Approved Code No. 130-Amendment No. 1 Registry No. 1215-06 

; 

NATIONAL RECOVERY ADMINISTRATION 

AMENDMENT TO 

CODE OF FAIR COMPETITION 

FOR THE 

PRECIOUS JEWELRY 

PRODUCING INDUSTRY 

' ' . 

AS APPROVED ON JUNE 26, 1934 

WE DO OUR PART 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 193' 

For •le by the Superintendent of Documents, Washington, D.C. • - • - - - • • Price 5 cents 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White H oTMe. 

Srn: An application has been duly made pursuant to and in full 

compliance with the provisions of the National Industrial Recovery 

Act, :for an amendment to the Code o:f Fair Competition :for the 

Precious Jewelry Producing Industry, submitted by the Code Authority for the Precious Jewelry Producing Industry. 

The purpose and effect of the amendment are to authorize the Code 

Authority to submit a budget and method of assessment upon which 

funds shall be contributed by members of the Industry. 

The Deputy Administrator in his final report to me on said amendn1ent 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 1 of the 

National Industrial Recovery Act including the removal of obstructions to the free flow of interstate and foreign commerce "\\hich 

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 

go-vernmental sanction and supervision, by eliminating unfair competitive practices, by promoting the fullest possible utilization of the 

present productive capacity of the industries, by avoiding undue 

restrictions of production ( except as may be t emporarily r equired) 

by increasing the consumption of industrial and agricultural products through increasing purchasing power, by reducing and relieving 

unemployment, by improving standards of labor, and by otherwise 

rehabilitating 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 Amendment and the Code as amended are not designed 

to and will not permit monopolies or monopolistic practices. 

(d) 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. 

( e) Those engaged in other steps of the economic process have 

not been deprived of the right to be heard prior to approval of said 

Amendment. 

For these reasons, therefore, I have approved this Amendment. 

Respectfully, 

JUNE 26, 1934. 

(2) 

HUGHS. JOHNSON, 

Adniinistrator. 
AMENDMENT TO CODE OF FAIR COMPETITION FOR 

THE PRECIOUS JEWELRY PRODUCING INDUSTRY 

Delete Paragraph ( d), Section 2, Article VI and insert in lieu 

thereof the following : 

" Each trade or industrial association direct!y or indirectly par• 

ticipating in the selection or activities of the Code Authority shall 

impose no inequitable restrictions on membership." 

Add the following as Sections 5, 6, 7 and 8 of Article VI: 

"SECTION 5. It being found necessary in order to support the ad• 

ministrat~on of this code and to maintain the standards of fair com• 

petition established hereunder and to effectuate the policy of the 

Act, the Code Authority is authorized: 

(a) To incur such reasonable obligations as are necessary and 

proper for the foregoing purposes, and to meet such obligations out 

of funds which may be l'aised as hereinafter provided and which shall 

be held in trust for the purposes of the Code.; 

(b) To submit to the Administrator for his approval, subject to 

such notice and opportunity to be heard as he may deem necessary 

(1) an itemized budget of its estimated expenses for the foregoing 

purpo es, and (2) an equitable basis upon which the funds necessary 

to support such budget shall be contributed by members of the 

industry; 

( c) After such budget and basis of contribution have been ap• 

proved by the Administrator, to determine and obtain, equitable contribution as above set forth by all members of the industry, and to 

that end, if necessary, to institute legal proceedings therefor in its 

own name. 

"SECTION 6. Each member of the industry shall pay his or its 

equitable contribution to the expenses of the maintenance of the 

Code Authority, determined as hereinabove provided, and subject to 

the rules and regulations pertaining thereto issued by the Administrator. Only members of the industry complying with the code and 

contributino- to the expenses of its administration as hereinabove provided, shall be entitled to participate in the selection of members of 

the Code Authority or to receive the benefits of any of its voluntary 

activities. 

"SECTION 7. The Code Authority shall neither incur nor pay any 

obligatjon in excess of the amount thereof as estimated in its ap• 

prayed budget, except upon approval of the Administrator; and no 

subsequent budget shall contain any deficiency item for expenditures 

in excess of prior budget estimates except those which the Administrator shall have so approved. 

" SECTION 8. Failure on the part of any member of the industry 

to _con~ri_bute his or its equ~table cont_ribution to. the expenses of 

ma1nta1rung the Code Authority, determmed as hereinabove provided, 

shall be a violation of this Code, subject however to rules and regulations issued by the Administrator which pertain hereto." 

Approved Code No. 130.-Amendment No. 1. 

Registry No. 1215----06. 

(3) 

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