Page:United States Statutes at Large Volume 48 Part 2.djvu/470

 1728 PROCLAMATIONS, 1933. m::~:rs b:t"}ed:r WHEREAS, on March 10, 1933, I issued an Executive order Reserve ~ysteru. authorizing the appropriate authority having immediate supervision 6Oecutl\'e Order No. of banking institutions in each State or any place subject to the juris- diction of the United States to permit any banking institution not a member of the Federal Reserve System to perform any or all of its usual banking functions except as otherwise provided; LIoeD5(J8. WHEREAS, the Secretary of the Treasury, pursuant to authority granted by other provisions of the said Executive order of March 10, 1933, has acted upon all requests for licensing of banks members of the Federal Reserve Svstem; Adm~ttance to mem- WHEREAS the Federal Deposit Insurance C01!0ration has acted bershlp of Fund IIli'- - f bhi.h FdI KJ"anted to State banks. upon a app catIOns to It or mem ers PInt e emporary e era Deposit Insurance Fund as provided for in Section 12B (y) of the Antt, p.179. Federal Reserve Act as amended by Section 8 of the Act of June 16, 1933, Public No. 66, Seventy-third Congress, and has admitted to the said Fund all applicant banks which are duly and properly qualified; and Responsibility of WHEREAS it is now appropriate that the banking authority in State. each State and any place subject to the jurisdiction of the United States should have and exercise the sole responsibility for, and control over, banking institutions not members of the Federal Reserve System; ov!ruTarmstroBot (talk) 20:11, 8 July 2014 (UTC):e:~ NOW, THEREFORE, I, FRAN~LIN D. ROOSEVELT, PRE~I­ banks reestablished. DENT of the UNITED STATES, In order to assure that the banking authority in each State and in any place subject to the jurisdiction of the United States shall have and exercise the sole responsibility for, and control over, banking institutions which are not members of the Designated Procla- Federal Reserve System, do hereby proclaim, order, direct, and declare ~:J~c;:=~:utlve that the Proclamations of March 6, 1933 and March 9, 1933, and the Executive order of March 10, 1933, and all orders and regulations pur- suant thereto, are amended, effective the first day of January, nineteen hundred and thirty-four, to exclude from their scope banking institu- ~'ff'fmpoUnding tions which are not members of the 1fed~ral ~es~rve System. PRO- reaervatioD. VIDED, HOWEVER, That no banking InstItutIOn shall payout any gold coin, gold bullion, or gold certificates, except as authorized by the Secretary of the Treasury, nor allow the withdrawal of any cur- rency for hoarding, nor engage in any transactions in foreign exchange except such as may be undertaken for legitimate and normal business requIrements, for reasonable traveling and other personal r~quire­ ments, and for the fulfillment of contracts entered into prior to March 6, 1933. IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the United States to be affixed. Done in the City of Wasbington this 30th day of December in the year of our Lord one thousand nine hundred and thirty- [SEAL] three, and of the Independence of the United States the one hundred and fifty-eighth. FRANKLIN D ROOSEVELT By the President: WILLIAM PHILLIPS Acting Secretary oj State. [No. 2070]