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ORDER OF THE SECRETARY OF THE TREASURY

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Requiring the Delivery of Gold Coin, Gold Bullion, and Gold Certificates to the Treasurer of

the United States

WHEREAS Section 11 of the Federal Reser've Act of January 22, 1932, as amended by Section % of the Act of March 9, 1983, entitled "An Act to Provide Relief in the Existing National Emergency in Bank-— ing, and for Other Purposes", provides in Subsection (n) as follows:

"Whenever in the judgment of the Secretary of the Treasury such action is necessary to protect the currency system of the United States, the Secre- tary of the Treasury, in. his discretion, may require any or all individuals, partnerships, associations and corporations to pay and deliver to the Treasurer of the United States any or all gold coin, gold bullion, and gold certificates owned by such indi- viduels, partnerships, associations and corporations. Upon receipt: of such gold coin, gold bullion or gold certificates, the Secrctary of the Treasury shall pay therefor an equivalent amount of any other form of coin or currency coined or issucd under the laws of the United States. The Secretary of the Treasury shall pay all costs of the transportation of such gold bullion, gold certificates, coin, or currency, including the cost of insurance, protection, and such other incidental costs as may be reasonably necessary. Any individual, partnership, association, or corporation failing to comply with any require- ment of the Sceretary of the Treasury meade under this subsection shall be subject to a penalty equal to twice the value of the gold or gold certificates in respect, of which such feilure occurred, and such penalty may be collected by the Secretary of the Treasury by suit or otherwisc." and

WHEREAS in my judgment such action is necessary to protect

the currency system of the United States;

NOW, THEREFORE, I, HENRY MORGENTHAU, JR., ACTING SECRETARY of

the TREASURY, do hereby require every person subject to the jurisdiction

of the United States forthwith to pay and deliver to the Treasurer of

the United States all gold coin, gold bullion, and gold certificates

situated in the United States, owned by such person, except as follows:

A. Gold bullion owmed by a person now holding such gold under a license heretofore granted by or under authority of the Secretary of the Treasury, pursuant to the Fxecutive Order of August 28, 1933, Relating to the Hoarding, Export, and Earmarking of Gold Coin, Bullion, or Currency end to Trans~

actions in Foreign Exchange;

of rere ond unusual coin (but not including quarter cagles, otherwise known as $2.50 pieces);

B. Gold coin having a recognized special valuc to collectors |

Unmelted scrap gold and gold swecpings in an amount not

exeveding in the aggregate $100 belonging to any one person;

and gold which has been put through a process of fabrication ( i

for a specific end customary industrial, professional, or ornamental usc;

Gold coin, gold bullion, and gold certificates owned by a Federal reserve bank or the Reconstruction Finance Corpora~

tion; and

Gold bullion and foreign gold coin now situated in the Philippine Islands , American Samoa, Guam, Hawaii, Panama

Canal Zone, Puerto Rico, or the Virgin Islands of the United States, owned by a person not domiciled or doing business in the continental United States.

Section 2. Delivery. The gold coin, gold bullion, and gold : certificates herein required to be paid and delivered to the Treasurer of the United States shall be delivered by placing the same forthwith

in the custody of 2 Federal reserve bank or branch or a bank member of

the Federal Reserve System for the account of the United States and by

forwarding confirmation that the gold coin, gold bullion, and gold

Cort Sanehes have been so placed in custody for the account of the United States and arc held subject to the order of the Treasuror of the United States, signed by such bank und the person making the delivery (or the authorized agent of such person) to the Treasurer of the United States,

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Washington, D. ©., in a postage prepaid envelope bearing a postmark dated

prior to midnight of the day the gold coin, gold bullion, and gold cer-

bificates are so placed in custody.

Upon receipt

Section 3. Payment and Reimbursement of C

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of the confirmation signed snd delivered as required under Section 2, the Secretary of the Treasury will pay for the gold coin, gold bullion, and gold certificates placed in custody for the account of the United States in accordance with Section 2, an equivalent amount of sny form of coin or currency coined or issued under the laws of the United States designated by the Secretary of. the’ Treasury. The Secretary of the Treasury will pay all costs of the transportation of such gold coin, gold bullion, and gold certificates to the Federal reserve bank or branch or bank member of the Federal Reserve System in the city or town nearest to the place where such gold coin, gold bullion, and gold certificates are now situated, including the cost of insurance, protection, and such other incidental costs as may be reasonably necessary. Persons desiring reimbursemont for such costs actually incurred shell submit their accounts on voucher forms which may

be obtained by writing to the Treasurer of the United States, Washington,

Dien hs

A Le Section 4. Definitions. As used in this Order, the tern "person" means any individual, partnership, association, or corporation; the tern "United States" means the United States and any place subject to the jurisdiction thereof; the term "continental United States" means

the States of the United States, the District of Columbia, and the

Territory of Alaska; the term "gold coin" means any coin containing

gold, including foreign gold coin; and the term "gold bullion" means any gold which has been put through a process of smelting or refining that is in such form that its value depends upon the gold content and not upon the form, but does not include gold coin or metals containing less than five troy ounces of fine gold per short ton.

Section 5. Any individual, partnership, association, or cor- poration failing to comply with any requirement hereof or of any rules or regulations issued by the Secretary of the Treasury hereunder shall be subject to the penalty provided in Section 1l(n) of the Federal Reserve Act, as amended.

This order may be modified or revoked at any time.

H. Morgenthau, Jr., Acting Secretary of the Treasury.

APPROVED: Franklin D. Roosevelt THE WHITE HOUSE

December 28, 1933.