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could pay and deliver to the Treasurer of the United States in the manner provided in 88 52.1–52.6, the gold coin, gold bullion, and gold certificates situated in the United States, owned by such person; and

Whereas in my judgment such action is necessary to protect the currency system of the United States;

Now, therefore, I, Henry Morgenthau, Jr., Secretary of the Treasury, do hereby fix midnight of Wednesday, January 17, 1934, as the expiration of the period within which any gold coin, gold bullion, or gold certificates may be paid and delivered to the Treasurer of the United States in compliance with the requirements contained in $$ 52.1–52.6.

In the event that any gold coin, gold bullion, or gold certificates withheld in noncompliance with 88 52.1–52.6 and of this section are offered after January 17, 1934, to the Secretary of the Treasury, the Treasurer of the United States, any United States mint or assay office, or to any fiscal agent of the United States, there shall be paid therefor only such part or none of the amount otherwise payable therefor as the Secretary of the Treasury may from time to time prescribe and the whole or any balance shall be retained and applied to the penalty payable for failure to comply with the requirements of 88 52.1– 52.6 and of this section. The acceptance of any such coin, bullion, or certificates after January 17, 1934, whether or not a part or all of the amount otherwise payable therefor is so retained, shall be without prejudice to the right to collect by suit or otherwise the full penalty provided in section 11 (n) of the Federal Reserve Act, as amended, less such portion of the penalty as may have been retained as hereinbefore provided.

The definitions of the terms “person”, “United States”, “gold coin”, and "gold bullion” contained in $ 52.4, apply equally to such terms as used in this section.* [Order, Sec. Treas., Jan. 15, 1934]

PART 53-INSTRUCTIONS OF THE SECRETARY OF THE TREASURY CONCERNING WRONGFULLY WITHHELD GOLD COIN, GOLD BULLION, AND GOLD CERTIFICATES DELIVERED AFTER JANUARY 17, 1934

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Section 53.1 Wrongfully withheld gold coin, gold

bullion, and gold certificates delivered after January 17, 1934. The Order of the Secretary of the Treasury dated January 15, 1934 (8 52.7), supplementing the Order of December 28, 1933 (S$ 52.1–52.6), requiring the delivery of gold coin, gold bullion and gold certificates to the Treasurer of the United States provides, in part, as follows:

I, Henry Morgenthau, Jr., Secretary of the Treasury, do hereby fix midnight of Wednesday, January 17, 1934, as the expiration of the period within which any gold coin, gold bullion, or gold certificates may be paid and delivered to the Treasurer of the United States in compliance with the requirements contained in such Order of December 28, 1933, as amended (88 52.1–52.6).

In the event that any gold coin, gold bullion, or gold certificates withheld in noncompliance with said Order (88 52.1–52.6) and of this Order are offered after January 17, 1934, to the Secretary of the Treasury, the Treasurer of the United States, any United States mint or assay office, or to any fiscal agent

*For statutory citation, see note to s 52.1.

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of the United States, there shall be paid therefor only such part or none of the amount otherwise payable therefor as the Secretary of the Treasury may from time to time prescribe and the whole or any balance shall be retained and applied to the penalty payable for failure to comply with the requirements of such Order (&$ 52.1–52.6) and of this Order. The acceptance of any such coin, bullion, or certificates after January 17, 1934, whether or not a part or all of the amount otherwise payable therefor is so retained, shall be without prejudice to the right to collect by suit or otherwise the full penalty provided in section 11 (n) of the Federal Reserve Act, as amended, less such portion of the penalty as may have been retained as hereinbefore provided.

Subject to the rights reserved in said order of January 15, 1934 ($ 52.7), supplementing the order of December 28, 1933 (S$ 52.152.6), requiring the delivery of gold coin, gold bullion and gold certifi. cates to the Treasurer of the United States, and without prejudice to the right to alter or amend these instructions from time to time by notice to the Treasurer of the United States, the United States mints and assay offices, and the Federal Reserve banks, I do hereby prescribe that in the event that any gold coin, gold bullion or gold certificates held in noncompliance with said order of December 28, 1933 (88 52.1– 52.6), as amended, and said order of January 15, 1934_(8 52.7), are offered after January 17, 1934, to the Secretary of the Treasury, the Treasurer of the United States, any United States mint or assay office or to any fiscal agent of the United States, the Secretary of the Treasury, the Treasurer of the United States, any United States mint or assay office, and the fiscal agents of the United States shall pay for such gold coin and gold certificates the dollar face amount thereof, and for gold bullion $20.67 an ounce. Member banks of the Federal Reserve System may receive such gold coin, gold bullion and gold certificates for account of the Treasurer of the United States and forthwith forward the same to the Secretary of the Treasury, the Treasurer of the United States, any United States mint or assay office or any fiscal agent of the United States, whichever is nearest. (Secs. 3, 13, 48 Stat. 2, 343; 12 U.S.C. 248 (n), 213) [Instructions, Sec. Treas., Jan. 17, 1934] PART 54-PROVISIONAL REGULATIONS ISSUED UNDER

THE GOLD RESERVE ACT OF 1934, AS AMENDED Sec.

Sec. SUBPART A-General provisions 54.8a (1) Instructions to collectors of 54.1 Authority for regulations.

customs relative to gold ex54.2 Scope.

ported from Mexico.

54.9 Forms available. 54.3 Titles and subtitles.

54.10 Representations by licensees. 54.4 Definitions.

54.10a Business names and represen54.5 General provisions affecting

tations generally. applications, affidavits, and

54.11 Penalties. reports.

SUBPART B-Conditions under 54.6 General provisions affecting

which gold may be acquired licenses. 54.7 General provisions affecting

and held, transported, melted

or treated, imported, exportexport licenses.

ed, or earmarked or held in 54.8 General provisions affecting

custody for foreign or doimport licenses.

mestic account 54.8a Certificates with respect to im

54.12 Conditions under which gold ported gold.

may be acquired, held, melted, etc.

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Sec. 54.13 54.14

54.15

54.16 54.17 54.18 54.19 54.20

54.21 54.22 54.23

Sec.
Transportation of gold.
Gold situated outside of the

United States.
Gold situated in the posses-

sions of the United States. 54.31
Fabricated gold.

54.32
Metals containing gold.
Unmelted scrap gold.

54.33

54.34
Gold in its natural state.
Rare coin,
SUBPART C-Gold for indus-
trial, professional, and artis- 54.35
tic use

54.35a
Thirty-five-ounce exemption.

54.35b
Licenses required.
Purposes for which licenses
shall be issued.

54.350
Applications.
Licenses.

54.350
Records.

54.36 Reports.

54.37
SUBPART D-Gold for the pur-

54.38
pose of settling international
balances, and for other pur-
poses

54.39
Acquisitions by Federal Re-

54.40 serve banks for purposes of

54.41
settling international bal-

54.42
ances, etc.
Dispositions by Federal Re-

serve banks.
Provisions limited to Federal 54.43
Reserve banks.

54.44

SUBPART E-Gold for other purposes

not inconsistent
with the purposes of the Gold
Reserve Act of 1934
Licenses required.
Gold imported in gold-bearing

materials for re-export.
Gold imported for re-export.
Licenses for other purposes.
SUBPART F-Purchase of gold

by mints
Purchases by mints.
Gold refined from imported

gold-bearing materials. Gold imported into the United States prior to January 31, 1934. Gold filings, clippings, pieces,

and the like.
Gold refined from mint sweeps.
Deposits.
Rejection of gold by mint.
Gold recovered from natural
deposits in the United States
or any place subject to the
jurisdiction thereof.
Unmelted scrap gold.
Imported gold.
Records and reports.
Purchase price.
SUBPART G-Sale of gold by

mints
Sale by mints.
Sale price.

54.24 54.25 54.26 54.27

54.28

54.29

54.30

CROSS REFERENCES

Foreign Trade Zones Board regulations relating to handling of gold and

silver : See Commerce, 15 CFR 400.803a. Regulations of the Bureau of Foreign and Domestic Commerce relating to the

importation and exportation of gold : See Commerce, 15 CFR 305.17.

SUBPART A—GENERAL PROVISIONS Section 54.1 Authority for regulations. The regulations in this part, deemed necessary and proper by the Secretary of the Treasury to carry out the purposes of the Gold Reserve Act of 1934, approved January 30, 1934 (48 Stat. 337), are issued by the Secretary of the Treasury, with the approval of the President, under authority of said Act.*+ [Sec. 1]

*$$ 54.1 to 54.44, inclusive, issued under the authority contained in 48 Stat. 337–344, as amended by 50 Stat. 4; 12 U.S.C. 213, 411-415, 417, 467, 31 U.S.C. 315b, 408a, 408b, 440-446, 733, 734, 752, 753, 754a, 754b, 757a, 767, 771, 822b, 824, 31 U.S.C. 821, 822a, and Sup. III.

řIn 88 54,1 to 54.44, inclusive (except $$ 54.8a (1), 54.35a-54.35d), the numbers to the right of the decimal point correspond with Provisional regulations under the Gold Reserve Act of 1934, issued by the Secretary of the Treasury and approved by the President, Jan. 30, 1934, as amended to June 1, 1938. Amendments and supplemental documents are noted in brackets following sections affected.

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54.2 Scope. Sections 54.12–54.34 refer particularly to section 3 of the Act (48 Stat. 340; 31 U.S.C. 442); and $8 54.35–54.44 refer particularly to sections 8 and 9 (48 Stat. 341; 31 U.S.C. 734, 733), respectively, thereof.

The provisions of this part may be revoked or modified at any time and any license outstanding at the time of such revocation or modification shall be modified thereby to the extent provided in such revocation or modification.** [As amended Jan. 31, 1934]

54.3 Titles and subtitles. The titles in this part are inserted for purposes of ready reference and are not to be construed as constituting a part of the regulations in this part.**

54.4 Definitions. As used in this part, the term:

“Act” means the Gold Reserve Act of 1934, approved January 30, 1934.

“United States” means the Government of the United States, or, where used to denote a geographical area, means the continental United States and all other places subject to the jurisdiction of the United States.

“Continental United States” means the States of the United States, the District of Columbia, and the Territory of Alaska.

"Currency of the United States” means currency which is legal tender in the continental United States, and includes United States notes, Treasury notes of 1890, gold certificates, silver certificates, Federal Reserve notes, and circulating notes of Federal Reserve banks and national banking associations.

“Person" means any individual, partnership, association, or corporation, including the Federal Reserve Board, Federal Reserve banks, and Federal Reserve agents.

“Mint” means a United States mint or assay office, and wherever authority is conferred upon a “mint” such authority is conferred upon the person locally in charge of the respective United States mint or assay office acting in accordance with the instructions of the Director of the Mint or the Secretary of the Treasury.

“Mint district” means one of the following areas:

The mint district of Philadelphia, which for the purposes of this part consists of the States of Illinois, Indiana, Kentucky, Maryland, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, and West Virginia, and the District of Columbia.

Thé mint district of New York, which for the purposes of this part consists of the States of Connecticut, Delaware, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and Wisconsin, and Puerto Rico, the Virgin Islands of thé United States, and the Panama Canal Zone.

The mint district of Denver, which for the purposes of this part consists of the States of Colorado, Iowa, Kansas, Minnesota, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Utah, and Wyoming

The mint district of San Francisco, which for the purposes of this part consists of the States of Arizona, California, and Nevada, and the Territories and possessions of the United States not specifically included in other mint districts.

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**For statutory and source citations, see note to 8 54,1.

The mint district of Seattle, which for the purposes of this part consists of the States of Idahó, Montana, Oregon, and Washington and the Territory of Alaska.

The mint district of New Orleans, which for the purposes of this part consists of the States of Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Tennessee, and Texas.

“Gold coin” means any coin containing gold as a major element, including gold coin of a foreign country.

"Gold bullion” means any gold which has been put through a process of smelting or refining, and which is in such state or condition that its value depends primarily upon the gold content and not upon its form; but it does not include metals containing less than 5 troy ounces of fine gold per short ton, nor does it include gold coin.

"Fabricated gold” means gold which has, in good faith and not for the purpose of evading, or enabling others to evade, the provisions of the Act or of the regulations in this part, been processed or manufactured for some one or more specific and customary industrial, professional, or artistic uses, but does not include gold coin or scrap gold.

“Scrap gold” means gold sweepings and fabricated gold, the value of which depends primarily upon its gold content and not upon its form, which is no longer held for the use for which it was processed or manufactured.

Wherever reference is made in this part to equivalents as between dollars or currency of the United States and gold, $1 or $1 face amount of any currency of the United States equals such a number of grains of gold, nine tenths fine, as, at the time referred to, are contained in the standard unit of value, that is, so long as the President shall not have altered by proclamation the weight of the gold dollar under the authority of section 43, title III, of the Act approved May 12, 1933 (48 Stat. 51; 31 U.S.C. 821), as heretofore and by the Act amended, grains of gold, nine tenths fine, and thereafter such a number of grains of gold, nine tenths fine, as the President shall have fixed under

such authority. Wherever reference is made in this part to "sections”, the reference is, unless otherwise indicated, to the designated sections of this part.*+

54.5 General provisions affecting applications, affidavits, and reports. Every application, affidavit, and report required to be made hereunder shall be made upon the appropriate form prescribed by the Secretary of the Treasury and, except insofar as the regulations in this part may otherwise specify, shall be executed under oath before an officer authorized to administer oaths. Duplicate copies properly executed shall be filed with the agencies designated in this part for that purpose. Action upon any application or affidavit may be withheld pending the furnishing of any or all of the information required in such forms or of such additional information as may be deemed necessary by the Secretary of the Treasury, or the agency authorized or directed to act hereunder. There shall be attached to the applications, affidavits, or reports such instruments as may be required by the terms thereof and such further instruments as may be re

**For statutory and source citations, see note to $ 54.1.

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