Full text of Banking Holiday of 1933 : Executive Order

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FEDERAL RESERVE BANK
OF
ST. LOUIS
March 18, 1933.

EXECUTIVE ORDER
To All Banks in District No. 8:
The President has today issued the following Executive Order:
"Whenever the appropriate authority having immediate supervision of
any banking institution located in any state or place subject to the jurisdiction
of the United States, which is a member of the Federal reserve system and
which has not been licensed by the Secretary of the Treasury to resume its
usual banking functions shall deem it necessary or advisable in order to
conserve the assets of such banking institution for the benefit of the depositors
or other creditors, such authority may, in accordance with the provisions of
the applicable laws of such state or place, appoint such appropriate official as
may be authorized under such laws to conserve the assets of such banking
institution pending further disposition of its business as provided by such
laws.
"This order shall not authorize any such member bank to reopen for
the performance of usual and normal functions until it shall have received
a license from the Secretary of the Treasury as provided in Executive Order
of March 10, 1933."
FRANKLIN D. ROOSEVELT
The White House,
March 18,1933.
Respectfully,
WM McC. MARTIN,
Governor.