The resolution of the General Assembly of December 14, 1955, to admit 16 countries to membership in the United Nations, marked “an event second only to the foundation of the United Nations itself,” and a decisive step towards achieving universality of membership. As the President of the Tenth Session of the Assembly, Mr. Jose Maza (Chile) put it:

The so-called “doctrine and practice of the Continental Shelf,” hardly more than ten years old, has, through many unilateral proclamations highly different in character and contents, led at this time to a situation which only can be characterized as one of confusion and abuse. The whole development, especially in its exaggerated claims, gives the impression of a triumphant upsurge of national sovereignty, and threatens to endanger the long-established principle of the freedom of the high seas—a norm juris cogentis of general customary international law.

An event which awakened a lively interest on the part of the American business community in the economic activities of the United Nations occurred in December, 1952. A United Nations General Assembly resolution contained the proposition that “the right of peoples freely to use and exploit their natural wealth and resources is inherent in their sovereignty.…”

After World War II many Eastern European governments began programs of nationalization in which they took virtually all the private property of foreigners. Under the conditions prevailing it was quite obvious that American nationals would not be able to obtain compensation for the properties taken through local remedies. It thus became necessary for the Department of State to commence negotiations with these various governments with the object of obtaining some compensation for the properties so taken. Very little headway was made in such negotiations and the only practical device available was the economic counter-measure of blocking the assets of those foreign governments which were located in the United States. Such blocked assets could be appropriated (“vested”) where the property involved could be classified as “enemy” property. However, the blocking was purely a delaying tactic where the foreign government was not an “enemy” during World War II.

For many centuries the armistice agreement has been the method most frequently employed to bring about a cessation of hostilities in international conflict, particularly where the opposing belligerents have reached what might be termed a stalemate. This practice has not only continued but has probably increased, during the present century.