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
