WTF?? Right??? By the President of the United States of America. A PROCLAMATION. Whereas there have been heavy and unwarranted withdrawals of gold and currency from our banking institutions for the purpose of hoarding; and Whereas continuous and increasingly extensive speculative activity abroad in foreign exchange has resulted in severe drains on the Nations stocks of gold; and Whereas those conditions have created a national emergency; and Whereas it is in the best interests of all bank depositors that a period of respite be provided with a view to preventing further hoarding of coin, bullion or currency or speculation in foreign exchange and permitting the application of appropriate measures to protect the interests of our people; and Whereas it is provided in Section 5(b) of the Act of October 6, 1917 (40 Stat. L. 411), as amended, That the President may investigate, regulate, 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, hoarding, melting, or earmarkings of gold or silver coin or bullion or currency . . .; and Whereas it is provided in Section 16 of the said Act That whoever shall willfully violate any of the provisions of this Act or of any license, rule, or regulation issued thereunder, and whoever shall willfully violate, neglect, or refuse to comply with any order of the President issued in compliance with the provisions of this Act, shall, upon conviction, be fined not more than $10,000, or, if a natural person, imprisoned for not more than ten years, or both . . .;
Posted on: Tue, 27 Jan 2015 13:25:53 +0000
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