Memorandum from President of the Philippines Sergio Osmena to President Harry S. Truman

November 9, 1945 MEMORANDUM FOR THE PRESIDENT Re - Compensation for War Damage Following the Japanese attack on Pearl Harbor on December 7, 1941, the War Insurance Corporation was created with a capital of $100,000,000 to provide "pro- tection against losses resulting from enemy attacks which may be sustained by owners of property in contin- ental United States through damage to, or destruction of buildings, structures, and personal property, including goods, growing crops and orchards. " The creation of the Corporation was announced in a press release issued by the Secretary of Commerce on December 13, 1941. In a press release issued by the Secretary of Commerce on Dec- ember 22, 1941, it was announced that the protection pro- vided by the War Insurance Corporation was extended to the Philippines and other territories and possessions of the United States. Subsequently, Congress passed a bill which was ap- proved on March 27, 1942 (Public Law 506, 77th Congress, Second Session), creating the War Damage Corporation, with funds available for its disposal to the extent of $1,000,000,000. The Act provides that the War Damage Corporation, with the approval of the Secretary of Commerce, may suspend application of such protection in any area be- cause of loss of control of such area by the United States. Accordingly, the Secretary of Commerce did not extend the insurance protection of the Act to property in the Philip- pines. It will thus be seen that automatic free insurance protection was provided prior to July 1, 1942, but there- after the insurance protection provided by the Act of March 27, 1942, although applicable to properties in the Philippines, could not be practically extended to such properties because the Philippines was occupied and under