The German Government announced on March 18 that American property in
Germany would be seized in reprisal for the seizure of German property
in the United States.
Drastic restrictions were placed by the War Trade Board upon the
importation of many nonessential commodities, the regulations to become
effective April 15.
The terms of the Third Liberty Loan were announced by Secretary McAdoo
on March 25. The bill authorizing it was completed by Congress and
signed by President Wilson on April 4, and on April 6 the drive began.
Secretary Daniels, in a speech in Cleveland on April 6, disclosed the
fact that a great fleet of American vessels, including battleships, was
operating in the war zone.
Announcement was made in Tokio on March 28 that an agreement had been
concluded under which Japan promised to turn over to the United States
450,000 tons of shipping.
President Wilson issued a proclamation on April 11, giving Secretary
McAdoo control of the principal coastwise steamship lines.
Charles M. Schwab was appointed Director General of the Emergency Fleet
Corporation April 16.