Worsening relations with the Axis powers during World War II provoked President Roosevelt to rethink his stance on neutrality. One of the biggest concerns the U.S. government had in the early years of World War II was how to prevent the Nazis from using the financial resources of the United States to finance their military campaigns. On June 14th 1941, President Roosevelt passed an Executive Order that froze both German and Italian assets, preventing those nations citizens from withdrawing funds held in U.S. banks. President Roosevelt would also order the withdrawal of German and Italian consular staffs by July 10th, stating that their presence in the United States were unwelcoming to the welfare of this country. On July 26, another Executive Order was issued freezing Japanese assets in the United States and with that being done, all the Axis powers were finally cut off from the U.S. government.
Post by Arvin Ramdas