SCAPIN-2148: PURCHASE OF FOREIGN EXCHANGE CREDITS FOR THE PURPOSE OF STIMULATING EXPORTS
GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
APO 500
4 April 1951
AG 091.31
(4 Apr 51)
ESS/FTC
(SCAPIN-2148)
| MEMORANDUM FOR | JAPANESE GOVERNMENT. |
|---|---|
| SUBJECT | Purchase of Foreign Exchange Credits for the Purpose of Stimulating Exports. |
1. Reference is memorandum for the Japanese Government from General Headquarters, Supreme Commander for the Allied Powers, AG 091.31(17 Jul 48)ESS/FTC, SCAPIN 2020, 24 June 1949, subject as above.
2. Memorandum referred to in paragraph 1, above, is rescinded effective 1 July 1951.
3. All foreign exchange credits which accrue under the authority of paragraph 3 of memorandum referenced in paragraph 1, above, on or before 30 June 1951 may be utilized by exporters in accordance with the terms of said memorandum any time up to date of expiration as outlined in subparagraph 6a of said memorandum.
4. It is suggested that the Japanese Government make budgetary provisions to provide foreign exchange after 30 June 1951 for the type of expenditures presently provided by the foreign exchange retention system.
FOR THE SUPREME COMMANDER:
K.B. BUSH
Brigadier General, USA
Adjutant General
MEMO FOR RECORD: (SCAPIN - 2148)
RWH/LCB/BFK/tt
12 January 1951
1. In accordance with agreement reached by:
Messrs: McDermott ESS/DTS
Allison ESS/DF
Marlow ESS/CON
Blanton ESS/PS
Hitchcock ESS/BFE
Waller ESS/BFE
Reeves ESS/CON
Compbell ESS/FTC
at conference on 6 Jan 51, slash to SCAPIN 2020 provides for:
a. Recission of SCAPIN 2020 as of 31 March 1951 which will result in the discontinuance of accrual of foreign exchange retention credits by Japanese exporters after that date.
b. The utilization by exporters of any retention credits accruing on or before 21 March 1951 until their term of validity (6 months from the date of accrual) has expired.
2. Slash to SCAPIN 2020 also suggests that the Japanese Government make budgetary provisions for the items which are now paid for with foreign exchange retention credits.
3. The effect of the slash to SCAPIN 2020 is to provide a cut-off date after which retention credits will no longer be permitted while permitting the use of any credits accrued before the cut-off date within the term of their validity, and also affording opportunity for other than exporters to obtain foreign exchange for items that are now available only under the retention credit system.
4. Concurrences:
ESS/DTS - Mr. McDermott
ESS/DF - Mr. Allison
ESS/CON - Mr. Marlow
ESS/PS - Mr. Blanton
ESS/BIE - Mr. Hitchcock
Boyd F. Kyner: 26-6476
R. W. H.
