By: History.com Editors

1941

United States freezes Japanese assets

History.com Editors

Published: November 16, 2009

Last Updated: January 30, 2025

On July 26, 1941, President Franklin Roosevelt seizes all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China.

On July 24, Tokyo decided to strengthen its position in terms of its invasion of China by moving through Southeast Asia. Given that France had long occupied parts of the region, and Germany, a Japanese ally, now controlled most of France through Petain’s puppet government, France “agreed” to the occupation of its Indo-China colonies. Japan followed up by occupying Cam Ranh naval base, 800 miles from the Philippines, where Americans had troops, and the British base at Singapore.

Flashback: How Japanese Americans Were Forced Into Concentration Camps During WWII

The internment of Japanese Americans began after President Roosevelt signed Executive Order 9066 in February 1942. For the following three years, American men, women, and children were forced to live under prison-like conditions in remote concentration camps. This 1943 film explains the internment from the U.S. government's perspective.

President Roosevelt swung into action by freezing all Japanese assets in America. Britain and the Dutch East Indies followed suit. The result: Japan lost access to three-fourths of its overseas trade and 88 percent of its imported oil. Japan’s oil reserves were only sufficient to last three years, and only half that time if it went to war and consumed fuel at a more frenzied pace. Japan’s immediate response was to occupy Saigon, again with Vichy France’s acquiescence. If Japan could gain control of Southeast Asia, including Malaya, it could also control the region’s rubber and tin production—a serious blow to the West, which imported such materials from the East. Japan was now faced with a dilemma: back off of its occupation of Southeast Asia and hope the oil embargo would be eased—or seize the oil and further antagonize the West, even into war.

How the US and Japan Went From Enemies to Allies After WWII

General Douglas MacArthur led a seven-year occupation that demilitarized, democratized and helped rebuild the Pacific nation.

General Douglas MacArthur and Emperor Hirohito of Japan, dated 1945.

By: L. Stuart Hirai

Timeline

Also on This Day in History

Discover more of the major events, famous births, notable deaths and everything else history-making that happened on July 26th

1533

Pizarro executes last Inca emperor

Atahuallpa, the 13th and last emperor of the Incas, dies by strangulation at the hands of Francisco Pizarro’s Spanish conquistadors. The execution of Atahuallpa, the last free reigning emperor, marked the end of 300 years of Inca civilization.

1775

U.S. postal system established

On July 26, 1775, the U.S. postal system is established by the Second Continental Congress, with Benjamin Franklin as its first postmaster general. Franklin (1706-1790) put in place the foundation for many aspects of today’s mail system.

Historical United States Postal Service: Mailman on a motorcycle picking up mail from a box circa 1912

1847

Liberian independence proclaimed

The Republic of Liberia, formerly a colony of the American Colonization Society, declares its independence. Under pressure from Britain, the United States hesitantly accepted Liberian sovereignty, making the West African nation the first democratic republic in African history. A constitution modeled after the U.S. Constitution was approved, and in 1848 Joseph Jenkins Roberts was elected Liberia’s first president.

1863

Confederate leader John Hunt Morgan is captured

On July 26, 1863, Confederate cavalry leader John Hunt Morgan and 360 of his men are captured at Salineville, Ohio, during a spectacular raid on the North. Starting in July 1862, Morgan made four major raids on Northern or Northern-held territory over the course of a year. Although they were of limited strategic significance, the raids served as a boost to Southern morale and captured much-needed supplies.

1908

FBI founded

On July 26, 1908, the Federal Bureau of Investigation (FBI) is born when U.S. Attorney General Charles Bonaparte orders a group of newly hired federal investigators to report to Chief Examiner Stanley W. Finch of the Department of Justice. One year later, the Office of the Chief Examiner was renamed the Bureau of Investigation, and in 1935 it became the Federal Bureau of Investigation.

1943

Hitler discusses plans to prevent Italy’s imminent defection

On July 26, 1943, the day after Nazi ally Benito Mussolini is deposed by Italy's Grand Council—who nominally claim they will keep fighting with the Germans—Adolf Hitler calls the act "naked treachery." In a military briefing at his headquarters, the Führer declares the Italians are buying time before negotiating surrender terms with the WWII Allies and calls for immediate action, including the German occupation of Rome.

1943

Rolling Stones front man Mick Jagger is born

The musician, actor, film producer and Rolling Stones front man Mick Jagger is born in Dartford, Kent, England on July 26, 1943.

1945

Winston Churchill resigns

In the 11th hour of World War II, Winston Churchill is forced to resign as British prime minister following his party’s electoral defeat by the Labour Party. It was the first general election held in Britain in more than a decade. The same day, Clement Attlee, the Labour leader, was sworn in as the new British leader.

1947

President Truman signs the National Security Act

President Harry S. Truman signs the National Security Act, which becomes one of the most important pieces of Cold War legislation. The act established much of the bureaucratic framework for foreign policymaking for the next 40-plus years of the Cold War.

1948

President Truman ends segregation in the military

On July 26, 1948, President Harry S. Truman signs Executive Order 9981, banning racial discrimination in the military. Truman’s order ended a long-standing practice of segregating Black soldiers and relegating them to more menial jobs.

United States Air Force Staff Sergeant Edward Williams (right) of St. Louis, Missouri, exchanges a handshake with his Commander-in-Chief, President Harry S. Truman

1956

Egypt nationalizes the Suez Canal

The Suez Crisis begins when Egyptian President Gamal Abdel Nasser nationalizes the British and French-owned Suez Canal.

1975

Van McCoy’s “The Hustle” is the #1 song in America

On July 26, 1975, Van McCoy’s “The Hustle” topped the Billboard Hot 100 and Hot Soul Singles charts simultaneously, signaling the beginning of the disco era.

1984

Infamous serial killer Ed Gein dies

On July 26, 1984, Ed Gein, a serial killer infamous for skinning human corpses, dies of complications from cancer at the Mendota Mental Health Institute at age 77. Gein served as the inspiration for writer Robert Bloch’s character Norman Bates in the 1959 novel “Psycho,” which in 1960 was turned into a film starring Anthony Perkins and directed by Alfred Hitchcock.

1990

Americans with Disabilities Act (ADA) signed into law

On July 26, 1990, President George H.W. Bush signs the Americans with Disabilities Act (ADA), the most sweeping affirmation of rights for the disabled in American history at the time, into law.

1998

Three race fans killed at Michigan Speedway

The U.S. 500, the most prestigious race in the Championship Auto Racing Teams (CART) series, dissolves into tragedy on July 26, 1998, when three fans are killed and six others wounded by flying debris from a car at Michigan Speedway in Brooklyn, Michigan.

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Citation Information

Article title
United States freezes Japanese assets
Website Name
History
Date Accessed
March 22, 2025
Publisher
A&E Television Networks
Last Updated
January 30, 2025
Original Published Date
November 16, 2009

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