The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-06
BANK PROCLAMATION
OF new PRESIDENT
PUBLISHED IN FULL
Roosevelt lnvokes Powers Civ.
on Him Under Measure
Passed in 1917

Washington, March 6.-(F)-The
full text of President RooSevelt's proc
lamation on the banking situation fol-
lows:
Whereas there have been heavy
and unwarranted Withdrawals OF gold
and currency from our banking insti-
tutions for the purpose Of boarding;
and
Whereas continuously increasing
ard extensive speculative activity
abroad in foreign exchange has re-
suited in severe drains on the ma
tons stocks of gold: and
Whereas these conditions have
created national emergency: and
Whereas it is in the best interests
Of all bank depositors that q period
Of respite be provided with q view to
preventing further boarding Of coin,
bullion or currency or speculation in
foreign exchange and permitting the
application Of appropriate measures
to protect the interests of our peo-
pie; and
Whereas it is provided in Section
5 OBJ of the act of October 6, 1917,
tRo Stat. L. AID as amended, that
the president may investigate. regu-
late. or prohibit, under such rules
and regulations as he may prescribe,
by means of licenses or otherwise,
any transactions in foreign exchange
and the export, boarding. melting, or
earmarking Of gold or silver coin or
bullion or currency, -: and
Whereas 1t IS provided In section Is
of the said act that whoever shall
willfully violate any of the provisions
OF this act or of any license, rule, or
regulation issued hereunder, and
whoever shall willfully violate, neg
lect, or refuse to comply with any or
der Of the president issued in compli-
ance with the provisions Of this act,
shall, upon conviction, be fined no
more than $4,000, or, II a natural
person, imprisoned for not more than
ten years, or both:
FOur-Day Respite
Now, therefore, !, Franklin D.
Roosevelt, president Of the United
States Of America in view Of such ma
tional emergency and by virtue Of the
authority vested in me by said act
and IN order to prevent the export,
boarding. or earmarking Of gold or
silver coin or bullion or currency, do
hereby proclaim, order. direct and
declare that from Monday, the sixth
day Of March, to Thursday, the ninth
day Of March. nineteen hundred and
thirty three, both dates inclusive,
there shall be maintained and OBJ
served by all banking institutions and
all branches thereof located in the
United States of America, including
the territories and insular possess
stons, q bank holiday, and that during
said period all banking transactions
shall be suspended. During such hol.
iday. excepting as hereinafter provid-
ed, no such banking institution or
branch shall pay out, export, ear
mark, or permit the withdrawal or
transfer in any manner or by any de-
vice whatsoever, Of any gold or silver
coin or bullion or currency or take
any other Action which might facili-
tate the boarding thereof: nor shall
any such banking institution or
branch pay out deposits. make loans
or discounts, deal in foreign ex-
change. transfer credits from the
United States to any place abroad,
or transact any other banking bust
ness whatsoever.
Provide Special Trusts
During such holiday, the secretary
OF the treasury, with the approval Of
the president under such regulations
as he may prescribe, is authorized and
empowered (A) to permit any or Ill
Of such banking institutions to per-
form any or all Of the usual banking
functions. CD to direct. require or
permit the issuance Of clearing house
certificates or other evidences oil
claims against assets Of banking In
situations, and (C) to authorize and
direct the creation in such banking
institutions Of special trust accounts
for the receipt Of new deposits which
shall Be subject to withdrawal on de-
mand without any restriction or limi-
tation and shall b kept separately
In cash or on deposit In federal re-
servo banks or invested In obligationa
Of the United States.
!! "As used In this order the term
thanking institutions" shall includl
al federal reserve banks, national
banking associations. banks, trusl
companies, savings hanks, building
and loan associations, credit unions
Of other corporations, partnerships
aasociations Or persons, engaged II
thu hllainAes ~ nAnnivinw AArraifs