= Bw

ment of rules and regulations for such
management; and relating to the approval
of loans and advances made by such cor-—
porations and of the terms and conditions
thereof.

(6) The functions vested in the Federal Farm
Board by section 9 of the Agricultural Marketing Act
are abolished, except that such functions shall con-
time to be exercised to such extent and for such
time as may be necessary to permit the orderly wind-
ing up of the activities of stabilization corporations
heretofore recognized under authority of such section,
and the Governor of the Farm Credit Administration
shall take appropriate action for winding up at the
earliest practicable date the activities of such cor-
porations and all affairs related to the exercise of
such functions.

(7) The records, property (including office
equipment), and personnel used and employed in the
execution of the functions hereinbefore transferred
are transferred to the jurisdiction and control of
the Farm Credit Administration.

(8) The sum of $2,000,000 of the unexpended
palances of appropriations made to the Federal Farm
Board by Public Resolutions No, 43 and No, 51 of the
Seventy-second Congress shall be impounded and re-
turned to the Treasury, which sum shall be in addi-
tion to the other savings to be effected by the Farm
Credit Administration as a result of this order,

(9) The unexpended balances of appropriations

to the Secretary of Agriculture, the Federal Farm


- 46

and the offices of the appointed members of the
Federal Farm Loan Board, except the office of the
member designated as Farm Loan Commissioner, are
abolished, and all the powers and functions of the
Federal Farm Loan Board are transferred to and
vested in the Farm Loan Commissioner, subject to
the jurisdiction and control of the Farm Credit
Administration as herein provided,

(5) There are transferred to the jurisdiction

and control of the Farm Credit Administration:

(a) The Federal Farm Loan Bureau and the
functions thereof; together with the
functions of the Federal Farm Loan
Board, including the functions of the
Farm Loan Commissioner;

(o>) The functions of the Treasury Department
and the Department of Agriculture, and
the Secretaries thereof, under Executive
Authorizetions to give aid to farmers,
dated July 26, 1918, and any extensions
or amendments thereof;

(c) The functions of the Secretary of Agricul-
ture under all provisions of law relating to
the making of advances or loans to farmers,
fruit growers, producers and owners of live-
stock and crops, and to individuals for the
purpose of assisting in forming or increas-
ing the capital stock of agricultural-credit
corporations, livestock-loan companies, or
like organizations, except Public Resolution
No, 74, Seventieth Congress, approved De-
cember 21, 1928, providing for the Porto
Rican Hurricane Relief Commission;

(d) The Crop Production Loan Office and the
Seed Loan Office of the Department of
Agriculture, and the functions thereof;

(e) The functions of the Reconstruction Finance
Corporation and its board of directors re-
lating to the appointment of officers and
agents to manege regional agricultural
credit corporations formed under section
201(e) of the Emergency Relief and Construc-
tion Act of 1932; relating to the establish-


-6-

Loan Bureau, and the Federal Farm Board for salaries,
expenses, ‘and all other administrative expenditures
in the execution of the functions herein vested in
the Farm Oredit Administration shall be transferred
to and vested in the Farm Credit Administration as

a single fund for its use for salaries, expenses, and
all other administrative expenditures for the execu-
tion of any or all of such functions without restric-
tion as to the particular functions for the execution
of which the same were originally appropriated. All
other appropriations, allotments, and other funds
available for use in connection with the functions
and executive agencies hereby transferred and consol—
idated are hereby transferred to and vested in the
Farm Credit Administration, and shall be available
for use by it, for the same purposes as if the Farm
Credit Administration were named in the law or au-
thority providing such appropriations, allotments,
or other funds,

(10) All power, authority, and duties conferred
by law upon any officer, executive agency, or head
thereof, from which or from whom transfer is herein-
before made, in relation to the executive agency or
function transferred, are transferred to and vested
in the Governor of the Farm Credit Administration,

(11) The Governor of the Farm Credit Admin-
istration is directed to dismiss, furlough, transfer,
or make other appropriate disposition of such of the
officers and employees under his jurisdiction and

control as are not required for the proper execution


EXECUTIVE ORDER

REORGANIZING AGRICULTURAL CREDIT AGENCIES
OF THE UNITED STATES

WHEREAS sections 401 and 403 of Title IV of
Part II of the Legislative Appropriation Act, fis-
cal year 1933, ag amended by an act of Congress ap-

proved March 3, 1933, provide:

"SEC, 401. The Congress hereby declares
that a serious emergency exists by reason of
the general economic depression; that it is
imperative to reduce drastically governmental
expenditures; and that such reduction may be
accomplished in great measure by proceeding
immediately under the provisions of this title,

“Accordingly, the President shall inves—
tigate the present organization of all execu-
tive and administrative agencies of the Govern-
ment and shall determine what changes therein
are necessary to accomplish the following
purposes:

"(a) To reduce expenditures to the full-
est extent consistent with the efficient opera—
tion of the Government;

"“(b) To increase the efficiency of the
operations of the Government to the fullest

extent practicable within the revenues;


-7-

of the functions of the Ferm Credit Administration.

(12) The Governor of the Farm Credit Adminis—
tration is authorized to execute any and all func-—
tions and perform any and all duties vested in him
through such persons as he shall by order designate
or employ.

(13) The Governor of the Farm Credit Adminis-
tration, by order or rules and regulations, may con—
solidate, regroup, and transfer offices, bureaus,
activities, and functions in the Farm Credit Admin—
istration, so far as may be required to carry out
the purposes to which this order is directed, and
may fix or change the names of such offices, bureaus,
and activities and the duties, powers, and titles

of their executive heads,

This order shall take effect upon the sixty-
first calendar day after its transmission to Congress
unless otherwise determined in accordance with the

provisions of section 407 of the act cited above,

Sz the. Matick

as amended,

THE WHITE HOUSE,

omnia he 1933,
6084


-2-

"(c) To group, coordinate, and consoli-
date executive and administrative agencies of
the Government, as nearly ag may be, according
to major purposes;

"(d) To reduce the number of such agencies
by consolidating those having similar functions
under a single head, and by abolishing such
agencies and/or such functions thereof as may
not be necessary for the efficient conduct of
the Government ;

"(e) To eliminate overlapping and dupli-
cation of effort; and

"(f) To segregate regulatory agencies
and functions from those of an administrative

and executive character,

"SEO, 403, Whenever the President, after
investigation, shall find and declare that any
regrouping, consolidation, transfer, or aboli-
tion of any executive agency or agencies and/or
the functions thereof is necessary to accomplish
any of the purposes set forth in section 401 of
this title, he may by Executive order —

"(a) Transfer the whole or any part of
any executive agency and/or the functions there-
of to the jurisdiction and control of any other
executive agency;

"(~) Oonsolidate the functions vested

in any executive agency; or


-3-6-

"“(c) Abolish the whole or any part of any
executive agency and/or the functions thereof;
and

"(d) Designate and fix the name and func-
tions of any consolidated activity or executive
agency and the title, powers, and duties of its
executive head; except that the President shall
not have authority under this title to abolish
or transfer an executive department and/or all

the functions thereof."

NOW, THEREFORE, pursuant to the authority so
vested in me, and after investigation, it is found
and declared that the following changes in executive
agencies and the functions thereof are necessary to
accomplish the purposes set forth in section 401

above recited, and it is hereby ordered that:

(1) The functions of the Secretary of Agricul—
ture ag a member of the Federal Farm Board, and the
offices of the appointed members of the Federal Farm
Board, except the office of the member designated as
chairman thereof, are abolished,

(2) The name of the Federal Farm Board is
changed to the Farm Credit Administration,

(3) The name of the office of Chairman of the
Federal Farm Board is changed to Governor of the
Farm Credit Administration, and he is vested with
all the powers and duties of the Federal Farm Board.

(4) The functions of the Secretary of the

Treasury as a member of the Federal Farm Loan Board,