SCAPIN-74: CLOSING OF COLONIAL AND FOREIGN BANKS AND WARTIME INSTITUTIONS

OFFICE OF THE SUPREME COMMANDER
FOR THE ALLIED POWERS


30 September 1945

AG 091.3 (30 Sep 45) ESS
(SCAPIN-74)

MEMORANDUM FOR

IMPERIAL JAPANESE GOVERNMENT.

THROUGH

Central Liaison Office, Tokyo.

SUBJECT

Closing of Colonial and Foreign Banks and Special Wartime Institutions.

1. You will immediately close and not allow to reopen, except at the direction of this headquarters, the head offices, branches and agencies in Japan of the banks and other financial institutions enumerated in Inclosure 1, attached hereto.
2. You will immediately post signs on the premises declaring that the institutions are closed.
3. Guards will be posted at all the premises occupied by such institutions, and access to the premises will not be permitted except as directed by this headquarters.
4. Any books, records and papers of the institution which are not on the premises occupied by them will be taken into custody and delivered into the special custody of this headquarters.
5. You will impound all gold, silver, currency, securities, notes, mortgages, pledges and other assets of the institutions which are not located on the premises occupied by them.
6. You will take such action as is required to prevent and prohibit without the prior permission of the Ministry of Finance, any purchase, sale, transfer, withdrawal, or disposition of, or other transaction involving any assets of such institutions. No such transaction will be permitted by the Ministry of Finance without authorization of this headquarters.
7. You will discharge and summarily remove from office the chairman of the board of directors, the president, the managing directors and the abvisors of all institutions listed in Inclosure 1, and all other persons holding comparable posts in such institutions; and you will forbid them to enter into or to act for institutions with which they were associated. You will cancel the authority of all persons holding powers of attorney or signing authority and will not permit any authority or power to act on behalf of such institutions to be given to any other persons without the authorization of this headquarters. All the officers, directors and other officials of such institutions will remain available and will not change their address without the authorization of this headquarters.
8. a. You will safeguard and preserve, not remove or permit to be moved from their present location, any of the following:
(1) Any plates used for printing currency and stamps other than notes of the Bank of Japan, Japanese State notes, and stamps used solely within Japan.
(2) All stocks of manufactured currency and stamps other than notes of the Bank of Japan, Japanese State notes, and stamps used solely within Japan.
(3) All watermarked paper intended for the manufacture of currency and stamps, other than notes of the Bank of Japan, Japanese State notes, and stamps solely for use within Japan.
b. You will report to this headquarters by 0900 hours, 2 October 1945, the location of all of the items listed in “a” above.
9. You will report immediately to this headquarters the action taken to comply with these requirements.
10. An acknowledgment of the receipt of this memorandum is desired.

FOR THE SUPREME COMMANDER:

/s/ Harold Fair,
/t/ HAROLD FAIR,
Lt. Colonel,A.G.D.,
Asst. Adjutant General

1 Incl: As indicated in Paragrah 1.

INCLOSURE 1
List of Financial Instiutions to Be Closed by Japanese Government
1. Wartime Finance Bank.
2. United Funds Bank.
3. All branches and agencies in Japan of Bank of Chosen.
4. All branches and agencies in Japan of Bank of Taiwan.
5. Southern Development Bank.
6. Overseas Development Bank.
7. Deutsche Bank fuer Ostasien.
8. Offices in Japan of Central Bank of Manchu.
9. Offices in Japan of Bank of China.
10. Banque Franco-Japonaise.
11. Oriental Development Company.
12. Nanyo Development Company.
13. North China Development Company.
14. Central China Development Company.
15. South Manchuria Railway Company.
16. Southern Devolopment Company.
17. Taiwan Development Company
18. Manchuria Development Co., Ltd.
19. Manchuria Heavy Industry Development Co., Ltd.
20. Chosen Colonization Bank.
21. National Finacial Control Association.
22. All other banks, development companies, and institutions whose foremost purpose has been the financing of colonization and development activities in areas outside Japan or the financing of war production by the mobilization or control of financial resources in colonial or Japanese occupied territory.