invoked an act of October 6, 1917, and

Executive Order 6560 Executive ( exe., exec., execu.) may refer to: Role or title * Executive, a senior management role in an organization ** Chief executive officer (CEO), one of the highest-ranking corporate officers (executives) or administrators ** Executive dir ...

of January 15, 1934. In doing so, Roosevelt not only offered symbolic support to the occupied nations of

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

, but also guaranteed future practical assistance by assuring that the assets of such states would be returned once the aggressors were defeated. The Order, initially ruling only on Norwegian and Danish assets, was later amended to include those of most European states, with the notable exemption of

Great Britain Great Britain is an island in the North Atlantic Ocean off the north-west coast of continental Europe, consisting of the countries England, Scotland, and Wales. With an area of , it is the largest of the British Isles, the List of European ...

. The subsequent amendments were filed under separate Order numbers. After the occupation and annexation of the

Baltic States The Baltic states or the Baltic countries is a geopolitical term encompassing Estonia, Latvia, and Lithuania. All three countries are members of NATO, the European Union, the Eurozone, and the OECD. The three sovereign states on the eastern co ...

(

Estonia Estonia, officially the Republic of Estonia, is a country in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the Baltic Sea across from Sweden, to the south by Latvia, and to the east by Ru ...

Latvia Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe. It is one of the three Baltic states, along with Estonia to the north and Lithuania to the south. It borders Russia to the east and Belarus to t ...

and

Lithuania Lithuania, officially the Republic of Lithuania, is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea, bordered by Latvia to the north, Belarus to the east and south, P ...

) by the

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

, Order 8389 was amended via Executive Order 8484 on 15 July 1940 to include those states. The Soviet government condemned the freezing of the Baltic states' assets, asserting that there was no legal basis for suspending the transfer.

Sumner Welles Benjamin Sumner Welles (October 14, 1892September 24, 1961) was an American government official and diplomat. He was a major foreign policy adviser to President Franklin D. Roosevelt and served as Under Secretary of State from 1936 to 1943, dur ...

, acting Secretary of State, addressed the objection in a statement: Prior to the inclusion of Estonia, Latvia, and Lithuania, all the other European states affected by the Order had come under the military occupation of Nazi Germany. In conjunction with the

Welles declaration The Welles Declaration was a diplomatic statement issued on July 23, 1940, by Sumner Welles, the acting US Secretary of State, condemning the June 1940 occupation by the Soviet army of the three Baltic countries – Estonia, Latvia, and Lithuan ...

, Executive Order 8484 and its enforcement by the Treasury Department offered both immediate and long-term benefits to the Baltic states. A postcard was sent in 1940 by a German Company in Germany to a firm in New York. In the postcard there is a mention of Munich Reich Bank, that triggered application of this Roosevelt Executive order. Upon arrival to the US this marking was added: "SUPPOSED TO CONTAIN MATTER SUBJECT TO THE PROVISIONS OF EXECUTIVED ORDER 8389 AS AMENDED." The German firm was Wackerchemic of Munich and the PC was sent to Sager & Malcolm in NYC.

References

{{Franklin D. Roosevelt 1940 in American law 8389 Occupation of the Baltic states