Evening star., 1933-05-01
TREASURY PERMITS
) PURCHASE OF GOLD
/ TO CARRY ON TRADE
Continued From First PageD

and customary requirements of his busi-
mess.
The Federal Reserve bank, if satisfied
that the geld is necessary to the appll-
lcAr1ts business may permit him to pur-
chase 1t upon payment Of an equivalent
HAmount of coin or currency issued by
The United States
The records of persons and dealers
using gold shall be open to inspection
,by the Treasury and the gold SO pur-
Echased shall be disposed CT only rs per-
limited in the regulations and the
lexecutive order of President Roosevelt
issued on April 5.
The regulations revoke the previous
regulation issued by Secretary Woodin
permitting the normal use Of gold in
industrial arts.
Decision Up to Secretary.
They require that a license must be
pobtained before gold coin. gold bullion
FOR gold certificates may BE- exported and
THAT the licenses may be issued only in
;the discretion of the Secretary OF the
Treasury. He may issue such licenses
kor export of gold earmarked or held in
thrust for q recognized foreign govern
'ment foreign central bank or the Bank
lfor International Settlements. gold I'M
sported for re-export, gold required for
Iulfillment of any contract entered into
nrior to April 20 by an applicant who in
obedience to the executive order OF
April 5 had delivered his gold TO the
Treasury and with the approval OF the
president. gold may be exported for
transactions which he may deem neceS-
sary to promote public interest.
The application to export goid must
be made to the Secretary Of the Treas
ui
name and address of the applicant. the
owner OF the gold to be exported. the
amount and description of it, the port
ffrom which shipment will be made, the
name and address of the conSlgnee, the
nature of the transaction ana lactS
making necessary the export
The applicant must state the amount
of gold coin. gold bullion or gold certln-
oates he has already delivered to the
lGovernment and the amount OF com oi
bullion actually required.
The application must be filed with a
Federal Reserve bank, and the bank
kafter making an investigation must
kransmit the original to the Secretary
Pof the Treasury together with whatever
lplpplemental information 1t may deem
Inappropriate and recommendation as 10
whether the application shall be granted
ses denied.
Will Be Numbered .Serially.
The Secretary may authorize the Fed
Aeral Reserve bank on his behali 10 issue
q license for the export of the gold.
If a license is not granted, the oahk
Twill notify the applicant.
Each license is required to be num-
Abered serially, bear the date OF issue,
khe name and address of the hcensee,
Sthe name and address Of the conslgnee'
1.-The amount and description OF the goio'
fthe port of export and statement that
the license expires in Is days.
At the time the license is issued, the
Federal Reserve Bank is required 10
&ransmit copy Of it to the collector
bpf customs at the port OF export aho
lno collector shall permit the export OF
kany gold except upon surrender OF
Hicense OF export, copy OF winch mas
hIready been received by him.
Must Be Weighed and Assayed.
Upon the formal entry into the
d1nited States of gold-bearing ores, or
,any other gold bearing materials Tor
ismelting or refining under an agree
knent providing for the export OF gold
{bullion, the exporter is required 10 no
itify the collector OF customs at the port
kvhsre the ore or material is formally
sentered that the Importation Is mace
hlnder such agreement. The conector
lis required to forward copy OF the
kentry to the United States Assay Once
lin New York or United States Mint at
San Francisco
As soon as the imported gold-bearing
ore or material is received at the plant
where it is to be treated. it must be
weighed sampled and assayed for golo
content
A sample must be retained for at
least one year and the importer is re-
louired to keep an exact record show
fling the gross weight OF the importation;
ithe net weight, the percentage and
.ueieht of moisture, the dry weight, the
gold content shown by the settlement
assay ana the amount OF gold bullion
to be exported under the agreement.