Approved Code No. 48-Arnendrnent No.2 Registry No. 263-01 

NATIONAL RECOVERY ADMINISTRATION 

AMENDME~~T TO 

CODE OF FAIR COMPETITION 

• 

FOR THE 

SILK TEXTILE INDUSTRY 

AS APPROVED ON AUGUST 31, 1934 

\tiE DO OUR PART: 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 1934 

For sale by the Superintendent of Documents, WashinKton, D.C. - • • • • • • • Price 5 cents 
This publication is for sale by the Superintendent of Documents, Government 

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.... 
Approved Code No. 48-Amendment No. 2 

AMENDMENT TO CODE OF FAIR COlVIPETITION 

FOR THE 

SILK TEXTILE INDUSTRY 

As Approv-ed on August 31, 1934 

ORDER 

APPROVING AMENDMENT TO CoDE OF FAIR CoMPETITION FOR THE 

SILK TEXTILE INDUSTRY 

An application having been duly made pursuant to and in full 

compliance with the provisions of Title I of the National Industrial 

Recovery Act, approved June 16, 1933, for approval of an amendment to a Code of Fair Competition for the Silk Textile Industry, 

and the annexed report on said amendment, containing findings with 

respect thereto, having been made and directed to the President: 

NOvV, THEREFORE, on behalf of the President of the United 

States, I, Hugh S. Johnson, Administrator for Industrial Recovery, 

pursuant to authority vested in me by Executive Orders of the President, including Executive Order 6543-A, dated December 30, 1933, 

and otherwise, do hereby incorporate by reference, said annexed 

report and do find that said amendment and the Code as constituted 

after being amended comply in all respects with the pertinent provisions and will promote the policy and purposes of said Title of said 

Act, and do hereby order that said amendment be and it is hereby 

approved, and that the previous approval of said Code is hereby 

modified to include an approval of said Code in its entirety as 

amended, such approval and such amendment to take effect fourteen 

(14) days from the date hereof1 unless good cause to the contrary 

is shown to the Administrator before that time and the Administrator issues a subsequent order to that effect. 

Approval recommended: 

RoBERT L. HousTON, 

HUGH S. JOHNSON, 

Adminutrator for Indm_trial Recovery. 

Division Administrator. 

'¥" ASHINGTON, D.C., 

August 31, 1934. 

83657"----1044-146----34 (1) 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White H 011;8e. 

SIR: This is a report on an amendment to the Code of Fair Competition for the Silk Textile Industry. A hearing was not held nor 

was a Notice of an Opportunity to File Objections issued, due to 

the minor changes made. However, the order approving this amendment provides that it shall not be effective for fourteen (14) days 

from the date of approval. 

PROVISIONS OF THE AMENDMENT 

Article VIII, Section 2 (a) is amended by changing the words 

"filed price" in line five of paragraph 1 to "quoted pnce" and the 

words "filing the price" in line eleven of paragraph 1 to "guoting 

the price." The balance of the amendment is the same as It is in 

the approved Code. 

FINDINGS 

The Deputy Administrator in his final report to me on said 

amendment to said Code having found as herein set forth and on 

the basis of all the proceedings in this matter : 

I find that: 

(a) The amendment to said Code and the Code as amended are 

well designed to promote the policies and purposes of Title I of the 

National Industrial Recovery Act including the removal of obstructions to the free flow of interstate and foreign commerce which tend 

to diminish the amount thereof, and will provide for the general 

welfare by promoting the organization of industry for the purpose 

of cooperative action among trade groups, by inducing and maintaining united action of labor and management under adequate governmental sanction and supervision, by eliminating unfair competitive 

practices, by promoting the fullest possible utilization of the present 

productive capacity of industries, by avoiding undue restriction of 

production (except as may be temporarily required), by increasing 

the consumption of industrial and agricultural products through 

increasing purchasing power, by reducing and relieving unemployment, by improving the standards of labor, and by otherwise 

rehabilitatinO' industry. 

(b) The Code as amended complies in all respects with the pertinent provisions of said Title of said Act, including without limitation Subsection (a) of Section 3, Subsection (a) of Section 7, and 

Subsection (b) of Section 10 thereof. 

(c) The Code empowers the Code Authority to present the aforesaid amendment on behalf of the Industry as a whole. 

(d) The amendment and the Code as amended are not designed to 

and will not permit monopolies or monopolistic practices. 

(2) 
3 

(e) The amendment and the Code as amended are not designed to 

and will not eliminate or oppress small enterprises and will not 

operate to discriminate against them. 

For these reasons this amendment has been approved. 

Respectfully, 

AuGusT 31, 1934. 

HuGHS. JoHNsoN, 

Administrator. 
AMENDMENT TO CODE OFF AIR COMPETITION FOR THE 

SILK TEXTILE INDUSTRY 

Article VIII, Section 2 (a) is hereby amended to read as follows : 

Section 2 (a). The standards of fair competition for the Industry 

with reference to pricing practices are declared to be as follows : 

(1) Wilfully destructive price cutting is an unfair method of 

competition and is forbidden. Any member of the industry or of 

any other industry or the customers of either may at any time 

complain to the Code Authority that any quoted price constitutes 

unfair competition as destructive price cutting, imperiling small 

enterprise or tending toward monopoly or the impairment of code 

wages and working conditions. The Code Authority shall within 5 

days afford an opportunity to the member quoting the price to 

answer such complaint and shall within 14 days make a ruling or 

adjustment thereon. If such ruling is not concurred in by either 

party to the complaint, all papers shall be referred to the Research 

and Planning Division of N.R.A. which shall render a report and 

recommendatwn thereon to the Administrator. 

(2) When no declared emergency exists as to any given product, 

there is to be no fixed minimum basis for prices. It is intend~d that 

sound cost estimating methods should be used and that consideration 

should be given to costs in the determination of pricing policies. 

(3) vVhen an emergency exists as to any given product, sale below 

the stated minimum price of such product, in violation of Section 2 

(b) hereof is forbidden. 

Approved Code No. 48--Amendment No. 2. 

Registry No. 263-01. 

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