From: President of the United States Franklin
Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102
Forbidding the Hoarding of Gold Coin, Gold
Bullion and Gold Certificates By virtue of the authority vested
in me by Section 5(b) of the Act of October 6, 1917, as amended
by Section 2 of the Act of March 9, 1933, entitled
An Act to provide relief in the existing national
emergency in banking, and for other purposes~',
in which amendatory Act Congress declared
that a serious emergency exists,
I, Franklin D. Roosevelt, President of the
United States of America, do declare that said national emergency
still continues to exist and pursuant to said section to do
hereby prohibit the hoarding gold coin, gold bullion, and
gold certificates within the continental United States by
individuals, partnerships, associations and corporations and
hereby prescribe the following regulations for carrying out
the purposes of the order:
Section 1. For the purpose of this
regulation, the term 'hoarding" means the withdrawal
and withholding of gold coin, gold bullion, and gold certificates
from the recognized and customary channels of trade. The term
"person" means any individual, partnership, association
or corporation.
Section 2. All persons are hereby required
to deliver on or before May 1, 1933, to a Federal Reserve
bank or a branch or agency thereof or to any member bank of
the Federal Reserve System all gold coin, gold bullion, and
gold certificates now owned by them or coming into their ownership
on or before April 28, 1933, except the following:
(a) Such amount of gold as may be required
for legitimate and customary use in industry, profession or
art within a reasonable time, including gold prior to refining
and stocks of gold in reasonable amounts for the usual trade
requirements of owners mining and refining such gold.
(b) Gold coin and gold certificates in an
amount not exceeding in the aggregate $100.00 belonging to
any one person; and gold coins having recognized special value
to collectors of rare and unusual coins.
(c) Gold coin and bullion earmarked or held
in trust for a recognized foreign government or foreign central
bank or the Bank for International Settlements.
(d) Gold coin and bullion licensed for the
other proper transactions (not involving hoarding) including
gold coin and gold bullion imported for the re-export or held
pending action on applications for export license.
Section 3. Until otherwise ordered
any person becoming the owner of any gold coin, gold bullion,
and gold certificates after April 28, 1933, shall within three
days after receipt thereof, deliver the same in the manner
prescribed in Section 2; unless such gold coin, gold bullion,
and gold certificates are held for any of the purposes specified
in paragraphs (a),(b) or (c) of Section 2; or unless such
gold coin, gold bullion is held for purposes specified in
paragraph (d) of Section 2 and the person holding it is, with
respect to such gold coin or bullion, a licensee or applicant
for license pending action thereon.
Section 4. Upon receipt of gold coin,
gold bullion, or gold certificates delivered to it in accordance
with Section 2 or 3, the Federal reserve bank or member bank
will pay thereof an equivalent amount of any other form of
coin or currency coined or issued under the laws of the Unites
States.
Section 5. Member banks shall deliver
alt gold coin, gold bullion, and gold certificates owned or
received by them (other than as exempted under the provisions
of Section 2) to the Federal reserve banks of there respective
districts and receive credit or payment thereof.
Section 6. The Secretary of the Treasury,
out of the sum made available to the President by Section
501 of the Act of March 9, 1933, will in all proper cases
pay the reasonable costs of transportation of gold coin, gold
bullion, and gold certificates delivered to a member bank
or Federal reserve bank in accordance with Sections 2, 3,
or 5 hereof, including the cost of insurance, protection,
and such other incidental costs as may be necessary, upon
production of satisfactory evidence of such costs. Voucher
forms for this purpose may be procured from Federal reserve
banks.
Section 7. In cases where the delivery
of gold coin, gold bullion, or gold certificates by the owners
thereof within the time set forth above will involve extraordinary
hardship or difficulty, the Secretary of the Treasury may,
in his discretion, extend the time within which such delivery
must be made. Applications for such extensions must be made
in writing under oath; addressed to the Secretary of the Treasury
and filed with a Federal reserve bank. Each applications must
state the date to which the extension is desired, the amount
and location of the gold coin, gold bullion, and gold certificates
in respect of which such application is made and the facts
showing extension to be necessary to avoid extraordinary hardship
or difficulty.
Section 8. The Secretary of the Treasury
is hereby authorized and empowered to issue such further regulations
as he may deem necessary to carry the purposes of this order
and to issue licenses there under, through such officers or
agencies as he may designate, including licenses permitting
the Federal reserve banks and member banks of the Federal
Reserve System, in return for an equivalent amount of other
coin, currency or credit, to deliver, earmark or hold in trust
gold coin or bullion to or for persons showing the need for
same for any of the purposes specified in paragraphs (a),
(c), and (d) of Section 2 of these regulations.
Section 9. Whoever willfully violates
any provision of this Executive Order or these regulation
or of any rule, regulation or license issued there under may
be fined not more than $10,000, or,if a natural person may
be imprisoned for not more than ten years or both; and any
officer, director, or agent of any corporation who knowingly
participates in any such violation may be punished by a like
fine, imprisonment, or both.
This order and these regulations may be modified
or revoked at any time.
/s/
Franklin D. Roosevelt
President of the United States of America
April 5, 1933
Would you like to buy
a copy of 1933 Gold Confiscation Order? Price: $15.00