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Nationalization of Foreign-Owned Property in its Impact on International Law

Published online by Cambridge University Press:  20 April 2017

Arthur K. Kuhn
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Abstract

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The nationalization of foreign-owned property presents problems which put a severe strain upon some of the accepted principles of international law. Chandler Anderson, one of the founding members of the American Society of International Law, pointed out nearly a quarter of a century ago that the principle which safeguards foreign-owned property from confiscation in time of peace “has become a part of the law of nations not merely because it represents a universally recognized standard ofjustice, but also because it is absolutely essential for the welfare of every nation, for without its protection no commercial, or financial international intercourse could safely be carried on.” Since that time, the practice of expropriating foreign property by "nationalization" has spread from Soviet Kussia to other countries constituting important parts of the free world strongly opposed to Communism.

Type
Editorial Comment
Information
American Journal of International Law , Volume 45 , Issue 4 , October 1951 , pp. 709 - 712
Copyright
Copyright © American Society of International Law 1951

References

1 C. P. Anderson, “Bases of the Law against Confiscating Foreign-owned Property,”this JOURNAL, Vol. 21 (1927) p. 526.

2 For I.C.J, proceedings in this case, see below, p. 789.

3 Laws of 81st Cong., 2nd Sess., Ch. 54, Public Law 455, Sec. 4 (a) ; this JOURNAL,Supp., Vol. 45 (1951), p. 58.

4 R. L. Bindsehedler, Verstaatlichungs Massnahmen und Entschädigungspflicht naeh Völkerrecht (ZÜrich, 1950),p. 89.

5 Printed proceedings of the Annual Meeting, Standard Oil Co. (N. J.) (published by the company July 9, 1951), p. 4.

6 See N. E. Doman, “Postwar Nationalization of Foreign Property in Europe,” Columbia Law Eeview, December, 1948, pp. 1123, 1161.