Evening star., 1934-08-09

fair value, at the time OF this order,
Of silver required 70 be delivered
hereunder as determined by the mar
ket price over a reasonable period
terminating at the time Of this order.
Provides Reimbursement.
Section S. Reimbursement Costs
The Secretary of the Treasury shall
pay all necessary costs, actually In
CURED, of the transportation Of such
silver and standard silver dollars
silver certificates and other coin or
currency Of the United States includ-
ing the cost OF insurance. protection
and such other incidental costs as
may be reasonably necessary. Per-
sons desiring reimbursement Of such
costs shall submit their accounts
on voucher forms which may be OBJ
tanned by writing to the Treasurer
Of the United States, Washington,
d. c."
Section 6. Licenses-The Secre-
tary of the Treasury. subject to such
regulations as he may prescribe, act
ing directly or through such agency
or agencies as he may designate, shall
issue licenses authorizing the with
holding of silver which the Secretary
Of the Treasury, or such agency as he
may designate. is satisfied.
"(A) Is required for legitimate and
customary use in industry, profession
or art by a person regularly engaged
in such industry, profession or art in
the business of processing silver or
furnishing silver therefor;
"(B) has been imported for re-
export; or
"(c) Is required to fulfn an obliga-
ton to deliver silver in such amount
to third person, incurred or assumed
by the applicant on or before the
effective date of this order; provided
that, at the date of the application,
the applicant owns such silver or holds
the obligation OF another to deliver TO
him sucn silver.
Provides for Exceptions.
The Secretary of the Treasury may,
with the approval of the President,
issue licenses authorizing the with
holding Of silver for purposes deemed
to be in the public interest and not
inconsistent with the purposes of the
silver purchase act of 1884 and of
this order.
Section 7. Deliveries in fulfillment
OF obligations or to licensees. No per-
son required to deliver silver owned
by him or in his possession or control
shall be deemed to have failed to
comply with the provisions Of this
order, II such silver is delivered In full
fllment of an obligation incurred or
assumed by such persons on or before
the effective date of this order or Is
delivered to a person licensed to &C
quire and withhold silver in such an
amount under section 6.
Section 8. Def1nitions-As used in
this order the term person means an
individual, partnership, association, or
corporation;
The term continental United
States means the States of the United
States, the District of Columbia, and
the territory of Alaska.
THE term United States mintS'
means the following mintS and assay
Offices:
Mint, Philadelphia, Pa; mint office,
New York; mint, Denver; mint, San
Francisco; assay Office, Seattle; mint,
New Orleans.
Section 9. Penalties and forfeit
ures-An persons are hereby inform
ed of the following provisions of Sec
tion Of the silver purchase act of
1884 with respect to penalties and
forfeitures:
:" Any silver withheld in vio-
lation of any Executive order issued
under this section or of any regula-
tions issued pursuant thereto shall be
forfeited to the United States, and
may be seized and condemned by
like proceedings as those provided by
law for the forfeiture, seizure and
condemnation of property imported
into the United States contrary to
law; and, in addition, any person
falling to comply with the provisions
of any such Executive order or regu-
lation shall be subject to a penalty
equal to twice the monetary value Of
the silver in respect of which such
failure occurred
This order shall bear the date
OF, and becomes effective on, the day
on which the Secretary or Acting
Secretary of State countersigns and
deposits this order so countersigned
in the Office of the Secretary of state.
as a part Of the archives of the Ma
ton.
This order may be modified or
revoked at any time.
FRANKLIN D. ROOSEVELT
"CounterSigned, by direction of the
President, this 9th day of August,
1884.
"CORDELL HULL,
Secretary of State"