The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Weas-
H $
Tt>
.flippy
V.
\ z *
U.S.
/ r e a ^ y -
"P re ss
le i
-^P'-
ea$t.%
«l
L IB R A R Y
ROOM 5030
JUN 141972
TREASURY DEPARTMENT
...____
w
w
fig
&
Q
PASE 3
List.
\Tq . Stated
Stills
Seized
Gals, of Gals, of
Spirits Fash
Capacity
7
(cont) ! Ind.1
3
185
25
110
total]
12
2,265
4,889
93,705
U.D J
m
S D !
1
15
22
50
fi
350
378
3,770
g
Mi nn
Autos
Seized
$120.
7TT
■m
2"i
365
1,209
3,802
Kan .
1
15
42
57
Okla.*
2
Mo.
12
6
21
1-435
Not re
ported
$1,450.
$420.
1
Not re-
5
—
Wvn
.
■
—
* 160
1-200
1
504
14,430
3
225
2-400
931
18.087
$276.
1
$3,590,1
$400.
4
1
.
i
J*
Artz . 1...... 3 .
1r
....... 1.35... .....
$205.1
I11
OBB -
oBa
25
11 .... „...450.
$10.
y . :I
i
1
..— j ------ J
J___________ 1------- I
19
2 J___________ |---- — J
$20.1
$225.1
11J ___________ 1
-------ft
38. j
.... „ . J . ..........
Ji
$30.1
$1761
10-J___*________ i
______J
------- ,
$2,237 *____ .16-1----------- 1
$4001
$4.311 L.__$2,843^
Htab !
Pnl n
11
$1.055.1 ____ 33_ j___________ l------
$297
52
u.
$2,200
$45.
|§|
10
$120.!
.
7
TOTAL!
$4,255.
$1780.
5
553
total]
r
6 i
256
Ark. !
i
mm
■Neb. í
9
Trucks
Seized
Maine of¡Value of
r .... ....
Property| Property
Seized
Destroyed. 1.Afreets -- ---- ---- !.----- |j!
... ZÍ__________ J ------- ¡:
n d
....... _ . i _ J
.. g 1_______ _ J __ -__ J
mm
mm
$ioi
1
2
-•
1
;
*
PAGE 2
Stills
Diet.
.. ...... State... ..Seized...
k
( cont)
5
D.C.
1
TOTAL
25
Ga.
19
ila.
17
Ala.
; Gar»c itv
J,
I
!If
b-als. o f i Gals. of
¡Spirits ¡Mash
Seized
1Seized
i
Seized
ao
148 1
100
!
4
14^0
1109 J
25,040
|
7
-
1
$735,
1
$4,805]
$100.1
i
j
49
!
$3,735 !
90
1
3486
319 1 15.265
i
1
$2.315i
$2.290.!
24
j
2240
589 ! 11,900
1
3
$3.776i
$3.101.1
22
1,
14
4950
268 !
3,450
!
6
$2.511j
$751.f
23
1
Miss.
8
590
52 1
1.750
!
4
_
$1,184]
$609 J
18
La.
1
50
146 !
50
j
2
mm
$160 i
$15 J
12
995
j
2,435
|
mm
$1,047]
$779 j
34
Tex.
i -------------I
264
6
71
m r
34,850
!
22
$10,993|
$7,54$
132
17
780
486
i
8,320
|
2
$1.339 [
$1,339]
17
j
12
1.250
1.990
28,300
|
1
$9.452]
$ 9 , 052 i
18
1
Ky.
15
515
328
3,540
1
4
$1,566]
$1 , 155 <j
28
I
Tenn.
19
18,450
|
4
$3,560;
$2,335]
32
j
' $15,917]
$13,881;
95
1
■
Ohio
TOTAL
f
63
I *
1,040*1
1
2,297
•y------*
— -—
I;
1
3,844 | 58,610 j
4,842
!
I T
\
"
.
!
!
1
|
Mich.
1
i
1,638
!
......... 1 ...........
1
11 !
12,311
71
TOTAL
6
Va l u e of ! V a l u e of j
T rucks P r o p e r t y i Pro p e r t y ;
D e s t r o y e d 1Ar r e s t s
Seized Seized,
Autos
['
j
.
J
if 7r
1
7
Wis.
.5
1565
4.710
41*065 ^
Ì 2 .6 1 0 L
j
$ 2 10 i
,.
_______ ;______ j____________
}
j
111.
4
515 !
1541
52,530 !
2
-
,... $7251.
* Includes 96f gal. of bottled In bond whiskey.
___
26 j____________ ,
Dist
Stills
No. !State | Seized
f
]
Maine
1
N. H.
Gals, of <i&ls. of 1
i Autos
Spirits >Mash
Capacity Seized
Seized
j Seized
t
1 Value of j Value of
f
\Trucks jProperty/} Property
|Seized | Seized (J Destroyec Arrests •
t.... "...TiV\— .... ”
t
**
!
Vt.
"* ,
Mass.
6
5*800
Conn, j
1
750
TOTAL 1
7
6.550
2
N. Y. I
12
3
Pa.
1.180
40.400
2 L
1
1
E. I.
j.
8
40,400
31
4.439 ___ _825_
52.164
1J
1*264
26,430
4 1
1.276
~
i \
mm
■
- -■
¿36.025.1
i !
1,180
1 i
3
/-
; /
.
f f
V
*• ! ....t
■ ' !
1
$36,850.]
!
l
¿1.040.
\
\
$20,310.] $16,45Q.
k
6
7,600
2,395
116,100
- 1
Del.
j
1
150
13
1.000
2 j
TOTAL |
15
9,014
3,684
143,530
Md.
8
605
507
5,310
1 |
Va,
1
100
20
**
:
5 |.
2
5
$2,^25.
$1,900.
$600j
/$50.
1
$26,135.1 $1834.0.
—
— ... -N—
$1,635.1
$1,5Q0,
$200,1
/$200.
mm
\/
$25. 1 /
! W. Vaj
:
1
15
33
30
1 1
|
6
!
1
2
1
1
:8 . j
I
11
1
io J
¿L.
..
‘ |
.
"
1
1 N .Car j
8
450
299
15.550
1 !
41.315.
41.300.
I S.Car J
6
ZOO
102
4,050
-[
$895i
$575.
9
L
i ]
20
j
15
j
1 1f:
|
]
8 1
1
5 I
j
.
j
12
s
.
:
I
j
N. J. f
mm
-\ ***
4825.1
8.936.1
j
c*
|
!
1
?
1. L
#
TREASURY DEPARTMENT
Washington
M FOR IMMEDIATE RELEASE
** JUNE 18 , 1934
Press Service
No. 2 - 0
ACTIVITIES OE REGULATIVE INSPECTORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING JUNE 9, 1934 .
(Corrected statement based on complete weekly reports
of supervisors.)
4
Hj
Dist.
No.
States
1
Maine
v
r• ¿1»
rl
Stills
Seized
Capacity
6
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
TT
vt.
Mass.
Conn.
R. I.
5,800
750
1,180
40,400
1
1
3
$36,025
825
6
2
TOTAL
7
6,550
1,180
40,400
4
$36,850
8
2
N. Y.
12
4,439
825
1
$ 8,936
11
3
Pa.
N. J.
Del.
8
1
1,264
7,600
150
1,276
2,395
13
26,430
116,100
1,000
7
2
2
$20,310
2,225
600
10
9
1
TOTAL
15
9,014
3,684
143,530
11
$26,135
20
8
1
1
8
507
20
33
299
102
148
5,310
1
30
15,550
4,050
100
1
1
1
605
100
15
450
200
50
5
$ 1,635
200
25
1,315
895
735
15
1
12
8
5
49
TOTAL
25
1,420
1,109
25,040
8
$ 4,805
90
Ga.
ELa.
Ala.
Miss.
La.
Tex.
19
17
14
8
1
12
3,486
2,240
4,950
590
50
995
319
589
268
52
146
264
15,265
11,900
3,450
1,750
50
2,435
1
3
6
4
2
6
$ 2,315
3,776
2 ,'511
1,184
160
1,047
24
22
23
18
11
34
TOTAL
71
12,311
1,638
34,850
22
$10,993
132
Æk
w
&>
R
52,164
0
1
4
t'
1
1/
jtk
9
m
w
Md.
Va.
W. Va._
N. Car.
S. Car.
D. C.
6
6
m u
5
4
•
fjft
•
p»
I
•
Dist.
No.
6
t v ! ,•
7
V
| *
States
it
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
486
1,990
328
1,040
8,320
28,300
3,540
18,450
2
;i
4
4
$ 1,339
9,452
1,566
3,560
17
18
28
32
4,842
3,844
58,610
11
$15,917
95
5
4
3
1,565
515
185
4,710
154
25
41,065
52,530
110
2
$ 2,610
1,525
120
6
26
1
12
2,265
4,889
93,705
2
$ 4,255
33
1
6
15
350
22
378
553
256
50
3,770
Capacity
Mich.
Ohio
Kjyv
Tenn.
17
12
15
19
780
1,250
515
2,297
TOTAL
63
Wis.
111.
Ind.
TOTAL
8
Gals, of
Mash
Seized
Stills
Seized
N. D.
S. D.
Minn.
Neh.
Iowa
#
— ■rTt—
h
9
0
10
|
$ 1,780
1
420
$ 2,200
38
$
TOTAL
7
365
1,209
3,802
6
Kan.
Okla,
Mo.
Ark.
1
2
12
6
15
42
160
504
225
57
1,200
14,430
2,400
1
4
45
276
3,590
400
3
10
16
7
TOTAL
21
931
18,087
5
$ 4,311
112
1
$
1,435
1,450
52
297
3
10
100
1
2
1
407
7
$ 2,213
31
9
1
100
6
Wyo.
Utah
Colo.
Ariz.
N. Mex.
1
3
3
15
135
70
11
11
4
.25
450
215
TOTAL
7
220
78
690
1
$
4
♦
11
Cal.
Nev.
—
Report not received.
TOTAL
9
5
6
19
2
11
I
0
J
m
Gals, of
Spirits
Seized
fd
f
K *
12
Wash.
Ore.
Mont.)
Ida. )
TOTAL
GRAND TOTAL
(Exc.Dist.il)
3
1
347
5
6^9
10
4,699
225
4
87
34
675
8
439
663
5,599
4
$ 2,344
16
248
43,315
20,050
476,495
71
$114,153
486
to the'United States Government and in case of transfers
made before 9:00 p. mu June 19, 1934, in which cases the
liability rests upon t he transferor,
n
Persons wlfo transf er ed interests in silver bullion
7,
between May 15, 1934 and the time of enactment of the Silver
Purchase Act must file cj^return
1934,
8.
on or before July 18,
reporting the transfer.
Persons who transfer interests in silver bpullion after
the time of enactipent
of the Silver Purchase Act
must
deliver to the transferee a memorandum, under oath, giving
the details of the transaction, which memorandum must be
transmitted to a collector of internal revenue \
If the transfer
is taxable, stamps must be affixed before delivery of the
memorandum to the transferee•
9,
The regulations provide for abatement or refund of taxes
in certain, cases
where the profit isSv~rf3alized in the course
of ihe transferor*s
regular business
of furnishing
silver
bullion for industrial, professional or artistic use.
( S K I * W T
¡rU-ssaJ
P^L4A<0^^
U. B .
D ocum entary
/
'
•¿p ^j 0yji
tax stamps to be affixed
silver purchase memoranda have been supplied to the
of internal revenue.
oo*
/<,
collectors
1
The tax applies to transfers made on or after M a y 15, 1934#
Separate regulations govern transfers
completed
prior to 9:00 p. m*. June 19 and those completed after that
time*
4*
The
tax applies to transfers
to the United States
Government except transfers by deposit or delivery at a Uhited
States mint (a) under the proclamation of December 21, 1933,
T&
Oi
^1.4/CA
•
or other like proclairiation or the President, or (b)
in
¿JO
compliance with any Executive order ^issued pursuant to . A/. , /
"7 Qu*JX++l*’* * ii* *
P
(JJ cuzA
section 7 of the Silver Purchase Act of F f S S S P 1934» Transfers
by the United States Government are not taxable.
5*
The tax is fifty per cent of the amount by which
the price
♦
for the interest in silver bullion# is or is— W .to transferred
exceeds the total of the cost thereo f plus the allowed expenses,
(a)
Price is defined as "the amount of money and/or the
market value of the property other than m o n e j^received or
to be received by the transferor, directly or indirectly,
in consideration of thetransfer".
(b)
Cost is defined as "the amount paid or agreed to be #
paid therefor by the transferor in money and/or the market
value of the rroperty other than money exchanged or agreed
to be exchanged by him for such interest".
usual and\ ^
v
necessary expenses, such as storage, insurance, «sd-
(c) Allowed expenses include "any
transportation .c/harges, but not interest, taxes, and
HSU
charges in the nature of overhead,
6 , Both parties to a transfer are responsible for affixing
stamps in the required amount,
excerpt
in case of transfers
Bi
TREASURY DEPARTMENT
WASHINGTON
y:
yo
*
Memorandum for the Pr e s s .
June 19, 1934
Regulations relating to the tax on transfers of interests
3
in silver bullion were issued today hy the Commissioner of
Internal /Revenue, fallowing approval
hy the President of the
Silver Purchase Act of 1934*
The tax section --- section 8 —
of the Silver Purchase
Act amendfa the Revenue Act of 1926 and the regulations are
issued under authority of the 1926 statute*
The regulations provide substantially as follows:
3e#
The tax applies to jsHtaHHPMMK
transfers of interests
in silver bullion if the price for which such intersst is or
is to be transferred exceeds the cost thereof and the allowed
expenses.
2* Transfers coming within the scope of the tax include
(a) those in the United States 5 and (b} those wholly effected
outside of the United States, if (1) either party to the
transfer is a resident of the United States, oj? (2)
either
partyjfto the transfer is a citizen of the United States who
|as been resident here at any time during the three months
immediately preceding the transfer, or (3) the silver bullion
or interest therein which is transferred is situated in the
United States at the time the transfer is made or agreed to
TREASURY DEPARTMENT
Washington
RELEASE TO MORNING PAPERS, JUNE 20, 1934;
hut only if the Silver Purchase Act shall
have been signed “
by the President.
Jime 19, 1934.
MEMORANDUM POR THE PRESS:
Regulations relating to the tax on transfers of interests in silver bul
lion were issued today, (June 19) hy the Conmissioner of Internal Revenue, fol
lowing approval by the President of the Silver Purchase Act of 1934.
The tax section — - section 8 — - of the Silver Purchase Act amends the
Revenue Act of 1926 and the regulations are issued under authority of the 1926
statute.
The regulations provide substantially as follows:
1.
The tax applies to transfers of interests in silver bullion if the
price for which such interest is or is to be transferred exceeds the cost
thereof and the allowed expenses.
2*
Transfers coming within the scope of the tax include (a) those in the
United States; and (b) those wholly effected outside of the United States, if
a ) either party to the transfer is a resident of the United States, or (2)
either party to the transfer is a citizen of the United States who has been
resident here at any time during the three months immediately preceding the
transfer, or (3) the silver bullion or interest therein which is transferred
is situated in the United States at the time the transfer is made or agreed
to be made.
3.
The tax applies to transfers made on or after May 15, 1934. Separate
(June 19)
regulations govern transfers completed prior to 9:00 p. m., /iyhen the Act was
signed, and those completed after that time.
-
4.
2
-
Tlie tax applies to transfers to the United States Government except
transfers by deposit or delivery at a United States mint (a) under the procla
mation of December 21, 1933, relating to the coinage of newly mined domestic
silver, or other like proclamation of the President, or (b) in compliance
with any Executive order which may bo issued pursuant to section 7 of the
Silver Purchase Act of 1934.
(Sec. 7 authorizes the President to require
the delivery of all silver to the mints.)
Transfers by the United States
Government are not taxable.
5*
The tax is fifty per cent of the amount by which the price for the
interest in silver bullion
transferred exceeds the total of the cost plus
the allowed expenses.
(a)
Price is defined as 11the amount of money and/or the market
value of the property other than money received or to be
received by the transferor,
directly or indirectly, in
consideration of the transfer"•
(b)
Cost is defined as "the amount paid or agreed to bo paid
therefor by the transferor
in money and/or the market
value of the property other than money exchanged or agreed
to be exchanged by him for such interest", except that
there are a number of particular situations governed by
special provisions.
(c)
Allowed expenses include
any usual and necessary ex
penses, such as storage, insurance, transportation and
processing charges, but not interest, taxes, and charges
in the nature of overhead.
6.
Both parties to a transfer are responsible for affixing stamps in
the required amount, except in case of transfers to the United States Govern
ment and in case of transfers made bofore 9:00 p.m., June 19, 1934, in which
cases the liability rests upon the transferor.
In any case the liability bf
the transferee ceases when stamps are cancelled by the collector.
7.
Persons who transferred interests in silver bullion between May 15,
1934 and the time of enactment of the Silver Purchase Act must file a return
on or before July 18, 1934, reporting the transfer.
8*
Persons who transfer interests in silver bullion after the time of
enactment of the Silver Purchase Act must deliver to the transferee a memo
randum, under oath,giving
the details of the transaction, which memorandum
must be transmitted to a collector of internal revenue.
If the transfer is
taxable, stamps must be affixed before delivery of the memorandum to the
transferee.
9.
The regulations provide for abatement or refund of taxes in certain
cases where the profit is (l) realized in the course of the transferors
regular business or furnishing silver bullion for industrial, professional or
artistic use, or (2) offset by losses incurred in silver foreign exchange
transactions hedged by the silver on which the profit is realized.
N. 33.
Documentary tax stamps to be affixed to silver purchase memoranda
have been supplied to the collectors of internal revenue.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
June 18, 1954,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December El, 1953)
^
Week ending June 15, 1954:
San Francisco....... .......... £03,528.56 fine ounces
5.462.00
H
*
Denver............ .
Total for the week:....... 206,790.56
"
"
(NOTE: Corrected figure on total receipts of silver through June 15: 8,115,000 fi®
ounces)
a
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ending
June
15, 1934:
Ph i l a d e l p h i a ...........
San Francisco ..........
Denver..................
New York................
Seattle.................
New Orleans.............
Total..............
New
_____ Imports___________ Secondary______Domestic
$
..... .
427,858.51
25,672.00
26,380,000.00
17.049.02
$26,850,579.33
$
401,109.84 $
220.85
127,678.79
940,986.19
74,252.00
519,329.00
761,300.00
18,700.00
37,575.28
21,262.8%
56.075.07
•••.••
$1,437,968.98
$1,500,498.92
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE:
(Under Secretary’s Order of December 28, 1953)
Received by Federal Reserve Banks:
Week ended June 13...........
Received previously..........
Total to June 13.........
Gold Cain
$
Gold Certificates
127,258.05
27.959.545.94
$28,066,605.99
$
818,410*00
58.796.600.00
$59,615,010.00
$
$
15,900.00
1.557.800.00
$1,575,700.00
^-'Received by Treasurer’s Office:
Week ended June 13...........
Received previously...........
Total to June 15...•••••..
NOTE:
$
.....
247.994.00
247,994.00
Gold bars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT^ ACCOUNTS*
No purchases for the week ended June 16, 1954.
treasury department
Washington
memorandum for the p r es s *
RECEIPTS o e s i l v e r b y THE MINTS:
*(Under Executive Order of December 21, 1933)
Week ending June 15, 1934: .
... 203,328.36 fine ounces
San Francisco«•••••••••*•••
3,462*00
w
"
Denver*•••••••.••*••«•'••••• ...
*
M
Total for the week:.*. ... 206,790.36
(NOTE: Corrected figure on total receipts of silver through
June 15: 8,115,000 fine ounces)
receipts o f gold by t h e mints
AND ASSAY OFFICES:
Week ending June 15, 1934:
t
Philadelphia*••••••••*..
San Francisco.•••••*•*. •
Denver.•••••••«•*.••«••*
New York......... ••••••
Seattle..........**«*#*«
New Orleans........*«**.
Total.•••••••...«•«
New
Secondary_____ Domestic
----
17,049.02
401,109.84
127,678.79
74,232.00
761,300.00
37,575.28
36,073.07
$26,850,579.33
$1,437,968.98
$
$
427,858.31
25,672.00
26,380,000.00
$
220.85
940,986.19
519,329.00
18,700.00
21,262.88
$1*500,498.92
LD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Gold Coin
Received by Federal Reserve Banks:
Week ended June 13.
Received previously••«••*.*.•«
Total to June 13....... .
Gold Certificates
$
127,258.05
27,939,343.94
$
818,410.00
58,796,600.00
$28,066,603.99
$59,615,010.00
Received by Treasurer’s Office:
Week ended June 13.••••••••**.
Received previously....«•*.*••
Total to June 13.....*•••
NOTES
$
$
247,994.00
247,994.00
15,900.00
1,557,800.00
$ 1,573,700.00
Gold tars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported.
HJRCHASES OF GOVERNMENT SECURITIES FOR INVESTMEHT ACCOUNTS:
No purchases for the week ended June 16* 1934«
TREASURY » B W !
WAmiNGTON
FOB REIXA3B, MOMXm PAFBRS,
Tuesday, June 19, 1934*
Pres* Service
"** *
Secretary of the Treasury Horsenthau announced today,
June 18, 1954, that the tenders for #75,000,000, or thereabouts,
of 182—day ’treasury bills, dated June 20 and maturing December 19,
1934, which were offered on June 15, were opened at the Federal
reserve banks on June 18, 1934*
The total amount applied for was #234,994,000, of which
#75,226,000 was accepted,
The accepted bids ranged in price from
99.976, equivalent to a rate of about 0.05 per cent per annum, to
99.956, equivalent to a rate of about 0.09 per cent per annum, on
a bank discount basis.
Only part of the amount bid for at the
latter price was accepted.
The average price of Treasury bills to
be issued is 99.963 and the average rate is about 0.07 per oent
per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- PAPERS,
Tuesday, Jirne 19, 1934.
Press Service
^°* 2 - 1
Secretary of the Treasury Morgenthau announced today,
June 18, 1934, that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury hills, dated June 20 and maturing December 19,
1934, which were offered on June 15, were opened at the Eederal
reserve banks on June 18, 1934.
The total amount applied for was $234,994,000, of which
$75,226,000 was accepted.
The accepted bids ranged in price from
99.976, equivalent to a rate of about 0.05 per cent per annum, to
99.956, equivalent to a rate of about 0.09 per cent per annum, on
a baric discount basis.
Only part of the amount bid for at the
latter price was accepted.
The average price of Treasury bills
to be issued is 99.963 and the average rate is about 0.07 per cent
per annum on a baric discount basis.
TREASURY DEPARTMENT
Washington
June 20, 1934
Dear Sir:
On June 5 I addressed a letter to all employees of the
United States Treasury Department for distribution through the
various bureaus and divisions, directing attention to the pro
visions of Federal law with respect to political activity by
Government employees and the solicitation of contributions for
political purposes. This letter was prompted by the discovery
that in more than one instance persons employed by the Treasury
Department had either violated the law in this respect, or had
committed acts which constituted gross impropriety in view of
their official positions. Disciplinary action in several of
such cases was found to be necessary.
Since distribution of this letter I have received inquiries
from several employees of bureaus and divisions of the Treasury
as to the legality and propriety of their continuing to hold of
fice in regular political party organizations. I have considered
this matter very carefully and I have come to the firm conviction
that no officer or employee of the Treasury Department ought to
continue to hold any political party office. It seems to me that
the holding of any such political party office is not compatible
with the public interest and will hamper the officer or employee
in the effective discharge of his Governmental duties.
I
wish, therefore, that you would send a circular letter to
all officers and employees serving under you in the Treasury De
partment requesting those who hold such political party offices
to submit their resignations from such offices, to be effective
not later than September 1, 1934, or, if they so elect, to submit
their resignations from office or employment in the Treasury De
partment, to be effective not later than the same date.
Sincerely yours,
Secretary
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS:
following is a copy of a letter sent to all heads of bureaus
and divisions in the Treasury Department:
’’June 20, 1934.
Dear Mr.
---
On June 5 I addressed a letter to all employees of the United States
Treasury Department for distribution through the various bureaus and
divisions, directing attention to the provisions of federal law with re
spect to political activity by Government employees and the solicitation
of contributions for political purposes.
This letter was prompted by the
discovery that in more than one instance persons employed by the Treasury
Department had either violated the law in this respect, or had committed
acts which constituted gross impropriety in view of their official posi
tions, Disciplinary action in several of such cases was found to be neces
sary.
Since distribution of this letter I have received inquiries from
several employees of bureaus and divisions of the Treasury as to the legal
ity and propriety of their continuing to hold office in regular political
party organizations.
I have considered this matter very carefully and I
have come to the firm conviction that no officer or employee of the Treasury
Department ought to continue to hold any political party office.
It seems
to me that the holding of any such political party office is not compatible
with the public interest and will hamper the officer or employee in the
effective discharge of his Governmental duties.
I
wish, therefore, that you would send a circular letter to all of
ficers and employees, serving under you in the Treasury Department requesting
those who hold such political party offices to submit their resignations
from such offices, to be effective not later than September 1, 1934, or, if
they so elect, to submit their resignations from office or employment in
the Treasury Department, to be effective not later than the same date.
Sincerely,
(Signed)
H.MOR&SNTHAU, Jr.
Secretary.”
- 2 '1
of
75
per cent is added to the amount owed.
&*4***t
^
iu
iA4>£4*
Distinguishing the fraudulent from the legitimate stock losses
is relatively simple,
ling to the Tax Unit.
the question of whether
'the purchaser had the amount necessary
..Whether the sale was actual or
to complete the purch*
pretended.
The test hinges on
/î,
ITo estimate can P^m'ade of t e amount coming in to the
Treasury through voluntary disclosures. It is known,however
/
that the number of such cases is substantial.
*
TREASURY DEPARTMENT
Washington
&
Release
Press Service
Ho. 2 - 9
June 22» 1954
Sine® July 1955, more than $2,500,000 has been salvaged
for the Treasury Department through collection of deficiency taxes
arising out of reporting of alleged losses through fictitious
sales of securities to members of the same family, or to close
business associates.
The Income Tax Unit of the Internal Revenue Bureau^haag*
p ^
^
as a result of investigations, spending before It 867 such cases,
involving $10,861,473.32, exclusive of interest and penalties, it
Last July the Income Tax Unit required ell brokers to file
information returns, Form 1100, as authorized by the Revenue Act
of 1952, Section 149.
More than five million records of individuals
trading activities have been submitted, with more to come.
for the years 1929, 1930, 1951 and 1932 were asked for.
Records
One
these have been investigated to date, the Tax Unit reports.
of
It is
confidently anticipated that an amount in excess of *oc /'rkr‘
be turned in to the Treasury as a result of these ii
Interest and penalties mav send the figure« still hij
In case of voluntary disclosure^ no penalty-/1
fraud is discovered to be present, a 50 per cent pei
Failure to report carries with it the usual 25 per cent penalty*
In case both fraud and failure to report are present, an asseMNNGQt
TREASURY DEPARTMENT
Washington
RELEASE, MORNING PAPERS
Juno 22T 1934
6-21-34
Press Service
No. 2 - 2
Since July 1933, more than $2,500,000 has heon salvaged for the Treasury De
partment through collection of deficiency taxes arising out of reporting of
alleged losses through fictitious sales of securities to members of the same
family, or to close business associates.
The Income Tax Unit of the Intèrna! Revenue Bureau as a result of investi
gation, has pending before it 867 such cases, involving $10,861,473.32, exclusive
of interest and penalties, it was announced today, June 21.
Last July the Income Tax Unit required all brokers to file information re
turns, Prom 1100, as authorized by the Revenue Act of 1932, Section 149.
More
than five million records of individual^’ trading activities have been submitted,
with more to come.
for.
Records for the years 1929, 1930, 1931, and 1932 were asked
One half of these have been investigated to date, the Tax Unit reports.
It is confidently anticipated that an amount in excess of $25,000,000 will be
turned in to the Treasury as a result of these investigations.
Interest and
penalties may send the figure still higher.
In case of voluntary disclosure before investigation no penalty other than
interest is charged, if the case is not too flagrant.
bo present, a 50 per cent penalty is attached.
the usual 25 per cent penalty.
If fraud is discovered to
Failure to report carries with it
In case both fraud and failure to report are
present, an assessment of 75 per cent is added to the amount owed.
In any case
interest is charged.
Distinguishing the fraudulent from the legitimate stock losses is relatively
simple, according to the Tax Unit.
The test hinges on the question of whether
in fact the purchaser had the amount necessary to complete the purchase or whether
the sale was actual or pretended.
No estimate can be made of the amount coming in to the Treasury through
voluntary disclosures. It is known, however, that the number of such cases is
substantial.
June 21, 1934«
Comparative statement of
fèipts, Obligations and Cost of collecting
eaeh §100»DO for the firs
Eleven months of the Fiscal Years 1953 and 1934
Fiseal Year 1934
Fiscal year
1933
Ilonths
Exclusive of
Processing Tax
July
* *
Almost
September
October * * * * * *
November«
• • * « « • «
#
•
•
• *
* «
• * 4
• « i
« • • • • « ,
* « * * ♦
«
•
January
February
uarch»« «
April*«
May*
.
•
.
• * 0 * * 4
•
.
• »
• • <
. * <
.
.
.
* « .
.
.
.
• «
<
* • * # * • • • # <
» ,
.
* *
.
Totals• • * * * * * *
Total
Collections
#31*686,468
79,940,310
216,481,287
89,849,896
85,484,477
210,995,058
86,804,918
90,715,109
242,464,384
89,062,188
114,754,133
#130,732,609
149.707.708
293,142,130
135,257,026
110.345.708
255,797,121
139,092,511
141,133,427
354,039,833
119,020,568
152,047,765
#131,115,697
163,157,602
318,985,678
164,148,138
135.706.923
302,431,513
182.404.924
174,035,835
390,352,847
153,563,796
194,293,593
#1,368,238,228
#1,980,316,396
12,309,996,546
■zriUÊdâaeJBaxm
The cost of collecting each "100 of tax dropped from
§1 »355 in the former period to $1,173 for thjs present,including
the processing tax. Excluding the processing-tax,the figure for the
last eleven months * 5 * M
*1.252.
/
These m , results vie re achieved by the Bureau is spite of
spirits
added duties,such as the collection of beer and 3sfcc^wr taxes,
and added excise and j3me£^ency taxes.
1
Comparative figures for the periods^follow:
PA a fti
/IM*
+W#****- y U 4V,J
¿/
S m m
j à l l m 1"»<.✓”/¥"-f\^ ^
r A ÀIA \4 >0
%+y
1U !»,
W t M ^ h^Arvsr^
-y^A. - 3 .
O* 1
Although almost a billion dollars more were collected by
the Internal Revenue Bureau in the first 11 months of the present
fiscal year than in the correspbj$Jing period last year,the cost
of collecting this money declined nearly one-third, the Treasury
Department revealed today.
Total collections of internal revenue from July 1,1933,
to M a y 31,1934
including the processing tax,amounted to $2,309,996,546.,as
/\
compared with
1,368,238,228 during the same period a year ago.
Deluding processing t a x e s ,collections for the eleven month^ws^
pe iod this year were 11,980,316,396.
so far
March led all months^this year in returns,with $390,352,847.
September,1933^was second with $318^985,678. The smallest collection
were in July, 1933,when Jf$131,115,697 were collected.
,
The total increase of 1934 over 1933 for the period,including
the processing tax^amounted to 1941,758,318. Rxcldding the
precessing tax,the increase was
"612,078,168.
On the other hand,the Bureau of Internal Revenue operated
/(|/<)
.
d u r i n g / p e r i o d on a sum ^f>2,901,708 less than for the same
months last year. During JfcSSB the period ending W
June 30,1933,
the obligations of the Bureau were 127,705,369. For the c u r r e n t
-»»fiscal period,only 124,803,661 has been found necessary. The
obligations incurred
processing tax amounted to
in collecting the
191
$2,302,i^# in addition. In
order to make the two periods comparative,Alcohol Tax Unit
obligations of $426,191 were eliminated from the present period
TREASURY DEPARTMENT
Washington
RELEASE MORMNG PAPERS,
Monday, June 25. 1934
(6-23-34)
Press Service
Ho. 2 - 3 .
Although almost a billion dollars more were collected by the Internal
Revenue Bureau in the first 11 months of the present fiscal year than in the
corresponoting period last year, the cost of collecting this money declined
nearly onc-third, the Treasury Department revealed today*
Total collections of internal revenue from July 1, 1933, to May 31, 1934,
including the processing tax, amounted to $2,309,996,546, as compared with
$1,368,238,228 during the same period a year ago*
Excluding processing taxes,
collections for the elevennuonth period this year were $1,980,316,396.
March led all months so far this year in returns, with $390,352,847*
September, 1933, was second with $318,985,678*
The smallest collections were
in July, 1933, when $131,115,697 were collected*
The total increase of 1934 over 1933 for the 11 months* period, including
the processing tax, amounted to $941,758,318*
Excluding the processing tax,
the increase was $612,078,168*
On the other hand, the Bureau of Internal Revenue operated during this
fiscal period on a sum $2,901,708 less than for the same months last year*
During the period ending June 30, 1933, the obligations of the Bureau were
$27,705,369*
necessary*
Eor the current fiscal period» only $24,803,661 has been found
The obligations incurred in collecting the processing tax
amounted to $2,302,191 in addition*
In order to make the two periods com
parative, Alcohol Tax Unit obligations of $426,191 were eliminated from the
present poriod*
- 2 The cost of collecting each $100 of tax dropped from $1,853 in the
former period to $1,173 for the present, including the processing tax*
Ex
cluding the processing tax, the figure for the last eleven months was $1*252*
These results were achieved by the Bureau in spite of added duties, such
as the collection of beer and spirits taxes, and added excise and emergency
taxos*
Comparative collection figures for the periods hy months follow:
Fiscal Year 1934
Fiscal year
1933
Months
Total
Collections
Exclusive of
j
Processing Tax
,1
•
* «1
. « w u m --».■ »
— *■ "*« -> - > U j "
r _.r
"
'
'
U' ' '
j
-Jl
J
"nr
r
July
August
September
October
November ....
December
January
February
March .......
April
May
* . • • • • • • • • • *
* « • * • • • • • •
« * • • • « *
* • • • * • • • •
*
.....
* * • • • • • •
•
•
•
•
. *
. , •
• • • • • • * *
...
•
«
*
•
•
•
•
.....
. . *
•
• • • • • « • • • • * • •
$
61,686,468
79,940,310
216,481,287
89,849,896
85,484,477
210,995,058
86,804,918
90,715,109
242,464,384
89,062,188
114,754,133
<
|
j
!
j
j
j
|
j
Totals
* • • • • • • *
$1,368,238,228 1
$
130,732,609
149,707,708
293,142,130
135,257,026
110,345,708
255,797,121
139,092,511
141,133,427
354,039,833
119,020,568
152,047,755
]
(
i
\
j
j
1
|
|
!
]
$
131,115,697
163,157,602
318,985,678
164,148,138
135,706,923
302,431,513
182,404,924
174,035,835
390,352,847
153,363,796
194,293,593
i
$1,980,316,396 3
$2,309,996,546
\|||g
^
Amplifying the statement eoBeerulAg the icaue of •
silver m rU ftcM tem , it mm pointed oat by tjreamy officiel«
that apparently am t
m l& tB beomam of a failure to
dÜUMbinptf&h between, on the os* haitëi§ the baaia on which.or the
ouneeage of silver against which silver certificate* Boy 'he
i&jmeâ and, a» the othar hand, the dollar amount of silver cer
tificates to b# issued#
4 $ to
the f i r s t nutter, :sli*, the ounemge of silver
that » a t be placed behind any given dollar- amount of silver
certifiâtes, it m s stated that silver certificates now or here
after issued » s t he secured 10QS with silver, in the fora of
coin or bullion, mined on the basin of tl*2§ an ounce*
Bllwr
certificates U r n bee» issued on this basis for over & half a
century*
Stating the matter another my , each dollar amount of
silver certificates has m d will hart® back of it either one
coined silver dollar or the amount of silver bullion necessary
to coin a dollar, te~«it 4li§ troy cu&eee of standard silver
or 37l| grains of fine silver*
As to the other matter, v ia* * the -dollar amount of
s ilv e r cor tifleatee to be issued, under the Silver tarqhM* Act
at 1SI4, the Secretary of the treasury Is required to is#ue
silver certificate-« of a dollar amount equal to the cost of the
silver porehaaed under Section I of tacit. Act*
Hiia Act, in
addition, authorises, but does not require, M m to go further
TREASURY DEPARTMENT
Washington
u w o m m m FOR THE PRESS
June 22, 1934,
Amplifying the statement concerning the issue of silver certificates,
it was pointed out "by Treasury officials that apparently some confusion exists
hecause of a failure to distinguish between, on the one hand, the basis on
which or the ounceage of silver against which silver certificates may be
issued and, on the other hand, the dollar amount of silver certificates to be
issued.
As to the first matter, viz,, the ounceage of silver that must be
placed behind any given dollar amount of silver certificates, it was stated
that silver certificates now or hereafter issued must be secured 100$ with
silver, in the form of coin or bullion, valued on the basis of $1.29 an ounce.
Silver certificates have been issued on this basis for over a half a century.
Stating the matter another way, each dollar ¿.mount of silver certificates has
and will have back: of it either one coined silver dollar or the amount of
silver bullion necessary to coin a dollar, to-wit 412g- grains of standard
silver or 37lJ grains of fine silver.
As to the other matter, viz.T the dollar amount of silver certificates
to be issued, under the Silver Purchase Act of 1934, the Secretary of the
Treasury is required to issue silver certificates of a dollar amount equal to
the cost of the silver purchased under Section 3 of such Act.
This Act, in
addition, *autnorizfel3 , but does not require, him to go further and issue a
«
*1 *
*
dollar amount of silver certificates equal to the monetary value of the silver
so purchased, which monetary value is fixed by law at $1.29 per ounce.
Thus
if a thousand ounces of silver is purchased at a cost of $450, the Treasury is
£§-9.)~.xr.eq to issue $450 in silver certificates, but may issue $1,290 in such
certificates.
TREASURY DEPARTMENT
Washington
June 25, 1924«
MEMORANDUM FOR THE PRESS:
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ending June 22, 1934:
Philadelphia...... ••
San Francisco........
Denvefj......... • ••••
Total for the week
275,423.75 fine ounces
2,628.30
»
"
102.480.00
»
"
380,532.05
"
»
Corrected figure on total receipts of silver through June 22: 8,495,000 fine ounc
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES s
Week ending June 22, 1934:
Philadelphia........
San Francisco......
Denver. •••••••.....
New York............
Seattle.............
New Orleans.........
Total.........
New
Domestic
Secondary
Imports
393.6
993,941.8
650,018.0
42,500.0
349,556.3
190.5
$2,036,600.3
284,999.37
123,246.53
116.514.00
763.650.00
23,660.11
25.705.88
.,337,775.89
$
----321,043.57
59,826.00
4,175,850.00
210.35
..........
$4,556,929.92
GOLD RECEIVED BY FEDERAL RESERVE RANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1933)
Gold Coin_______
Received by Federal Reserve Banks:
Week ended June 20..... ••••
Received previously..... .
Total to June 20......
$
52,507.58
28.066.603.99
$28,119,111.57
Gold Certifica
$
837,790.00
59.615.010.00
$60,452,800.00
Received by Treasurer’s Office:
Week ended June 20........ .
Received previously...... .
Total to June 20......
Note:
1
$
1,200.00
247.994.00
249,194.00
$
17,600.00
1.573,700.00
$ 1,591,300.00
Gold bars deposited with the New York Assay Office in the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
No purchases for the week ended June 23, 1934
TREASURY DEPARTMENT
WASHINGTON
Release, morning papers,
June 25. 1954._________
6-23-34.
Press Service
No. 2 - 4
Secretary of the Treasury Henry Morgenthau, Jr., and Postmaster
General James A» Farley today announced the selection and approval of
282 public buildin g projects to be paid for out of the $65,000,000
emergency construction fund authorized under the Emergency Appropriation
Act.
This Act was signed fcy the President, June 20, and is effective
for the fiscal year beginning July 1, 191^
In addition, the Secretary of the Treasury made public a list
of 324 other public building projects for which funds are already avail
able from other sources and on which work will be expedited.
The two
lists of projects will represent a combined expenditure of more than
» I
$1^0,000,000 scattered throughout all the States of the Union.
*n selecting the list of projects the Secretary of the Treasury
and the Postmaster General were guided by the wording of the Appropri—
ation Act which provides that "with the view to relieving country-wide
unemployment" they "shall endeavor to distribute the projects equitably
throughout the countiy so far as may be consistent with the needs of
the public service."
The acquisition of the necessary land and the prqaration of
plans and specifications will be taken in hand immediately with
view toward getting the contracts on the market and awarded within
the shortest practicable time.
Every effort will be made in the carrying through of this program
expeditiously
with a view to relieving unemployment throughout
the country*
Of the 282 projects,there are .174 small communities selected .
hich do not nave any Federal builiing at the present time,when
the average postal receipts last year amounted to approximately
•2
Preference is being given to those projects for which the
real
Government has previously acquired the necessary
estate for
building purposes, so that immediate start may be made in the
preparation of plans and specifications.
In all other cases
the real estate will be acquired as rapidly as possible.
The f o U ^ w i n ^ projects have been 1 ^ 1 ecited to date by the
Secretary of the^Jreasury and the Postmz^^terSGeneral under authority
of the E m e r g ^ ^ y Appropriation Act:
In selecting the new list of building projects the Secretary
of the Treasury and .the Postmaster General have given consideration
Hfo, 3 a j f
to the locations of projects Already authorized under other funds
rV
but which have not been placed under contract. These
will also be
placed^under contract as quickly as plans and specifications can be prepared.
ie following projects have been selected to date by the
Secretary of the Treasury and the Postmaster General under authority
of the Emergency Appropriation Act:
pick up List #1
Projects which have been authorized under other funds and which
will be placed under contract as p rapidly as plans and specifications
can be prepared are as follows:
pick up List #2
ADDITIONS TOLIST OP NEW PROJECTS TO BE RELEASED MONDAY
Illinois
Add
Gallarnet City
Post Office
Site and building
Peoria
Post Office & Court House
Not determined
Napanee
Post Office
Site and building
New Albany
P.0. & Ct. H.
Extension and remodeling
Osceola
Post Office
Site and building
DeRidder
Post Office
Site and building
Indiana
Add
Iowa
Add
Louisiana
Add
Michigan
Eliminate St. Joseph and substitute therefor Allegan
Allegan
Post Office
Indianala
Post Office
Site and building
Oxford
P.0. & Ct. H.
Extension and remodeling
Site and building
Mississiuui
Add
North Carolina
Add
Graham
Post Office
Site and building
Add
McConnellsville
Post Office
Site and "building
Ohio
o
—O—
Oklahoma
Add
Henrietta
Post Office
Site and building
Clarks Summit
Post Office
Site and "building
Selins Grove
Post Office
Site and building
McDonald
Post Office
Site and building
Ware Shoals
Post Office
Site and building
Wharton
Post Office
Site and building
iterion
Post Office
Site and buiIding
Pennsylvania
Add
South. Carolina
Add
Texas
Add
Virginia
Add
Staunton
-
Change project from site and building to building
on present site
Washington
Add
Prosser
Post Office
Site and building
Eichwood.
Post Office
Site and building
Ladysmith
Post Office
Site and building
West Virginia
Add
Wisconsin
Add
Approved:
C.T. Peoples,
Director of Procurement
S, W. Purdum
Fourth Asst. Postmaster General
PAGE k
Dist.
State
$0.
10
(cont)
11
Gals, of Gals. of
Spirits Mash
Ant os Trucks
Stills
„-SeizedSeized. -Capacity- Seized-. ■Seized—
N.Mex
4
100
7
260
1
TOTAL
11
378
101
1,785
1
599
39,900
Value of
Property
Sei.z.e.d._
Vain® of
Property
Dss.t.dpyM
Arrests
$140.
$A05.
1
$620.
85.
14
«
1
$16,375.
1400.
6
i
W>
!.
Cal.
Î
Nev.
12
nat/ ^
repbyted
TOTAL
3
Wash.
3
150
179
4,297
2
•»
$927.
$709.
4
Ore:
3
39
68
1,100
4
••
$577.
$29.
8
Idaho
5
246
31
4,015
1
-
$464.
1149.
15
"TOTAL
11
435
278
9,412
7
$1,968.
887.
27
TOTAL
2:78
18,628
407,204
75
3 ’boat!
6 trks *103,306.
$431642.
502
Mont.
GRAND
N.Y
N.jr,
40,856
1tve, capacity of sti 11s for e itire Uni ted Stai ;es 147 0 CL. I
1 unii ce nsed rectifying ;>lant sei2 ed in a private <[welling a'\ Elmhurst, N.Y.
75 ggil. champagne, 50 gsil. alcohol - and 139 gal. assorted i¡whiskies,
1 sti] 1, daily Capacity 2200 - in iactory 1roilding - 1055 Stilite St* Pe^ •th Amboy, N.J.
!
{- #
i
I'
Ü
PAGE 3
PAGE 2
Gals. of Gals of
[Spirits Mash
Stills
i
Se.iz.ed.. Seized
.Capacity..
Seized..
.
.
.
.
.
State...
.
Dist
.
TVT/^
..............J M .Q ..A ..........
k
(cont)
5
6
________
D.C.
f
_
.
fVal-ae of |Value of
Trucks|Property 1Property
Autos
.Seized.. Seized!Seized.. ] Destroyed Arrests
]
184
mm
4
1TOTAL
36
1,880 |
1,221
39,088
10
Ga.
1,590 i: 1,606
33,300
3
Fla.
21
—
17
Ala.
1,475 I
45
9,765
mm
22
12,250 1
509
8,700
6
Kiss
8
765
: 5 85
3,600
La.
5
180 1
94
1,660
1
Tex.
11
475 |
273
2,278
5
TOTAL
84
16,735 |
2,612
59,303
15
375 f
268
5,495
Mich.
63
Ohio
4
|
$625j
1 boat J
$7,36(j
$4,792
66
j
$3,428«
$2,628.
31
1 boat |
$2,089*
$1,989.
3
$2 921
$2,071.
32
-
2
•
$830.
$755.
9
j
$401.
$366.
14
- | $1,099.
2 trucks .
2 boats! $10,768.
$784.
47
$8,593.
136
$907.
8
-
- j
« .
1,040
762 |
3
$1,685«
$1,135.
15
[,
$2,675.
$1,485.
14
- I1
j
$19,560
$17,785.
113
$1,025.
6
35,030
mm
- [ $14,258.
383
7,190
2
«*
-
Term
12
1,890
243
13,570
4
TOTAL
36
4,067
1,947
61,285
6
j,
1,410
$14,258.
1,075
14
5
5,433
6,780
1
|
—
—
Ill,
252
20,720
3
$2,27£ i
i
■
[
995
----------------------- . 1
~ j
r
!
10
$942.
---------------------------------------------- ;----------- —
Ky.
Wis.
•
13
1 boat 1
,
7
,
mm
1
-
1
$1,65C i
$650
21
»'
j
-------------------------------------------
ACTIVITIES OF KEGttlATIVE INSPECTORS
COMPILED FROM
Form L - 191.
j;Gals. of Oats. of
¡Spirits •
,Mash
Dist
Stills ]
Seized
No. \State } Seized 1 CapacityiSeized
Week ending June 16, 1934.
i
\Value of • Valde of j
Autos 1Trucks |Property j Property j
Destroyed Arrests 1
Seized !Seized | Seized
*
j 1
/ 2 L
$385]
/- 1
3 (
s
S
1
In . h .
1Vt
|
a®
!Maine
« .
f
891
‘
l!
!
|
.
.
6501
[Mass.
2 f
400
jConn.
2 1
800
IE. I. 1
1 |
100
75 j
500
I TOTAL |
5 |
1300
l,0 9 0 j
19,200
4)
2
1 N. Y. 1
17*1
5,759
1*6891
92*500
ft
3
! Pa.
1
$■ 2 i
587
7151
13,731
«■»
I n. j . 1
3 I
3*300
661|
10,000
ll
1 Del.
mm
1
3.700
mm
!
2
2001 15,000
-1
\
mm
mm
\
1
mm-
• 1
1
1
mm
mm
-
J
’ j
$3,100*
l
/
1_____ m_i_____________
I
\ - i
1 1
$1,015]
j- I
mm
mm
5 j
$5,0001
- f
1 1
$iooi
* |
Si
$ 9 ,6 0 0 l
~ 1
13 1
$ 1 6 ,5 8 l|
$ 1 ,9 2 4 *|
181
$4,7691
$ 2 ,1 2 5 *!
1 3I
$ l,2 5 0 l
$ 8 0 0 .|
io |
:
1
3,887 |
1,3761
23,731
ll
I
$6.0191
\
i
$ 2 .9 2 5
A « ?
Md.
7 j
885 1
478)
10*305
3 rl^ 5 g g t
$3,3071*
$1,967.1
20!
1 Va.
3 |
150 I
35;
5 ,8 0 0
1 W. VaJ
j
' :
6 1
1101
16 3j
590
1
! N.Carj
| S.Car .1
16 1
735!
67|
12.693
| not
....r.Jr.epar.ted.j. .........„„.294L _..„J».7P0
a
* 1 unlicensed rectifying plant.
—i
m»\
ll
... 2]...,........
&
m
$3861
S
$3031»
$ l t 530l
.
,
!
\
/$ 3 8 6 .1
(
j
^$303. |
$ l,4 fl0 .i
$1*215 V.......$666. J
1 5 illicit breweries.
'"-nr
I
15 |
i TOTAL. [t
k
MB
751
-!
mm
1
1
2!
161
| ■61_________
1
[
------!
:,~.9l.............................j.,...... ...........
------------------------------
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE
June 25, 1934
Press Service
No. 2 - 5
ACTIVITIES OF REGULATIVE INSPECTORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING JUNE 16, 1934.
(Corrected statement based on complete weekly reports
of supervisors.)
Dist.
No,
States
Stills
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
$385
3
1
2
3,100
1,015
5,000
100
1
5
1
3
19,200
5
$9,600
13
1,689
92,500
6
$16,581
18
587
3,300
715
661
13,731
10,000
1
$ 4,769
1,250
13
10
15
3,887
1,376
23,731
1
$ 6,019
23
Md.
Va.
W. Va.
N.Car.
S.Car.
D.C.
7
3
6
16
4
885
150
no
735
478
35
163
67
294
184
10,305
5,800
590
12,693
9,700
3
1
2
4
$ 3,307
386
303
1,530
1,215
625
20
2
16
6
9
13
TOTAL
36
1,880
1,221
39,088
,10
$ 7,366
66
21
17
22
8
5
11
1,590
1,475
12,250
765
180
475
1,606
45
509
85
94
273
33,300
9,765
8,700
3,600
1,660
2,278
5
Fla.
Ala«
Miss.
La.
Tex.
1
5
$ 3,428
2,089
2,921
830
401
$ 1,099
31
3
32
9
14
47
TOTAL
84
16,735
2,612
59,303
17
$10,768
136
2
2
1
TOTAL
2
3
4
Gals. of
Spirits
Seized
2
Maine
N. H.
vt.
Mass.
Conn.
R. I.
1
Capacity
400
800
100
89
1
650
75
200
75
3,700
15,000
500
5
1,300
1,090
N. Y.
17
5,759
Pa.
N. J.
Del.
12
3
TOTAL
5
6
Diet,
No,
1
6
7
8
9
10
11
States
Stills
Seized
Capacity
Cals, of
Spirit s
Seized
Cals, of
Mash
Seized
Antos &
Trucks
Seized
Value of
Property
Arrests
Seized
2
4
$ 942
14,258
1,685
2,675
3
15
14
61.285
6
$19,560
113
5,433
252
117
6,780
20,720
1,525
1
3
$ 2,275
1,650
175
6
21
6
2,995
5,802
29,025
4
$ 4,100
33
5,400
16,500
75
$ 1,645
1,605
85
2
10
18
12
9
$ 4,378
51
$
7
24
36
8
Mich,
Ohio
Ky.
Tenn.
6
4
14
12
375
1,040
762
1,890
268
1,075
388
243
5,495
35,030
7,190
13,570
TOTAL
36
4,067
1.947
Wis.
111.
Ind.
5
10
8
1,410
995
590
TOTAL
23
8
N. D.
S. D.
Minn.
Neb.
Iowa
4
1
1
705
50
4
167
230
176
361
TOTAL,
6
755
938
21,975
11
Kan,
OkLa.
Mo.
Irk.
11
5
11
4
740
32
195
671
77
1,950
2,450
3,900
1,700
6
6
2
TOTAL
31
2,655
975
10,000
14
Wyo.
Utah
Colo.
Ariz.
N.Mex.
1
3
3
4
40
118
120
100
18
2
19
55
7
200
575
750
260
1
140
1
3
2
5
3
TOTAL
11
378
101
1.785
2
620
14
1,915
3
4
4
1
538
2,600
2,093.
740
$5,971
$
475
5
75
Cal. 'j
Nev. j
3
.599
39,900
1
$16,375
6
TOTAL
3
599
39,900
1
$16,375
6
Wash.
Ore.
Mont.
Idaho
3
3
150
39
179
68
4,297
1,100
2
4
$
93?
577
4
8
5
246
31
4,015
1
464
15
TOTAL
11
435
278
9,412
7
$ 1,968
27
CRAND TOTAL
278
40,856
18,628
407,204
81
$103,306
12
502
TOm&mr w m m ï
washihotok
mn KFIEáSS, M S S ® PAFSHS,
***?*
Tuesday, June 26, IfSê,
--- & —
* ---
Secretary of the Treasury Morgenthau announced today,
Jaa® 85, 1934, that the tendera for #75,000,000, or thereabouts,
of 188-day Treasury bills, dated June 87 aad »»taring December 85
1934, vtîot were offered on Jane 2®,
opened at the Federal
reserve banks on Jan© 25, 1934*
Tbe total amount applied for was #251,941,030, of
wfciok #73,353,000 was accepted.
The accepted bids ranged In
prise frei» 99#976, equivalent to a rate of about 0*6® per eeat
per annuii, to 99.958, equivalent to a rate of about 0.08 per
üent per annum, on a bank discount baels.
amount bid
for at
Only part of the
the latter price was accepted.
The
average
price of Treasury bills to be issued le 99.966 and the average
rate Is about 0.07 per cent per annua on a bank discount basis.
TREASURY DEPARTMENT
Washington
EOE RELEASE, MORHIH& PAPERS,
Tuesday, June 26, 1934,
Press Service
Ho, 2 - 6
Secretary of the Treasury Morgenthau announced today,
June 25, 1934, that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated June 27 and maturing December 26
1934, which were offered on June 22, were opened at the Federal
reserve banks on June 25, 1934,
The total amount applied for was $251,941,000, of
which $75,353,000 was accepted.
The accepted bids ranged in
price from 99,976, equivalent to a rate of about 0,05 per cent
per annum, to 99,958, equivalent to a rate of about 0,08 per
cent per annum, on a bank discount basis.
Only part of the
amount bid for at the latter price was accepted.
The average
price of Treasury bills to be issued is 99,,966 and the average
rate is about 0,07 per cent per annum on a bank discount basis.
MONETARY and BANKING SURVEY
-h
iti.t I I i i i t i . 1.i » ...4 > * 1. j—
1 t— t,..l I
Lauchlin Currie,
Instructor of Economics,
Harvard University,
Cambridge, Massachusetts.
also Professor of International Economics at the Fletcher
School of Law.
Author1 The Supply and Control of Money, 1934.
Harry D. White,
Professor of Economics,
Lawrence College,
Appleton, Wisconsin.
Author: French International Accounts, 1933.
Albert G. Hart,
Instructor in Economics,
University of Chicago,
Chicago, Illinois.
Benjamin Capian,
Candidate for Ph. D.
University of Chicago,
Chicago, Illinois.
Virginiis F. Coe,
Brookings Institution, Washington, D.C.,
Lecturer in Economics, University of Toronto, Toronto, Canada,
next year.
Edward C. Simmons,
Brookings Institution, Washington, D.C., and
Ohio State University, Columbus, Ohio.
Joint Research
F ellow.
Ill
I
H
F. & R.
Henry F. Walradt,
Professor of E<giomics,
Ohio State University,
Columbus, Ohio,
Pubs: Joint author (with Prof. Fairchild of Tale) Taxation
System in Connecticut; joint author and editor (with
Mudgett of Minnesota) of The Report of the War Trade
Board; winner of the Sixth Simmons Economic Prize
Essay Contest with ”lho Ultimately Pay the Taxes?”;
financial History of Connecticut, 1789 - 1861.
( Williamson^ K. jjU_3
Professor 6f Economics,
Wesleyan College,
Middletown, Connecticut.
Pubs: articles on taxation in scientific journals.
Richard A. Lester,
Princeton University,
Princeton, N.J.
FINANCIAL and REVENUE SURVEY
Carl Shoup,
Assistant Professor of Business Administration,
Columbia University,
Hew York City,
Pubs: The Sales Tax in France; (joint author) A Report on
the Revenue System of Cuba; The Sales Tax in the American
States,
Editor, Bulletin of National Tax Association.
Roy G. Blakey,
Professor cf Economics,
University of Minnesota,
Minneapolis, Minnesota.
Pubs: Taxation of Minnesota; Taxation of West Virginia;
National Tax Association Digest and Index; United States
Beet Sugar Industry and the Tafiff; Export Trade Policy
of the United Kingdom (for the U.S. War Trade Board);
member of the Minnesota State Planning Board, Adviser to
the Governor (of Minnesota) on Taxation; member of the
Trade Department in 1919.
Malcolm Bryan,
Associate Professor of Economics,
University of Georgia,
Athens, Georgia.
Pubs: Fiscal Position of Georgia; Financial History of
Georgia;
Editor, Southern Economic Journal.
Reavis Cox,
Instructor in Business Administration,
Columbia University,
New York City.
Pubs5 Competition in the American Tobacco Industry;
staff associate, The Sales Tax in the American States;
Managing Editor, Ihe American Marketing Journal.
Louis Shere,
Officer of Instruction in the Extension Department,
Columbia University,
New York City.
Pubs: A Statistical Approach to Certain New York State
Tax Problems; staff associate, The Sales Tax in the
American States.
^*v-*
h
\J^$0
J
r
Po^J>A| ^
jP $&■
* JL* J ■#*>\
ym*m^*~*~*.-*Y g"*f~ m~<\ ~ \mJ
r
^
W
1A~J*
<*- fe
^
< g - M—
^
^ £
£ a --*m i^
A y \Z \^ p j*L g m
—
J^^>«A|~*|..
S|E^e Treasury Department is undertaking this summer a number
of studies of its activities in preparation for next year’s
legislative program.
Included in these studies is one on
Currency and Banking, and another on Taxation and Revenue.
/These two studies are being conducted under the direction of Dr.
I
"
i
\
Jacob Viner, Special Assistant otj the Secretary.
In addition
to the regular staff of the Treasury, a small group of men have
been brought in for the summer quart*» to work on these studies
in the Treasury, and experts outside the Treasury are being reques
ted to submit memoranda on special points.
The Currency and Banking Study Group is surveying
t&A*
currency and credit situation in the United States, including the
question of monetary standards, the various types of currency,
the various types of credit institutions in the country, their
inter-relationships and the existing methods of regulation and
control thereof, and the relation of credit and currency policy
to business stability and maintenance of steady employment.
The Revenue and Taxation Stucfor Group is studying our Federal
tax system with special reference to need for administrative
revision and simplification, to the distribution of tax burdens,
to the relationship between the Federal and the state and local
revenue systems, and to the possibility of making use of revenue
provisions as a business stabilizing device.
•t/\JLA..2rP
U/^
m m m
{ S C X a-w
T
TREASURY DEPARTMENT
Washington
RELEASE, MORNING PAPERS
Wednesday, June 27, 1934
6-26-34
Press Service
^ ~ ^
Secretary Morgenthaa announced today that the Treasury Department is
undertalcing this summer a number of studies of its activities in preparation
for next year’s legislative program.
Included in these studies is one on
Currency and Banking, and another on Taxation and Revenue.
These two studies are being conducted under the direction of Dr, Jacob
Viner, Special Assistant to the Secretary.
In addition to the regular staff
of the Treasury, a small group of men have been brought in for the summer to
work on these studies in the Treasury, and experts outside the Treasury are
being requested to submit memoranda on special points.
The Currency and Banking Study Group is surveying the currency and
credit situation in the United States, including the question of monetary
standards, the various types of currency, the various types of credit insti
tutions in the country, their inter-relationships and the existing methods
of regulation and control thereof, and the relation of credit and currency
policy to business stability and maintenance of steady employment.
The Revenue and Taxation Study Group is studying the Federal tax system
with special reference to need for administrative revision and simplification,
to the distribution of tax burdens, to the relationship between the Federal
and the state and local revenue systems, and to the possibility of making
use of revenue provisions as a business stabilizing device.
Following is a list of persons temporarily employed in the Treasury to
assist in these studies:
FIDARCIAl and REVENUE SURVEY
Carl Shoup,
Assistant Professor of Business Administration,
Columbia University,
Hew York City.
Pubs: The Sales Tax in Prance; (joint author) A Report on
the Revenue System of Cuba; The Sales Tax in the .American
States.
Editor, Bulletin of Rational Tax Association.
Roy G. Biakey,
Professor of Economics,
University of Minnesota,
Minneapolis, Minnesota.
Pubs: Taxation of Minnesota; Taxation of lest Virginia;
Rational Tax Association Digest and Index; United States
Beet Sugar Industry and the Tariff; Export Trade Policy
of the United Kingdom (for the U.S. War Trade Board);
member of the Minnesota State Planning Board, Adviser to
the Governor ( of Minnesota) on Taxation; member of the
Trade Department in 1919.
Malcolm Bryan,
Associate professor of Economics,
University of Georgia,
Athens, Georgia.
Pubs: Fiscal Position of Georgia; Financial History of
Georgia; Editor, Southern Economic Journal.
Reavis Cox,
Instructor in Business Administration,
Columbia University,
Hew York City.
Pubs: Competition in the American Tobacco Industry;
staff associate, the Sales Tax in the American States;
Managing Editor, the American Marketing Journal.
Louis Shore,
Officer of Instruction in the Extension Department,
Columbia University,
Hew York City.
Pubs: A Statistical Approach to Certain Hew York State
Tax Problems; staff associate, The Sales Tax in the
American States.
- 3 -
Henry F. Walradt,
Professor of Economics,
Ohio State University,
Columbus, Ohio.
Puhs: Joint author (with Prof. Fairchild of Yale) Taxation
System in Connecticut; joint author and editor (with
Mudgett of Minnesota) of the Eeport of the War Trade
Board; winner of the Sixth Simmons Economic Prize
Essay Contest with “Who Ultimately Pay the Taxes?H;
Financial History of Connecticut, 1789 - 1861,
K. M. Williamson,
Professor of Economics,
Wesleyan College,
Middletown, Connecticut.
Pahs: articles on taxation in scientific journals.
Kichard A. Lester,
Princeton University,
Princeton, H.J.
MONETARY and BANKING SURVET
Lauchlin Currie
Instructor of Economics,
Harvard University, •
Cambridge, Massachusetts.
also Professor of International Economics at the Fletcher
School of Law.
Author: The Supply and Control of Money, 1934
Harry D. White,
Professor of Economics,
Lawrence College,
Appleton, Wisconsin.
Author: French International Accounts, 1933.
Albert G. Hart,
Instructor in Economics,
University of Chicago,
Chicago, Illinois,
Benjamin Caplan,
Candidate for Ph. D.
University of Chicago,
Chicago, Illinois.
Virginius F. Coe,
Brookings Institution, Washington, D. C,,
Lecturer in Economics, University of Toronto, Toronto, Canada,
next year.
Edward C. Simmons,
Brookings Institution, Washington, D.C., and
Ohio State University, Columbus, Ohio.
Joint,Research
Fellow.
I
When a broker before September 1, 1934 liquidates a long
interest in silver bullion for a customer outside the United
States, if it is impossible to obtain the memorandum sworn to
by the owner before the date required by Regulations 85 for
delivery or filing thereof, the broker shall prepare a memorandum
on behalf of the owner from cabled or other information and swear
to it on information and belief* Stamps in the amount of tax, if
any, shown to be due shall be affixed to this memorandum, except
as stated below. This memorandum shall be substantiated by a
statement sworn to by the owner, to be filed as early as practicable
with the Collector*
Brokers holding long positions for owners outside the United
States should immediately procure sworn statements covering facts
which must be shown upon liquidation of such interests and which
&re not within the broker1s knowledge, since in the case of liqui
dations on and after September 1, 1934, all memoranda verified
on information and belief must be accompanied by sworn supporting
data*
#■
Brokers in the United States should obtain from customers
outside of the United States authorizations for purchase and affix
ing of stamps, and shall be responsible for the delivery of
properly stamped memoranda. A broker shall not execute any transfer
for a customer outside of the United States in the absence of such
authorization, except that a broker may liquidate a long position
standing on his books on or before June 28, 1934, without such
authorization and may deliver the memorandum without stamps affixed,
on condition that he shall make every reasonable effort to obtain
from the customer authority for the purchase of stamps to be
affixed as soon as possible to the memorandum, and shall not remit
any balance to such customer until he has obtained such authority,
and shall in determining margin or similar requirements treat as
a liability of the customer any unpaid amount of the tax, computed
on such information as is available to the broker.
GCjAWW
June 26, 1934.
MEMORANDUM TO MR. H. E. GASTON,
Assistant to the Secretary.
The attached ruling concerning the preparation of
memoranda required by the tax provisions of the Silver
Purchase Act of 1934, appears to he of sufficiently general
interest to warrant its being given to_the Press.^ The
ruling was issued today.
Assistant General Counsel
fot the
Bureau of Internal Revenue.
Enel. No. 1525
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
June 27, 1934
Press Service
No. * - 8
Commissioner of Internal Revenae Guy T. Helvering today issued
the following ruling which is supplementary to regulations (Regu
lations No. 85) recently issued governing the tax on silver:
When a broker before September 1, 1934 liquidates a long
interest in silver bullion for a customer outside the United
States, if it is impossible to obtain the memorandum sworn to
by the owner before the date required by Regulations 85 for
delivery or filing thereof, the broker shall prepare a memorandum
on behalf of the owner from cabled or other information and swear
to it on information and belief. Stamps in the amount of tax, if
any, shown to be due shall be affixed to this memorandum, except
as stated below. This memorandum shall be substantiated by a
statement sworn to by the owner, to be filed as early as practicable
with the Collector.
Brokers holding long positions for owners outside the United
States should immediately procure sworn statements covering facts
which must be shown upon liquidation of such interests and which
are not within the broker*s knowledge, since in the case of liquidatipns on and after September 1, 1934, all memoranda verified
on information and belief must be accompanied by sworn supporting
data,
Brokers in the United States should obtain from customers
outside of the United States authorizations for purchase and affix
ing of stamps, and shall be responsible for the delivery of
properly stamped memoranda. A broker shall not execute any transfer
for a customer outside of the United States in the absence of such
authorization, except that a broker may liquidate a long position
standing on his books on or before June 28, 1934, without such
authorization and may deliver the memorandum without stamps affixed,
on condition that he shall make every reasonable effort to obtain
from the customer authority for the purchase of stamps to be
affixed as soon as possible to the memorandum, and shall not remit
any balance to such customer until he has obtained such authority,
and shall in determining margin or similar requirements treat as
a liability of the customer any unpaid amount of the tax, computed
on such information as is available to the broker.
«Stoft «HfcrfUfc-.-*W W A 1
Washington
"Kj Ö
"¿*
flntri ftjfttoiiffir Belveriag annouacdd today that a public hearing
the question of regulations gasoc with reference to the control
of containers for distilled spirits «ill be hold in the offices
*1
¡¡1|
of latemal Revenue on Friday, Jose 2§f 19M, at 9 a*m*# ehem all
iijpersons interested «ill have an opportunity to be heard*
The proposed regulations are to be issued under authority
of House Joint Resolution No. 370, approved June 18, 1934.'
Special notifications inviting attendance tavof representatives
have been sent to organizations of distillers, rectifiers, importers
and wholesalers of distilled spirits, glass container manufacturers,
the American Hotel Association, the National Association of
Waste
Material Dealers and the National Bottle Jobbers1 Association!.
It is expected that other organizations and individuals
will be represented.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
June 27, 1934
Press Service
No, 2 - 9
Commissioner Helvering announced today that a public hearing
on the question of regulations with reference to the control of
containers for distilled spirits will be held in the offices of
the Bureau of Internal Revenue on Friday, June 29, 1934, at 9 a.m,,
when all persons interested will have an opportunity to be heard.
The proposed regulations are to be issued under authority of
House Joint Resolution No, 370, approved June 18, 1934,
Special notifications inviting attendance of representatives
have been sent to organizations of distillers, rectifiers, import
ers and wholesalers of distilled spirits, glass container manu
facturers, the American Hotel Association, the National Association
of Waste Material Dealers and the National Bottle Jobbers1 Associ
ation,
It is expected that other organizations and individuals will
be represented,
V
TREASURY DEPARTMENT
WASHINGTON
EOR IMMEDIATE RELEASE.
Jane 28, 1934.
Press Service
Ho. 2 - 1 0
The Secretary of the Treasury, with the approval of the
President, tonight (June 28) issued an order forbidding the further
export of silver except under license.
Exceptions are made in the
case of fabricated silver, ore and metals containing silver in
relatively small amounts and foreign silver coins.
The text of tho order follows:
ORDER OF THE SECRETARY OF THE TREASURY
Relating to Silver
WHEREAS, Section 6 of the Silver Purchase Act of 1934 provides
as follows:
"Sec. 6, Whenever in his judgment such action
is necessary to effectuate the policy of this Act,
the Secretary of the Treasury is authorized, with
the approval of the President, to investigate, regu
late, or prohibit, by means of licenses or otherwise,
the acquisition, importation, exportation, or trans
portation of silver and of contracts and other
arrangements made with respect thereto; and to require
the filing of reports deemed by him reasonably neces
sary in connection therewith. Whoever willfully
violates the provisions of any license, order, rule,
or regulation issued pursuant to the authorization
contained in this section shall, upon conviction,
be fined not more than $10,000 or, if a natural
person, may be imprisoned for not more than ten years,
or both; and any officer, director, or agent of any
corporation who knowingly participates in such viola
tion may be punished by a like fine, imprisonment, or
both."
WHEREAS, in my judgment, such action is necessary to effectuate
the policy of said Silver Purchase Act of 1934;
NOW, THEREFORE, I, HENRY MORGMTHAU, JR., Secretary of the
Treasury, do hereby prescribe the following provisions for the investi
gation, regulation, and prohibition of tho acquisition, importation,
exportation, or transportation of silver and of contracts and arrange
ments made with respect thereto, and requirements concerning tho
filing of reports deemed by the Secretary of the Treasury reasonably
necessary in connection therewith.
Section 1.
Def initions «— As used in this Order the tern "person"
means an individual, partnership, association, or corporation; and
the term "continental United States" means the States of the United
States, the District of Columbia, and the Territory of Alaska.
-
Section 2,
2
-
Exportation or transportation from the continental
United States.— Except as otherwise specifically provided in Sections 4,
5, and 6 hereof, no person shall export or transport from the con
tinental United States, any silver except under license issued pur
suant to Section 3 of this Order.
Section 3.
Licenses.— The Secretary of the Treasury, subject
to such regulations as he may prescribe, acting directly or through
such agency or agencies as he may designate, may issue licenses
authorizing the exportation or transportation from the continental
United States of silver which the Secretary of the Treasury, or the
designated agency, is satisfied:a.
is required to fulfill an obligation to deliver such silver
outside of the continental United States, incurred or assumed by the
applicant on or before the date of this Order;
b.
has been owned on and continuously after the date of this
Order by a recognized foreign government, foreign central bank:, or
the Bank for International Settlements;
c.
was imported for prompt reexport, or was imported in silver
bearing materials under an agreement to refine such materials and
export the silver so refined;
d.
is of a fineness of .8 or less; or
e.
with the approval of the President, for other purposes not
inconsistent with the purposes of the Silver Purchase Act of 1934.
Section 4.
Fabricated silver.— Silver contained in articles
fabricated and held in good faith for a specific and customary
use and not for their value as silver bullion may be exported, or
transported from the continental United States, without the necessity
- 3-
of obtaining a license: Provided, That a statement containing such
information as may be required by the Secretary of the Treasury shall
have been executed, sworn to, and filed in duplicate with the collector
of customs at the port of shipment from the continental United States
or with the postmaster at the place of mailing; and such collector or
postmaster shall have endorsed on the duplicate copy of such affidavit
that ho is satisfied that the shipment from the continental United
States is not being made for the purpose of holding or disposing of
such articles outside of the continental United States primarily for
their silver content:
Provided. That persons leaving the continental
United States may carry with than such articles owned by them and for
their personal use in their fabricated form, of a fine silver content
not exceeding 100 troy ounces without the necessity of filing such
affidavit or obtaining an export license under this Order.
Section 5.
Metals containing silver.— Metals containing not more
than 50 troy ounces of fine silver per short ton may be exported or
transported from the continental United States without the necessity
of obtaining a license under this Order:
Provided, That the collector
of customs at the port of export or the postmaster at the place of
mailing may require the furnishing of such evidence and the execution
of such affidavits as are necessary to satisfy him as to the silver
content of the metals.
Section 6.
Silver coin.— Silver coins may be exported or trans
ported from the continental United States without the necessity of
obtaining a license under this Order.
- 4 Section 7.
Collectors of Customs and postmasters«— At the time
any license is issued under Section 3, the issuing agency shall
transmit a copy thoroof to the collector of customs at the port of
export designated in the license.
The collector of customs shall not
permit the exportation or transportation from the continental United
States of silver in any form except upon surrender of a license issued
under Section 3, a copy of which has been received by him from the
agency authorized to issue such license!
Provided, That a license
under this Order shall not be required to export or transport from
the United States silver described in Sections 4, 5, and 6, if the
provisions of such sections respectively are complied with.
In the
event that the shipment is to be made by mail, a copy of the license
shall be sent to the postmaster of the post office designated in the
application, who will act under the instructions of the Postmaster
General in regard thereto.
Section 8.
Exports prohibited by other orders, etc.— The pro
visions of Sections 3, 4, 5, and 6 shall not be construed to authorize
any exportation or transportation from the continental United States
prohibited by any other Order or by any law, ruling, or regulation*
Section 9.
Reports.— The Secretary of the Treasury shall require
the filing of such reports, in such mannor, at such times, and con
taining such information, as is deemed by him reasonably necessary
in connection with the investigation, regulation, or prohibition of
acquisitions, importations, exportations, or transportations of
silver and of contracts and arrangements made with respect thereto.
- 5 -
Section 10*
Regulations.——The Secretary of the Treasury is
hereby authorized, and empowered to issue such regulations as he may
deem necessary to carry out tho purposes hereof*
Licenses and per
mits granted in accordance with the provisions of this Order and
such regulations may be issued through such officers and agencies
as the Secretary of tho Treasury may designate.
Section 11.
Penalties.— All persons are hereby informed that
Section 7 of the Silver Purchase Act of 1934 prescribes penalties
for willful violation of any of the provisions hereof or of any
license, Order, rule or regulations issued or prescribed under the
authority horeof.
This Order and any regulations, rules, and liconses prescribed
or issued hereunder may be modified or revoked at any time.
APPROVED:
Franklin D. Roosevelt
THE WHITE HOUSE.
Henry Morgonthau, Jr.,
June 28, 1934.
Secretary of the Treasury.
Eight P. M.
ORDER OP THS SECRETARY OP THE TREASURY
Relating to Silver
WHEREAS, Section 6 of the Silver Purchase Act of 1934 provides
as follows:
"Soc. 6* Whenever in his judgment such action
is necessary to effectuate the policy of this Act,
the Secretary of the Treasury is authorized, with
the approval of the President, to investigate, regu
late, or prohibit, by means of licenses or otherwise,
the acquisition, importation, exportation, or trans
portation of silver and of contracts and other
arrangements made with respect thereto; and to require
the filing of reports deemed by him reasonably neces
sary in connection therewith. Whoever willfully
violates the provisions of any license, order, rule,
or regulation issued pursuant to the authorization
contained in this section shall, upon conviction,
be fined not more than $10,000 or, if a natural
person, may be imprisoned for not more than ten years,
or both; and any officer, director, or agent of any
corporation who knowingly participates in such viola
tion may be punished by a like fine, imprisonment, or
both.”
WHEREAS, in my judgment, such action is necessary to effectuate
the policy of said Silver Purchase Act of 1934;
HOW, THEREFORE, I, HENRY MORGENTHAU, JR., Secretary of the
Treasury, do hereby prescribe the following provisions for the investi
gation, regulation, and prohibition of tho acquisition, importation,
exportation, or transportation of silver and of contracts and arrange
ments made with respect thereto, and requirements concerning tho
filing of reports deemed by the Secretary of the Treasury reasonably
necessary in connection therewith.
Section 1,
Definitions.— As used in this Order the term ’'person’'
means an individual, partnership, association, or corporation; and
the term ’’continental United States" means the States of the United
States, the District of Columbia, and the Territory of Alaska.
- 2 Section 2,
Exportation or transportation frog the continental
United States.— Except as otherwise specifically provided in Sections 4,
5, and 6 hereof, no person shall export or transport from the con
tinental United States, any silver except under license issued pur
suant to Section 3 of this Order.
Section 3#
Licenses.— The Secretary of the Treasury, subject
to such regulations as he may prescribe, acting directly or through
such agency or agencies as he may designate, nay issue licenses
authorizing the exportation or transportation fron the continental
United States of silver which the Secretary of the Treasury, or the
designated agency, is satisfied:a.
is required to fulfill an obligation to deliver such silver
outside of the continental United States, incurred or assumed by the
applicant on or before the date of this Order;
b.
has been owned on and continuously after the date of this
Order by a recognized foreign government, foreign central bank, or
the Bank for International Settlements;
c.
was imported for prompt reexport, or was imported in silver
bearing materials under an agreement to refine such materials and
export the silver so refined;
d.
is of a fineness of .8 or less; or
e.
with the approval of the President, for other purposes not
inconsistent with the purposes of the Silver Purchase Act of 1934.
Section 4.
Fabricated silver.— Silver contained in articles
fabricated and held in good faith for a specific and customary
use and not for their value as silver bullion may bo exported, or
transported from the continental United States, without the necessity
of obtaining a license:
Provided, That a statement containing such
information as may be required by the Secretary of the Treasury shall
have been executed, sworn to, and filed in duplicate with the collector
of customs at the port of shipment from the continental United States
or with the postmaster at the place of mailing; and such collector or
postmaster shall have endorsed on the duplicate copy of such affidavit
that ho is satisfied that the shipment from the continental United
States is not being made for the purpose of holding or disposing of
such articles outside of the continental United States primarily for
their silver content:
Provided, That persons leaving the continental
United States nay carry with them such articles owned by then and for
their personal use in their fabricated form, of a fine silver content
not exceeding 100 troy ounces without the necessity of filing such
affidavit or obtaining an export license under this Order*
Section 5.
Metals containing silver*— Metals containing not more
than 50 troy ounces of fine silver per short ton may be exported or
transported from the continental United States without the necessity
of obtaining a license under this Order:
Provided, (That the collector
of customs at the port of export or the postmaster at the place of
mailing may require the furnishing of such evidence and the execution
of such affidavits as are necessary to satisfy him as to the silver
content of the metals*
Section 6*
Silver coin*-—»Silver coins may be exported or trans
ported from the continental United States without the necessity of
obtaining a license under this Order.
Section 7*
Collectors of Customs and postmasters«— At the time
any license is issued under Section 3, the issuing agency shall
transmit a copy thereof to the collector of customs at the port of
expert designated in the license.
The collector of customs shall not
permit the exportation or transportation from the continental United
States of silver in any form except upon surrender of a license issued
#
under Section 3, a copy of which has been received by him from the
agency authorized to issue such license:
Provided, That a license
under this Order shall not be required to export or transport from
the United States silver described in Sections 4, 5, and 6, if the
provisions of such sections respectively are complied with.
In the
event that the shipment is to be made by mail, a copy of the license
shall be sent to the postmaster of the post office designated in the
application, who will act under the instructions of the Postmaster
General in regard thereto.
Section 8.
Exports prohibited by other orders, etc.— The pro
visions of Sections 3, 4, 5, and 6 shall not be construed to authorize
any exportation or transportation from the continental United States
prohibited by any other Ordor or by any low, ruling, or regulation.
Section 9.
Reports.— The Secretary of the Treasury shall require
the filing of such reports, in such mannor, at such times, and con
taining such information, as is deemed by him reasonably necessary
in connection with the investigation, regulation, or prohibition of
acquisitions, importations, exportations, or transportations of
silver and of contracts and arrangements made with respect thereto.
- 5 -
Section 10.
Regulations.— Hie Secretary of the Treasury is
hereby authorized and empowered to issue such regulations as he may
deem necessary to carry out the purposes hereof.
Licenses and per
mits granted in accordance with the provisions of this Order and
such regulations may bo issued through such officers and agencies
as the Secretary of the Treasury may designate.
Section 11.
Penalties.— -All persons are hereby informed that
Section 7 of the Silver Purchase Act of 1934 prescribes penalties
for willful violation of any of the provisions hereof or of any
license, Order, rule or regulations issued or prescribed under the
authority horeof.
This Order and any regulations, rules, and licenses prescribed
or issued hereunder may be modified or revoked at any time.
APPROVED :
Eranklin D. Roosevelt
THE WHITE HOUSE.
Henry Morgonthau, Jr.,
June 28, 1934
Secretary of the Treasury.
Eight P. M.
M u se io r
mæimvm
x x & i
FOR BELEASB, MOHBXNG W W *
S&turday, J m e SO, 1934*
SsPTie«
IL*« ■— »
Saeretary of thè TTeaoury ÜOrgenthaa announe©d today,
jM e 29, 1934, tbat thè tendala fer #75,000,000, or tberoabouta
of 183-day Tfreaaary 5111«, datod Xuly 3, 1934, «ad saturing
January S, 1935, « M a h «ara ©ffered on Tua© if-, «are opened at
tîm federai reaerve banka on Juae if, 1934*
$be total aaouat applled for wa« #305,138,000, of
Whie5 #75,157,000 va« aeeepfced.
ffe© aoeepfced bld» raaged in
prie« from 99.980, ©tuivalent te a rat© of about 0.04 per eeat
per annæa, to 99.950, ©suivaient to a rat© of about 0.08 per
cent per
cm a bank discount basi«.
Oalf part of tb©
moxmt bid for at th© lattar prie© ©a« aeeepted.
7b© arerage
prie© of ïreasury bill» to b© issued 1© 99.954 and tb© arerag©
rat© 1» about 0.07 per c©nt per a n n m on a baak diaconat baci»
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,
Saturday, June 30, 1954.
6-29-34.
PRESS SERVICE
No. 2 - 11
Secretary of the Treasury Morgenthau announced today, June 29,
1934, that the tenders for $75,000,000, or thereabouts, of 183-day
Treasury bills, dated July 3, 1934, and maturing January 2, 1935, which
were offered on June 27, were opened at the Federal reserve banks on
June 29, 1934.
The total amount applied for was $205,138,000, of which
$75, 167,000 was accepted.
The accepted bids ranged in price from
99*980, equivalent to a rate of about 0.04 per cent per annum, to
99.960, equivalent to a rate of about 0.08 per cent per annum on a
bank discount basis.
price was accepted.
issued is 99*964
Only part of the amount bid for at the latter
The average price of Treasury bills to be
and the average rate is about 0.07 per cent per
annum on a bank discount basis*
oOo-oOo
Xn order “to expo dît;0 rork on the now building program the
Secretary today authorized a reorganization of the engineering
of the Public Porks Branch of the procurement pivi^ion. j
field forceA which will be decentralized into eight districts*
A
His order creates a division of inspection, with headquarters in
Hashington and branch offices in each of the eight districts*
3 aeh of the branch offices will b e # in charge of inspection and
report 038 the progress of work on government buildings in its
area. Territorially the districts have been arranged so that
each will have approximately the same amount of work in progress.
The eight districts with headquarters cities will be:
1,
i , Hothheastern States, Boston*tffiscsac.
9
2,
Metropolitan area, Hew Y o r k .
rr
3*
o , Central Atlantic spates, Washington*
4
s t a t e d , A tla n ta ^ 4 « «
t a t e s , C h icago *
s t a t e s , Han s a c C i t y *
s t a t e s , D a lla s, » ,
r s t a t e s s San F r a n c is-
A
-1-1
5,
6,
7,
4
*
CO
A;o.
o•
jo..
Ho
Ho.
H
o.
Ho.
H o.
Ho*
Ho*
H o.
I ‘l ■
'i
- ,:|||g i |M kS
-HC
CS
ft*
A
O
Changes made a t S i * direction in the p la n s for the new
downtown Few York postoffice and Federal office building will
r e s u l t in a saving to th e Government estimated at 1300,000*
-■^»»*>«7«^..I
■ The changes will require
revision of the plans by the architects of the building,
t . . . „__+ r.r whi C-h is ftg .200,000, but this revision will
the estimated cost ox waxen io
>
not result in any material delay.
The changes in the main consist of reduction in size of the
stone blocks in the b u i l d i n g face, elimination of some ornamental
features and the simplification of the interior design in some
proposals
Advertisements calling for
on sites for 200 postoffices
and other public buildings under the new public building program
will be sent out by the Treasury Department today and Monday,
Secretary Morgenthau announced today. The advertisamebts are Jttto
the result of the Secretary*s direction that the building program
to provide employment in the construction industries shall be
expedited in every way possible.
publicly
Proposals offering sites will be opened^ by the postmasters
in the 200 communities, in about ten days after the first a d v e r
tisements appear in the local newspapers. Examinations of the
sites offered will then be made- b y postallinspectors, . no . il~>report to lashington* and selection of the sites
The 'Secretary »add üt
ill follow.
Ufe-vas%giving his close person
attention to all public building construction under the program
voted b y Congress in the closing days of the session with the
double object of speeding u t the work to afford employment and of
ou cover any necessary
over tue original «auk ©sti
mates will be made in each case only on Secretary Morgenthaufs
pe rson al authorization. The work of planning the 300 postoffices
authorized under the new appropriation
will be done mainly by
government architects of the Division of Procurement of the
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
June 30, 1934.
Press Service
Ho. 2 - 1 2
Advertisements calling for proposals on sites for 200 postoffices
and other public buildings under the new public building program will be
sent out by the Treasury Department today and Monday, Secretary Morgenthau
announced today.
The advertisements are the result of the Secretary* s
direction that the building program to provide employment in the construc
tion industries shall be expedited in every way possible.
Proposals offering sites will be opened publicly by the postmasters
in the 200 communities in about ten days after the first advertisements
appear in the local newspapers.
Examinations of the sites offered will then
be made by postal inspectors, who will report to Washington, and selection
of the sites will follow.
The Secretary is giving his close personal attention to all public
building construction under the program voted by Congress in the closing
days of the session with the double object of speeding up the work to
afford employment and of making sure that the government gets full value
for all the money expended.
Expenditures from a special fund of $2,500,000 appropriated to cover
any necessary cost over the original estimates will be made in each case
only on Secretary Morgenthau*s personal authorization.
The work of planning
the 302 postoffices authorized under the new appropriation will be done
mainly by government architects of the Division of Procurement of the
Treasury Department*
-
2
-
Changes made at Secretary Morgenfchau*s direction in the plans for the
new downtown Hew York postoffice and Federal office building will result
in a saving to the Government estimated at $300,000»
The changes will re
quire revision of the plans by the architects of the building, the esti
mated cost of which is $6,200,000, but this revision will not result in
any material delay.
The changes in the main consist of reduction in size of the stone ■
blocks in the building*s face, elimination of some ornamental features
and the simplification of the interior design in some of the working
spaces.
In order to expedite work on the new building program the Secretary
today authorized a reorganization of the engineering field force of the
Public Works Branch of the Procurement Division, which will be decentralized
into eight districts.
His order creates a division of inspection, with head
quarters in Washington and branch offices in each of the eight districts.
Each of the branch offices will be in charge of inspection and report on the
progress of work on government buildings in its area.
Territorially the
districts have been arranged so that each will have approximately the same
amount of work in progress.
The eight districts with headquarters cities will be:
Ho,
No,
No,
No,
No,
No,
No.
No.
1,
2,
3,
4,
5,
6,
7,
8,
northeastern states, Boston,
Metropolitan area, Hew York,
Central Atlantic states, Washington,
Southeastern states, Atlanta,
Great Lakes states, Chicago,
Northwestern states, Kansas City,
Southwestern states, Dallas,
Pacific coast states, San Erancisco,
TREASURY DEPARTMENT
Washington
RELEASE, MORNING PAPERS,
Monday, July 2, 1934
7-1-34
Press Service
No. 2 - 1 3
The following announcement is made today by Secretary Mprgonthau:
The Treasury closed the fiscal year ended June 30, 1934, with
a deficit of $3,989,000,000.
Expenditures included $360,000,000 for the
retirement of United States obligations to meet sinking fund and other statu
tory requirements, so that the deficit, exclusive of debt retirements, was
$3,629,000,000.
This amount and an increase of $885,000,000 in the general
fund balance (exclusive of $835,000,000 remaining in the general fund as a
result of the reduction in the weight of the gold dollar and excess of trust
fund receipts over trust fund expenditures), account for an increase in the
total outstanding gross public debt from $22,539,000,000 at the close of .the
fiscal year 1933 to $27,053,000,000 at the close of the fiscal year 1934*
Receipts
Total receipts during the fiscal year 1934 were $3,116,000,000,
or about $1,036,000,000 larger than in the preceding year*
In part, the
increase reflects collections in 1934 of $353,000,000 of processing taxes on
farm products levied during the fiscal year under the provisions of the
Agricultural Adjustment Act*
Income taxes totalled $818,000,000, an increase
of about $72,000,000; miscellaneous internal revenue amounted to $1,470,000,000
an increase of $611,000,000; and customs to $313,000,000, an increase of
$63,000,000*
Miscellaneous receipts from sundry sources amounted to
$162,000,000, a decrease of $63,000,000*
- 2 ~
Total receipts were $144,000,000 less than the estimate included in the
Budget submitted to the Congress at the beginning of January.
Aggregate revenue
from income taxes, miscellaneous internal revenue and customs receipts
amounted to $2,601,000,000 as compared with the Budget estimate of
$2,660,000,000.
Expenditures
Total expenditures during the fiscal year were $7,105,000,000 compared
with a total of $5,143,000,000 during the previous fiscal year.
The following statement shows the combined general and emergency
expenditures (in millions of dollars) for the fiscal years 1933 and 1934
classified by organization units, and the estimates of expenditures for the
fiscal year 1934 as classified in the 1935 Budget.
- 3 -
Departments and
Independent
Organizations
Departments: 'a)
Agriculture
Commerce
Interior
Justice
Labor
Navy
Post Office (Deficiency)
State
Treasury
War
Expenditures
••
1933
251
46
75
44
14
350
117
16
268
441
1934
349
33
88
32
12
307
52
12
204
409
404
32
105
35
13
337
70
13
218
530
289
716
332
555
400
342
156
150
675
130
150
334
150
1,615
578
106
3,970
564
49
70
689
462
64
757
360
69
742
488
5,143
7,105
9,891
Independent Organizations: fa)
Agricultural Adjustment
Administration
«...
Civil Works Administration
Emergency Conservation Work
Emergency Administration of
Public Works
Earn Credit Administration
28
Federal Deposit Insurance
Corporation
Federal Emergency Relief Adm*
Reconstruction Finance
Corporation (c)
1,277
Veterans Administration
884
All other
111
Special items:
Refunds of receipts
Interest on the public debt
Retirement of public debt
:
•
Estimate of ex
penditures for
1934 as classified
in the 1935 Budget
(a) Departmental expenditures include emergency expenditures on account of
public works*
(b) Includes Legislative Establishment and Executive Office,
(c) Includes expenditures on account of relief and all funds allocated
to other organizations.
• 4 ~
The Public Debt
The fiscal year 1934 closed with the total gross public debt at
$27,053,000*000, compared with $22,539,000*000 on June 30, 1933, an increase
of $4,514,000,000*
This increase was due to borrowing necessary to finance
the emergency expenditures, a substantial part of which is represented by
assets in the form of obligations evidencing loans, the proceeds of which
when repaid may be used to reduce the public debt*
The net balance in the
general fund on June 30, 1934, was $2,582,000*000, or an increase over the
balance on June 30, 1933, of $1,720,000,000, which includes $811,000,000
remaining in the general fund as a result of the reduction in the weight of
the gold dollar*
Public debt retirements of $360,000,000 were made from the sinking
fund and other miscellaneous sources as required by law*
These reductions
were, however, more than offset by new borrowings made necessary by the
excess of expenditures over total receipts*
Money market conditions during the year permitted the iccuQ
debt at low rates of interest.
of new
The annual interest charge increased by
approximately $100,000,000*
Tho following table shows the issues of certificates of indebtedness,
Treasury notes and Treasury bonds offered by the Treasury during the fiscal
year 1934, including refunding operations:
5
Security
Maturity
Date
Rate
Amount
(in even millions)
Certificates of
Indebtedness:
TJ-1934
TD-1934
TS-1934
Sept, 15, 1933
Dec, 15, 1933
Jan, 29, 1934
June 15, 1934
Dec, 15, 1934
Sept,15, 1934
\¡4$
2-1/ 4$
1-1/2jo
Total certificates è
•
$175,000,000
992,000,000
525,000,000
$1,692,000,000
Treasury Notes:
B-1935
C-1935
D-1935
C-1937
C-1938
A-1939
Aug,
Jon,
Feb,
Feb,
Mar,
June
15,
29,
19,
19,
15,
15,
1933
1934
1934
1934
1934
1934
Aug.
Mar,
Dec,
Feb.
Mar.
June
1,
15,
15,
15,
15,
15,
1935
1935
1935
1937
1938
1939
1-5/ 8$ $
2-1/2^
2-1/2jo
3$
2-1/8i
354,000,000
528,000,000
418,000,000
429,000,000
455,000,000
529,000,000
$2,713,000,000
Total notes
Treasury Bonds:
1941
1943-45
1944^46
1946-48
Aug,
6ct,
Apr.
June
IS,
15,
16,
15,
1933
1933
1934
1934
Aug. 1, 1941
Oct. 15, 1945
Apr. 15, 1946
June 15, 1948
3-1/4$ $ 835,000,000
1,401,000,000
3-1/4$ 1,062,000,000
Z$>
825,000,000
Total bonds:
Total certificates, notes and bonds:
$4,123,000,000
$8,528,000,000
Of the “bonds issued on October 15, 1933, and April 16, 1934, approximately
$1,701,000,000 were issued in exchange for Fourth Liberty Loan 4?-l/4$ bonds
called for payment on April 15, 1934,
This amount, together with a redemption
-
6
-
of $129,000,000 in cash and $26,000,000 of the uncalled bonds exchanged on
October 15, 1933, makes a total of approximately $1,856,000,000 of the
Fourth 4-1/4s redeemed.
On April 13, 1934, a further cstll was made for
approximately $1,250,000,000 of the Fourth 4-l/4s for payment on October 15,
1934, making a total of approximately $3,106,000,000 redeemed or called for
redemption, leaving approximately $3,162,000,000 uncalled.
In addition to the gross public debt there are contingent liabilities
in the form of guaranties as to principal and interest on obligations
of the Reconstruction Finance Corporation, Federal Farm Mortgage Corporation,
and Home Owners1 Loan Corporation, aggregating as of June 30, 1934, about
$1,000,000,000.
On June 30, 1934, the average annual rate of interest on the out
standing interest-bearing debt was 3,18$ as compared with an average rate of
3.35$ on the preceding June 30,
Total interest payments on the debt during
the year were $757,000,000 as compared with $689,000,000 for the fiscal year
1933.
June 28, 193U
MEMORANDUM
From
ROBERT H. JACKSON
To
H. E. GASTON
Yvill you kindly let me know whether it will he
possible to have mimeograph copies of this today in
as much as I must leave to night and will want to
make some extra copies here if we cannot get the
mimeographed ones. I have not put on the release no
tice for you know better than 1 what it should contain
I suggest that in addition to newspapers in
Buffalo, that the cities of western New York generally
be covered in as much as this Bar Association includes
everything west of byracuse.
R. II. JACKSON
j
for schemes he never advised.
In dealing with this troublesome problem of maintaining a
Treasury Bar of lawyers, accountants and agents of high standards
of ethics and intelligence, it is the purpose to avoid all unneces
sary suspicion toward and vexation of those who would practice be
fore the department.
In framing new regulations and in their en
forcement, there will be three purposes in mind.
First. To protect against fraud and waste, the subject of its
special trust, the revenues of the United States.
Second. To protect the taxpayers fgainst dishonest or tricky
advice which leads them to trouble and controversy.
Third. To protect honorable lawyers who give clients faithful
advice, against the unfair competition of slickers whose stock in
trade is fraudulent practice or false claims of influence.
The Treasury never has, and probably never will, rank as a
popular or even a well understood Department of Governments.
But in
these last two troubled years, when the credit of almost eveiy bank,
every business and every municipality trembled, the Treasury of the
United States has stood almost solitary in j.ts unshaken credit.
The
present tax policies of the Treasury are dictated by a high sense
of responsibility for the integrity of the revenue system upon which
economic existence, as well as economic reconstruction depend.
-
20-
If the public understood that it pays such men extravagant fees only
to have cases subjected to suspicision and double check, the political
lawyer1s sucker list would be greatly diminished.
I can give no
better advice to those in trouble with the Bureau than to say "Don^
underestimate the integrity of the men you deal with.*1 James M.
Beck, unsparing in his criticism of the Federal Government says,
/j
/"Istkte as my belief that while today it is too complex, and needv T
lessly large, yet in integrity it need yield to that of no other
nation.M
The Treasury administration is determined that its responsi
bility for the character of the Treasury bar shall be discharged
with strictness and vigor.
Regulations are to be revised, enroll
ment will be granted only after searching investigation by the
Intelligence Unit and disbarment will be freely used where offenses
against fair dealing are revealed.
A pronounced stiffening of the
disbarment policy is already noticeable to one who follows the course
of events in the department.
It is possible that enrollment for an indefinite period will
be abolished and enrollment for not to exceed three years substituted
so as to insure revision of the list and fresh scrutiny of the bar at
stated intervals.
Also every one who advises a taxpayer in the preparation of his
tax return must now be named in the return.
fixed at the time the return is made.
Responsibility will be
It cannot be later shifted onto
a lawyer who has obligingly died, nor can an honest advisor be blamed
-19-
be allowed representation by an employee, or an agent, who is neither
lawyer nor accountant.
From this mixed bar of lawyers, accounts and agents, are experienced two principla difficulties.
v/
One is the lawyer whose bid
for business is some slick scheme to outwit the Treasury and evade
tax.
Conservative and honorable lawyers, whose habit has been to
advise clients against tricks and deception to evade taxes have seen
their clients taken away by the solicitation of sharp practitioners
who claimed to have safe schemes of evasion.
The lawyer got the fee,
the client, who signed the return, thought he had closed up a sharp
deal with the government.
His harvest of grief was a long time
maturing, for the government moves slowly, and the conservative
advisor’s business meanwhile slipped into the hands of the solicit
ing competitors.
The second evil is the lawyer, also usually a solicitor, whose
bait is the claim of political or personal influence, or inside know
ledge not available to general practitioners.
It would be rash, to say that no case was, or is, or shall be
helped by political influence or personal relations.
as ray general observation —
But I give it
and my bureau connection is so brief
that I have hardly become defensive minded, that the statement is
hardly self serving —
that if a taxpayer wanted to prejudice his case
the most certain method would be to employ a political lawyer, not
ordinarily connected with his business and obviously employed for his
prominence and alleged influence.
It arouses resentment in the
honest official, and puts even a weak or unfaithful one on his guard.
-
18-
fair and equal treatment.
But most taxpayers feel insecure without
their own advisers, and a tax bar with many honorable and able
members presents cases to the Bureau, the General Counsel’s office,
the Board of Tax Appeals, and to the courts, with skill and fidelity
to the ideals of our profession.
But they are not alone.
The shyster tax lawyer, like his blood
brother in other specialities, challenges the profession as well as
the Treasury.
However apt the public may be .to blame the whole pro
fession for the delinquencies of the few, we know that the legal
profession collectively has less control over the conduct of its
individual member than does the bricklayer’s union over the conduct
of bricklayers, or the Railway Brotherhoods over the conduct of train
men.
To prevent or punish lawyer misconduct, we are unable to rely
upon any established discipline by professional associations.
Splen
did as are isolated examples of Bar Association activity in dealing
with professional misconduct, the associations really effective are
few and local.
State and National Bar Associations are usually with
out the implements and too often without the motive or the will to be re;
governing professional bodies.
If we dealt with lawyers alone, the
problem of discipline would be left on our door step by the profession’s
default.
But the problem is complicated because departmental practice is
not limited to the legal profession.
Many lawyers avoided tax prac
tice and in some sections that field wqs almost abandoned to the
accountant.
Upon many occasions justice requires that the taxpayer
-17-
two extremes appearances often exist which men of good faith and
honest dealing are careful to avoid and others allow at their peril.
Questions arising in the minds of taxpayers were answered by
their lawyers, such as these:
"Can I sell to my wife?"
terms?"
"Can a sale be made upon credit
"Can I buy it back having once sold it?"
Then the taxpayer and the sharp practicing lawyer attempted to
combine all of these elements into one transaction and omitted entire
ly the ever present requirement of good faith.
Men made sales to
their wives that the wives never knew about. In some instances large
blocks of securities were sold to a Secretary of no means and small
income, who put up no money and never knew that she owned the property.
Deductions were claimed for mere bookkeeping entries, and for trans
actions that were no nearer real sales than the moving of securities
from one safe deposit box to another.
We hold that only sales which are sales may be the basis for
a deduction, and any sale that is a trick to present the appearance
of sale, without its substance, is a fraud.
Taxpayers who had come to accept the tax sale as an approved de
vice, or who on past experience or bad advice had come to rely on
Treasury approval of such attempts to reduce taxes, now find them
selves in an embarrassing position.
But no one can acquire a vested
interest in tax evasion.
Tax lawyers are a necessity because the tax law and regulation
and their application present technical and controversial questions.
It is the policy that the taxpayer who employs no counsel shall receive
-
16-
The principal changes in Bureau policy as related to criminal
cases, are involved in the treatment of voluntary disclosure and tax
sale or "wash sale" cases.
The taxpayer who has committed a fraud, and does not sleep Y ie ll
o fnights, either because of conscience or more likely because of
the activities of revenue agents, can no more buy his peace by volun
tary disclosure and mere payment of the tax.
He must no?/ also pay
the civil penalty of 50% of the tax and the interest at 12% as fixed
by the law if he would be excused from criminal prosecution.
Con
fessions are still heard but penance is more fitting the offense.
More than a few citizens can testify that tax frauds are very un
profitable and that from the government few secrets are hidden.
Sales of securities to establish loss have given rise to many
charges of fraudulent practice, and the policy of the Treasury in
reference to them has abruptly changed.
Of course a good faith sale,
resulting in a complete separation of the taxpayer from the owner
ship, benefit, and control of a security and resulting in a loss, is
the basis for a deduction.
Less than this raises doubt and may, in
some circumstances, be fraud.
The Treasury now treats trick stock
sales the same as any other kind of fraud.
One would be rash to attempt to define the boundaries of fraud.
It does not include good faith difference of opinion as to facts, ox
as to their legal effect.
It does include all deliberate and inten
tional acts or omissions, and every trick, artifice, and pretense
which results in a deception or material concealment.
-1 5 -
Between these
The result of this care has been, over the years, a record of
unparalleled success.
Of the cases recommended by the Treasury for
prosecution, conviction or pleas of guilty have been had in 93*27%.
Those prosecuted have included public officials, movie actors, lawyers,
business men and racketeers.
They include those listed as public
enemies, like A1 Capone of Chicago and Waxey Gordon of New York, and
also men of such influence as to be able to call as character wit
nesses the Governor of a State (not New York) and Mayor and a former
Mayor of a great city.
The effect of a conservative policy of pro
secution, with a large percentage of success was well expressed by
a Los Angeles paper upon the collection of $75>000 in taxes and con
viction of a magician with the stage name uThe Man Who Knows.u
The
headline read "Man 'Who Knows All Learns It does not Fay to Fool with
Internal Revenue Department."
The Treasury will not break down this
wholesome respect of groundless recommendations for prosecution.
I wish also to make plain that no collector deputy, or revenue
agent whatever has authority to threaten any citizen with prosecution
in order to compel agreement with proposed tax changes.
No prosecu
tion will be permitted or threatened for a difference of opinion, nor
to punish a taxpayer who asserts what he believes to be his rights,
even if the Department disallows his claim.
We make no recommenda
tion for prosecution and (except for rare jeopardy assessments) no
assertion of a fraud penalty except after hearing the taxpayer's side
of the case, after careful investigation of what he claims to be the
facts and after careful sifting of the evidence by experienced lawyers.
-H -
The answer to the question whether refunds and abatements are
made is Yes, provided the taxpayer can prove by clear and convinc
ing evidence that he is entitled to them, and that he would get
them in court anyway.
The policy is a strict and somewhat technical
one.
Criminal prosecutions for fraud are recommended by the Treasury
where evidence indicates, in the language of the statute, "fraud
with intent to evade tax."
lsfikJb the present Treasury policy toward fraud is more severe
than in times past, it is not as has been portrayed, an undiscrim
inating severity.
Its procedure now, as heretofore, is designed to
avoid groundless prosecution as well as to assure deserved ones.
When a deputy or agent suspects a fraud, the investigation is
taken over by the experienced investigators of the Intelligence Unit.
It is the invariable policy of that Unit to give the taxpayer an op
portunity to present his version of the facts and his arguments in
defense of his conduct.
The history of that Unit shows that of the
suspected cases investigated, it has recommended prosecution in
about 25%,
This recommendation goes to the General Counsel’s office, where
it, and the record, are reviewed by experienced lawyers of the Penaj.
Division, to make sure the evidence meets legal requirements.
payers are again heard often, in person and by counsel.
is not merely formal, for only
51%
Tax
This review
of the cases received are referred
out to the Department of Justice for prosecution.
-1 3 -
lished as refunds or abatements, when as a matter of fact they are
not refunds at all in any proper sense of the word, and their pub
lication under this heading is misleading.
Such credits are allowed
by law; the Bureau has no option about it and they do not ordinarily
involve a repayment of money.
They simply lessen the amount due to
the Federal Government.
Another class of cases causes misunderstanding.
actual case as an illustration —
To use an
a deficiency of approximately one
million dollars was assessed against a corporation.
Because it made
a joint return with affiliated companies some seventy other companies
were also liable.
The same tax was assessed against each of them.
Therefore seventy million dollars of tax was written on to the books
of the Government, although only one million dollars was ever due,
but each and any one of the seventy taxpayers was liable for it.
The same thing happens in the case of transferees where the transfer
of a taxpayer’s assets without the payment of the tax may make many
transferees liable, and the full amount df such tax is assessed
against each, although one payment discharges the entire liability.
The result is that when one pays, there must be an abatement or write
off of the tax as against all of the others.
ing produces an absurd result.
The method of account
If a private banker kept his books
on such a basis, he would be accused of inflating his assets, and
properly.
Yet the impression is given out that some one has been
relieved of a tax, ■hen in fact the amount was never owing except
secondarily, and was paid by the primary debtor.
-
12-
relieved on claim of ”hardship”« If the present policy seems severe,
let it have credit for being impartial.
Refunds and abatements of tax are made in those cases where
it is apparent that the taxpayer has overpaid or lias been overassessed.
No allowance is made unless it is clear that the taxpayer
has a case which he could establish in court.
Nothing has contributed so much to criticism of Treasury policy
as public misunderstanding of the published figures on refunds and
abatements..
There are some cases where the taxpayer has overpaid by reason
of his misunderstanding of the tax law or where an excessive amount
has been collected by action of the Bureau.
It would be a shabby
Government that would not correct such mistakes.
These refunds are
carefully audited and investigated and subjected to the examination
of the Congressional Joint Committee on Taxation where tne amount
exceeds $75,000.00.
There are cases where the statute of limitations is about to
expire, or for some other good cause the tax liability could not be
carefully investigated in the time permitted.
In those cases, to
protect the interests of the Government, an assessment of the maximum
possible amount has been made, with the result that a more careful
auditing frequently obliges the Bureau to make abatement because the
amount is overstated.
Under the estate tax law, estates receive certain credits upon
their Federal taxes for amounts paid to the State.
-
11-
These are pub-
in the same circumstances, and only to the same extent that a good
banker does —
v,re compromise only when we cannot collect,
Comprom- I f
ise because of alleged "equities" or reasons of "public policy" are
no longer considered.
It is urged that this rule is severe, and causes hardship,
have yet to learn of a tax that does not,
I
A tax that is only col
lected from those who find it convenient to pay is not a tax; and
few taxpayers live who cannot make out a case of hardship.
Taxpayers
often neglect to set aside reserves to pay income tax and then use
their improvidence as a club to compel compromise lest a business
be closed or employees deprived of work, or other creditors pre
judiced or credit injured.
Too often these claims are not true, or
are exaggerated by the taxpayer who wishes to blame the government
for a failure that would have happened even if there never had been
an income tax.
A liberal compromise policy which waives the claims of the
Treasury for consideration of "public policy" or hardship is im
possible of administration without creating a favored class of tax
payers, and without creating many real discriminations, which give
rise to stories of compromise by influence and partiality.
It shifts
*
the burden of the taxpayer who has not provided for the claims of
his country upon those who have, keeps the improvident in competition
with the sound, fills the revenue bureau with taxpayers and attorneys
crying for special favors and too often getting them.
Meanwhile,
the taxpayer who seeks no special favors but makes every sacrifice
to meet his own burden, has shoved onto him a}.so the burden of those
-
10-
Steps to clear calendar congestion were early taken.
refusals of postponements brought cases on.
Rigid
Conferences with tax
payers and counsel result in agreement on some and often on all
issues when the date of trial is near at hand.
operating by working at top speed.
The Board is co
June 1st, 1933, saw pending
16,902 cases and June 1st, 1934 saw them reduced to 11,099, of which
1944 have been tried and are under submission or awaiting decision,
thus remaining to be heard 9,1$5.
At the end of May, 1933, pend
ing litigation before the Board involved $776,800,000, and at the
end of May this year it was reduced to $442,600,000.
These figures are prophetic of a not too distant day when de
lay will no longer vex or advantage the taxpayer.
Compromise of tax, penalties or interest liability to the
government is considerably restricted.
Congress has given tax lia
bility a preference as to assets and priority of payment over general
creditors of the taxpayer, and has provided that the liability is not
to be discharged ty bankruptcy.
Those provisions, to our minds,
point to a policy of strict collection.
It is our understanding that the power given to the Secretary
of the Treasury to compromise, is lawfully exercised only where there
is doubt as to the liability of the taxpayer or the collectibility of
the tax.
Regardless of former policies, we now hold that an undis
puted liability, which by reason of the preferences, or lien provision
of the law, is actually collectible, presents no case for compromise,
even though the taxpayer is embarrassed or insolvent.
-9-
We compromise
There was a tendency in the bureau upon creation of the Board
of Tax Appeals to claim the greatest possible tax and let the Board
go into the evidence carefully for the first time and determine the
tax*
Such a policy of tax assessment by litigation was probably
never intended by Congress but it came near to being the result*
Changes in procedure and organization of the Commissioner’s office
to overcome that tendency have been made.
The Commissioner, before
sending a deficiency letter to any taxpayer, makes careful audits
and field investigations, holds conferences with the taxpayer or
his counsel and makes every effort to act only upon full informa
tion and consideration.
Such a policy, though not yet fully re
flected in pending cases, h&s contributed largely to the falling off
in number and percentageof appeals taken.
Of course the government will always be obliged to litigate
many cases.
Taxpayers are better informed and often have better
access to sources of evidence than the government.
The Bureau must
often assert the tax on doubtful points of law in order to obtain
guiding decisions.
If administrative officers concede the point,
the revenues have no redress, while if it is asserted in error the
taxpayer has remedy.
But we do aim at substantial improvement in
the percentage of government success through more careful analysis
of cases before trial.
Delay in hearings invite appeals to obtain time.
Delay results
in heavy losses to the revenues through insolvency, dissipation of
assets and devices to defeat collection.
-8-
stance.
The individual citizen reports his transactions, confesses
his income and even makes the computation and assesses himself the
amount of his tax.
In applying a technical law which few have read,
and voluminous regulations known to fewer, and opinions and decisions
some of which are not even published, errors will be made differences
of opinion will arise.
In spite of some widely reported cases of tax evasion, I am
convinced that the honor of the taxpayer has not failed but that it
is, and always must be, the greatest force in income tax collection.
Looking at a cross section of the ¥/ork of 1933, and using even thou
sands, 4,79B,000 taxpayers filed returns, the government claimed
deficiencies against 85,000 and admitted over—assessments against
45,000.
In that year, after all negotiations were over, the govern
ment issued 17,700 deficiency letters and taxpayers took 6,597 appeals.
Settlements are reached without trial in about two-thirds of these
appealed cases.
I claim no finality for statistics in matters of this kind.
Discovered understatements of income may be no measure of those un
discovered.
Grievances appealed may be no measure of grievances
borne, because of weariness or inability to finance further protest.
But for whatever they are worth, the statistics do show annually only
about 2,000 actual litigations, and differences of opinion were even
tually reconciled, except in cases numbering about l/20 of 1% of re
turns filed.
If there be any general disposition by taxpayers to
hold out on the government or by government to harass taxpayers, it
is not capable of statistical proof.
bonus and reorganization devices, were the order of that day.
The
whole atmosphere of financial laxity and horse trader ethics which
prevailed in the business world could not fail to have its reflec
tion in the government service.
The age of $8 bootleg liquor, of
watered holding company stocks, of fabulous stock market profits on
paper, which became the basis of private cash extravagance, was also
the age of big depreciation allowances, approval of wash sales, easy
compromises of taxes.
In an era when, as we now see, not one of us
took real heed of his own interests, could it be expected that the
interests of the government would be more strictly guarded?
Different times have taught different standards to business and
government.
To reanimate the service, to make the non-Civil Serviceofficials
give undivided allegiance to the government and to break up the prac
tice of generations by which the collectors of taxes were also collec
tors of political assessments, to overcome also the inertia and ob
structive spirit of those who are entrenched in the Civil Service, to
guard against favoritism or advantage, to stop the holes poked in
the law by clever lawyers in aid of powerful clients, is the task
bequeathed to this administration.
Such is the task for which those
working in the new administration generally have been decorated with
the title "misguided bureaucrats, who ignor history" by that superb
.0**
anthology of platitudes and epithets recently promulgated as the
"Republican Declaration of Policy."
The income tax law is citizen-administered in the first in-
effective.
The administration must still face the test of adminis
trative competency.
has conceived.
It must execute with fidelity the designs it
It must steer between the twin dangers of yielding
itself to patronage pressure on the one hand, and of having loyalty
undermined and its work sabotaged by retaining unsympathetic al
though technically equipped reactionaries.
ing sums of money without scandal or waste.
It must handle stagger
As the emergency re
cedes and more normal times resume, the emphasis will shift more and
more to a plain test of administrative capacity. There is a certain
*
determination in the Treasury, most noticeable in Washington, that
by this test, the Treasury shall not be found wanting.
John Stuart Mill has said:
nThe disease which afflicts bureaucratic governments,
and which they usually die of, is routine. They perish
by the immutability of their maxims; and, still more by
the universal law that whatever becomes a routine loses
its vital principle, and having no longer a mind acting
within it, goes on revolving mechanically, tho the work
it is intended to do remains undone.u
Short contact will verify the deadly tendency of the Revenue
Service to "become routine", to "lose its vital principle" and to
"go on revolving mechanically" while a great volume of work accu
mulated.
Moreover, the "immutable maxims" of the Bureau were laid
down and the routine pretty much cast in the reckless days of rising
markets and declining prudence which preceded the crash.
Wild dis
regard by taxpayers of their own expenditure, shameless exploita
tion of stockholders by corporation executives through salary and
*5 -
ing the function in Washington, to cover our vast and complex
national economy, necessitates a vast machine in the Treasury De
partment, which under the name Bureau of Internal Revenue has much
more importance to taxpayers than they generally realize.
Kinds and rates of tax, broad principles of application and
the main outline of procedure, are determined by Congress.
But
upon the Congressional skeleton, the flesh that makes the living
figure is added by Treasury Regulations and Decisions, by General
Counsel!s rulings and, last but not least, by the administrative
attitude of the bureau in individual cases.
The extent of Bureau
power may be realized from the fact that Congress refrained from
enacting a statutory reduction of depreciation rates upon assurance
that the Commissioner, simply by administrative regulation and dis
allowance of unreasonable claims for depreciation allowance, would
add $8$,000,000 to the revenues.
The supervision of this vast power, the new administration
has committed to a direct thinking and dynamic Secretary of the
Treasury.
The democratic party, long cast for the role of opposi
tion and criticism, from which it has made but brief and widely
separated ventures into national administration, has developed more
prominently men whose talents were adapted to opposition, such as
orators, reformers, critics, political philosophers.
It has not
had necessity or opportunity to develop so many executives except
on the narrower state wide scale.
But in the Treasury, particularly,
and I think in all other Departments as well, zeal for reform, and
a philosophy of progressivism is not enough to make the "New Deal”
-U -
informed, influential and unselfish.
With few and notable excep
tions, the men who throng national and state capitals when tax laws
are being revised, who provide the information or misinformation,
and the **sentiment11 that presses laws through, are each agents of a
special cause.
Whatever proposals may be made by the Treasury, or
by such agencies as New York State*s excellent tax department, or
by special committees, no scientific and equitable tax system can
ever become law until there is developed a strong body of sentiment,
sustained by informed opinion and powerful enough to override the
contenders for special advantages.
Bar Associations could, if they
but would, contribute powerfully to this cause, but frankly, it seems
hopeless to count on most bar associations for much contribution to
governmental, economic, or social science unless intellectual inertia
be counted a contribution.
Your program today, considering taxation from several angles,
is a hopeful sign.
The Treasury is making extensive studies of the
operation of tax laws here and abroad, welcomes discussion of poli
cies and will gladly cooperate with its resources of information,
statistics and experience with groups everywhere to build up public
interest in ano. information about the tax problem without however,
becoming a party to any group interest propaganda.
Meanwhile, without awaiting more perfect tax laws, we must im
prove the administration of the one we have.
No workable scheme for
decentralising the federal tax assessing function and spreading it
into the several states or regions, has yet been devised.
Centraliz-
powerful control device.
The nprolectionistsM found a tariff tax
ation a powerful, quick and certain means to divert wealth from
its ordinary economic channels and to concentrate it in the hands
of "infant industries".
Now an opposed group seeks to use the
same power to a different end, to equalize incomes and to redis
tribute concentrated wealth.
Whether or not they accept either of these extreme positions,
all governing groups find taxation a powerful measure of regulation.
Liquor taxation is an old example.
More recent examples are pro
cessing taxes and compensating taxes under the Agricultural Adjust
ment Act, and the new tax on the transfer of firearms and machine
guns, really designed to help suppress crime, and the new 50% tax
on silver profits designed to prevent speculators from growing rich
on the government's silver policy.
The impact of a tax law is not
wholly absorbed by the field of trade and finance, it jolts the
whole social order.
No more than casual examination of our federal, state and local
tax structures is necessary to convince you that tax laws are too
often changed, too ìmmaturely thought out, that they are simply a
patchwork put together by compromises among contending groups.
Private groups seek special advantages or seek to avoid burdens,
and different governmental agencies, federal, state and local com
pete with each other to get necessary revenues without unfavorable
political results.
It brings despair to those who seek a scientific and equitable
tax system that there is nowhere visible a group that is at once
CHANGES IN TREASURY TAX POLICY
B3
^Jfttfbert H. J^ekson,
Assisj^afit General pemisel o|#Treasury.
Befopg*
¿F Federatio^of Bar Associate
J^stern Nem^ork,
^Tiagara Fplïs, N^f.
/ Saturd§ÿrP . ivu^'f
# June##), 1 9 lC
r*A
Among the most controversial and vital problems of the com»1
ing years^j are those relating to taxation. Lawyers will further
impair their already declining leadership if they fail to bring
disinterested and intelligent influence to bear upon the economic
and legal questions involved.
He is blind to coming events, who fails to see ahead a heavy
and growing tax burden.
This nation, like every organized govern
ment , has shown a constant expansion of function^? and a tax rate
that, whatever the promises, shows a steady upward curve.
Emergenc
expenditures caused by the economic collapseg) and the cost of our
economic reconstruction, have already led Congress to direct a
special inquiry into the operation of our tax laws and into new
sources of revenue.
All political parties have found the power of taxation a
TREASURY DEPARTMENT
Washington
Release, Upon Delivery,
Saturday« June 50« 1954. 5*50 p«m.
6-28-54.
Press Service.
Address prepared for delivery by Robert H. Jackson, Assistant General
Counsel of the U.
s.
Treasury Department, before the Ninth Annual Meeting of
the Federation of Bar Associations of Western New York, at Niagara Falls, N.I.
on Saturday, June 30, 1954.
>— i n
I
--r»mmn'n,nmnrri, ir iii m i mm mnii nm nr i
- -■ n v r u ìi r i » rrnr imww i - i
TREASURY DEPART
FUTURE RELEASE
Washington
Press Service
RELEASE, UPON. DELIVERY,
Saturday, June 30, 1934, 3:30 p.m.
6-28-34,
”
OBSERVE DATE
Address prepared for delivery "by Robert H. Jackson, Assistant General
Counsel of the U, S# Treasury Department, before the Ninth Annual Meeting of
the Federation of Bar Associations of Western New York, at Niagara Palls, N#Y,,
on Saturday, June 30, 1934,
CHANGES
IN
TREASURY
TAX
POLICY
Among the most controversial and vital problems of the com
ing years are those relating to taxation.
Lawyers will further
impair their already declining leadership if they fail to bring
disinterested and intelligent influence to bear upon the economic
and legal questions involved.
He is blind to coming events, who fails to see ahead a heavy
and growing tax burden.
This nation, like every organized govern
ment, has shown a constant expansion of functions and a tax rate
that, whatever the promises, shows a steady upward curve,
Emergency
expenditures caused by the economic collapse and the cost of our
economic reconstruction, have already led Congress to direct a
special inquiry into the operation of our tax laws and into new
sources of revenue.
All political parties have found the power of taxation a
powerful control device.
The ’‘prolectionists11 found a tariff
taxation a powerful, quick and certain means to divert wealth
-
2
-
from its ordinary economic channels and to concentrate it in the
hands of "infant industries".
Uow an opposed group seeks to use
the same power to a different end, to equalize incomes and to re
distribute concentrated wealth.
Whether or not they accept either of these extreme positions,
all governing groups find taxation a powerful measure of regulation.
Liquor taxation is an old example.
More recent examples are pro
cessing taxes and compensating taxes under the Agricultural Adjust
ment Act, and the new tax on the transfer of firearms and machine
guns, really designed to help suppress crime, and the new 50$ tax
on silver profits designed to prevent speculators from growing rich
on the government1s silver policy.
The impact of a tax law is not
wholly absorbed by the field of trade and finance; it jolts the
whole social order.
ITo more than casual examination of our federal, state and local
tax structures is necessary to convince you that tax laws are too
often changed, too immaturely thought out, that they are simply a
patchwork put together by compromises among contending groups.
Private groups seek special advantages or seek to avoid burdens,
and different governmental agencies, federal, state and local,com
pete with each other to get necessary revenues without unfavorable
political results*
It brings despair to those who seek a scientific and equitable
tax system that there is nowhere visible a group that is at once
informed, influential and unselfish.
With few and notable exceptions,
3
the men who throng national and state capitals when tax laws are
being revised, who provide the information or misinformation, and
the "sentiment** that presses laws through, are each agents of a
special cause*
Whatever proposals may be made by the Treasury, or
by such agencies as New York State*s excellent tax department, or
by special committees, no scientific and equitable tax system can
over become law until there is developed a strong body of sentiment,
sustained by informed opinion and powerful enough to override the
contenders for special advantages#
Bar associations could, if they
but would, contribute powerfully to this cause, but frankly, it seems
hopeless to count on most bar associations for much contribution to
governmental, economic, or social science unless intellectual inertia
bo counted a contribution*
Your program today, considering taxation from several angles,
is a hopeful sign*
The Treasury is making extensive studies of the
operation of tax laws hero and abroad, welcomes discussion of poli
cies,and will gladly cooperate with its resources of information,
statistics and experience with groups everywhere to build up public
interest in and information about the tax problem without,however,
becoming a party to any group interest propaganda*
Meanwhile, without awaiting more perfect tax laws, we must im
prove the administration of the one wo have*
No workable scheme for
decentralizing the federal tax assessing function and spreading it
into the several states or regions, has yet been devised*
Contraliz*-
ing the function in Washington, to cover our vast and complex: national
- 4 -
economy, necessitates a vast machine in the Treasury Department
which,under the name "Bureau of Internal Revenud’M s ranch more
importance to taxpayers than they generally realize«
Kinds and rates of tax, broad principles of application and
the main outline of procedure, are determined by Congress«
Bat
upon the Congressional skeleton, the flesh that makes the living
figure is added by Treasury Regulations and Decisions, by General
Counsel's rulings and, last but not least, by the administrative
attitude of the bureau in individual cases*
The extent of Bureau
power may be realized from the fact that Congress refrained from
enacting a statutory reduction of depreciation rates upon assurance
that the Commissioner, simply by administrative regulation and dis
allowance of unreasonable claims for depreciation allowance, would
add $85,000,000 to the revenues*
The supervision of this vast power, the new administration
has committed to a direct thinking and dynamic Secretary of the
Treasury«
The democratic party, long cast for the role of opposi
tion and criticism, from which it has made but brief and widely
separated ventures into national administration, has developed more
prominently men whose talents wore adapted to opposition, such as
orators, reformers, critics, political philosophers«
It has not
had necessity or opportunity to develop so many executives'except
on the narrower state-wide scale«
But in the Treasury, particularly,
and I think in all other Departments as well, zeal for reform, and
a philosophy of progressivism is not enough to make the "New Deal"
- 5 -
effective«
The administration must still face the test of adminis
trative competency*
has conceived*
It must execute with fidelity the designs it
It must steer between the twin dangers of yielding
itself to patronage pressure on the one hand, and of having loyalty
undermined and its work sabotaged by retaining unsympathetic al
though technically equipped reactionaries.
ing sums of money without scandal or waste*
It must handle stagger
As the emergency re
codes and more normal times resume, the emphasis will shift more and
more to a plain test of administrative capacity,
There is a certain
determination in the Treasury, most noticeable in Washington, that
by this test, the Treasury shall not be found wanting*
John Stuart Mill has said;
"The disease which afflicts bureaucratic governments,
and which they usually die of, is routine* They perish
by the immutability of their maxims; and, still more by
the universal law that whatever becomes a routine loses
its vital principle, and having no longer a mind acting
within it, goes on revolving mechanically, tho the work
it is intended to do remains undone*11
Short contact will verify the deadly tendency of the Revenue
Service to "become routine", to "los© its vital principle"' and to
"go on revolving mechanically" while a great volume of work accu
mulated*
Moreover, the "immutable maxims" of the Bureau were laid
down and the routine pretty much cast in tho reckless days of rising
markets and declining prudence which preceded the crash,
Wild dis
regard by taxpayers of their own expenditure, shameless exploita
tion of stockholders by corporation executives through salary and
- 6 -
tonus and reorganization devices, were the order of that day«
The
whole atmosphere of financial laxity and horse trader ethics which
prevailed in the "business world could not fail to have its reflec
tion in the government service.
The age of $8 bootleg liquor, of
watered holding company stocks, of fabulous stock narket profits on
paper, which became the basis of private cash extravagance, was also
the age of big depreciation allowances, approval of wash sales, easy
compromises of taxes.
In an era when, as we now see, not one of us
took real heed of his own interests, could it be expected that the
interests of the government would be more strictly guarded?
Different times have taught different standards to business and
government.
To reanimate the service, to make the non-Civil Service officials
give undivided allegiance to the government and to break up the prac
tice of generations by which the collectors of taxes were also collec
tors of political assessments, to overcome also the inertia and ob
structive spirit of those who are entrenched in the Civil Service, to
guard against favoritism or advantage, to stop the holes poked in
the law by clever lawyers in aid of powerful clients, is the task
bequeathed to this administration.
Such is the task for which those
working in the now administration generally have been decorated with
the title ’’misguided bureaucrats, who ignoro history” by that superb
anthology of platitudes and epithets recently promulgated as the
’’Republican Declaration of Policy.”
- 7 -
income tax law is citizen—administered in the first iifr*
stance.
The individual citizen reports his transactions, confesses
his income and even makes the computation and assesses himself the
amount of his tax.
In applying a technical law which few have read*
and voluminous regulations known to fewer, and opinions and decisions
somo of which are not even published, errors will be made »differences
of opinion will arise.
In spite of some widely reported cases of tax evasion, I am
convinced that the honor of the taxpayer has not failed but that it
is, and always must bo, the greatest force in income tax collection*
Looking at a cross section of the work of 1933, and using even thou**
sands, 4,798,000 taxpayers filed returns, the government claimed
deficiencies against 85,000 and admitted over-assessments against
45,000,
In that year, after all negotiations were over, the govern
ment issued 17,700 deficiency letters and taxpayers took 6,597 appeals.
Settlements are reached without trial in about two-thirds of these
appealed cases,
I
claim no finality for statistics in matters of this kind.
Discovered understatements of income may be no measure of those un
discovered,
Grievances appealed may be no measure of grievances
borne, because of weariness or inability to finance further protest.
But for whatever they are worth, the statistics do show annually only
about 2,000 actual litigations, and differences of opinion were even
tually reconciled, except in cases numbering about l/20 of 1$ of re
turns filed*
If there bo any general disposition by taxpayers to
hold out on the government or by government to harass taxpayers, it
is not capable of statistical proof.
M 8 ***
There was a tendency in the -bureau upon creation of the Board
of Tax Appeals to claim the greatest possible tax and let the Board
go into the evidence carefully for the first time and determine the
tax*
Such a policy of tax assessment by litigation was probably
never intended by Congress bat it came near to being the result*
Changes in procedure and organization of the Commissioner^ office
to overcome that tendency have been made*
The Commissioner, before
sending a deficiency letter to any taxpayer, makes careful audits
and field investigations, holds conferences with the taxpayer or
his counsel and makes every effort to act only upon full informa
tion and consideration.
Such a policy, though not yet fully re
flected in pending cases, has contributed largely to the falling off
in number and percentage of appeals taken.
Of course the government will always be obliged to litigate
many cases.
Taxpayers are better informed and often have better
access to sources of evidence than the government.
The Bureau must
often assert the tax on doubtful points of law in order to obtain
guiding decisions*
If administrative officers concede the point,
the revenues have no redress, while if it is asserted in error the
taxpayer has remedy*
But we do aim at substantial improvement in
the percentage of government success through more careful analysis
of cases before trial.
Delays in hearings invite appeals to obtain time*
Delay results
in heavy losses to the revenues through insolvency, dissipation of
assets and devices to defeat collection.
- 9 -
Steps to clear calendar congestion were early taken«
refusals of postponements brought cases on*
Rigid
Conferences with tax
payers and counsel result in agreement on some and often on all
issues when the date of trial is near at hand*
operating by working at top speed.
16,902 cases and June 1^
June 1»
The Board is co
1933, saw pending
1934 saw them reduced to 11,099, of which
1944 have been tried and are under submission or awaiting decision,
thus remaining to be heard 9,155.
At the end of May, 1933, pend*
ing litigation before the Board involved $776,800,000, and at the
end of May this year it was reduced to $442,600,000.
These figures are prophetic of a not too distant day when de
lay will no longer vex or advantage the taxpayer.
Compromise of tax, penalties or interest liability to the
government is considerably restricted.
Congress has given tax lia
bility a preference as to assets and priority of payment over general
creditors of the taxpayer, and has provided that the liability is not
to be discharged by bankruptcy.
Those provisions, to our minds,
point to a policy of strict collection.
It is our understanding that the power given to the Secretary
of the Treasury to compromise, is lawfully exercised only where there
is doubt as to the liability of the taxpayer or the collectibility of
tho tax.
Regardless of former policies, we now hold that an undis
puted liability, which by reason of the preferences, or lien provision
of the law, is actually collectible, presents no case for compromise,
even though tho taxpayer is embarressod or insolvent.
We conpromise
-lO-
in the same circumstances, and only to the same extent that a good
"banker does —
we compromise only when we cannot collect«
Compro
mise because of alleged "equities” or reasons of **public policy** are
no longer considered*
It is urged that this rule is severe
have yet to learn of a tax that does not*
and causes hardship*
I
A tax that is only col
lected from those who find it convenient to pay is not a tax; and
few taxpayers live who cannot make out a case of hardship*
Ta^Payers
often neglect to set aside reserves to pay income tax and then use
their improvidence as a club to compel compromise lest a business
be closed or employees deprived of work, or other creditors pre
judiced or credit injured*
Too often these claims are not true
or
are exaggerated by the taxpayer who wishes to blame the government
for a failure that would have happened even if there never had been
an income tax*
A liberal compromise policy which waives the claims of the
Treasury for consideration of ’’public policy” or hardship is in>possible of administration without creating a favored class of tax
payers, and without creating many real discriminations, which give
rise to stories of compromise by influence and partiality*
It shifts
the burden of the taxpayer who has not provided for the claims of
his country upon those who have, keeps the improvident in competition
with the sound, fills the revenue bureau with taxpayers and attorneys
crying for special favors and too often getting them*
Meanwhile,
the taxpayer who seeks no special favors but makes every sacrifice
to meet his own burden, has shoved onto him also the burden of those
-
relieved on claim of
hardship .
11
If the present policy seems severe,
let it have credit for being impartial.
Refunds and abatements of tax are made in those cases where
it is apparent that the taxpayer has overpaid or has been over
assessed,
Ho allowance is made unless it is clear that the taxpayer
has a case which he could establish in court,
Hothing has contributed so much to criticism of Treasury policy
as public misunderstanding of the published figures on refunds and
abatements.
There are some cases where the taxpayer has overpaid by reason
of his misunderstanding of the tax law or where an excessive amount
has been collected by action of the Bureau,
It would be a shabby
Government that would not correct such mistakes.
These refunds are
carefully audited and investigated and subjected to the examination
of the Congressional Joint Committee on Taxation where the amount
exceeds $75,000,00,
There are cases where the statute of limitations is about to
expire, or for some other good cause the tax liability could not be
carefully investigated in the time permitted.
In those cases, to
protect the interests of the Government, an assessment of the maximum
possible amount has been made, with the .result that a more careful
auditing frequently obliges the Bureau to make abatement because the
amount is overstated.
Under the estate tax law, estates receive certain credits upon
their Federal taxes for amounts paid to the State,
These are pub-
12
-
-
lished as refunds or abatements, when as a matter of fact they are
not refunds at all in any proper sense of the word, and their pub
lication under this heading is misleading.
Such credits are allowed
by law; the Bureau has no option about it and they do not ordinarily
involve a repayment of money*
They simply lessen the amount due to
tho federal Government.
Another class of cases causes misunderstanding.
actual case as an illustration —
To use an
a deficiency of approximately one
million dollars was assessed against a corporation.
Because it made
a joint return with affiliated companies some seventy other companies
were also liable.
The same tax was assessed against each of them.
Therefore seventy million dollars of tax was written on to the books
of the Government, although only one million dollars was ever due,
but each and any one of the seventy taxpayers was liable for it.
The same thing happens in the case of transferees where the transfer
of a taxpayer’s assets without the payment of the tax may make many
transferees liable, and the full amount of such tax is assessed
against each, although one payment discharges the entire liability.
The result is that when one pays, there must bo an abatement or write
off of the tax as against all of the others.
ing produces an absurd result.
The method of account
If a private banker kept his books
on such a basis, he would be accused of inflating his assets, and
properly.
Yet the impression is given out that some one has been
relieved of a tax, when in fact the amount was never owing except
secondarily, and was paid by the primary debtor.
- 13 -
The answer to the question whether refunds and abatements are
made is Yes, provided the taxpayer can prove by clear and convinc
ing evidence that he is entitled to them, and that he would get
them in court anyway.
The policy is a strict and somewhat technical
one.
Criminal prosecutions for fraud are recommended by the Treasury
where evidence indicates, in the language of the statute, “fraud
with intent to evade tax,“
While the present Treasury policy toward fraud is more severe
than in times past, it is not as has been portrayed, an undiscrim
inating severity.
Its procedure now, as heretofore, is designed to
avoid groundless prosecution as well as to assure deserved ones,
When a deputy or agent suspects a fraud, the investigation is
taken over by the experienced investigators of the Intelligence Unit,
It is the invariable policy of that Unit to give the taxpayer an op
portunity to present his version of the facts and his arguments in
defense of his conduct.
The history of that Unit shows that of the
suspected cases investigated, it has recommended prosecution in
about 25$.
This recommendation goes to the General Counsel*s Office, whore
it
and the record
are reviewed by experienced lawyers of the Penal
Division, to make sure the evidence meets legal requirements.
payers are again heard often, in person and by counsel.
Tax
This review
is not merely formal, for only 51$ of the cases received are referred
out to the Department of Justice for prosecution.
- 14 -
She result of this care has boon, over the years, a record of
unparalleled success.
Of the cases recommended by the Treasury for
prosecution, conviction or pleas of guilty have been had in 93.27$.
Those prosecuted have included public officials, movie actors, lawyers,
business men and racketeers.
They include those listed as public
enemies, like A1 Capone of Chicago and Waxey Gordon of New York, and
also men of such influence as to be able to call as character wit
nesses the Governor of a State (not New York) and Mayor and a former
Mayor of a great city.
The effect of a conservative policy of pro
secution. with a large percentage of success was well expressed by
a Los Angeles paper upon the collection of $75,000 in taxes and con
viction of a magician with the stage name “The Man Who Knows.”
The
headline read nMan Who Knows All Learns It does not Pay to Fool with
Internal Revenue Department,”
The Treasury will not break down this
wholesome respect of groundless recommendations for prosecution,
I wish also to make plain that no collector»deputy, or revenue
agent whatever has authority to threaten any citizen with prosecution
in order to compel agreement with proposed tax changes.
No prosecu
tion will be permitted or threatened for a difference of opinion, nor
to punish a taxpayer who asserts what he believes to be his rights,
oven if the Department disallows his claim.
We make no recommenda
tion for prosecution and (except for rare jeopardy assessments) no
assertion of a ffaud penalty except after hearing the taxpayer^ side
of the case, after careful investigation of what he claims to be the
facts and after careful sifting of the evidence by experienced lawyers.
The principal changes in Bureau policy as related to criminal
cases
are involved in the treatment of voluntary disclosure and tax
sale or Mwash sale" cases.
The taxpayer who has committed a fraud, and does not sleep well
o 1nights, either because of conscience or more likely because of
the activities of revenue agents, can no more buy his peace by volun
tary disclosure and mere payment of the tax.
He must now also pay
the civil penalty of 50$ of the tax and the interest at 12$ as fixed
by the law if ho would be excused from criminal prosecution.
Con
fessions are still heard but penance is more fitting the offense.
More than a few citizens can testify that tax frauds are very un
profitable and that from the government few secrets are hidden.
Sales of securities to establish loss have given rise to many
charges of fraudulent practice, and the policy of the Treasury in
reference to thou has abruptly changed.
Of course a good faith sale,
resulting in a complete separation of the taxpayer from the owner
ship, benefit, and control of a security and resulting in a loss, is
the basis for a deduction.
Less than this raises doubt and may, in
some circumstances, be fraud.
The Treasury now treats trick stock
sales the same as any other kind of fraud.
One would be rash to attempt to define the boundaries of fraud.
It does not include good faith difference of opinion as to facts, or
as to their legal effect.
It does include all deliberate and intenr*
tional acts or omissions, and every trick, artifice, and pretense
which results in a deception or material concealment.
Between those
-
16
-
two extremes appearances often exist which men of good faith and
honest dealing are careful to avoid and others allow at their peril.
Questions arising in the minds of taxpayers were answered by
their lawyers, such as these:
nCan I sell to my wife?”
MCan a sale be made upon credit
terms?11 ’’Can I buy it back having once sold it?"
Then the taxpayer and the sharp practicing lawyer attempted to
combine all of these elements into one transaction and omitted entire
ly the ever present requirement of good faith.
their wives that the wives never knew about.
E'en made sales to
In some instances large
blocks of securities were sold to a secretary of no means and small
income, who put up no money and never knew that she owned the property.
Deductions were claimed for mere bookkeeping entries, and for trans
actions that were no nearer real sales than the moving of securities
from one safe deposit box to another.
We hold that only sales which are sales may be the basis for
a deduction, and any sale that is a trick to present the appearance
of sale, without its substance, is a fraud.
Taxpayers who had come to accept the tax sale as an approved de
vice, or who on past experience or bad advice had come to rely on
Treasury approval of such attempts to reduce taxes, now find them
selves in an embarrassing position.
But no one can acquire a vested
interest in tax evasion.
Tax lawyers are a necessity because the tax law and regulation
and their application present technical and controversial questions.
It is the policy that the taxpayer who employs no counsel shall receive
- 17 fair and equal treatment.
But most taxpayers feel insecure without
their own advisers, and a tax har with many honorable and able
members presents cases to the Bureau, the General Counsel’s office,
the Board of Tax Appeals, and to the courts, with skill and fidelity
to the ideals of our profession.
But they are not alone.
The shyster tax lawyer, like his blood
brother in other specialities, challenges the profession as well as
the Treasury.
However apt the public may bo to blame the whole pro
fession for the delinquencies of the few, we know that the legal
profession collectively has less control over the conduct of its
individual member than does the bricklayer's union over the conduct
of bricklayers, or the Railway Brotherhoods over the conduct of train
men.
To prevent or punish lawyer misconduct,we are unable to rely
upon any established discipline by professional associations.
Splen
did as are isolated examples of Bar Association activity in dealing
with professional misconduct, the associations really effective are
few and local.
State and Rational Bar Associations are usually with
out the implements and too often without the motive or the will to be real
governing professional bodies.
If we dealt with lawyers alone, the
problem of discipline would be left on our door step by the profession's
default.
But the problem is complicated because departmental practice is
not limited to the legal profession.
Many lawyers avoided tax prac
tice and in some sections that field was almost abandoned to the
accountant.
Upon many occasions justice requires that the taxpayer
-
18
“be allowed representation by an employee, or an agent, who is neither
lawyer nor accountant.
From this mixed har of lawyers, accountants'and agents* aro ex
perienced two principal difficulties.
One is the lawyer whose bid
for business is some slick scheme to outwit the Treasury and evade
tax.
Conservative and honorable lawyers, whose habit has been to
advise clients against tricks and deception to evade taxes,have seen
their clients taken away by the solicitation of sharp practitioners
who claimed to ha.ve safe schemes of evasion.
The lajfyer got the fee,
the client, who signed the return, thought he had closed up a sharp
deal with the government.
His harvest of grief was a long time
maturing, for the government moves slowly, and the conservative
advisor1s business meanwhile slipped into the hands of the solicit
ing competitors.
The second evil is the lawyer, also usually a solicitor, whose
bait is the claim of political or personal influence, or inside know
ledge not available to general practitioners.
It would be rash to say that no case was, or is, or shall be
helped by political influence or personal relations.
as my general observation —
But I give it
and my bureau connection is so brief
that I have hardly become defensive minded, that the statement is
hardly self serving —
that if a taxpayer wanted to prejudice his case
the most certain method would be to employ a political lawyer, not
ordinarily connected with his business and obviously employed for his
prominence and alleged influence.
It arouses resentment in the
honest official, and puts even a weak or unfaithful one on his guard.
- 19 -
If the public understood that it- pays such men extravagant fees only
to have cases subjected to suspicion
and double check, the political
lawyer*s sucker list would be gratly diminished.
I can give no
bettor advice to those in trouble with the Bureau than to say HDon*t
underestimate the integrity of the men you deal with,** James M,
Beck, unsparing in his criticism of the Federal Government says,
**I state as my belief that while today it is too complex, and need
lessly large, yet in integrity it need yield to that of no other
nation.H
The Treasury administration is determined that its responsi
bility for the character of the Treasury bar shall be discharged
with strictness and vigor.
Regulations are to be revised, enroll
ment. will be granted only after searching investigation by the
Intelligence Unit and disbarment will be freely used where offenses
against fair dealing are revealed.
A pronounced stiffening of the
disoarment policy is already noticeable to one who follows the course
of events in the department.
It is possible that enrollment for an indefinite period will
be abolished and enrollment for not to exceed three years substituted
so as to insure revision of the list and fresh scrutiny of the bar at
stated intervals.
Also every one who advises a taxpayer in the preparation of his
tax return must now be named in the return.
fixed at the time the return is made.
Responsibility will be
It cannot be later shifted on to
a lawyer who has obligingly died, nor can an honest advisor be blamed
for schemes he never advised.
-
20
-
In dealing with this troublesome problem of maintaining a
Treasury Bar of lawyers, accountants and agents of high standards
of ethics and intelligence, it is the purpose to avoid all unneces
sary suspicion toward and vexation of those who would practice be
fore the department.
In frailing new regulations and in their en
forcement, there will be three purposes in mind,
Hirst,,
To protect against fraud and waste, the subject of its
special trust, the revenues of the United States.
Second,
To protect the taxpayers against dishonest or tricky
advice which leads them to trouble and controversy.
In.ind,
To protect honorable lawyers who give clients faithful
advice, against the unfair competition of slickers whose stock in
trade is fraudulent practice or false claims of influence.
Tne Treasury never has, and probably never will, rank as a
popular or even a well understood department of government .
But in
these last two troubled years, when the credit of almost every bank,
every business and every municipality trembled, the Treasury of the
United States has stood almost solitary in its unshaken credit.
The
present tax policies of the Treasury are dictated by a high sense
of responsibility for the integrity of the revenue system upon which
economic existence
as well as economic reconstruction depend.
insert
*
The Governments
today was filed on behalf of Commissioner
of Internal Revenue Guy T. Helvering by Robert H. Jackson, Assistant
General Counsel of the U. S. Treasury for the Bureau of Internal
Revenue as Attorney for the Respondent.
The following are listed as n0f Counsel for the Commissioner”:
Edward S. Greenbaum and Thomas E. Dewey, Special Assistants to the
Attorney General, and Nathan Gammon and James D. Head, Special At
torneys for the Bureau of Internal Revenue.
lieleasfr--^e^Bton^ay ^ J u l y v4hicU
The Government today filed with the Board of Tax
Appeals its brief in the Charles E, Mitohell tax case.
The Government is
seeking to oolleot #1,275,644. taxes and penalties for 1929 and 1930.
The case was tried before the Board of Tax Appeals
in the week beginning April 30, 1934, before a division of the Board consist
ing of Hon, Jed C, Adams, William C. Landsdon and Ernest H, VanFossen.
Mitchell and other witnesses testified.
In the brief filed today, the Government showed
that although Mitchell had an income of about three and one-half million
dollars in 1929, he paid no income tax for that year, and that in 1930
he had an income at
over three quarters of a million dollars and likewise
paid no tax for that year.
pie Government contends that the sale of 18,300
shares of National City Bank stock which Mitchell claims he made to his wife
in December, 1929, was sham and fictitious and that Mitchell* s acts in claiming
on his income tax return a deduction of #2,872,305. as a loss resulting from
such sale constituted fraud with an intent to evade the payment of taxes.
It is pointed out that when Mitchell says he sold the stock to his wife for
over #3,800,000., her total assets were less than one million;
that she never
paid any cash for the stock and never received the stock which was at all times
held by J.P.Morgan & Company as collateral for a loan to Mitchell.
In 1932,
when MitchelJ was insolvent to an amount in excess of three million dollars,
he bought back stock from his wife at the original “purchase price” of #212,
although the market was then #45.
Attention is called to the fact that when
Mitchell was a witness before the Senate Committee cn Banking and Currency, he
admitted that the sale was merely " a sale of convenience".
The Government also
claims that a like sale in 1930 of 8500 shares of Anaconda Copper stock was like-
wise fraudulent and that the sum of $666,666,67 received by him from the
National City Company^ Management Fund in July 1929 was income and that
his failure to report this money In his income tax Return likewise con
stituted fraud*
The Government claims that Mitchell arranged it so that
the Board of Directors of the National City Company took action which per
mitted him to treat this large payment merely as an advance, to be repaid
only oub of future payments from the Management Fund,
At a later date
Mitchell received 150,000* from the Management Fund and had his salary
increased by $50,000, a year, but nevertheless did not repay any of this
so-called advance, and the National City Company took no steps to collect
payment from Mitchell.
Mitchell has contended that his acquittal in the
criminal case charging him with attempt to evade the payment of taxes
prevents the Government from collecting the tax.
The Government
argues that different questions were involved in the criminal trial
and that the acquittal does not prevent the Government from collecting
what is justly due to it.
The acquittal in the other trial showed
merely that the Government was unable to prove beyond a reasonable doubt
that Mitchell had been guilty of a crime.
The question before the
Board of Tax Appeals in the present case is whether Mitchell* s acts were
a fraudulent attempt to escape payment of taxes, and no punishment is
sought in this proceeding which is merely the Government* s normal steps
to collect taxes due to it,
Mitchell*s brief is to be filed July 30th, Thereafter
the cases will be decided by the Board of Tax Appeals.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
July 2, 1934.
The following summary of the Government* s brief in the Charles E.
Mitchell tax case before the United States Board of Tax Appeals is issued
for the convenience of the press and is not to be quoted as a Treasury
statements
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
July 2
|'gg|
The following summary of the Governments brief in the Charles E. Mitchell
tax case before the United States Board of Tax Appeals is issued for the coi>venience of the press and is not to be quoted as a Treasury statement:
The Government today filed with the Board of Tax ...
Appeals its brief in the Charles E. Mitchell tax case.
seeking to collect $1,275,644
The Government is
taxes and penalties for 1929 and 1930.
The case was tried before the Board of Tax Appeals
in the week beginning April 30, 1934, before a division of the Board consist
ing of Hon. Jed C. Adams, William C. Landsdon and Ernest H. Van Fossen.
Mitchell and other witnesses testified.
In the brief filed today, the Government showed
that although Mitchell had an income of about three and one-half million
dollars in 1929, he paid no income tax for that year, and that in 1930 he
had an income of over three-quarters of a million dollars and likewise
paid no tax for that year.
The Government contends that the sale of 18,300
shares of National City Bank stock which Mitchell claims he made to his wife
m December, 1929, was sham and fictitious and that Mitchell's acts in claiming
on his income tax return a deduction of $2,872,305
as a loss resulting from
such sale constituted fraud with an intent to evade the payment of taxes.
It is pointed out that When Mitchell says he sold the stock to his wife for
over $3,800,000,
her total assets were less than one million;
that she never
Paid any cash for the stock and never received the stock which was at all times
Reid by J. P. Morgan & Company as collateral for a loan to Mitchell,
In 1932,
wRen Mitchell was insolvent to an amount in excess of three million dollars,
bougnt back stock from his wife at the original "purchase price" of $212
-
although the market was then $45.
2
-
Attention is called to the fact that when
Mitchell was a witness before the Senate Committee on Banking and Currency, he
admitted that the sale .as merely "a sale of convenience".
The Government also
claims that a like sale in 1930 of 8500 shares of Anaconda Copper stock was like
wise fraudulent and that the sum of $666,666.67 received by him from the
National City Company's Management Fund in July 1929 was income and that
his failure to report this money in his income tax return likewise constituted
fraud.
The Government claims that Mitchell arranged it so that the Board of
Directors of the National City Company took action which permitted him to
treat this large payment merely as an advance, to be repaid only out of future
payments from the Management Fund,
At a later date Mitchell received $50,000
from the Management Find and had his salary increased *
$50,000
a year,
but nevertheless did not repay any of this so-called advance, and the National
City Company took no steps to collect payment from Mitchell.
Mitchell has contended that his acquittal in the
criminal case charging him with attempt to evade the payment of taxes pre
vents the Government from collecting the tax.
The Government argues that
different, questions were involved in the criminal trial and that the acquittal
does not prevent the Government from collecting what is justly due to it.
The acquictal in the other trial showed merely that the Government was unable
to prove beyond a reasonable doubt that Mitchell had been guilty of a crime.
^
question before the Board of Tax Appeals in the present case is whether
s acts were a fraudulent attempt to escape payment of taxes, and
Punishment is sought in this proceeding which is merely the Government's
normal steps to collect taxes due to it.
The Government fs "brief today was filed on behalf of
Commissioner of Internal Bevenue Guy T. Helvering by Hobert H. Jackson,
- 3 -
Assistant General Counsel of the U. S. Treasury for the Bureau of Internal
Revenue as Attorney for the Respondent*
The following are listed as "Of Counsel for the
Commissioner»;
Edward S. Greenbanm and Thomas E. Dewey, Special Assistants
to the Attorney General, and Nathan Gammon and James D. Head, Special At
torneys for the Bureau of Internal Revenae.
Mitchell*s brief is to be filed July 30th.
after the cases will be decided by the Board of Tax Appeals.
There
Bate» of IBeerttoas*
lISCOiaiMs
BlchlaBd O e a ter
West B e a d
!kitew&ter
ì
yuly 12, 1». 1934*
)
Kaukauna
July IS, 17, 20, 1954.
LadysmltB
July IS, «0, 1934*
WTOMIlfGì
Joly IS, 20, 1934.
Kesna«m
VkeatlaM
Borland
Gillette
)
)
«Tuly lß» M , 1934*
Jmly Iß» H , 16, 18, 81
1934.
-7-
m t m of
ttmmJMk:
l& se r tlo
m
Conway
8 rt « l
juiy
%
C la r k » r ill«
m*W %
levleburg
July IS* 19, 1934.
1
is* i m *
fj
U t 14, 16» IS* 1934.
Lawreiicalmrg
July 13* B0, 1934.*
KeKensie
Bromerllle
Brut»
Teague
tbarteii
i
July 13, » , 1934
Berger
Hendereen
1
1
M i ? IS, 1«, U , 18
Bayton
s
)
July U , IS, 1934*
1
July 8, 11, 14, 1*.
i
)
July 4, 13, 1934.
Loekfcert
iSSJiPiSTS
39* AXdime
91^1114,1,
Cfeat&e*
Orange
«
|
Wmtmm
July 3* IS* 1934*
Beterefcerg
f i I f f, 11, U , 1«, 18, 185*,
July 11, 18, 1934.
Bremerton
X.lM
It* Ternon
i
}
M l
FayalXuj»
'Greener
1
}
i .i
•
July 13, ¡8», 1834.
IS, 14, 1«, 18, 1834
9T80IKIA
|ipi
M l
8, IS, 18, 1834.
atoteosi(
M l
IS, 19, 1934.
-6
im tm m
Ballimi*
0«tt*Y«
¥*2»*lco&*4a
Î
i
i
Baraaavlil«
loudonrUle
MMrap
*««t*rrtll#
)
i
î
i
#f ï n m r t l o n » *
July 9, ÉÉfc 14, 16, It, I f M *
Jal/ U , 1», 1934.
Cayabo#« Falla
Jalf 15, so, ì t M
ù w r w t llm
Jmiy », IS, IS, 1934
T Hugo
Afmdarkii
Claraaar«
& k City
?
i
1
ttaaryatt*
lÜtll
»
1
Jal, la, 14, le, 13, 81, 1934
Jal, 13, SO, 1934.
« f
Paul« Vall«y
18, 19, 1934.
QWW&wm 1
Jal, 13, 80, 1934.
öraat« Tmmm
j
1
July It, 19, 1934*
Ü*«i>*rg
Broms* 111*
Colimbi*
M
dpppftptang
1
1
*
jalar », 11, 14, le, 1*. 1934.
Clark Garnit
MeSosaId
)
1
Jalar 13, 80, 1934.
Hortbaast
1*4 L i m
)
m u t m r iX lm
î
July IS, 19, ¡ R P
Sulla« Qrov*
RHODE ISLAND:
Provideno«
July 9, 11* 14, 16, 18, 1934#
BATES et THSSRTÏ03HS
usarsi CABOLIRA!
Franklin
Graham
Hoanoka Rapida
?
)
i
M ] f 12, 19, 1934.
Alheñarla
July 19, 13, 1?, 1934
Morgaatoa
July 13, 20, 1934.
MSM OF msmTlQUB
July 5, 1*. 3.9S4*
JO ± * v o k
T rm o a t
1
Plymouth
)
July 5, 13, Xt34*
MTSMEÖO1!*!^
July #, 15, 1554*
Oloquat
UJSSiaSIPHx
Bay st* Lumia
Lomiarili#
FMlmialfMa
Starkrill#
I
July 13, *0, 193d.
!
.i-
July 13, 19, I»®**
ludi amala
MtSSOOSIX
July 15, It, 1554*
Viudaor
July 11# It, 1534*
Dillo»
July 15, It, 1534*
Glandi
mm ummiltiÊL
July 5, 13, H Ä *
Meredith.
July 14, »
Plymouth
ciiftom
1
Cranford
Garfield
}
Pitman
Cliffside Park
m
10
July 13, It, 1534.
1
July 15, 30, 1534*
Mount Bally
la« Brmaariak
1535*
)
)
July 13, 14, 15, 15
BK:
Fredoaia
Far Buakauay
HarerstraW
fìudsoa Fall#
July 15, 20, 1534.
July It, 15, 15, 1534,
July F, 14, 1954*
M f
15* It, lt54#
•3-
DATES
m
m
s
m
T
i
o
I i imAt (ooiitiaued)
AlgOS»
Mt* Pleasant
)
S to rm
Osceola
Laic#
)
)
July 10, 1 1 , XiS4*
Oresoo
Waverly
I
y
m y
X»
I
i
)
)
M l
13, 19, 1934.
July 12, 19, 1934.
m $
1934.
KlMSASî
Beriagton
Liberal
Lindsborg
Marysvill#
July 12, 14, 1«, IS, 21, 1934.
Fredonia
IS!WS£ïi
Russellville
Pineville
i
July » * 1», 1934.
î
July 10, 13, 17, 20, 1934.
Princeton
L0tJÏ3ÏMA5
Do Bidder
Tallulah
Wlnnflfcld
1
m y
13, 30, 1934.
I
afl g j
Farm! agio#
July 10, IS, 17, 1934.
Westbrook
July 10, 13, 14, Id, it, 1934«
Hyatt»Till#
Inly 4, 13, 1934«
JKiU^OivVUlUOX»iiM.
Arlington
Gardner
)
)
July ft, 9, 11, 14, 1ft, 1934.
Denver#
Great Barrington
West Springfield
)
)
)
July 6, 12, 1934.
Peabody
)
)
July 6, 13, 1934.
SoMrvill#
}
m
I
CBOaSIA:
» a s
Cairo
Covington
)
)
Eastman
Calhoun
Decatur
Yidalla
Winder
}
)
)
>
)
—
Blae&foot
Wallace
July 6, IS, 193«.
/
I
Sip* 8 , IS, 1934.
July 4, 11, 193*.
Bexley
)
I
m
/
July 9, 11, 14, IS, 18, 1934,
>Io:
Caluiaet City
Eldorado
Galesburg
Herrin
)
2
I
)
M |
ft, 9, IS, 14, 1ft, 1934,
\
Gillespie
Inly 13, 30, 1934.
PiU«Ti»l*
inly 4, ll\ 1934.
\
Vandalia
Wataa&a
)
)
I
July §..f 13* 1934«
Melrose Park
\
g&j.
Attica
Aurora
Croon Point
Kapanee
July 14, Si,. 1934.
)
\
Inly IS, 19, 1934.
)
Culver
July 11, 18, 1934*
Martinsville
July 13, 20, 1934.
Alexandria
Columbia City
Tipton
)
)
)
July 9, IS, 14, 1ft, 18, 1934.
Onion City
Jnly 9, 12, 1ft, 1934.
Harlan
July 11, 18, S1, 1934
IOWA:
-îfeiSi I".ÿ .'
ï'¿S
B » t w af Insertions.
Brewton,
K
:1
Tu&kegee,
Marion,
Clanton,
Russellville,
Fairfield
July », f, 13, IS, l i
ÂRiaQMAi
1934.
/
Flagstaff
ARKANSAS;
Oaeaola,
Ben tannile,
OlarksTilla,
Warren,
Malvern
* “ r *
T
í « * y •» « »
1934*
July 3, 9, lfi»\)LS, 14, 1934.
CALIF ÛBHIAî
Huntington Park,
Loa Angelas,
Ban Mateo,
South Oat#,
July 18, 14 , t t » W
Sebastopol
July IS, 80. Í934. \
fraey
July IS, 19, SO, 1994.
si. 1934.
COLORADO:
Longmont
CQRHlCTIStJT;
Fairfield
July 9, 14, 1934.
Mae Milford
July 18,/19, 1934«
florida:
Farrar
\
/
I
s
July IS, 19, 1934,
j
Tallahassee
West Pain Beach
July IS, 14, 13, 18, 81, 1934.
__
° j? ^ 4
IlH;
¡¿«ÉÉ
\
^
\
" ¡0
\
v V ^
c?'áj
P*
u ^
u
V»
9 1
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
tfuly 2, 1954.
Press Servies
No. 2 * 14'
Following is a list of cities and towns in which proposals for
sites for post offices and other public buildings will be invited in
advertisements within the next few days:
ALABAMA
Brewton
ARIZONA
Flagstaff
TREASURY DEPARTMENT
Ì
Washington
FOR IMMEDIATE RELEASE
July 2, 1934.
Press Service
No. 2 - 1 4
Following is a list of cities and towns in which proposals for
sites for post offices and other public buildings will be invited in
advertisements within the next few days;
ALABAMA:
Brewton
Tuskegee
Marion
Clanton
Russellville
Fairfield
ARIZONA:
Flagstaff
ARKANSAS:
Osceola
Bentonville
Clarksville
Warren
Malversi
FLORIDA:
Perry
Tallahassee
West Palm Beach
GEORGIA:
Cairo
Covington
Eastman
Calhoun
Decatur
Vidalia
Winder
Baxley
IDAHO:
Blackfoot
Wallace
CALIFORNIA:
Huntington Park
Los Angeles
San Mateo
South Gate
Sebastopol
Tracy
COLORADO:
Longmont
CONNECTICUT:
Fairfield
New Milford
ILLINOIS:
Calumet City
Eldorado
Galesburg
Herrin
Gillespie
Pittsfield
Vandalia
Watseka
Melrose Park
- 2 ~
INDIANA.:
Attica
Aurora
Crown Point
Napanee
Culver
Martinsville
Alexandria
Columbia City
Tipton
Union City
MASSACHUSETTS:
Arlington
Gardner
Danvers
Great Barrington
West Springfield
Peabody
Somerville
MICHIGAN:
Allegan
Fremont
Plymouth
IOWA:
Harlan
Algona
Mt. Pleasant
Osceola
Storm Lake
Cresco
Waverly
MINNESOTA:
Cloquet
MISSISSIPPI:
KANSAS:
Herington
Liberal
Lindsborg
Marysville
Fredonia
Bay St. Louis
Louisville
Philadelphia
Starkville
Indianola
MISSOURI:
KENTUCKY:
Russellville
Pineville
Princeton
Windsor
MONTANA:
Dillon
Glendive
LOUISIANA:
De Bidder
Tallulah
Winnfield
MAINE:
Farmington
Westbrook
MARYLAND:
Hyatt sville
NEW HAMPSHIRE:
Meredith
Plymouth
NEW JERSEY:
Clifton
Cranford
Garfield
Pitman
Mount Holly
New Brunswick
Cliffside Park
3
NEW YORK!
RHODE ISLAND:
Predonia
Par Rockaway
Haverstraw
Hudson Palls
Providence
SOUTH CAROLINA:
Conwssy
Greer
NORTH CAROLINA.!
Pranklin
Graham
Roanoke Rapids
Albemarle
Mbrganton
TENNESSEE:
Clarksville
Lewisburg
Lawrenceburg
McKenzie
.Brownsville
Erwin
OHIO:
Bellevue
Geneva
Wapakoneta
Barnesville
Loudonville
Pomeroy
Westerville
Cuyahoga Palls
Orrville
TEXAS:
Teague
Wharton
Borger
Henderson
Bayton
Lockhart
OKLAHOMA!
VERMONT:
Hugo
Anadarko
Claremore
Elk City
Henryetta
Wewoka
Pauls Valley
St. Albans
VIRGINIA:
Chatham
Orange
Marion
Petersburg
OREGON:
Grants Pass
McMinnville
Newberg
PENNSYLVANIA!
Brownsville
Columbia
East Stroudsburg
Clark Summit
McDonald
Northeast
Red Lion
Selins Grove
WASHINGTON:
.
Bremerton
Kelso
Mt. Vernon
Puyallup
Prosser
WEST VIRGINIA:
Logan
Richwood
WISCONSIN;
Richland Center
West Bend
Whitewater
Kankaima
Ladysmith
WYOMING-:
Keramerer
Wheatland
Norland
Gillette
PAGE U
bals. of Gals. of
Value of
Dist.
Stills
¡Spirits Mash
j Autos 1Tracks Property
Ho.
State ! Selzed-L(^pao,i.t^ Seized-. Sei zpii
S p . i ?!Pd ¿Seized..,
10
(cont)
N.Mex4
TOTAL L
11
'
V.Ä i
•»
485
S
Cal. 1
„HP
4m
1
■
..60»
3,575
Value of |
Property j
.Ds.§.t.rpyed.L Arresta j: •
rđ
m
06
2
-06
5
9
1
66-
tâmtm
firi'WJ«:
i
6
«6
$6
«;
66
ta*.;
fe,:êSSf.
*»d
,,66
$6
i
i
Nev. 1
s
1
TOTAL I
12
Wash.
IS
’Hi#----- h------reported
1,999
j
«
8
Ore i
j
Ü
mm
a*
6
124,000
.166
2f525
166
166
$68,935.
6
(sa !
2«
j
4$860*i
m
1
«sas.!
♦
!
$28.
Zs
a».;
m
f
457
1
Mont.I
Idaho !'
total!
GRAND
TOTAL 1
*
f
156
m
I
430
502
2,873
48,229
22,198
365,940
266
(
Äasa# Seizure of 25 ~ 50
®*X *
fff**
• 0flk® * * 80
!
-
I
5
*
j 66
If
fl ,507.j
6 M > 4 $44,213 1
»Ull«|3fep t*»;lärit©d sifctea 107
|«al# 4 n m e of a o M s e * , 6 8 eng>V 60 gal. dru*» Îbuad là « warehouiie &%
■ * * < * ■ « made l. e m n e a t i o a « U h the
»oojuhiise eooloer, « ¡ * BO g*. bfcla. of
m i m i
» of a 20 0 0 -L-. _______
**1 * *1#OÌl01
0 ala. of jaaab. and
f
i
\
PAG E 3
Value of|Value of
Gals, off Gals, of *
Trucks
Property'Property
Spirits ] *'ash - |Autos
Stills
Dist.I,
Bes.troy ed..i....Arr.e.s.t.s..
%o . •State; Seized ;Capacity.¡.Seiyed.¡....Seized.. j...Se.ized...j...Seized. .Seized
j
1 ’
i
7
(cont) '} Ind.l
——-—---- sih*.---,— -r
S
f
mm ,#
.
mtfe»-4
m—— — p -------- .--------#
wm
S D.'
¡1
.
..
*
1 'inn.:
'r *
■■"'T'
n
TJpfb . -r m i: —
m
TOTAL
9
Kan.
Okla.
aw
so»
w m
s»
■ ~
m
~
■m
ft
§N*»
aw»;
ft
m
«a»
«K.
ft
a
-
n§a*;
#
j
»
i m
m
m m *
•p«
i
3Q
a
P*
m m
jp
SB
taw*
ft
4»
#
ft
ap
m
say*»
« 1
m
mm
I
«
¡8
-----...\S5*'o
4
191
—
a
■tr
-jwMSL
--r-..K
j
111
1
ft
18
m m
mmm
m m »
—
«8
m&m-----•
m
Wyn ,
m
TTtak
i
Ariz.
Pa
------
*
pa
$
Colo
•
■
t
Ark.
10
ftp
£#f9ft
»
w
TOTAL
#>
m
m
.
Mo •
m-
m
ft
1
4R
m
$.
m
lys»
Ml
m
at
m
1
m
f t ,
aaa
ft
pa
m
«a
ap
pft.
n
____ m
.IP;..
....pa... ...
m
m
-
m m
ft
m m
ft
m m
m m
f
« * »
syw»
m
*
aw
■
*
*
a*
-«ft
ft
ft
... ft-
||jk.
..~4.— i*
FAGS
Diet..
%
(cont)
Stills
State.... . Seized. .
l..... ..:.;.. ..... | j..... ..m
Value of iValue of I
pals, of;Gals, of
Tracks Property iProperty j
Spirits IMash
I Autos
i Caeacitv Seized..!Seized. 1 Seized .Seized. ...Seized.. L.Destr oyed iArrests
:8 ftl
\
4
D.C.
ski
m
TOTAL
2
■
!
M
;
m
m
»j
**»«*
; »
*
m
f
11*880» :
W8&*
M
%
- - - - - - - - - - - - - - - - - ■- - - - - - - - - - - - - - - - - -
m
m
La.
%
w m l w*m&
!
*►
4*
IMSt*
t o *
IP
% n $
\
a
m
m m *
a.ffft
nwip.1,1 1,11
so
\
&
m
a * * « , i -a*s£3 .
a
«►
•
i
TOTAL
6
m
ft
4 ^ M
M S
* j m
»
1M * B
xm
- - - - - - - - - - - - - - -
•
..Mich,
*
!
1
Tex.
?m
f
i
IISEf
»
m
1
m
;
«MS®
\m*$m
1- - - - - - - - - - - - - - - - - -
;
pi
*
Ala.
Miss.
im
|
........ . .
'
1*
1 M # m
m
>
a I
as ; m
Ky.
i
:
sa
i' **9™*
TennJi
Ohio
a
am
m.
■m.
m
m
m
m
i
m
% ? m
~
w
&
1 MJ&&&
**** \ *"p***w
iaWWWjP'
a
P
wm
““
%m*
IMs*»| 4 M * »
%
“f l P "- W IP“
j
i
;. . . . . .
Fla.
•iSas
a
m
?
Ga.
?
5
»
jo
- - - - - - - - - - - - - - - - - !- - - - - - - - - - - - - - - - - - .
M
TOTAL I
%
a
—
7
Wis.
111
1
$
#P
.
.
*>0»
mam.-.
mfmmm
m
:
am
; .^fenmm
..
mm
- - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - 1- - - - - - - - - - - - - - - - i- - - - - - - - - - - - - - - - - - - - - -
a
**
a
m
|g
n
m
■0,
A C T IV IT IE S
O È KEGTTLATÏV 'E
COMPILED FROM
IN S P E C T O R S
f o r w eek
Fonp. L-191._____________
e is E L liig ¡T u n e
& 3,
1 9 5 4 ,
j
Gals, of Gals. of
1
List.
(Spirits Mash
| Stills
; Autos (Trucks
State I Seized.j-Capacity- (Seized__
$0 .
10
^cont)
mm
U.Mexj
1
TOTAL !
11
492
3,575
Value of (
Property I
Destroyed ! Arrests !
mm
#1, 425«
2
#700 j
18
!
Cal. U
Nev,
\
1f
\A
ì
124,000
148
Wash, i
2
40
228
Oi"Ci
®
260
180
5
130
194
10 0
430
602
2,873
5
48,229
22,198
385,940
89
to
1,999
j
to
not
!reported
TOTAL 1
12
455
Value of
Property
1
2,625
3
|
-
#68,935.
#585 j
24
I
#240«
#2 2 0 «
5
1
$635,
#283.|
6
#632«
#28«!
22
|
#1 ,507.
J #531*|
33
I
457
|
Wont.j
Idaho|
TOTAL!
GBAUD
TOTAL!
10
1
j 17
#175,809.
gÉ?
j
#i|4,213 |
Average capacity jof stills] for the( United States 167 galis«
j
Mass« (Seizure ( 25 - 50 ga1 * druins of molabses, 6 8 ;empty 5 0 gel« dru as found ijn a warehouse at
(Framingtè>n, Mass«
B*I* (Seizure 3f molasse s above mjaitioAed made in clcnnectiqn with the seizure o|f a 2 0 0 0 feal* alcohol
(cooker, kt 50 gal« }aoonsh.inei cooker, 3| - 50 gal* bbls« of molass es, 2 0 ,0 0 0 (gals* of| mash and
idistillejiy equipme]it in a b a m on thej Fairweather farin, Curran Road, Cumberland, R(*I*
N.Y« (Seizure iaade of 1 jsmall winery and 150 gals* (of wine*
i
:
:
j
:
'
:
j
;
•
.A j
§
■i
PAG-5 3
7
(cont)
g
Stills
Ind.
4
TOTAL
13
500
4,145
Trucks
Seized
Autos
Seized
467
2,450
1
5,036
39,630
5
-
<•
m
¥ D
$680* !
»
12
31
..... ..>— — --- ——1
1«
-
1
11
:
$4,361*
6
335
165
890
2
mm
$660*
50
103
300
1
—
iV'J.Xili•
1
$100.
#0«
6
TiTo'K
2
65
47
1 ,6 0 0
2
$328*
$103«
4
!mm
10
\
.
31
j
TOTAL
9
450
XV
Tdll
qtì 9
X
1
20
Uüla •
4
mm
343
2,790
5
-
$1,088.
#3|73.
;
. : |
:
■
l
j
20
2
m
§125*
92
1 ,7 0 0
3
mm
$472*
$372.
15
I
|
471
13,850
4
1
$ 3 ,3 3 1 *
$ 2 ,8 5 8 .
30
j
|
2
800
—
~
$L35. j
$¡135.
2
j.
|
$4,043. |
$3,^65*
48
1
$800*
. -^r-
•
io
not
re pea? ted
1
10
|
.
. 1
j
$450*
$450«
4
.... §175,
till»
3 .... L................ 1
MU•
IS *
-r»lr
JtA
IX
xL*
3
3,230
not
reported
20
3,250
566
16,370
9
1
1
2
150
111
200
2
j
»
y U«
T
otV
i
VT1-V
Vc
ii
1
5
Pol
UUiUn .
Ariz.
3
300
mm
TOTAL
10
Ill,580*
B k *
c P
28
9
Vaine ofl Val-ue\ of I
Property !Property
Destroyed...
to
•"
Dist.
CV
ol-1+•c
o
XTo
O oc
Gals, of Gals, of
Spirits Fash
9m
310
....... 71
2
*1 Brewery seized*
*
25
3 ,0 0 0
350,„
mm
... ,
- f
i !
.1
.j
...
________________
PAGE 2
Value of ]Value of
bals. of Gals, of
Trucks Property fProperty
Autos
¡Spirits Mash
Stills
Dist .
Destroyed Arrests I . ...
..Ssu . State...] ...Seized... „..Capacity..iS.eiz.ed.. .Seized..... ...Seized. Seized Seized,
i
not
24
k
$1,550# | $850.
4
15,750
292
.reported
4
(cont) D.C. 1
79
|
$7,284. I $4 ,17 5?•
1
11
74,026
P 1,817
98
60
1TOTAL
j
.. .... ...
!
........
Î
5
24,994
3
1
$3,671# ) $3,087#
3°
272
18,870
«
1
$4,797# 1 $4,797.
13
S3
8,410
4
-
$2,440#
$1,530#
20
765
81
3,900
5
1
$1,750,
$1 ,0 2 $#
17
7
415
96
4,146
3
mm
$754#
$624#
15
10
1,035
7,350
9
1
$8,605.
$1,340#
37
i
1 67,670
24
3
$16,017# $12,401#
132
-
mm
#920 è
$92Q#
3
2
-
$861.
$186#
4 i
«
-
#1,465#
$l,46j5*
17
1
1
. $2,435#
$1,485
10
j_
1
' $5,081#
$4,056#
34
j
Fla.
29
. 3,594
Ala.
21
10,310
Miss.
12
La.
1,070
2
45
j
49
750
'!
15
687
j
153
7,730
1 ,1 0 0
280 !
2,830
|
—■
Tenn.
13
TOTAL i
35
Wis.
111
j
5
!...
7
363
19,164
Ohio
Ky.
j
108
Mich.
¡ . „ . . . V ,„ L
!
-------------------------------------------
TOTAL
6
!:
1-------
Tex.
j; ; ;
365
3,045
Ga.
29
.
1,765
243 f
1 2 ,0 0 0
1------ * 3,567
■
725 1 23,310
3
■
3
2,050
4,018
i
25,200
1
6*
1,595
551
f
11,980
3
-
$4,950# I $2,700
$5 950 I $i,45q.
,
;
* 1 Brewery and 56 gals# malt liquor seized*
•
10
9
j
j
j
J
ACTIVITIES OF REGULATIVE INSPECTORS
COMPILED PROM
...
................... -....................J
__
Dist
No. (State
jCals. of
^Spirits
Capacity ¡Seized
|Stills
Seized
•;
Oats, of
> Mash
Seized
i
[Maine
i
^
tm
------ ■»-- »f
/
}
mm
-
In . h .
f
—
—
12
850
1
1 Conn.
mm
mm
mm
j
]
-i--».---- H
j
■ ~
m
2,050
1TOTAL
3
2,900
N. Y.
9
I.
mm
1
1
-
trifr
mm
1
#5,975.
. ' .j »
#1 Q0 .
-
a
-
-
_____
1
2
j
#55,
■
1Mass.
1 R.
i
1
_
\
1Vt .
2
Value of j Valuej of
Property ; Property
| Destrpyec Arrests
Seized
Autos \Trucks
Seized Seized
/
1
Week ending Tune 23. lQ34r-
Poim L-191.
150
20,350
1
mm
163
20,350
3
1
#16,480.
41«l).
4,318.
2,692
67,350
1
-
#19, 225.
#3,61W .
1,852 v
1,601
1,596
3
3
#19,169*
$8,55JO.
15
7,600
5,062
54,000
6
2
#3,975,
#1,500.
19
mm
mm
55,596
9
.
#10,450. |
| —p
i—
5
8
16
I--3
1
Pa.
6
}
N. J.
3
1
Del.
j
TOTAL
9
1
Md.
4
1
Va.
|
«•
mm
W
k
1 W. Vaj
i '“'r
N .Car.!
j S.CarJ
1
l
/
mm
mm
i
9f4p2
;
6,663
5
#23,144.
#1 0 , 0 )0 .
34
--------- 1
98
251
1,303
21,785
11
*
1
*
55
*
30
32
.. .-T
8 !
*
1
17
12 0
•»
mm
2
1
#311
#4,300,
10
18
$174.
#3124.
11
#280.
JO.
12
#669,|
24,000
1
12,240
2
♦Capacity not reported.
#2 ,8 ^)0 .
4
|
i
2
-
#3li
_:1
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 2, 1954
Press Service
No. 2 - 15
ACTIVITIES OF REGULATIVE INSPECTORS.
ALCOHOL TAX UNIT. FOR WEEK END INS JUNE 23. 1954.
(Corrected statement based on complete weekly reports
of supervisors.)
List,
No.
1
States
Maine
N. H.
Vt.
Mass.
Conn.
R. I.
Stills
Seized
Capacity
G-als. of
Spirits
Seized
G-als. of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
$
55
Arrests
lv
1
1
12
2
5,975
2
1
.850
2
2,050
150
20,350
1
10,450
5
TOTAL
3
2,900
163
20,350
4
16,480
8
2
N. Y.
9
4,318
2 ,6 9 2
67,350
1
19,225
16
3
Pa.
N. J.
Del.
6
1,601
5,062
1,596
54,000
6
3
1,852
7,600
8
19,169
3,975
15
19
TOTAL
9
9,452
6,663
55,596
14
23,144
34
Md.
Va.
W. Va.
N.Car.
S.Car.
D. C.
4
11
1
32
98
17
1,303
55
30
251
21,785
3
TOTAL
60
G-a.
Fla.
ALa.
Miss*
La*
Tex,
29
29
TOTAL
4
5
4
311
4,300
669
174
280
1,550
2
1
4
10
18
11
8
120
4
292
24,000
12,240
15,750
98
1,817
74,026
12
7,284
79
365
272
23
81
96
363
24,994
18,870
8,410
3,900
4,146
7, 350
4
10
3,671
4,797
2,440
1,750
754
2,605
30
13
10
3,045
3,594
10,310
765
415
1,035
17
15
37
108
19,164
67,670
27
16,017
132
21
12
7
1 ,1 0 0
2
4
6
3
12
24
20
2
Dist.
No.
6
7
8
9
States
Mich.
Ohio
Ky.
Tenn.
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
2,830
750
7,730
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
920
261
1,465
2,435
3
4
17
$
5,081
34
$
4,950
5,950
680
10
$
15
13
280
49
153
243
1 2 ,0 0 0
2
TOTAL
35
3,567
725
23,310
4
Wis.
111.
Ind«
3
4,018
551
467
25,200
11,980
2,450
1
~ 4'
2,050
1,595
500
TOTAL
13
4,145
5,036
39,630
5
6
165
103
47
28
890
300
1,600
2
660
1
10 0
2
328
4
10
343
2,790
5
$ 1,088
31
2
$
2
6
N. D.
S. D m
Minn.
Neh.
Iowa
1
2
335
50
65
TOTAL
9
450
Kan.
Qkla.
Mo.
Ark.
1
Wy.o.
Utah
Colo.
Ariz.
N. Mex.
TOTAL
11
5
Capacity
1,070
45
687
1,765
TOTAL
10
Stills
Seized
Cal.)
TOTAL
2
3
1
$ 11,580
10
9
12
31
$
20
4
12
3,230
3
20
3,250
2
150
5
300
16,370
10
$
4,043
200
2
$
800
111
492
3,575
13
1,999
13
1,999
2
8
455
48
566
25
3,000
350
3
15
30
2
310
71
1
125
472
3,331
135
; - 20
1,700
13,850
800
1
92
471
3
6
11
6
1
2
10
1
450
175
4
3
2
$ 1,425
18
124,000
8
$ 68,935
24
124,000
8
$ 68,935
24
Dist.
No.
States
12
Wash.
Ore.
Monti
Idaho
TOTAL
GRAND TOTAL
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
40
260
228
180
148
2,625
1
3
240
635
5
3
5
130
194
10 0
1
632
22
IO
430
602
2,873
5
$ 1,507
33
288
48,229
22,198
385,940
106
$175,809
457
2
$
6
TREASURY DEPARTMENT
Washington
July 2, 1934.
MEMORANDUM FOR THE PRESS,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1953)
Week ending June 29, 1934:
San Francisco.................. 62,950.61 fine ounces
Denver••••••••••••••••••••••••* 1.096.00
w
n
Total for the week ••••••• 64,046.61
n
n
Corrected figure on total receipts of silver through June 29: 8,560,000 fine ou
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:,
—
Week ending June 30, 1934:
. ______ Imports___________ Secondary------ Domestic
Philadelphia....*....
San Francisco........*
D
e
n
v
e
New York..............
#
.... .
1,906.27
r
-565.00
14,042,000.00
Seattle...............
New Orleans•••••••»...
New
$
...... .
18.996.40
#14,063,267.67
#
389,408.00
30,146.77
20,767.00
435,900.00
20,977,32
54.501.29
951,700^38
521,941.9
354,455.0
19,900.0
20 6 , 214.5
585.71
#1 , 1 0 2 , 877.2
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks: ________ Gold Coin_____Gold Certificates —
Week ended June 27.•••••*••♦•
Received previously.•••••••••
Total to June 27........
#
#
#
#
43,234.74
28.119.111.57
#28,162,346.31
861,980.00
60.452.800.00
#61,314,780.00
Received by Treasurer’s Office:
Week ended June 27..........
Received previously.•••••••••
Total to June 27••••••..
Note:
....
249.194*00
$249,194.00
10,600.00
1.591.500.00
# 1,601,900.00
Gold bars deposited with the New York Assay Office to the
amount of #200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the week ended June 30, 1934:
#4#,500,000.
TREASURY DEPARTMENT?
Washington
July 2, 1934.
MEMORANDUM POR THE PRESS:
RECEIPTS OE SILVER BY THE MINTS;
(Under Executive Order of December 21, 1933)
Week ending June 29, 1934;
San Francisco.••••«••»•<
Denver.
Total for the week
62.950.61 fine ounces
1,096,00 11
n
64.046.61
*
"
Corrected figure on total receipts of silver through June 29; 8,560,000 fine ounces,
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OFFICES;
Week ending June 30, 1934;
Philadelphia.........
San Francisco. ....••• •
Denver.•••••••••••••«•
New Y o r k , ••••
Seattle. «.. ••.....
New 0 rleans
I m p o r t s ______ Secondary
$
............
1,906.27
365.00
14,042,000.00
$
18,996,40
$14,063,267.67
$
New
Domestic
389,408.00
30,146.77
20,767.00
435,900.00
20,977.32
54,501.29
521,941.92
354,435.00
19,900*00
206,214.58
______ 385,72
951,700.38
$1,102,877.22
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE;
(Under Secretary's Order of December 28, 1933)
Gold Coin
Received by Federal Reserve Banks;
Week ended June 27••••«••••«•
Received previously.•••••.•••
Total to June 27*.••••••
$
43,234.74
28,119,111.57
$28,162,346.31
Gold Certificates^
$
861,980.00
60,452,800.00
$61,314,780.00
Received by Treasurer's Office;
Week ended June 27•••••••••••
Received previously.«•••««•••
Total to June 27.«••••«.
Note;
$
$
•••••••
249,194.00
249,194.00
$
10,600.00
1,591,300.00
$ 1,601,900.00
+'p/.$
Gold bars deposited with the New York Asscty Of- ce to
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR TWESTMENT ACCOUNTS;
Total for the week ended June 30, 1934;
$500,000
merits may be secured monthly*
With rising construction costs, in order that there be no inferior
construction, unusual care has been necessary.
Post office building mainte
nance costs have been kept surprisingly low during the past few years,
despite the great amount of public usage received.
Less thaï
r cent
been spent yearly for upkeep* 'High quality
%
materials uood^in believed by Treasury officials to account for this low
A
maintenance figure.
Care is taken in the selection of sites in order to insure the
greatest possible efficiency.
For instance, in selecting a site for a post
office, a representative of the Procurement
vision wip. v i s p the pity
aryj make a survey of available sites^ He will then study traffic, advan
tages of the various locations which may be had, nearness to a railway,
population centers, and other important factors.
In the case of the projects under the $65,000,000 appropriation,
more than 600 more projects were considered than could be taken care of with
the amount allotted.
Some of these may still be selected, as the 502
projects already chosen may not exhaust the entire sum.
- 3 -
Some of the larger projects In this Division of the program are
Ellis Island, N.Y., Immigrant Station; Galveston, Texas, Quarantine Station*
Reedy Island, Delaware, Quarantine Station; Honolulu, Hawaii, Quarantine
Station; New York, N •Y., Quarantine Station and Washington, D.C., National
Institute of Health,
The fourth division of the program is the hold-over building, the
remnants of the program commenced under the Enabling Act of May, 1926,
Eight hundred and fifteen projects were included in that program.
One
hundred and thirty-five remain under construction at the present time.
The
total of the obligations involved in this construction is $33,468,000.
These projects will be rushed to completion just as speedily as conditions
permit.
Because of the state of the real estate market during the last year,
the Treasury Department has been able to make many advantageous purchases
of sites.
On the other hand, many original estimates of construction costs
had to be revised because of increases.
The Division of Procurement esti
mates that building costs have risen approximately 20% since July 1, 1933.
The market appears to be somewhat more stable at the present time, making
substantival progress possible during the coming months*
The present program had its inception March 4, 1913, when Congress
made a specific authorization for the purpose.
Since that date it has
appropriated to the Treasury $598,799,572, and of this amount $409,397,529
has been spent up to June 22,
Ail
projects under the program are contract projects.
does not recognize sub-contractors.
The Treasury
Payment on contracts is made the first
of each month after operations begin, less ten per cent, which is payable
upon completion.
After the project is fifty per cent completed, full pay-
z
-
-
In the second group or division of the program are those projects
for which funds have been allocated from other sources«
There are 466
such projects, authorized at a total limit of cost of $67,410,788.
Forty-
nine of these are already under contract, involving an expenditure of
$24,442,742 or 57% of the total.
Eighty-two projects in the second division are in the market for
bids, or in the specification stage.
or
12 %
The amount involved is $8,006,295,
of the total allotment.
Two hundred and seven projects are in the drawing stage, amounting
to $17,041,516, or one fourth of the total.
One hundred and twenty-eight projects are in the site stage, involving
$17,920,255, or 26% of the total.
Branch post offices in the principal cities
will be approximately $14,000,000 under this item.
Out of the $67,410,788 fund for the second division of the program,
$4,851,627 or 7.1% has been disposed of through expenditures; 29.5% or
$19,591,115 is now under contract for immediate construction.
In the third division of the program are those projects to be paid
for out of funds transferred to the Treasury from other Departments.
are 55 projects in this division and the limit of cost is $1,711,865.
have been placed under contract projects totaling $1,249,250.
There
There
The value
of the work on the market, or in the specification stage, is $275,851.
The
remainder, totaling $186,784 is in the drawing stage.
These funds transferred from other Departments involve rehabilitation,
extension and remodeling of old buildings, construction of new buildings,
repairs to sea walls, and similar undertakings.
TREASURY DEPARTMENT
Washington
/
The United States Treasury Department has 195 buildings already
/
under construction as part of the Treasury construction program, it was
announced today.
These buildings, mainly post offices, involve the
spending of approximately #52,000,000.
The Treasury Depan
in charge of the erection of Federal
buildings, has in hani^approximately 900 building projects.
The amount
which will have been spent when all are completed is in excess of
$167,000,000.
More than $110,000,000 of this amount has just recently
been allotted and appropriated in order to help relieve unemployment
throughout every section of the country.
The Treasury is bending every effort to expedite the work of
getting this new group of projects under contract and under construction.
It is estimated by the Division of Procurement of the Treasury that more
of the total number of projects in the whole program will
than two thirds <
be completed or under construction by winter, unless unforeseen circum
stances arise.
The building program is now being carried out in four separate
divisions, paid for from four separate funds.
The first division of the Treasury building program comprises the
502 approved projects to be paid for out of the $65,000,000 appropriation
allotted by Congress June 19, 1954, for which sites will be selected and
plans prepared as soon as possible in order that contracts may be adver
tised and completed at an early date.
TREASURY DEPARTMENT
Washington
RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, July 4, 1934._____
7-2-34
Press Service.
The United States Treasury Department has 193 "buildings already
under construction as part of the Treasury construction program, it was
announced today.
These buildings, mainly post offices, involve tne
spending of approximately $52,000,000.
The Treasury Department, in charge of the erection of Federal
buildings, has in hand in all approximately 900 building projects.
The
amount which will have been spent when all are completed is in excess of
$167,000,000.
More than $110,000,000 of this amount has just recently
been allotted and appropriated in order to help relieve unemployment
throughout every section of the country.
The Treasury is bending every effort to expedite the work of
getting this new group of projects under contract and under construction.
It is estimated by the Division of
Procurement of the Treasury that more
than one half of the total number of projects in the whole program will
be completed or under construction by winter, unless unforeseen circumrstances arise.
The building program is now being carried out in four separate
divisions, paid for from four separate funds.
The first division of the Treasury building program comprise
303 approved projects to be paid for out of the $65,000,000 appropriation
allotted by Congress June 19, 1934, for which sites will be selected and
plans prepared as soon as possible in order that contracts may be adve
tised and completed at an early date*
-
2
-
In the second group or division of the program are those projects
for which funds have been allocated from other sources.
There are 466
such projects, authorized at a total limit of cost of $67,410,788.
Forty-
nine of these are already under contract, involving an expenditure of
$34,442,742 or 37$ of the total.
Eighty-two projects in the second division are in the market for
bids, or in the specification stage.
or
12 $
The amount involved is $8,006,295,
of the total allotment.
Two hundred and seven projects are in the drawing stage, amounting
to $17,041,516, or one-fourth of the total.
One hundred and twenty-eight projects are in the site stage, involving
$17,9k),235, or 20$ of the total.
Branch post offices in the principal cities
will he approximately $14,000,000 under this item.
Out of the $67,410,788 fund for the second division of the program,
$4,851,627 or 7.1$ has been disposed of through expenditures; 29.3$ or
$19,591,115 is now under contract for immediate construction.
In the third division of the program axe those projects to be paid
for out of funds transferred to the Treasury from other Departments.. There
are 33 projects in this division and the limit of cost is $1,711,865.
have been placed under contract projects totaling $1,249,230.
There
The value
of the work on the market, or in the specification stage, is $275,851.
The
remainder, totaling $186,784 is in the drawing stage.
These funds transferred from other Departments involve rehabilitation,
extension and remodeling of old buildings, construction of new buildings,
repairs to sea walls, and similar undertakings.
- 3 ~
Some of the larger projects in this Division of the program are
Ellis Island, U, Y., Immigrant Station; Galveston, Texas, Quarantine Station;
Beedy Island, Delaware, Quarantine Station; Honolulu, Hawaii, Quarantine
Station; Hew York, H. Y., Quarantine Station and Washington, D, C., National
Institute of Health,
The fourth division of the program is the hold-over "building, the
remnants of the program commenced under the Enabling Act of May, 1926,
Eight hundred and fifteen projects were included in that program.
One
hundred and thirty-five remain under construction at the present time.
The
total of the obligations involved in this construction is $33,468,000.
These projects will be rushed to completion just as speedily as conditions
permit.
Because of the state of the real estate market during the last year,
the Treasury Department has been able to make many advantageous purchases
of sites.
On the other hand, many original estimates of construction costs
had to be revised because of increases.
The Division of Procurement esti—
mates that building costs have risen approximately 20$ since July 1» 1933.
The market appears to be somewhat more stable at the present time, making
substantial progress possible during the coming months.
The present program had its inception March 4, 1913, when Congress
made a specific authorization for the purpose.
Since that date it has
appropriated to the Treasury $598,799,572, and of this amount $409,397,529
has been spent up to June 22.
All projects under the program are contract projects.
does not recognize sub-contractors.
The Treasury
Payment on contracts is made the first
of each month after operations begin, less ten per cent, which is payable
upon completion.
After the project is fifty per cent completed, full pay
ments may be secured monthly.
- 4 -
With rising construction costs, in order that there he no inferior
construction, unusual care has been necessary.
Post office building mainte
nance costs have been kept surprisingly low during the past few years,
despite the great amount of public usage received.
Loss than one per cent
of the cost of the buildings has been spent yearly for upkeep.
quality of materials and construction
The high
is believed by Treasury officials
to account for this low maint ©nance figure.
Care is taken in the selection of sites in order to insure the
greatest possible efficiency.
For instance, in selecting a site for a post
office, a representative of the Procurement Division will visit the city,
and make a survey of available sites cooperating with postal authorities.
He will then study traffic, advantages of the various locations which may
be had, nearness to a railway, population centers, and other important
factors.
in the case of the projects under the $65,000,000 appropriation, more
than 600 more projects were considered than could be taken care of wi
amount allotted.
Some of these may still be selected, as the 302 projects
already chosen may not exhaust the entire sum.
~ 2 ~
Wo lice n se i® accessary to export .article® fab ricated from s ilv e r , for«
s ilv e r cola» asid ore sad a e ta ls containing s ilv e r i s r e la tiv e ly m & kl aaouati
'bat, except t a the case o f foreign s ilv e r co in , an a ffid a v it i s required to
be
file d v ith the co lle c to r o f <Kt*tORS a t the port, o f export o r the postaast
a t the place o f s a ilin g before the .silv er aay bo exported*
Pits
heisour
mpAuner
WASHIKGTOI
H i IMMEDIATE BUEASE.
Press Service
J W y 5, 1934*
So.
the Acting Secretary of the Treasury, pursuant to authority conferred upon him by the Order of the Secretary of the treasury relating to
silvery approved by the President June ZKJ, 1934» today (jfaly 5) prescribed
regulations for licensing the exportation of silver*
Applications for licenses are, in certain cases» required to be
filed with the Federal Beaerve bank for the district la which the applicant* i
residence or principal place of business is located, while in other cases
they are required to be filed with the United States lint or assay office
nearest the applicant1s residence or principal place of business*
licenses nay be issued authorising the exportation of silver which,
(a) is required to fulfill an obligation to deliver such silver
outside of the continental United States, incurred or assumed by the ap
plicant on or before June 28, 19341
(b) has been owned on and continuously after June 28, 1934# by a
recognised foreign government, foreign control bank, or the Saak for Inter
national Settlement©!
(d)
was imported in silver-bearing materials under an ^gree
to refine such material© and export the silver so refined! or
(d) is of a fineness of not more than 800 parts of silver in 1,000
by assay*
The Secretary of the Treasury may, with the approval of the President, als®
issue licenses authorising the exportation of silrer ¿ter purposes other tha#
those above enumerated which are not inconsistent «1th the purposes of tbs
Silver Purchase Act of 1934*
No license is necessary to export articles fabricated from silver, fore:
silver coin, and ore and metals containing silver in relatively small amount
but, except in the case of foreign silver coin, an affidavit is required to
be filed with the collector of customs at the port of export or the postillasti
at the place of mailing before the silver may be exported.
TREASURY DEPARTMENT
WASHINGTON
RELEASE*
^
Press Service
No. zx ~ t
\
-j- r ^ 3 * / The Acting Secretary of the Treasury, pursuant to authority con
ferred upon him by the Order of the Secretary of the Treasury relating to
silver, approved by the President June 28, 1934, today (July 5) prescribed
regulations for licensing the exportation of silver.
Applications for licenses are, in certain cases, required to be
filed with the Federal Reserve bank for the district in which the applicant1
residence or principal place of business is located, while in other cases
they are required to be filed with the United States mint or assay office
nearest the applicant’s residence or principal place of business.
Licenses may be issued authorizing the exportation of silver which
(a) is required to fulfill an obligation to deliver such silver
outside of the continental United States, incurred or assumed by the ap
plicant on or before June 28, 19345
(b) has been owned on and continuously after June 28, 1934, by a
recognized foreign government, foreign central bank, or the Bank for Inter
national Settlements;
(c)
was imported in silver-bearing materials under an agreement
to refine such materials and export the silver so refined; or
(d) is of a fineness of not more than 800 parts of silver in
1,000
by assay.
The Secretary of the Treasury may, with the approval of the President, axso
issue licenses authorizing the exportation of si3v er for purposes other tna
n 4*bp
those above enumerated which are not inconsistent with the purposes oi
Silver Purchase Act of 1934*
j
2
So license is aeeosaary to export article* fabricated fresi silver, f©re|
silver cola» m â «re «ad Metals eooiai&i&g s ilv e r i » ral& tivoly a v a il
eaouati
bat, except áa the ca$© of foreign silver cola, a® affidavit is required to
b© filed vith th© collector of costosa at the port of export or the postease
y
a t tb® placo o f f i l i n g before the silv e r iksgr bo exported*
T»E&88i£i D E P A B t M U T
msmamst
wmMmmm m*wm*
Press Service
5, 1934.
Mo*
mwirw
She Noting Secretary of the Treasury, pursuant to authority
coo-
ferred upas hi« by the Order of the Secretary of the treasury relating to
»liver, approved by the President June 2«, 1934, today ( J W y 5) prescribed
regulations for licensing the exportation of silver.
Applications for liceoaoa are, la certain oases, required to be
«.led with the Federal Reserve bank for the district In which the applicant's
residence or principal
p la c e
of business Is located, »hile in other
e « t« » c
thqr are required to be « l e d with the Butted States m a t or assay of«ce
nearest the applicant's rastdance or principal place of business.
Licenses nay be Issued authorising the exportation of silver which,
(a)
is required to fiOftll an obligation to deliver such sil
outside of the continental Baited States, incurred or assused %
plieant oa
or Itme 1934$
before
(h) M s hem
r o c o g n i a e d fo r e i g n
the ap-
2$,
owned
on
gorerm m t,
«act c o n t i n u o u s l y a f t e r
f o reign
om tm l
Im® 2$, 1934, by
a
bank, o r the B a n k f o r later-
national Sottlameats}
(0
was im p orted
in silvar-boaring a&beriala s M d s r an
agreeaent
to refine such materials and export the silver so refined* or
(d) is of a fineness of act acre than £00 parts of silver in 1,000
by assay*
fh® Secretaiy of the treasury
m y,
with the approval of the President, also
issue licenses authorial^ the exportation of silver f&r purposes other than
^io»® above eouacrated which are not Inconsistent with the purposes of the
3 U r ® r Purchase dot of 1934*
8*
*+
TREASURY DEPARTMENT
Washington
relea .
s e , morning papers,
Eriday, July 6 , 1934»
Press Service
No. 2 - 1 6
7-5-34
The Acting Secretary of the Treasury, pursuant to authority conferred upon
him by the Order of the Secretary of the Treasury relating to silver, approved by
the President J\me 28, 1934, today (July 5) prescribed regulations for licensing
the exportation of silver.
Applications for licenses are, in certain cases* required to be filed with the
Eederal Reserve bank for the district in which the applicant*s residence or prin
cipal place of business is located, while in other cases they are required to be
s resifiled with the United States mint or assay office nearest the applicant
dence or principal place of business*
Licenses may be issued authorizing the exportation of silver which,
(a) is required to fulfill an obligation to deliver such silver outside of
the continental United States, incurred or assumed by the applicant on or beiore
June 28, 1934;
(b) has been owned on and continuously after June 28, 1934, by a recognized
foreign government, foreign central bank, or the Bank for International Settlements,
(o) was imported in silver-bearing materials under an agreement to refine such
materials and export the silver so refined; or
(d) is of a fineness of not more than 800 parts of silver in
1 ,0 0 0
by assay.
The Secretary of the Treasury may, with the approval of the President, also issue
licenses authorizing the exportation of silver for purposes other than those
enumerated which are not inconsistent with the purposes of the Silver Purchaso
Act of 1934*
Ho license is necessary to export articles fabricated from silver, foreign
silver coin, and oro and motals containing silver in relatively small amounts, but,
except in the case of foreign silver coin, an affidavit is required to bo
the collector of customs at the port of export or the postmaster at th
mailing before the silver may bo exported*
p
'
REGULATIONS RELATING
TO
LICENSING THE EXPORT OF SILVER
Treasury Department,
Office of the Secretary,
Julÿ 5, 1954.
ARTICLE I
MISCELLANEOUS PROVISIONS
Sec. 1.
Authority for Regulations. - These regulations
are prescribed In pursuance of the provisions of the Order of the
Secretary of the Treasury relating to the exportation of silver,
approved by the President under date of June 28, 1934.
Sec. 2.
Definitions. - As used in these regulations, -
The term "person” means fin individual, partnership, asso
ciation, 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 "export", "exportation", or "reexport" shall be
construed to include transportation from the continental United States;
The term "importation" or "imported" shall be construed to
include transportation into the continental United States, and the term
"importer" shall be construed to include a person transporting silver
into the continental United States.
-
Sec. 5.
2
-
Scope. - These regulations! relate only to exports
of silver from the continental United States.
Sec. 4.
Exportation Prohibited by Other Orders. Etc. - The
provisions of these regulations and licenses issued Hereunder shall not
be construed to authorize any exportation from the continental United
States prohibited by any other order or by any law, ruling, or regula
tions .
Sec. 5.
Penalties. - Whoever wilfully violates any provisions
of these regulations or of any license, rule, or order issued pursuant
hereto shall, upon conviction, bo fined not more than $1 0 ,0 0 0 , or, if
a natural person, may bo imprisoned for not more than ten years, or
both; and any officer, director, or agent of any corporation who know
ingly participates in such violation may bo punished by a like iino,
imprisonment, or both.
ARTICLE II
SILVER M I C H MAY BE EXPORTED
WITHOUT A LICENSE
See.
1
. Fabricated Silver. - Silver contained in articles
fabricated and hold in good faith for a specific and customary use and
not for thoir value ns silver bullion, may bo exported from the continen
tal United States without tho necessity of obtaining an: export license
under those regulations, provided that m
affidavit, shall have boon ex
ecuted on form TS-gO and filed in duplicate with tho Collector of Customs
at the port of shipment from tho continental Unitod States or with tho
Postmaster at the place of mailing; and such collector or Postmaster
shall have endorsed on the duplicate copy of such affidavit that ho is
satisfied that tho shipment from the continental United States is not
being made for the purpose of holding or disposing of such articles out
side of tho continental United States primarily for thoir silver content:
Provided, that persons leaving the continental United States may carry
with them such articles owned by them and for thoir personal use m
fabricated form of a fine silver content not exceeding
10 0
their
troy ounces
without the necessity of filing such affidavit or obtaining an export
license under these regulations*
Collectors of Customs with whom such affidavits are filed shall
forward the duplicate copies thereof bearing thoir endorsements as afore
said to the Director of tho Mint.
Postmasters shall forward the dupli
copies of such affidavits to the Postmaster General for reforwardmg to the
Director of the Mint
*Note:- Section 16(g) of the Regulations issued mder the
Gold Reserve Act of 1934 provides that fabricated
gold, as defined in section 4 of such regulation.,,
4
may be exported or transported from the continental
United States without the necessity of obtaining a
license, provided that an affidavit shall have been
executed and filed as provided therein. Therefore,
in order to export articles fabricated iroin both gold
and silver the exporter must comply with the provisions
of the aforesaid gold regulations as well as with the
provisions of these regulations.
Sec. 2.
Metals Containing Silver. - Metals containing not more
than 50 troy ounces of fine silver per short ton may be exported from the
continental United States without the necessity of obtaining a license under
these regulations, provided that an affidavit shall hrve been executed on
form TS-21 and filed in duplicate with the Collector of Customs at the port
of shipment from the continental United States or with the Postmaster at the
place of mailing; and such Collector or Postmaster shall have endorsed on the
duplicate copy of such affidavit that he is satisfied that the silver content
of such metals is not more than 50 troy ounces of fine silver per short ton.
Collectors of Customs with whom such affidavits are filed shall
forward the duplicate copies thereof with their endorsements as aforesaid to
the Director of the Mint.
Postmasters shall forward the duplicate copy of
such affidavits to the Postmaster General for reforwarding to the Director
of the Mint.*
*Note:- Section 17 of the Regulations issued under
the Gold Reserve Act of 1954. provides that
metals containing not more than 5 troy ounces
of fine gold per short ton may be exported from
the United States only under a license issued
pursuant to article III of such regulations.
Therefore, in order to export metals contain
ing both gold and silver the exporter must com
ply with the provisions of the aforesaid gold
regulations as well as with the provisions of
these regulations.
t>
Sec. 3.
Silver Imported for Prompt Reexport. - Silver imported for
prompt reexport, (regardless of whether the importation occurred before, on,
or after June 28, 1934) may be exported from the continental United States
without the necessity of holding a license therefor, provided it remains
under customs custody throughout the period during which it is within the
customs limits of the continental United States.
Sec. 4.
Silver Coin. - Silver coins may be exported from the
continental United States without the necessity of obtaining ft license
under these regulations.'»"
«Note:- The Executive Order of January 15,
regulating transactions in foreign exchange, transiers
of credit, and tho export of coin and currency
prohibits the export or withdrawal from*the
United States of any silver coin which is legal
tender in the United States by any person within
the United States except under license issued
pursuant to that order.
- 6 ARTICLE III
EXPORTATION OF SILVER FROM THE CONTINENTAL
UNITED STATES,PROHIBITED EXCEPT UNDER LICENSE.
Sec. 1.
Licenses Required« - Except as hereinbefore provided in
article II of these regulations no silver shall be exported from the contin
ental United States unless a license therefor shall first have been obtained
from the Secretary of the Treasury, or the agency hereinafter designated, in
accordance with this article or article IV of these regulations.
Licenses may
be issued authorizing the exportation from the continental United States of
silver which the Secretary of the Treasury, or the designated agency, is
satisfied:
(a) is required to fulfill an obligation to deliver such silver
outside of the continental United States, incurred or assumed by the applicant
on or before June 28, 1934J
(b) has been owned on and continuously after June 28, 193-4, by a
recognized foreign government, foreign central bank, or the Bank for International Settlements;
(c) was imported in silver bearing materials undej. Ji agreement to
refine such materials -and export the silver so refined (licenses under this
subdivision are provided for in article IV of these regulations); or
(d) is of a fineness of not more than 800 parts of silver in 1000
by assay.
Subject to the conditions prescribed in these regulations, the
Secretary of the Treasury may, with the approval of the President, issue licen
ses authorizing the exportation of silver from the continental United States
for purposes, other than those specified in (a), (b), (c) and (d) of this Sec
tion, which are not inconsistent with the purposes of the Silver Purchase Act
of 1934-•
Sec. 2.
Application for License.
(1)
Every application for license
under subdivisions (a) and (b) and the last paragraph of section
~ 7 ~
article shall bo made oat on form TS-22, shall bo executed under oath before
an officer duly authorized to administer oaths and shall be filed in duplicate
with the Federal Reserve bank for the district in which the applicant resides
or has his principal place of business.
of section
1
Applications under subdivision (a)
of this article shall bo accompanied by a sworn copy of the con
tract or obligation required to be fulfilled, and a statement under oath (which
shall be attached to and made a part of the application) showing (l) the amount
of silver held by the applicant at the close of business Juno 28, 1934, and at
the time of his application; and (2 ) a list of all his firm contracts whether
for purchase or sale of silver, which at the close of business on June 28,
1934, had not been completely fulfilled by delivery of all the silver therein
contracted for.
Such list shall state (a) the names and addresses of the
parties to each contract; (b) the dates of such contracts; (c) the amounts of
silver contracted for in each contract and the delivery date specified in each
contract; (d) the amount of silver undelivered under each contract at the close
of business June 28, 1934; (e) the amount of silver undelivered under each
contract at the time of his application, but which is required to be delivered
under such contracts.
Upon receipt of the application and after making such
investigation of the case as it may deem advisable, the Federal Reserve bank
shall transmit to the Secretary of the Treasury the original of the application,
together with any supplemental information it may deem appropriate.
The
Federal Reserve bank shall retain the duplicate of the application for its
records.
(2 ) Every application for a license under subdivision (d) of
section 1 of this article shall be made on form TS-23, shall be executed under
oath before an officer duly authorized to administer oaths, and shall be
filed in duplicate with the United States mint or assay office nearest to
tlie residence or principal place of business of the applicant.
Upon receipt
of the application and after naming such investigation of the case as he may
deem advisable, the superintendent or assayer in charge of the nint or assay
office with which the application is filed shall transmit to the Secretary
of the Treasury the original of the application together with any supplemental
information he may deem appropriate.
The mint or assay office shall retain
the duplicate of the application for its records.
Sec. 3.
Issuance of Licenses. - (l) If the issuance of a license
under subdivision (a) or (b) or the last paragraph of section
1
of this article
is approved, the Federal Reserve bank which received and transmitted the appli*» ?
cation will be advised by the Secretary of the Treasury and directed to issue
a license on form TSL-22.
If the application is disapproved, the Federal Re
serve bank will be so advised and shall notify the applicant.
The decision of
the Secretary of the Treasury with respect to the approval or disapproval of an
application shall be final.
If a license is granted, the Federal Reserve bank
shall thereupon note upon the duplicate of the application therefor the date of
approval and issuance, and the amount of silver specified in such license.
(2)
If the issuance of a license under subdivision (d) of section 1
of this article is approved, the mint or assay office which received and trans-*
mitted the application will be so advised by the Secretary of the Treasury and
directed to issue a license on form TSL-23.
If the application is disapproved,
the mint or assay office will bo so advised and shall notify the applicant.
The decision of the Secretary of the Treasury with respect to the approval or
disapproval of an application shall be final.
If a license is granted, the mint
or assay office shall thereupon note upon the duplicate of the application
therefor, the date of approval and issuance and the amount of silver specified
in such license.
ARTICLE IV
EXPORT OF SILVER IMPORTED FOR.
REFINING AND REEXPORT
.Sec. I.
Silver Imported in Silver Bearing Materials for Reexport.« —
The Superintendent of the United States Assay Office at New York or the United
States Mint at San Francisco shall, subject to the conditions hereinafter
specified in this article, issue licenses on Form TSL-24 authorizing tne ex
port of silver which the superintendent of such assay office or mint is satis
fied was refined either from silver bearing materials imported into the con
tinental United States under an agreement to refine such materials and export
the silver so refined, or from a mixture containing such materials.
If the
silver to be exported was refined from a mixture of imported and other mater
ials it shall for all purposes be deemed to have been refined solely from the
imported materials and shall be so treated in the applicant’s accounts and
book records.
Such licenses may be issued regardless of whether the importa
tion occurred before, on, or after June 28, 1954.
Sec. 2.
Notation Upon Entry. - Upon the formal entry into the
continental United States of any silver bearing materials, the importer shall
declare to the Collector of Customs at the port where the silver bearing mater
ial is formally entered that the importation is made under an agreement provid
ing for the export of the silver refined from such materials.
The collector
shall make on the entry a notation to this effect and forward a copy of the
entry to the United States Assay Office at New York or to the United States
Mint at San Francisco, whichever is designated by the importer.
If the
silver bearing materials were imported on or prior to the date of these
regulations, the declaration hereinabove required may be waived, provieed
other satisfactory evidence is submitted in lieu thereof.
- 10 Sec. 3. Sr aoling and Assaying. - Promptly upon the receipt of each
importation of silver bearing material at the plant where it is first to be
treated, it shall be weighed, sampled, and assayed for the silver content. A
reserve commercial sample shall be retained by such plant for at least
2
years
from the date of importation, unless the assay is sooner verified by the
Treasury Department.
Sec. 4.
Plant Records. - The importer shall keep an exact record,
covering each importation, to be kept in the plant of first treatment.
The
records shall show the gross wet weight of the importation, the weight of con|tainers, if any, the net wet weight, the percentage of weight of moisture, the
inet dry weight, the silver content shown by the settlement assay, and the
l
*amount of silver required to be exported under the agreement.
An attested
icopy of such record shall be filed promptly with the Assay Office at New York
'or the Mint at San Francisco, whichever has been designated to receive a copy
of;the entry.
The plant records herein required to be kept shall be available
for examination by a representative of the Treasury Department for at least
2
years after the date of the disposition of such silver.
Sec. 5.
Application for License. - Not later than three months
from the date of entry the importer shall file with the Assay Office at New
, York or the Mint at San Francisco, whichever has been designated to receive
a copy of the entry, an application on Form TS-24 for a license to export
the refined silver.
Such application shall be executed under oath before an
officer duly authorized to administer oaths, filed in duplicate, and shall be
accompanied by a sworn copy of the above-mentioned agreement under which the
silver bearing materials were imported and two duly attested copies of the
settlement sheet.
-
Sg c . 6.
11
-
Issuance of & Serially Numbered Certiiiente. —
If "the
superintendent of the mint- or assay office is satisfied as to the accuracy
of the data shown on such application* he shall issue to the importer a
dated serially numbered certificate which shall show the amount of the silver
specified by the application and the amount specified by the settlement
sheet.
The Director of the Mint shall prescribe the form of such certificate.
Sec. 7.
Issuance of Export Licenses. -
Upon delivery of the
serially numbered certificate to the Assay Office at New York or to the
Mint at San Francisco, whichever has issued the certificate, within 120
days from the date the certificate was issued, the superintendent of the
mint or assay office shall issue to the applicant an export license on
Form TSL-24 to export refined silver in an amount not exceeding the amount
specified in the settlement sheet as shown on such certificate, shall
indicate on the duplicate copy of the application the date and number of
the license and the amount of silver authorized to be exported thereunder,
and shall forward such copy of the application to the Secretary of the
Treasury.
-12
-
ARTICLE V
GENERAL PROVISIONS RELATING TO
APPLICATIONS, AFFIDAVITS
AND LICENSES.
SEC. 1.
General Provisions affecting Applications, Affidavits
and Papers. —
Every application, affidavit, or other paper required
to he made hereunder shall be made upon the appropriate form pre
scribed by the Secretary of the Treasury, shall contain all the
information called for in such form, and shall be executed under
oath before an officer authorized to administer oaths.
Action
upon any application or affidavit may be withheld pending the fur
nishing 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, affi
davits, or other papers such instruments as may be required by the
terms, thereof and such further instruments as may be required by
the Secretary of the Treasury or by such agency.
Whenever additional
information is requested it shall be furnished under oath.
SEC. 2.
Proof of payment of Tax on Silver Transfers. —
Each
application for license bo export silver shall be accompanied by
satisfactory proof that the tax under Subdivision 10 of Schedule A
of Title VIII of the Revenue Act of 1926, as added by section 8 of
the Silver Purchase Act of 1934 (hereinafter referred to as 11the
tax”) upon the transfer to the applicant of the silver to be exported,
and upon the transfer from the applicant, if any, resulting from
such asportation, has boon paid, or that the applicant is not liable
for any tax on either of such transfers; provided, that, if the exporta
tion is pursuant to an agreement to transfer such silver and the tax
upon the transfer resulting from such agreement is not due at the time
of such application, the applicant may, in lieu of payment of such tax, giv
a bond to the United States to pay such tax, if any, when duo.
Such bond
shall bo in an amount equal to double the amount of the tax as estimated
by the Secretary of the Treasury or the agency designated to act for him.
Sec. 3.
Uotice upon Denial of License. - Whenever an applica
tion for a license under theso regulations is denied the applicant will
be so advised.
Sec. 4.
Licenses Hon-Transferable. - Licenses and permits
issued or granted under those regulations are not transferable.
Sec. 5.
Procedure after Issuance of License. - When a license
is issued under those regulations the original shall be delivered
to the applicant and a copy thereof shall bo transmitted to the
Collector of Customs at the port of exportation designated thereon;
provided, that if the applicant shall indicate in his application
that he intends to export by mail, a copy of the license shall bo
sent to the Postmaster at the point of mailing indicated in the
application, rather than to the Collector of Customs.
No Collector
of Customs or Postmaster shall permit the exportation from the
continental United States of any silver under these regulations
- 14
except upon the filing of a proper affidavit or the surrender of
a license to export, a copy of vhich has been received by him from
a Federal Reserve bank or a mint or assay office, as the case may
bo, unless such silver may be cxported under sectional, 5, or 4 of
article II of these regulations without a license and without
filing an affidavit.
The Collector of Customs or Postmaster to
whom a license to export is surrendered shall cancel the same by
indicating, on both the original and the copy, whether such silver
has been exported.
The duplicate copy of the license shall be
retained by him.for his files and the original thereof shall be
returned to the Federal Reserve bank or the mint or assay office,
whichever issued it.
Sec. 6.
Expiration of Licenses. - all licenses issued
under these regulations shall expire 50 days from the date of
issuance unless otherwise stated therein.
T. J. C00LIDGE
Acting Secretary of the Tr? sury.
TREASURY DEPARTMENT
FOR IMMEDIATE RELEASE
Friday, July 6 , 1934*
x . .i -
r
f7
ii t> aim o u E ^ «»||rt|g L .j?\
/i
Lfi-j
'
The Greek Government transferred Hj©day- to the United
States Treasury the sum of #196,128, representing 27j$ of the
interest amounting to #435,840 due during the calendar year
1933, and 35$ of the semiannual interest amounting to #217,920
due May 10, 1934, on the 4$ loan of 1929J^ 3 y the transfer of
this sum the Greek Government has accorded to the United States
treatment equal to that accorded to the bondholders of the Greek
Stabilization and Refugee Loon of 1928©
Such equal treatmsnt is
provided for by the terms of the American-Greek debt funding
agreement of May 10, 1929«
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, July 6 , 1934
Press Service
No, 2 - 1 7
Acting Secretary of the Treasury Coolidge today announced
that the Greek Government had transferred to the United States
Treasury the sum of $196,128, representing 27^^ of the interest
amounting to $435,840 due during the calendar year 1933, and 35$
of the semiannual interest amounting to $217,920 due May 10,
1934, on the 4$ loan of 1929,
By the transfer of this sum the Greek Government has
accorded to the United States treatment equal to that accorded
to the bondholders of the Greek Stabilization and Refugee Loan
of 1928,
Such equal treatment is provided for by the terms of
the American-Greek debt funding agreement of May 10, 1929.
f
PAGE b
---....---- --- -..... ........ — ----- ..— ... ..
&als. of Gals. of
Value of [Value of ;
Dist.
Stills
¡Spirits Mash
j Autos |Trucks Property jProperty j
Average
j
I
..$ 0 .,........1State ..Seized. incapacity- iSaizffd__
.-S.eiz.M_^4 D.e.s.t.rpyM|...Arrests
.. j.....,,
,
.
.
., im.a
[
1
i
.....
10
(cont) IN.Mex
f
jj
1 TOTAL
7
278
S3.
[ 1,636
32
1,545
837
8,165.
i4,151
123,230
1.
1
#585,
1
#480. !
13
66
j
1
#3,597. I #2,045. ;
59
56
5
!
6
#87,123, | #1,835, |
35
m
123,230
5
!
6
#87,123. j #1,835. I
35
t '2
6
j
j
1
1Cal.
23
TOTAL |
22
Wash. I
—
12
1,094
1,855
16,841
8
8
354
268
6,450
7
Mont.
and
Idaho
20
778
277
7,813
2
total!
40
totalI
1118
#5,686«
#3,695, Ì
27
91
—----
mm
#1,410.
#400. I
17
44
1
#1,760.
#416. |
49
39
•;
i
2,400
167,309
79,610
1
f
....
2,226
*
I..
GBAUD
;4,151
-D
Ore.-
-
!
12
j1
li
1
i.--------1______ .-,
Nev.
1
11
31,104
17
1,729,329
291
1
3
#8,856.
f
j
#4,511. { 93
14 boats
|43 trs. #474,285. #132,805*j 1792
jLfyU*
niiiwj
j
|
.■ , ..... . .„ ,
56
150
|
l8J-3lnf j
ji
i
- .......... ______ ....
PAGS 3
G a ls. of G a ls . o f !
Autos
S p i r i t s T'ash
S tills
D ist.
c;+■«+•.ís; C¡P>Í 'ZPfí
ATrv
f7
(con t)
Ind
total!
S
846
65
16,585
17,608
4
8
365
386
5 ,6 3 5
|
286,760
|
«•
1 ,0 4 0 I
Valué o fjV alu e o f
Average
P roperty jProperty
S eized 1D estroxed. .Arrp.s.t..s._4 ...Sap& city
$906#
$ L ,375.
255 __
# 2 7 ,580.| $11,296
119
-
2
-
$35.
29
46
$3,950« •
$860«
59
117
14
2
»
-
6
-
$1,956«|
-
853
13,970 I 11
Típ"b
5
65
777
18.125 Í
5
1
8 1 .9 5 5 .
$458.
21____
22
2
100
650
275 !
2
m
m
$ 1 ,2 5 6 .
$115«
31
50
iOWd
39
3,400
5,070
33,410 j
24
1
$9,095«
$ 1 ,4 6 8 .
142
83
16
1,038
303
3 ,2 9 7 ¡
4
má
$1,522«
$493«
25
64
606
9 ,150 |
13
mm
$ 5 ,8 3 0 *
$ 3 ,6 4 3 *
63
-
1,717
37,472 !
17
2
$10,604«
$7,918«
104
190
$1,635«
29
-
$ 1 9 ,9 8 1 . ¡ $13,688«
99
j
17
65
7
. 3.60
10
87
Okla
11
mu •
41
7,775
\
433
A r» v
iUK,
31
total!
89
8 ,8 0 3
2,948
vVyu .
5
335
387
T
l'T+u-c«'K
LjOl
3
130
. JA-iS—
608
305
\j ü J-0 .
A r iz . j
8
M»
_________
|
j
1,870
JA-CtlI •
*
J
16
total!
I
93
23
*»
iv-Lilli • 5
10
1,675
"M "H i
c T) ;
9
18
Trueles
Seized
__
á
i
7 ,750 1
1
97 ,669 |
35
3
¡
5
200 j
4
1
39
310 |
m
m
•»
382
177
4,560 i
l|590«i
.
$2,035« \
$1,797«
$650#
i
-
$740«
$740«
jjj§ *
|
: 99
;.... 13... ,=;;=L .. ....
58
1
1
PAGE 2
Dist .
..... M.*..;..
H
( cont) \ D* C*
8
to m .
"1—
181
! Ga.
113
5
îals. of Gals. of
Spirits Mash
fipii r.fiA
Stills
...D.v.A.S..V.U...
1 .
653
50
1 3,548
39
2,820
116,050
10
! Fla.
73
1; 9,459
1,903
49,315
7
i Ala.
88
1 33,880
1,536
35,810
17
! V i ss.
33
1
! La.
19
f
I Tex.
Value of
Property
Destroyed
¡Average
#3,760.
#1,800
89
1
6
1
#27,780.
#19,467.
304
!
20
j
#16,223.
#14,184.
120
!
115
1
#14,125.
#18,355.
47
1
130
j
#10,416.
$6,746.
108
1
385
j
1 boat
1 truck
#4,497.
#2,870.
59
1
75
1
!
52
1
38
19,139
; 5,275
r* .........—
f 18,954
3 -------------
25,500
Value of
Trucks Property
Seized
Autos
1
1
boat
truck
3
2 boats
1 truck
—
6
’
8,470
j
332
10,750
14
980
I
1,430
9,371
6
•»
#1,889.
#1,579.
61
48
1 4,560
j
2,263
28,895
27
2
#8,542.
#5,184.
178
95
Itotal 1 374
1 64,303
1 10,284
250,191
81
6
#55,692.
#42,918.
573
172
l Mich. 1 41
j
!
2,405
23,470
2
1
#7,057.
$6,917.
39
80
1
3,195
64,880
3
#24,296.
#23,771.
27
j
124
1
3 hoais
3,273
J
1
1 Ohio [ 19
8,355
. 60
2,662
j
1,011
22*630
7
-
#6,534.
#5,023.
88
1
44
!
7,037
1 1,596
48,310
10
1
#9,845.
$6,080.
66
1
140
Ì
[total 1 171
1 15,327
8,207
159,290
22
#41,791.
220
Î
90
j
i
li
1 Wis. ! 17
1 #37,887.
1
2
!—*--------
9,525
1 15,096
137,745
4
#15*135.
#5,935.
28
[
560
I
5,385
1 1,666
143,380
10
#11,070.
#4,455.
68
I Ky.
! Tenn.j:
7
~
j
i
i;i. [
51
30
f
j
■
2
1
1
\1
_________
180
A C T IV IT IE S
O F
C O M P IL E D
Dial
Stills
No. IState i Seized
t
1Maine
1
In . H.
!
!Vt.
I
##
•Gals. of Gals, of
¡Spirits :.Kash \
Seized^
Capacity ¡Seized
m
f
m
K E G -T IL A T I V E
FRO M
Autos
Seized
545
-
3
25
mm
2
650
W
IN S P E C T O R S
e e k ly
Trucks
Seized
-
M o n tli
o £
T u n ©
1934*
R e p o r t s .
Value of
Property
Seized
$2,540*
Value of ;
iverage
Property j
Capacity
Destroyed Arrests
6
mm
#150.
_
m*
1
#3,100.
«•
1
§
1
*
fl
—
i
2
mm
jMass.
9
7,050
1,*567
43,700
6
1
#43,090.
$1 0 0 * |
19
783
1Conn.
4
1,850
207
15*000
2
1
$6,125,
$300, |
4
463
!E. I. I
3
2,150
279
20,850
2
•
$1 1 ,0 0 0 ,
$400.I
10
1TOTAL I 16
11,050
3,073 | 79,550
15
3
$66,005»
$400. |
42
: ,691
2
1N. Y. ! 53
18,587
6,677 j 275,839
12
1
$71,813.
$10,861.|
67
351
3
1 Pa.
36
4,194
51,882
12
8
$50,826,
$29,275*|
62
117
1N. J. 1
12
18,500
7
4
#7,450.
$4,200,|
39
1,542
i Del. |
1
150
2
-
$600,
#50. |
! TOTAL I
49
22,844
13,060 | 232,982
$58,876.
| Md.
26
1,738
1,0451 18,966
8
boat
| 35,385
3
4,570
815
668
4
| Va-
1;
! W. Vaj
1 N.Cari
! S.Car J
4,119 |
8,928 1 180,100
250 | 1,503
15
125]
1,1851
35 \
2001
1
150
$33,525 |
39
,466
$6,303*
$4,328 1
55
•*
$6,736
$4,836 |
20
5
-
$5,122.
$4,043,|
1 68,168
3
-
$3,244,
*$3,129 1
33
| 38,590
8
-
**2,615.
$1,331.|
39
13 1
22
717
591 j
1 ,0 0 0
12
21
1
*
67
j
j
j
11
8
j 16
j
|
....... 6 ... [.. ... .;
PAGE H
Gals, of Gals, of
Disi.
j Stills
Spirits Mash
Autos Trucks
Ho.
State Seized. Capacity ¿Seized_ ■Seized-__ .Seized Seized
11
f
f
ArTRct.Q !
!
10
(cent)
Value of [Value of
Property |Propert2?Seized -iDestroyed
N.Mex
6
108
21
1,070
TOTAL
13
583
160
2,140
2
-
i
#275.
9
!
1
-
#1,135.1
#650.
20
j
T
1
i
Cal.
#345*j
|
Hev.
*
1,278
67,200
2
-
#1,009.|
#550.
5
I
j
4
557
829
7,697
3
m
#2,306»!
#1,691»
9
!
|
1
50
10
2,500
•»
mm
#167.|
#67*
2
1
Idaho
6
315
18
3 ¿023
•
1
#564.|
#139.
6
j
f
—----- _i TOTAL
11
922
857
13,220
3
1
#3,037.1 #1,897.
17
!
f
510
!
f
12
TOTAL 1
4
'Wash. !
Ore.*
Mont.
GBAUD
total]
310
34,819^
Average
]
15,989
457,385
1 boat
68
10
#?7,427*1
#43,710.
opacity of stills f<j>r entire United States 11)3 gals*
* Capacitir not reported*
1
PAGE 2
Cals, of Gals. of
[Spirits Mash
Stills
Dist.
.
IS.eiz.ed.. Seized....
...L.Capacity.
.. Ho..*. State... ..Seized...
(cont)
3
D.C.
mm
is
*
Value of
Autos I Trucks Property
...Seized..] Seized ..Seized
Ala.
31
6,370
Miss
5
350
[
La.
6
335
3
L boat
4
7
I
TOTAL
37
j,
$2,468.
9
j
j
$2,544.
$2,394.
33
j
j
8,780
736
15,250
1
- S
114
1,500
5
-
$733.
$483.
15
j 1,094
3,515
-
-
$574.
$¿74.
21
|
1
$3,791.
$2,281.
58
|
|
$14,379.
171
J
f
16,832
88,368
7
1 boat
20
2
6,825 j
$17,914
1
$3,856.
§3,j?51.
11
!
81
800
1
-
$325.
$¿75.
2
|
|
142
4,170
1
-
$1,818.
$1,268.
28
|
1
70
1,085
--2,851 1 1,664
4,290
1
-
$1,175.
$775.
10
|
|
16,085
3
• $7,m.
$6,069.
51
|
|
4,500 j’
64,700
2
$5,300.
$2,000.
6
j
12
j
20
Term
$3,463.
997
1,048 | 1,371
1
1
42,491
2,055 | 1,363
T ---**--| 16,143 i 4,835
16
Ky.
35
531
|
1
$6,179.
-
10
Ohio
$6,809.
9
f 4,883 1:
it— 1----1 2,150 1
13
-
53,985
Fla.
Mich.
|
f 1,207
l
6
f
$850*
44
111
87
mm
Ga.
TOTAL
j
-
59
15
jr
9,650
jTOTAL
Tex.
16
$7,725.
$850.
!___
$6,415.
29
f
Value of
Property
Destroyed Arrests_j,_____ _____ 1__ ......___ __ 1
698
)
■
7
Wis.
4
111.
10
935
/
2,280
709
♦Capacity not shorn»
k- ..1r..—
■
2
58,150
2
!
I
-
$1,945.
$l,/630t
i
J
Week e D d i m Jurs 30. 1 .Q34.
ACTIVITIES OF REGULATIVE ITsTSPECTOBS
C O M P IL E D
FRO M
F o rm
L - 1 9 1 .
........ t
+*
1
•H
O
a
cfl
o
Dist.
| Stills
No. State •; Seized
Inaine j
-
j
m
N. H.
-
Vt .
-
R. I .
2
1
f
455
—
j
24
i
1
-
Autos
Seized
jValue of j Value of
Trucks !Property j Pp<5perty
j ^estroyec Arrests
Seized ; Seized
'
-
$ 2 ,1 0 0 . 1 \
-
#150.
-
-
#450.
I
3
-
# 3 ,0 7 5 .
4
1
# 1 5 ,0 7 1 .
7
-
|
-
-
54
-
1
-
15
4,071
1 ,4 7 4
63,825
m
1
300
N. Y.
f
1 #300.
#75.
640
!
!
f
Pa.
491
N. J.
mm
-
Del.
—
mm
TOTAL
k
10
810
•»
10,125
5
2
mm
—
»
« ,
mm
mm
#6,578.
13
# 4 ,2 2 1 .
\
22
#2,100»
J|
23
\
/
m
10,125
5
2 j
# 6 ,5 7 8 .
*
30
2,100
2
- |
#450»
j
-----------------------
.
mm
( # 2 ,1 0 0 .
24
\
#150.
15
M.
6
Va.
7
I
*
145
9,800
1
« .
!
#1,850.
#1,450.
7
W. Va j
7
1
*
340
3,950
2
m
j
#4,125»!
#3,740.
22
N.Car j
S .Car j
19
419
15,925
_
mm
#225.
14
17
*
*
!
* Cap a d
!
12,560 1
244
not ¿horn,
4 |
? "~7
-
}
1
1,337
491
10
527
t
2
/ #300.
------------------
3
2
#300»
-
300
.\
6
2
1
|
-
-
TOTAL
j
!
100
j
2
-
-,
-
~
Mass*
Conn. |
iGals. of Cals, of
(Spirits i.Hash
ISeized
j Seized
#225» |
j
#225.1
-
13
!----- --- r
............
1
......... -
............................
TREASURY DEPARTMENT
Washington
f
BOR IMMEDIATE RELEASE
July 9, 1934
Press Service
2 — 13
ACTIVITIES OP REGULATIVE INSPECTORS.
ALCOHOL TAX UNIT. EQR WEEK ENDING- JUNE 30, 1934.
( Corrected statement based on complete weekly reports
of supervisors.)
Dist.
No.
1
States
Maine
N. H.
Vt.
Mass.
Conn.
R. I.
Stills
Seized
Capacity
Gals, of
Spirits
Seized
G-als. of
Mash
Seized
Autos &
Trucks
Seized
1
300
2
2
1
75
300
450
6
1
2
3
$ 3,075
13
2
-
Arrests
$ 2,100
150
455
24
100
7
54
Value of
Property
Seized
TOTAL
1
300
640
2
N. Y.
15
4,071
1,474
63,825
5
$15,071
22
3
Pa.
N. J.
Del.
10
491
527
810
10,125
7
$ 6,578
23
1
TOTAL
10
491
1*337
10,125
7
$6,578
24
Md.
Va.
W.Va.
N.Car.
S.Car.
D. C.
6
7
7
19
17
3
30
145
340
419
244
29
2,100
9,800
3,950
15,925
12,560
9,650
2
1
2
$ 450
1,850
4,125
225
225
850
15
7
22
14
13
16
TOTAL
59
1,207
53,985
9
$7,725
87
Ga.
PIa.
Ala.
Miss.
La.
Tex.
44
10
31
5
6
15
4, 883
2,150
6,370
350
335
2,055
531
997
736
114
1,094
1,363
42,491
8, 78.0
15,250
1,500
3,515
16,832
3
5
1
5
8
$6,809
3,463
2, 544
733
574
3,791
35
9
33
15
21
58
TOTAL
111
16,143
4, 835
88,368
22
$17,914
171
Mich.
Ohio
Ky.
Tenn.
13
1
16
7
1,048
20
698
1,085
1,371
81
142
70
6, 825
800
4,170
4, 290
1
1
1
1
$ 3,856
325
1, 818
1,175
11
2
28
10
TOTAL
37
2, 851
1,664
16,085
4
$ 7,174
51
4
5
6
4
-
Stills
Seized
No,
G-als. of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
4
10
3
4,500
2,280
400
935
709
237
64,700
58,150
1,550
4
2
$ 5,300
1,945
400
6
12
4
TOTAL
17
7,180
1,881
124,400
6
$ 7,645
22
1
5
15
765
$
50
100
4,500
25
200
1
1
1
32
142
1
5
1
751
2
16
3
1
TOTAL
7
830
180
4, 825
3
$ 1,429
22
Kan.
Okla.
Mo.
Ark.
3
8
6
8
253
128
159
71
118
1,270
3,800
5,292
2,850
2
3
4
2
$
814
2,483
1,590
750
14
13
22
12
TOTAL
25
1,448
476
13,212
11
$ 5,637
61
Wyo.
Utah_
Colo.
Ariz.
3
1
2
1
6
175
75
175
50
108
46
12
41
40
21
1,070
13
583
160
AM •
TOTAL
11
-
Wis.
Ill,
Ind.
N. D.
S. D.
Minn.
Neh.
Iowa
10
Capacity
Gals, of
Spirits
Seized
2
1,195
253
425
1
275
300
345
3
3
3
2
9
2,140
2
$ 1.135
20
1
110
960
$
225
Cal. \
T\Tr>v
4
1,278
67,200
2
$ 1,009
5
TOTAL
4
1,278
67,200
2
$ 1,009
5
Wash.
Ore,
Mont.
Idaho
4
1
557
50
829
10
7,697
2,500
3
$ 2,306
167
9
2
6
315
18
3,023
1
564
6
TOTAL
11
922
857
13,220
4
$ 3,037
17
GRAND TOTAL
310
34, 819
15,989
457,385
78
$77,427
510
79,6411,731,329
289
$ 474,285
1,860
12
Total for
June 1934
1,118
167,309.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:-
July 9, 1954.
RECEIPTS OF SILVER BY THE MINTSs
(Under Executive Order of December 21, 1955)
Week ending July 6, 1954:
Philadelphia.•••••*••••••••••••
San Francisco................
Denver.......................
450,150.55 fine ounces
766,856.49
211,260.00 n
"
1,428,247.02
"
»
Corrected figure on total receipts of silver through July 6: 9,985,000 fine oun
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ending July 7, 1954:
Philadelphia......
San Francisco.....
Denver.......•••••
New York.........
Seattle.... •.....
New Orleans..... ..
Total..........
____ Imports__________ Secondary
$
...
926,594.51
46,291,00
9,665,500.00
•••
_____ 1.484.56
$10,657,669.67
$
512,167.50
122,162.58
110,552.00
1,115,200.00
19,510.20
28.016.92
$1,705,608.80
New
Domestic
$
514.44
1,0Ï1,005.57
851,014.001
•••
168,429.57
161.24
$2,070,924.62,
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1955)
Received by Federal Reserve Banks:
Week ended July 5.........
Received previously. ..•••••
Total to July 5......
_____ Gold Coin
Gold Certificates.
$
$
249.194.00
$249,194.00
$
18,100.00
1.601.900.00
$1,620,000.00
45,865.18
28.162.546.51
$28,208,209.49
579,106.00
61.514.780.00
$61,895,886.00
Received by Treasurer’s Office:
Week ended July 5.........
Received previously.......
Total to July 5........
Notes
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
No purchases for the week ended July 7, 1954
TREASURY DEPARTMENT
Washington
«nMfTOAmiM FOB THE PRESS!
July 9 ’ 1934‘
m^BTPIS OF STT.VWR BY THE MBITS;
(Under Executive Order of December ¿1, isoe;
...... 450,130.53 fine ounces
Week
1,428,247.03
*
"
Corrected figure on total receipts of silver through July
6!
9,985,000 fine ounces.
oun
BTBTCTPI’S OF GOLD BY THE
Mims A M
„ 1QnA,
Week ending July 7, 1934:
.44
.37
.001
„ n ..
,
Philadelphia......
D^vef
.57
¿24
.62,
letori:^:::::::
Total.........
New
Tmoorts
_____Secondary
----- i m p o r t -- -----------*
$
$
“ ’’l
&
ASSAY OFFIO^.!
Domestic^---- -
594.31
312,167.30
122,162*38
$
314.44
1,051,005.37
£391.00
110,552.00
851,014.00
*« *> **« »
« « © s
$10,637,66§ .67
. 28
$1,705,608.80
«.ss;»
S -i2 ~
$2,070,924.62
GOLD RECEIVED BY FEDERAL RESERVE BAMS AND THE TREASURER1 S OFFICE*
(Under Secretary*s Order of December 28, 1933;
.
Received by Federal Reserve Banks:,.
_
Week ended July 3..........
Received previously.•••••*•
_
_
Total to JuLy
....
nni cl Coin
Cold Certificates
------Gpld Ooi-----------—
“
4
45
,S
863.18
4oq pop.209-49
$28,2
U
$
579,106.00
61.314,780.00
QQA nn“
$61,893,886.00
«p *
Received by Treasurer*s Offices.
„
Week endedJuly 3..........
Received previously.••«•«.*
,
„
Total toJuly 3.•••••«..
Rote:
4
„
$
___—
---- —
4
p4Q 194.00
$
2 4 y,iy^t.uu
$
18,100.00
* 1 .s q 1 .9 oq .o o
---$ 1,620,000.00
*
*
Gold bars deposited with the Eew York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Ho purchases for the week ended JuLy 7, 1934,
f
vi
temi DIPARTI]
ÎOE RELEASE, MOREIEG PAPERS,
Tueeiay, July 10* 1934*
Pres« Serric«
ä ~~ 1^
f
,
A6ti.Bg Seeretary of the Treasury Coolidge
announeed today* July 9* 19341 th&t the tender8 for
$78*000*000* or thereabouta* of 182-day Treasury
bilia* datai luly 11* 1934* ani maturlag Jaauary 9*
1933* whieh mera offerti
ob
July 6* wart optati at
thè Federai reaerve benks #m July 9* 1934*
The total «meuat affliti for w&s $208*743*000*
of wfaìeh $75*235*000 ma« acceptai*
The aeeeptei bidè
re&gei ìa prloe from 99*980* exultaient to a rate of
about 0*04 per cent per annua* to 99*962* équivalent
to a rate of about 0*08 per cent per annua*
iiseount baeie*
ob
a bank
Ôaly part of thè amount bii for et thè
lattar prie# ma» aeeeptei*
The average priee of Treaaury
bilie to be issued le 99*966 ani thè average rete le about
0*07 per eent per annua on a bank dieeount baeie*
4
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- PAPERS,
Tuesday, July 10, 1934,
Pres| Service
No* 2 - 1 9
Acting Secretary of the Treasury Coolidge announced today
July 9, 1934, that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury "bills, dated July 11 * 1934, and maturing
January 9, 1935, which were offered on JuLy 6, were opened at
the Federal reserve banks on July 9, 1934.
The total amount applied for was $208,743,000, of which
$75,235,000 was accepted.
The accepted bids ranged in price
from 99.980, equivalent to a rate of about 0.04 per cent per
annum, to 99.962, equivalent to a rate of about 0.08 per cent
per annum, on a bank discount basis.
Only part of the amount
bid for at the latter price was accepted.
The averago price
of Treasury bills to be issued is 99.966 and the average rate
is about 0.07 per cent per annum on a bank discount basis.
O F F IC E O F T ^ E CO M M ISSIO N ER O F C U ST O M S
■JFFiCE OF
TO ASSISTANT SECRETARY GIBBONS
FROM THE COMMISSIONER OF CUSTOMS:
Attached hereto are two tables showing the imports of
distilled liquors and wines during the month of June and the
duties collected thereon.
One of these tables also shows the
comparison for preceding months since the repeal of the Eight
eenth Amendment.
The other table shows a comparison with the
May totals of duties collected, contrasting those collected
on liquor with those collected on other imports.
The amount
of duties collected as reported in each table for the month
of June is that actually reported by Collectors of Customs,
while for previous months it comprises a computed figure at
the given rates of dutj
Inclosure.
DUTIES COLLECTED OX IMPORTS OP DISTILLED AMD FERMENTED LIQUOR
During May and June, 193A
Rate of
Duty per
Gql}en
Distilled Liquor
«
«
347,989
41,739,945
384,790
4l,9*9#945
4*00
25,417
102,448
(•)
(•)
4.00
20,780
124,200
**,537
135#193
4*80
24
1*5
1*25
288,900
341,125
1*00
175
from Cuba
n
from Cuba
Still wines
•
«
from Cuba
Duties eolleeted on liquor
«
n
JUNE, 1 » « (*)
.
Gallons
Importad— ---- Duties,
45*00
Sparkling wines
«
MAT* 1934 ( b ) __
Gallons
Duties
Imported
on other imports
Total duties eolleeted
_______ m
(• )
(•)
208,504
240,828
(•)
— -- Loi
42,328,038
$*»525,944
18,719,898
18,510,947
421,041,13d
420,83^,933
(a)
Duties are ns actually reported by Collectors and do not oheck exactly with
gallonage at quoted rates* Neither gallonage nor duties will correspond with
data subsequently ooupiled by the Department of Coansroo (See nenorandun to
Mr* Gibbons, dated May 3, 193d)*
(b)
As reported by the Department of Conm eroe«
(e)
Mot separately reported by Colleeters.
PREPARED BY/
DIVISION
OF
S TA TIS T IC S vA N D
8UREAU
TREASURY
/
RESEARCH
OF /ÍU S ^ O M S
DEPARTMENT
DISTILLED LIQUORS AND VINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS iU CUSTOiM bHOU:
December, I333 - Jim«, I934, In«
DISTILLED LIQUORS (Proof Oallon.Jl
Stock in Custoas Bended Wars-»
house* at beginning ef month
Total Imports
Available for Censuaptlen
Entered into Consumption
Stock in Customs Bended Bare«
houses at end ef month
VINES (Liquid Gallons):
Stock in Customs Bended Vare«*
houses at beginning ef month
Total-'-l Imports
Available for consumption
Entered into Consumption
Steek in Customs Bended Vare«>
houses at end ef month
DUTIES COLLECTED OK a
Distilled liquors
Vines
Sparkling
Still
Deeembsr
January
February
1**3
*334
u a
40,111 (a)
Harsh A
Jan"
6 3 0 ,2 3 6
1 ,585,835
1*535*7«
1,403,8«\
2,185,357
753,804 >v
820,122
1,733,©40
3*304,875
582,153
2*722,7 040
1*133*^ ft«*
3*915*71 781
837*71 1*832
X,
1 ,585*835
2,722,7*8
3*278*0 J43
788,331
488,518
1*13M 777
580,5 334
4^775*7 >77*
370,?! 348
850,258
278,714(a)
385,378
1 ,282,832
738,427
528,285
733,131
1,321,338
534,405
528,285
788,331
,1^*135*373
1,404,3 )843
»3#°71,28t
«2,887,352
^3rl54,2‘ k!87
801,848
384,882
/951.024
804«285
274,038
552.898
«3,380,195
«3,714,748
♦3,721,133 /
Total
878*832
1 ,883^883
224*«! Mz
JZ5i2 ¿Si.
«3,853»?
058
(a)
Steeks ef distilled liquor and wine'lm bended warehouses on December 1, 1333* t**?1 lnvi
somewhat problematical. Exact figures are being compiled and will be supplied &l Tiili
(b)
Incl
thdravals for ship supplies,
s as reported by Collectors ef Customs dlreet to the Bureau.
PREPARED BY
DIVISION OF STATISTICS AND RESEARCH
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
Totals tw oath;
stoA
housïs
Int
it«or
Juno (i
m V
Totals
Boo* 1933
Juno.1934
22,7 »040
?3,0:
*5#7 »781
37,7 »832
3,760,949
1,047,262
4,808,211
373,606
4,434,605
512,705
4,947,310
386,790
40,111(
8,264,227
8,304,338
3,743,018
78,0 ,943
4,434,605
4,560,520
4,560,520
?54 ^
B0,5#«4
75»?
70,9Î
1 »746, 643
309,801
2,033,794
412,761
2,446,555
231,043
2,933,662
643
2,033,794
2,215,512
2,215,512
54,2! »187
*1,842,413
*1 ,923,345
24,$! ,662
75i°1 ,209
124,325
961.900
260.828
1,995,247
3.208,391
53*71 »054
*2,328,038
*2,225,966
*23,740,814
84,
536,952
2,343*595
276,714(1
4,872,260
5,148,974
\j
>
135,133
Inventory only, tbo accuracy of ohich is
tillable*
ftr
k&tho aro eoopllod by tbo lepartnont of
TREASURY DEPARTMENT
Washington
Press Service
No. 2 T O F
- 3 *
Stocks of imported wines and liquors in Customs bonded ware
houses have increased steadily month by month since repeal.
The
import figures released today by the Office of the Commissioner of
Customs of the Treasury Department show that stocks of distilled
liquors in warehouses at the end of June were 125,915 proof gallons
greater than at the end of the preceding month.
The amount enter
ing into consumption during the month of June, however, exceeded
that of May by 15,184 proof gallons.
More than 4| million gallons of distilled spirits remained
in bonded warehouses, available for consumption, at the end of June,
1954 and more than two million liquid gallons of wines were in
bonded warehouses, available for consumption, at the same time.
Total imports of both distilled liquors and wines were the
lowest during June than for any month since repeal.
The June im
ports of distilled liquors were less than one-third those of February
of this year.
The first of the following tables shows the imports of dis
tilled liquors and wines during the months of May and June and the
duties collected thereon and the totals collected since repeal of the
Eighteenth Amendment.
The second table shows the duties collected
and imports of distilled and fermented liquors during May and June,
1954, with a comparison of duties collected on other imports.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING- NEWSPAPERS,
Thursday, July 12, 1934.
7-11-34
Press Service
No. 2 - 2 0
Stocks of imported wines and liquors in Customs "bonded ware
houses have increased steadily month "by month since repeal.
The
import figures released today by the Office of the Commissioner of
Customs of the Treasury Department show that stocks of distilled
liquors in warehouses at the end of June were 125,915 proof gallons
greater than at the end of the preceding month*
The
amount enter
ing into consumption during the month of June, however, exceeded
that of May by 13,184 proof gallons.
More than 4§ million gallons of distilled spirits remained
in bonded warehouses, available for consumption, at the end of June,
1934 and more than two million liquid gallons of wines were in
bonded warehouses, available for consumption, at the same time*
Total imports of both distilled liquors and wines were the
lowest during June than for any month since repeal.
The June im
ports of distilled liquors were less than one-third those of February
of this year.
The first of the following tables shows the imports of dis
tilled liquors and wines during the months of May and
June and the
duties collected thereon and the totals' collected since repeal of the
Eighteenth Amendment*
The second table shows the duties collected
and imports of distilled and fermented liquors during May and June,
1934, with a comparison of duties collected on other imports.
2 DISTILLED LIQUORS AND WIUES
IMPORTATION'S, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
May. 1934 - June, 1934, Incl.
-
May
1934
June
1934
..
Totals
Dec. 1933 to
June.
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded. Ware
houses at Beginning of month
Total Imports
Available for Consumption
Entered into Consumption
Stock in Customs Bonded Warehouses at end of month
3 .760,949
1 ,047,262
4,SOS, 2 11
373,606
4 ,434,605
512 ,70 5
4 ,9 4 7,310
386,790
4o,in
g,264,227
S,304,33S
3,7^3,SIS
4 ,434,605
4 ,560,520
4 ,560,520
WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at Beginning of month
Total Imports
Available for consumption
Entered into Consumption
Stock in Customs Bonded Ware
houses at end of month
1,746,643
596,9 52
2,343,595
309,801
2,033,794
4 12 ,7 6 1
2,446,555
231.043
276,714
4 ,872,260
5,148,974
2,933,462
2,033,794
2 ,2 15 ,5 12
2 ,2 1 5 ,5 1 2
$i,S42,4l3
$1,929,945
$18,537,176
124,325
361,300
135,193
260,828
1,995.247
3.208,391
$2 ,32 S,03S
$2 ,325,966
$23,74o ,si 4
DUTIES COLLECTED ON Distilled liquors
Wines
Sparkling
Still
Total
DUTIES COLLECTED ON IMPORTS OE DISTILLED M D FERMENTED LIQUOR
DURING MAY AND JUNE, 1934
Rate of
Duty per
Gallon
Distilled Liquor
tt
n
from Cuba
Sparkling wines
ii
it
from Cuba
Still wines
it
ii
from Cuba
$5.00
4.00
6.00
4.80
1.25
1.00
May, 1934 (b)
Gallons
Duties
Imported
347,989
25,617
20,700
26
288,900
175
Duties collected on liquor
it
it
on other imports
Total duties collected
(a)
386,790
(c)
22,537
(c)
208,506
(c)
$1,929,945
(c)
135,193
(c)
260,828
(c)
$2,328,038
$2,325,966
18,713,098
18,510,967
$21,041,136
$20,836,933
Duties are as actually reported "by Collectors and do not check exactly with
gallonage at quoted rates. Neither gallonage nor duties will correspond
with data subsequently compiled "by the Department of Commerce.
(b) As reported by the Department of Commerce.
(c)
$1,739,945
102,468
124,200
125
361,125
175
June, 1934 (a)
Gallons
Duties
Imported
Not separately reported by Collectors.
- 5 -
vessels are at anchor in the harbor of Istanbul, Turkey.
The new fourth class, reporting during the summer, will remain
at the academy and will receive instruction in infantry drill, small
boats, signaling and physical education.
The Academy was founded in Hew London in 1911.
course was changed from three years to four years.
In 1932 the
upon his graduation, will be available to be applied toward! the cost
of the outfit required for commissioned officers*
No cadet is permitted to receive any financial assistance from
his home or elsewhere without permission of the Superintendent of the
Academy*
The pay of a cadet is sufficient for his support*
Upon receiving an appointment the cadet is informed that the
purpose of the Academy is to graduate young men with sound bodies, stout
hearts, and alert minds, with a liking for the sea and its lore, and with
that high sense of honor, loyalty, and obedience which goes with trained
initiative and leadership; well grounded in seamanship, the sciences, and
the amenities, and strong in the resolve to be worthy of the traditions
of commissioned officers in the United States Coast Guard in the service
of their country and humanity*
Yearly during the months of June, July and August all cadets,
except those just appointed, make a practice cruise at sea*
Cadets
are given practical instimetion, in so far as opportunity permits, in all
matters relating to seamanship, navigation, marine engineering, gunnery,
signaling and radiotelegraphy,
The training vessels,
(US
C V jM j X o
M
F a n a Ot
¿Lsy are virtually
turned over to the cadets and only at times of danger or in severe storms
are regular commissioned officers in charge.
Cadets are likewise re-
quired to perform all the duties of seaman and all the duties pertaining
to the engine room and fire room.
.
T & &
A - €■*•*"*
It is optional with the Semmadsat of the Academy whether the
practice cruise shall be made in foreign waters or on the Atlantic Coast
of the United States and in the West Indies*
At present the training
¡§i
TREASURY DEPARTMENT
Washington
-ftit
Ear Release/ %
^
â..
»3. 11
Press Service
No. 2 - XI
The successful candidates for admission to the Academy of the
Coast Guard will be notified at their homes during the next week, the
Treasury Department announced today.
The examination held this year on June 21 and 22 was taken by
605 candidates.
examination*
Last year 1065 candidates were designated for the
Approximately fifty will be selected for the freshman
class this year.
They will assemble at the Academy in New London,
Connecticut, the latter part of July where they will await the return
of the upper classmen who are, at present, on a training cruise in the
Mediterranean•
It has been the experience of the
Academy that
about half of those selected ordinarily are able to complete the fouryear course.
While the instruction is in some respects similar to
that at the United States Naval Academy, greater stress is laid on
practical seamanship and on marine safety and rescue tactics, which
form an important pert of the work of the Coast Guard.
The discipline
is the same as that at the Naval Academy.
The fMMMNvfc pay of cadets in the Coast Guard is the same as
that provided by law for midshipmen in the Navy, which is, at present,
$780.00 per annum and commutation for one ration per day.
mences upon the day of acceptance of appointment.
It com
Practically all of
the cadetfe pay is required to defray his expenses during his cadetship
and for deposits which he will be required to make toward a fund which,
TREASURY DEPARTMENT
Washington
Press Service
No. 2 - 2 1
FOR IMMEDIATE RELEASE,
FRIDAY. JULY 13. 1934.
7-13-34
The successful candidates for admission to the Academy of the Coast
Guard will he notified at their homes during the next week, the Treasury
Department announced today.
The examination held this year on June 21 and 22 was taken hy 605
candidates.
Last year 1063 candidates were designated for the examination.
Approximately fifty will he selected for the freshman class this year.
They will assemble at the Academy in New London, Connecticut, the latter
part of July where they will await the return of the upper classmen who
are, at present, on a training cruise in the Mediterranean.
It has been the experience of the Superintendent of the Academy that
about half of those selected ordinarily are able to complete the four-year
course.
While the instruction is in some respects similar to that at the
United States Naval Academy, greater stress is laid on practical seamanship
and on marine safety and rescue tactics, which form an important part of
the work of the Coast Guard.
The discipline is the same as that at the
Naval Academy.
The pay of cadets in the Coast Guard is the same as that provided by
law for midshipmen in the Navy, which is, at present, $780.00 per annum and
commutation for one ration per day.
°f appointment.
It commences upon the day of acceptance
Practically all of the cadet’s pay is required to defray his
expenses during his cadetship and for deposits which he will be required to
make toward a fund which, upon his graduation, will be available to be
applied toward the cost of the outfit required for commissioned officers.
~
2
—
No cadet is permitted to receive any financial assistance from M s tome
or elsewhere without permission of the Superintendent of the Academy.
The pay
of a cadet is sufficient for his support.
Upon receiving an appointment the cadet is informed that the purpose of
the Academy is to graduate young men with sound bodies, stout hearts, and
alert minds, with a liking for the sea and its lore, and with that high sense
of honor, loyalty, and obedience which goes with trained initiative and
leadership; well grounded in seamanship, the sciences, and the amenities, and
strong in the resolve to be worthy of the traditions of commissioned officers
in the United States Coast Guard in the service of their country and humanity.
Yearly during the months of June, July and August all cadets, except
those just appointed, make a practice cruise at sea.
Cadets are given prac
tical instruction, in so far as opportunity permits, in all matters relating
to seamanship, navigation, marine engineering, gunnery, signaling and radio
telegraphy.
The training vessels, this year the cutters Sehago and Cayuga, are
virtually turned over to the cadets and only at times of danger or in severe
storms are regular commissioned officers in charge.
Cadets are likewise re
quired to perform all the duties of seamen and all the duties pertaining to
the engine room and fire room.
It is optional with the Superintendent of the Academy whether the
practice cruise shall be made in foreign waters or on the Atlantic Coast of
the United States and in the West Indies.
At present the training vessels
are at anchor in the harbor of Istanbul, Turkey.
%
The new fourth class, reporting during the summer, will remain at the
academy and will receive instruction in infantry drill, small boats, signal
ing and physical education.
The Academy was founded in New London in 1911.
changed from three years to four years.
In 1932 the course was
TREASURY DEPARTMENT
Washington
July 16, 1934,
MEMORANDUM FOR THE PRESS:
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1953)
Week ending July 13, 1934$
♦Denver......................... 118,560.00 fine ounces
San Francisco................ . 111.951.19
"
"
f
250,491.19
" "
* Corrected figure on receipts for week ending July 6i
1,260.00 fine ounc
1 Corrected figure on total receipts of silver through July 13, 1934: 10,005,000 fine c
^Corrected figure on receipts for week ending July 6: 1,218,£47.02~ fine ounces.*/
„RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES.:
Week ending July 13, 1934:
Philadelphia......
San Francisco.....
Denver...........
New York..........
Seattle..... .....
New Orleans........
_____ Imports___________ Secondary
$
...
1,303,990.71
42,769.00
9,270,000.00
...
18.996.40
flO,635,756.11
$
,
333,552.17
205,104.14
90,399.00
951,000.00
30,320.35
27.614.86
fl,637,970.52
New
Domestic
$
968.73
1,081,718.64
943,392.00
236,182.07
_______...
$2,262,261.44
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary’s Order <f December 28, 1933)
Gold Coin_________ Gold Certificates
Received by Federal Reserve Banks:
Week endedJuly 11..,
Received previously
Total to July 11,
64,191.87
28.208.209.49
$28,272,401.56
708,574.00
61,895.886.00
#62,602,260.00
#
$
f
f
Received by Treasurer*s Offices
Week ended July 11.
Received previously
Total to July 11
Note:
f
800.00
249.194.00
249,994.00
12,400.00
1.620.000.00
f 1,632,400.00
Gold bars deposited with the New York Assay Office to the amount of
#200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Week ended July 16, 1934
$5,828,000.00
t r e a s u r y d e pa r t m e nt
Washington
July 16, 1934*
y m O B M W U FOR THE PRESS:
tt-sr.ETPTS OF SILVER' BY THE MINTS:
“
(Under Executive Order of December 21, ±J6o)
Week ending July 13, 1934.
118,560.00 fine ounces
♦Denver.•...................... .
»
«
San Francisco..... #
n
,
D ^ w o V ' V o V V e e k ^ d S ' j ^ l y 6;
je s s
§s s
sss &
1
,2 6 0 .0 0 fine ounces
**
** i°-oo5’oo°
fine ounces
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ending July 13, 1934:
Philadelphia,
San Francisco,•••••
Denver,
Hew York, •,, ,.r,,,«•>
Seattle,...... *•••
Hew Orleans.•••••• •
_______ Secondary,
Hew
Domestic
$
968.73
1,081,718.64
943,392,00
•
236,182.07
18,996,40
333,532,17
205,104,14
90,399,00
951,000,00
30,320.35
37,614,86
$10,635,756.11
$1,637,970.52
$2,262,261.44
$
,, •
1,303,990,71
42,769,00
9,270,000.00
$
ECEIVED BY FEDERAL RESERVE BANKS AHD THE TREASURER1S OFFICE*
(Under Secretary’s Order of December 28, 1933)
Cold Coin
Received hy Federal Reserve Banks:
Week ended July 11,••••••••
Received previously,
Total to July 11*
Gold Certificates---
64,191.87
28,208,209,49
$28,272,401.36
$
$
$
$
708,374.00
61,893,886,00
$62,602,260.00
Received "by Treasurer* s Office:
Week ended July 11.«.«•••#•
Received previously.
Total to July 11,
Hote:
$
800.00
249,194.00
249,994.00
12,400.00
1,620,000.00
$ 1,632,400.00
Gold bars deposited with the Hew York Assay Office to the amount of
$200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Week ended July 16, 1934...
$3,828,000.00
b
-
wmmj&i Ammmja* mmmms
F o t Iris!\ iÉ*isk*r and Irlah typ« i&isksgr of é m m %le
maxmfaeture; and ftr re», ehether domesticailf sana?f&efcured, dotassiicedXy hottled, or laportedi
3/4 «guari,
3/4 plnt«
---
- . *-
Por Brandr and Bollando gin» shether doraostieally
manofactured, àoaestioallr hottlsA* of 1»porte&J
: 25/32 <gaart,
# 4 (faart*
23/32 piai.
3/4 piat#
(h)
The i m p o r s i » e d d l tKmal etaBdarde r a d « 1 *1* § | | |
are thè p e n w a e a t standard». hot appi» « U T «1«» reapeet to d m e e tlcally hottled d l s t U l e d g i r i t i i l * «
i n t w t a e e d iato e « a M « n e
a M to is^orted dittili*! «pirite e o n w l a t e d f«r
<»
°f
hefor© t>oceeaher 31, 1934#
(«)
Certain fcoleraaces noi Bar© ©et forte are alloeeà la
thè fili.
S*
Am
used eith referenee to standard hottles* thè t«*o
tfi
fw*** tJ* I V Calle® of 231 e w M c inches of alooholi©
bmmragoo
at ¡ ¡ É F. (20° 0.)# and all ©ther ® » H * of
aeasar© are sdbdlfisions of thè « a i o » H
4.
ito!
«o
àeflm&*
Copie* of thè Bacalati«*« of thè federai Aloctool
torn
Adsaiai strati ©a a»r te ©btaliieà from thè federai llcohol
Control Ààninietratla^ Ifrahspartati«* Bailding* Washington, B* C.t
a rar^nest
tot wmL&ims ìmMiM
fO S K 0 M I S ' OF f i n , fOB
B O R & B D BlSfg&hXB 3PXRHIS (hisfcran&ing He^àlations, Series 2),
r <-y\
m
".M
p u t 6 f CWS
m io u a .
a
M
S
UKSaiCHS w w g g f c g g * * *
m
ffl& M W è
1,
S
,B S
c u sm a .
.
fO STASCIUItD IO*®*
atandard botile» prescribed by E s i s t i ®
redenti Altt*ol Control à*rt3*is%»%i« ere tattlea
tea* thè? bell diatilled « t r i t a »
tbe atandarda of « »
»
• « *
•+*
of m A
of «he
alae
W
*
••« forth la p e r » « » « * 2. "f** » h **a
aot la esx.es ef 8 par « r t w s of tao total onpaoitjr of thè botti»
after tìLomre»
2,
(a)
«he stendardo of fili are a» fol owa (fili» in
aateonta lo»» tha» | fiat# asltted)«
-
4 _ m m m m
»*»»«»
ror all distili ed « t r i t a , R o t e a r dcnestieallar
^ Z S t w e A , doBOTtioally bottled, or i^ortad.
1 gali««.
1/2 gallo»,
1 fftaapt*
4/5 qpart#
1 pi»t,
1/3 piu*.
M
taàditio», for Scotch and Xriefc
5U2fiiTiri* *»**
a»&
* szrzz.
faoterei and fer brandy and | g g
t leali? naaafaetarod, àcosoticaHj’ bottled, or
ifóporte&i
4/5 pisi*.
wma
( ru b lic Besolutie® —Ho* 40 —?3d Congress)
(x#y, lies* ¿ % )
JOihf BS9CSd>fX<ai
fo protact
the revenue % regu lation of the
con tain er* of d is t ille d s p ir it s *
traffic
in
JtesolVed by the Senate and Moose o f B sp reseatativ es of the
H alted S tate s o f America la Congress assem bled, th at whenever ia
h is J adfipent each actio n i s necessary to p ro tect the revenue, the
Secretary o f the treasu ry I s auth orised, hy the r e l a t i o n s prescribed
by him, and p a r a it! issu ed th srsu adar i f repaired % him ( l ) to
regn late the s iz e , branding, markinc, s a le , re sa le » p o sse ssio n , use»
and refu se o f cosfeainera ( o f a cap acity o f le s s than fiv e winegallon e) designed or intended fo r u se fo r the sa le a t r e t a il of d is tille d
s p ir it s (s ith in the meaning of such ta ra a s i t i s used im t i t l e II of
the Liquor taxin g Act of 1934) fo r other than in d u stria l u se , and
(2 ) to req u ire, o f persona aaaafac% arlM *a& aaXl»« *»»
u ei^g any
such con tain ers, the subm ission to such in sp ectio n , the keeping of
each reco rd s, m d the f ilin g o f such rep o rts a s may he doeaod hy
%,*«, reasonably necessary in connection therew ith* dhoever w ill
fu lly v io la te s the p rovision s of any regu latio n p rescrib ed , or the
terms or conditions of any perm it issu ed , pursuant to the au th orisa
tio n contained in th is Jo in t reso lu tio n , and any o ffic e r , d ire c to r, or
agent o f any corporation who knowingly p a rtic ip a te s in such viola**
tie n , sh a ll, upon conviction, he fin ed not more than $1,000 or he
Imprisoned fo r not more than two y e a rs, or both; and, notwithstand
ing any crim inal conviction, the containers Involved in such v io latio n
sh a ll he fo rfe ite d to the United S ta te s, and may ha se ise d and
eandcaaed hy lik e proceedings a s those provided hy law fo r fo rfe itu re s,
se t m ires, end condemnations fo r v io la tio n s o f tho in tern al -reveoic
law s, and any such con tainers so seized and condemned sh a ll he destreyed
and not so ld * Any requirem ents imposed under th is Jo in t reso lu tio n
sh a ll he in addition to any other re q air aments imposed hy, or pursuant
to, existing law, and sh a ll apply a s well to persons not lia b le fo r tax
under the internal-revenue laws a s to persons so lia b le *
âl^reved* ifuae 19, 1934*
.
- - - ^ ~..'i» ii«iij i ^
''jg a y s i^
- 14 -
la roaao&ahl®
tipo** «aeh gremisse® io? thè pxtrptw® «f
àoafcructian.
iKtiqw f m >_ffijgMLm sa a a g tt ■
1
*>opa&y CoBKkiMlosuir ìs Ctaftgo of thè Alcohol fax 1 M •«
Btìaraaea of Intombi ■le^ewftte* and hi® ®,»8Ì»tanto*
oad
laepeofeor* aro* under ft® ^ I r ^ ì Q B of ih* O«f»ai#®iosa®r# ohargod etili
tho adaialstraticm aad anfoaroement of thè A d and the»® re&ilallen*.
S,«*ls6«pt &s alberete« prori&ed herein, theeo restaticas
ubali boemie oiiootiv© o» ^piet 1, 1934«
Secretar^ o f thè f r e s a i -
revocation of his ponslt is acagit.
Service
suda citation shall .
be mad© by mailing an criminal copy thereof to the perniiteo, by
registered «ail (with revest for registry return receipt card)*
at til© address stated in the permit,, or by delivery of stuAt. original
copy to «Ira pendttee personally by on officer or agent of the
Qcmisslo&sr.
A certificate of mailing and the registry return «»*&»
car certificate of the officer or agent making personal service »hail
be filed as part of the record In ihe case and shall be prime. .facie
evidence ©f valid «ervic© of the citation*
3«— then any permit is sasgiCQ&od, revoked or surrendered, stocks
©f liquor bottles on hand or In process any b@ disposed of by the
permittee in accordance with directions of the (fremissig r o t «
if such
stocks aro not so disposed of, they shall bo seised and forfeited as
provided, in the Act«
im
a ! m
^ '
g
k jk c k a s b .
gf
'mM
Aim
., ,
m tt mm
1«— The pordhase or sal® of liquor bottle®, sasspt m
herein
providei, and the reuse thereof for packaging distilled spirits, are
prohibited*
2*— The possession of mead liquor bottles by any person other
tfciA the person tiso empties the contents thereof is prohibit© .
Tills idiall sect prevent the © m e r or occupant of any preaises upon
#*ic& sad* bottle® may lawfully be emptied from assembling the
mzo
6,— If thè $ag>onrlsor lisa rmvon io bollavo taat thè poroittco
he& violatali, or io violai lag, any of Ilio previsione of ih® M t »
tlio rendati mio ilìermioder, or any of %fe@ t « m « or condìtlons of
Hi© pernii, he cheli serve a cttation v p m m é k paraluce, erderiag
M a io appesa* ^
& il®® and placo dosi fateci in th«s citatimi, m à
«*M» # T M s
p a r a ti*
shoold »ot he m p e n d e d or revotei.
fho
hearing date chili noi be earlier than 1S dsgro after ili© date of
servici of ih® citatimi*
fhe pensittee aoy appear at sach he^ria^
in persosi, or by attera**, and he and thè attamegr for thè ùmmrtmmii
t m aiTer m eh m i è m m * incielim
affidavit**, and sethedt «.idi
& r $ m m b B m à briofs « U h raspaci to thè pendi as «sy b© àmmmt
appropriate*
fhe aopervieor «hall carme thè testiaony to be <kOy
rocordeà, «ad, opm* cablotto» of Hi.® hearing, «hall stò® a fiata«
m à arder saspending or ravokiag ih© pernii, or diarsiealnf thè
proceeoings, as in bis Jn^giani thè evidente »«y serrani*
thea prosspily aotify ih© pemitteo of M-m action*
He diali
3hoald thè
pentite® desire a rovi©*? of thè f indiai and arder hy thè Oceoiasioner»
thè proéofer© in midi case ubali conforo to timi preeeribed in seetion
4 hereoi for appi icaute for parali®, esseopi ths& thè arder of thè
Coasiesicnor «hall be for a réhearlag or for thè r©versai and srettanding
of ili® procoeding or for ih# final revocaiion of ih© porolt*
The c ita tim i in revocatim i and m spenaicsi proeeediag« «h all
om dain a «iateaoni o f ih® aets chari^ed a s havtng borni -omariittod ty
thè p e ro itte e m à c o a stltu tin g grmmds opon diteti «sapendosi or
0,-~ïf the fapcrvisar has rmmon to
%<&% the permittee
ìmM vi dateti, or 1s violatiag, &ny of the provisions of the Aet#
t^ô rspal&Uoas tharras&âer, or ary of the terras or conditions of
fch® permit, 1m alitali serve a citation ixpon tcuâi peralttee, orderiîig
M m to «ppear ai a time and placo dosljpmted in tho citation« and
•*»» «ans® tf«y M s permit shraald noi b® suspended or revoked»
Ü ms
M&ariag data aliali net be e&rlier thon li day* after tue date of
servie® of the citation*
fho permitió® aaay apocar at sueh hearing
in prarson« or by attorney* and Ito and the attorn^f for the Ctaverisseni
■ W tëtm r m eli évidence, includi»* affidavits, and «tSadt midi
ar^asumts and briefs «Lth respect to t e permit as nay b® detraed
appratiate*
the Soporviaar ahall emae the testinony to b® dcOy
recordad, and, npoa copisti on of thè hearing, sitali mtùœ a fàading
and arder snapending or revoklng the perm it, or diealsEtlng the
praeeeâinge, as in M s Jaâ|$tisnt the évidence raoy carrant*
thon prooçtly aotify th© pemitteo of M s action*
Ee diali
Shœsld the
p o m i ttco decir® a review of thè findiag and order by thè Canai ssiouer,
tbe procedure in ®îch case steli confessi to tlmt pre^cribed in section
4 hareof for applicante for permit®, exœnt thsfc thè arder ef the
Cotisai<mor «hall be for a r«hearing or fo r the reversai and rsnanding
■
of the proeeeding or for the final révocation of the permit*
?*— fhe citation in revoit Ion and suspension proeeedin^s Shell
eontain a st&tonent of tho aets char;
ged as heving boca eoœiiUed by
tho pernittee ami aonstit&tlng grcrands opon whidh saspeasion or
** u
**
notify the Applicant« Mio may, within I - days of mtxSx notification,
fits with the Supervisor a request for review of the record %
Ooaaissioner*
the
«he ^supervisor shall forward such request to the
Commissioner, together with a « w
the record.
(h).— If the (kmissi oner shall groKfe such review end «hall,
upon the record of the hearing before the ihjpervisor, reverse the
finding* of the ii^ervlsor, h& shall remand the record for farther
proceedings In accordance with his finding»*
If he affirms the
findings of the Supervisor, he Shall so notify the applicant and M s
action thereon shall he final.
( c ) .—Should the mpmrwiomr o r C asoission er de«a a rehearing
necessary he may, upon ap p licatio n % the perm ittee, or m hXn om%
motion, ardor the san e, and such rehearing sh a ll he held before the
Supervisor, or M s M y
authorised m m t ,
and
to the r e c r e m e n ts o f th is sectio n , including
sh a ll otherw ise etmiorn
findings
hy the Supervisor and review hy the Canal a sio a a r.
and decision
Tho testimony o f
the previous hearing; may ho «ado a p a rt o f the rehearing record.
5(a) .— All applicable provisions of these regulations, and M l
statements, coalitions, and stipulations contained in an opplicatior.
for a penult, and M l statement ?, evidence, affidavits, sod other
documents filed In support thereof, shall he considered as pari of
the terms and conditions of the permit•
(b).— 3&eh permit till specifically designate and limit the acts
authorisod hy it and the time and place Micro such acts «ay he
perfomed,
BucSi permit «ay he issued for any specified period, of
time, not exceeding ome year.
ap plication m á a l l a& tarial fa c t s ascertain ed sh a ll be taken in to
account by M s in acting thereon.
3(a)
a f t e r considering an ap plication * together with a l l
m aterial fa c t s ascertained by in vestigation *
Sapervisor I s o f
the opinion th at the applicant i s en title d to a permit under the law
and r o t a t i o n s , the Supervisor sh a ll i s m® the permit a s implied for*
( b ) .— I f the applicant i s not e n title d tinder subsection (a ) to
a perm it, the M p& rrXm r sh a ll d i s p r o v e the ap p licatio n and sh all
forthwith ad vise the applicant o f sod* áisai^ ro v a l and o f the grounds
therefor.
4(a) .—Within 15 days a fte r notice of disapproval, the applieanfc
may f i l e with the 3opervisor a request, in w riting, fo r a hearing
t^cn the ap p licatio n .
I f no r e v e s t fo r hearing i s received d i l l
such period, the disapproval sh a ll be f i n a l .
If ro p ie st fo r hearing
is reoeivéd within such period, the üipervisor sh a ll d e s l í a t e a
place and date of hearing and sh a ll n o tify the applican t thereof*
lo t ic e of p lace and date o f hearing sh a ll be- given not l e s s then 15
days l a advance of the date of hearing.
Following the hearing, rfiicih
siay be held by the taperviaor or M s duly m th erised agent, the
t ^ e r v i e r sím il »ate» fin dings on t*>.# beads oi the record, and sh all
thereupon, in accordance with the fin d in g s, affirm or reverse th®
disapproval of the ap p licatio n .
I f the o rig in al disapproval i s .
reversed, the liopervisor sh all promptly issn e the permit applied fo r.
I f the origin al d is a v o w a l i s affirm ed, | i | 3Bpervis©r sím il forthwith
Of entry I s SdtSl&ted &dy, In Isis dlSCTe ti® n, isiHMI li pSTBlit a u th o r is -*
lug» %he fngiortal1osti ©f vintati!© s p ir it s In watortsed eon talaera i f
aj^soepanled. by outheafcisated coriifi©ab®$ ©f o rl^s ©stablishing &m £ ì
spirits to b© as defined in these regolai ions.
4. -~teitalnerss* whether filled or ©npty, imported in violation
of the provisions of this Article shall be treated as li^oHfld ©ontrang
to law and shall be. denied entry into the United States.
5.
— nioniaiiiers of distillati spirits ©ported la bond «fiu&l not
he subject to these relaxations, and the nf^infaotur©, and the shipment
or delivery* of containers for paofeajgtag «deh spirita* as voli as
the waaafactor© for esportati © % and the eaportation to foreign
countries, of «sgaiy containers for paotea^iig distilled spirits for
sal© at retail i&siy» upon application, in th© discretion of the topervisor of the district in ehi eh such inaiwfaetur© is carried on, bo
authorised cider pernii.
6.
— ’
forever la those re alations th® nsao of any city or
country is required to bo blown in any bottle, the resse wm& be either
in the langaage of mxch country or in ^ U s h .
fignchn n
nmm.
mmmmm
1 .— remits sh&li be lamed only mp©a application therefor, filed
with the Snervi sor in sach fora ani in accordance with sodi rules as
«soy be prescribed- by the Cosmi seioner.
3 » — *'She
Sedervi aor shall aafco a thereof investigati on of each
fit -
for packaging distill»! spirits p o r t e d %
legibly either la the bottos or h
Ms*
3ha11 be
the bod/ of all «Pty
bottles imported under the provisions of fife p&r&#traph the mmm§
and the m m of f e city of address* of tbo importer thoraof» and
there shall bo blowi legibly la the ihattlder of each bottlo the
words -"Moral k f Forbids Sal« or Sense of Siis Bottle«*
2 .— From and after Jaiiaaiy 1 » 1936* ao distilled spirit» for
aal© at'retail ae/ bo Ijqpsrtod into the Halted States la containers
of
plat capacity or greater other than liquor bottles as
defined herein mil ess In aeeord&nee with the terras of a permit isaoirl,
upon proper application* %
the S^ortlsar of the district in * f l &
the port of entry is situated, ej^ressly authorising importation in
oontaia^rs other than liquor bottle»«
$his provision «hull not apply
to the tqpertation of distilled spirits in bulk containers of a
capacity of five ©In» gallons*or greater.
3,— From and after Jamary 1 * 1935# there shall be blow* legibly
either is the bottom or in the body of all liquor bottles imports
frm , foreign cooatrlee containing distilled spirits the name* end the
name ©f the city or country of address* of the mannfactortor of the
spirits* or of the «^porter abroad, or the nemo, and the a t m of the
eity of address* of the Importer in'
ahall
b e
the United States* and there
blow* legibly on the shoulder of each « e h bottle the wjrds
"Federal I*a© forbids Sal« or Mease of fhis Bottle«*
*bat
xipon proper application tho Supervisor of the district in *^i«h the
n|
of the district in sMfih their principal rJ-acos of wisiaoss
situated m
inventory of all bottles designed «• intended for the
packaswdng of distilled spirits on hand on Joly 31, 19'«, at their
respective plant« or places of bminees.
ms&
they »hali fuCTliBh 111*°
|
inventories and a ™ * reports, and they *hnU keep
mxch records, relating to the m ausifacturo, shipment, delivery,
pnrehaoe, m o , or sale mt all bottle» deeii5sed or intended for the
pat&aslnj-, of distilled spirits as tin» Cocniasioner nay t r m tiao to
time vwffiXrm.
ii.— Bie roeorda repaired to he kept wader the provisions *f
this article, sad all stocks of bottles 1® the hands of lfcjmr-bottle
K m f a c t a r a , distillers, rectifies, iapmters and Aolesale limner
dealers shall at all times he available for inspection V
t“»
Cannlasionor or hie assistants, agents and inspectors.
1 ,— Proo and after Bovsmber t, 1934, the torportatlon into the
Baited States of containers of one-half pint edacity or greater
for wse in paeteging distilled spirits for sale at retail, e«*»t
in coKiootion vith the toportatien of the Urjoar contained therein,
i. prohibited. a a s M A
*bai
application by any S o r t e r the
SBpervisor of the district in shiflh the port of entry is eitaatel
[any in his discretion, by the Issuance of an appropriate permit,
t'.ie iaportotlon ef empty Urftar bottles, or other cmtaino
» Q «*
or delivery dato reqoeeted %
thè consignée» shall he forv&rded %
111 distiller» rectifier» Inertes*, or «diolee&lo liquor dealer
placin ; thè order, te thè Superviser of thè district in ? M e h V m
coasi*7 iee,s place of business la situateci, ai thè t l m thè arder le
placet! é
2»~~A certìfled report «heeing thè nasia of thè aanofacturer'»
consigner, thè date #£ thè orde?* thè shlpplOft or delivery destination
thè Base ani addres# of thè c o a n i m a th© asthed ©f forearding* thè
oasber of package, «ad thè elee» qoaatity a?»! daacriptian of botilo©
fum i shed, ohall he formrded by thè saraxfactnrer-'Conal^or to thè
dopcrrlflor of thè district in «hi eh thè consignes9ft piace of business
le situateci \àimx m w shlpraoat or delivery of listar botti es la aade»
and a certifie! copy of sneh ressort «hall acootaq^ny thè shipsient or
delivery *
3.— A notice of thè receipt of shipEacnt or delivery* shcrdn
thè
nasse of ili© ®aniifactiir^>*c*,m»i|por* thè date of thn or&er* thè date
of shimeat or delivery* thè date of reeaipt* thè nethod of ffemurdlng
thè destination» thè noEiber of paeSsaf-es, and thè sise* quantlty and
description of botti es reedved* «hall ho torasrdad by thè coatiiprìe
to thè Superrisor of «te district la shieh thè consigne®1a place of
business is situated* upcn reeeipt of any ehipasiit or delivery of
liquor botti««*
4*— All persone sathorlsed by any acervi sor to engage in thè
«aiiafastore of liquor botile«* ansi all distillar»* rectifiera*
inporters and Wholesale llqtsor dealers oliali fimi ah to thè Sapervi sor
* 8 •
©thereto© conforming t o thee© regalati on* , is prohibited!
>
*ghab upon appi ic&ti oil by ai\y rectifier or udiolesal© li<$Eior dealer
the aopcrrisor of the district in s M d h the plant of sneh rectifier
or dolosa!® llcpor dealer is situated »ay* in M s discretion, V
the ieeoaace of m
appropriate permit, author!2 © the procurement
and use by «©eh, rectifier or tdiolesalo 1 leper# dealer of other
containers for the pack&tging of lineare* cordials, hitters», coartai Is,
gin flams, and each other specialties as * w
specified from time
to time by tius tosai asioner*
2*«*-!Tcm a n d a f t e r Hcnreeiber 1, 1934, »
distill or, rectifier,
importer, or w h o l e s a l e l i e n o r t o i l e r shall a c cept s M p s n m t or
delivery of
Honor
b o t t l e s « s eept
from p e r s o n s
holding permits under
t h e p r o v i s i o n s of paragraph. 1 o f A r t i c l e XI o f t h e s e r o ^ s l a t i o n s ,
3
,— M© distiller, rectifier, teperter, or C o l e m i e liquor
dealer shall use m w liquor bottle ©accept for packa^Ln.; distilled
spirits or resell any li por bottle «scoot In connection vith the sale
of its contents, or divert any liotwr bottle from M a ©*n use except
upon appi im.tion to and aiitliorizatioa by the Corsa!solo&vr*
1 #— A. certified cope/ of aaflh order for the shipment or delivery
of
lim o r
bottles, tfMHdng the ite&ie of the
m m f acttirer-consi|?aor,
the date of the carder, the shipping or delivery destination, the name
and address of the ©onslgpeet the caethod of fortcardiiis, and the shipment
2«"»<4fo persoti twegr ship* consign or d eliv er llqw Jr b o tti« «
except to floflh distillers, rectifiers, Shorter®, or «dioleeole
liquor dealers as may be certified la isidtlag' by the Supervisor
to be entitied under these reflations to receive shipment or
delivery*
S*— «Nere phall bo biava legibly eithar la thè bottoni or in
thè body of as&eh liquor botti e «goufecturel o» or a fte r dagn»t 1,
X9;5d# thè pern it imaaber e f thè flkenufeotur«rA thè ycasr o f mnnfaeiitr©
(uhi d i *a y be indicateci by thè lassi nomerai)* and a a ^ b o l aaaigaeé
by thè Sapervisor to repreeent thè m m o f thè d i s t i l l a r * r e c t i f ie r ,
iiaporter, or Wholesale liq u o r dealer proes-iriag thè enee» and there
eh all bo blowi le&ibly on ih® shoul&or o f each sutoh botti® thè mwén
•Pederal I*av forbii.« Sale or le s s e o f fh le Botti® ** feov,14^a>
liq u or botile® ot d istin c tiv e a fe *« or àm ìgp . fo v thè packaging of
l i m m m $ c o rd iale, b it te r s * c o i t a l i » * g ià fisso®#
^ cV* ot;‘i45r
s p e d a i t i s s a® aey be ap eelfied fr a » tifa® to I b » by thè Corsoi s^ìoaer,
giay be aaJiafacttired
ahipped* eotudgned or dellverod vdthait
in d ia la repreeenting thè nasi© of thè di e t i l i er* r e e t i f te r » importar
or «to le sa lo liq u or dealer procurine thè «arso.
JLXX-s
pAcau^nsa p m B j j f t |ggl8&
1.— Prora and after Wovetabor 1* 1934, ih® no® fer packagiJV?
distili od spirita for «ale at rotai! of emtniaersi o f ano-bali pini
capaci ty or grealor, other than liqaor botile» as b a r e ! » deifiited s&o
SS «
(j) *&®ctìfl«r* shall tumm. a w p m m m roqaired io f|É special
tax &s sueh, porsaant io Saetto* « # * *♦
•**
*® «nthorised
io obtaln distili ed spirito in btìftfe coniai»«.
(k) "haparter* acrili «ean ar^ peraon autharlaeA io tepori
disiiliod spirita inio ih« United States*
(l) *«holeeale Xdqaer Dealer* itali a*@an W
io pay special i&x as ancfe*
porson retmired
io Seciton 3344* »*$•♦ and *^w>
is anteori&eà io botti «i! distili «il spirita*.
(ra) *Tintag!« ipirti©* Sja$l mmn
all tesori©! di siili od spirita
Alcii are noi loca tha» ten yaars old a?4
m i m botti od prior
io ilio «ffestive dato of thè«« re^steilons*
(n) •Ufcdted States* «hall mean tip coni inaiai United States
and
its oatìyin® possessione io A l d i ih© iniomal-rovorno lave
m à all ather posaeaslons of thè United States shall b# temati io be
f o r a i cmmtriea far thè pwrpaoe# of ihese regalati m e .
I
i c m h M fon ?À(XA0im.
1*— A*y persos iaboadtel io en^re in te* manttfacbro'e of llipor
boi iles abbili qftply io ih« S^>ervisor of ih# districi in Elicti M i
principi placa of'business is sitsated for a» appropriato partii
aaiihotrizinc. hii» io an6&ge te «mah raamfectare and# excer>t m maff
othervlse ho provided herein* no poroon nay hereaftar «ajmfneter©,
ooatsign or dolivor liquor botilo® m i ose in accordanee »ite
ih# t e m a of m t e a pernii•
liqpieurs, cordial® ami bitters, a»A all compounds, by #*&tev@r
n m ® called, containing distilled spirits ami fit for beverage
parpens*» bat tteali not Include nine ©onteliiAng 24 par Centura
m
less of alcehol by volume*
(d)
thall mean the Commissioner of Internal
Revenue*
(e) *liiifaor Bottle* A n i l ©atm any glass container for
passaging distilled spirits for sale at retail, of a capacity of
onc-iialf pint or g r e a t ^ o s m f o s n l n g to those reflat i o n s
md
to the
revelations prescribed by the federal Alcohol Control Administration,
the reflation® in that regard- heretofore promulgated by the
federal Alcohol Control Adninlstrati m being hereby adopted as a
part of these reflations«
(See note,)
(f) •Application* shall »©an a formal w i t ton rosiest for a
pemit for on® or more of the privilege® authorised by these
reflations, verified under oath or supported by a verified statmeat
of facts*
(u) *Permit* shall mean a nribten etherisation signed %
Supervisor, describing the
the
acts pemittsd to be performed*
(h) •Person* shall M e n and include natural persona, associations,
copartiiwshipa end corporations.
(i) *M a t ill or* «boll mean «mgr-person speanttng a registered
distillery4under the IsternelHPewenne lavs but shall not include the
proprietor of an Industrial alcohol plant*
w o r n Digest o f p e r t i n e n t p o r t i o n s o f t h e r e g u l a t i o n s of the federal
Al c o h o l Control A d m i n i s t r a t i o n $U11 be found i n Appendix B.
Regulations under the provisions of Jo in t
Resolution approved Juno 18# 1934* matiHed * Jo in t
losolntion to i>rotcet the Revenue by Regulation of
the traffic in Container® of D istille d % i r i t s ."
w m m m mrAimmT,
Office of the Secretary,
w&^ington, D# C.
July
to msfHici m^mnsom
mmm t or m w
ajto
m v m
» 1934*
m mm
soramoe
QkMGmmyt
The following regulations are prescribe ; under the provisions
of the Joint Resolution approved June
18,*
1934* entitled "Joint
Resolution to Protect the Revenue by Regulation of the Traffic In
Containers of Distilled Spirits)*
am
cL% | - B&mvntm
lm those resolutions the following words and phrases shall*
unless otherwise stated* be considered as having the mining herein
defined)
(a) "Act*
s h a ll
mean the Joint Resolution of Congress, approved
June 18, 1934# entitled "Joint Resolution to Protect the Hevemio by
Regulation of the Traffic in Containers of Distilled Spirits.*
(b) "Sepervisor* shall raa&m the District teorvitior of the
Alcohol Tax Unit of the Duress* of internal Revenue*
(c) "Distill ed Spirits* shall mean sny alcoholic distillate
fit for beverage purposes* such as sfoisksy, brandy, gin# rum#
Th© Secretary of th© T r m m m t
The w d « r s i # i e d a m b e r s of the Oonsltto* dealgnated by y oa
to consider r e g s U U e a s nnder the prcrlsiona
f
at>&r©v©& Jtm© 13, 1934, entitled *Joint Hesolutlon to l*rot^t tnd
Z Z T * T ^ i ° * * the Traffic 1 - C o n t a l n e r . o f ^ ^ U o d
Spirits*, Sitaii herewith a draft of m m regolatioas with the roeaas&endaUon that they h o giv«a year approval.
Acting Deputy Coeraissioner of
Internal M r o m m *
.............................................
........................ ......—
.
Assistant to the Costalssi oner of
Internal Beveiaie.
Assistant to Ceacrisl Counsel
freasnry Department*
Acting fechalcal Adviser,
Alcohol fife » •
Masher, Federal Alcohol Control
A&aiai strati on.
I concur In the shove recasnend^tion.
Coitaissioner of Internal BOfSBoe.
All persons authorized to manufacture liquor bottles, and all
distillers, rectifiers, importers and wholesale dealers, are required to
furnish the Supervisor, Alcohol Tax Unit,of their district,an inventory of
all bottles on hand July 51,1954,designed or intended for packaging distilled
spirits»
They also are required to furnish subsequent reports of this nature,
Their records and stocks must tfcopen for inspection by Government officers.
Regarding imported liquors, the regulations provide that,commencing
November 1, liquor bottles must bear a blown in inscription shown the name of
the city of origin,the name of importer,and on the shoulder of the bottle
the warning:
"Federal Law Forbids Sale or Reuse of This Bottle»" On and after
January 1, 1955, no diiilled spirits for sale at retail may be imported in
containers of one-half pint capacity or greater,other than liquor bottles
as defined by the regulations,unless in accordance with the terms of a permit
issued by the Supervisor, expressly authorizing importtation in containers
other than liquor bottles.
This provision however, will not apply to bulk
importations in containers with a capacity of five gallons,or more»
Purchase or sale of liquor bottles, except as provided by the regulati
is prohibited.
The reuse of such bottles for packaging distilled spirits
is l i k e w i s e forbidden.
Possession of used liquor bottles by any person
other than the one who empties the contents is likewise prohibited.
The
regulations,however state that this restriction shall not prevent the owner oi
occupant of any premises upon which liquor bottles may lawfully be emptied
from assembling them in reasonable quantities upon such premises for purposes
Lction.
Regulations to control manufacture, sale and use of liquor bottles,
and providing effective safeguards
ent illegal use of such containess,
were approved today (July if )by the
ary of the Treasury. The regulations
are effective August 1, and are in accordance with an Act of Congress,approved
June 18, empowering the Secretary of the Treasury to protect the revenue by
regulation of the traffic in containers of distilled spirits,intended for
retail sale and for beverage purposes.
Liquor bottle manufacturers are required to obtain a Government permit.
They will not be permitted to deliver liquor bottles to distillers,rectifiers,
importers or wholesale dealers,unless buyers in those groups have been certified
as entitled to receive them.
This certification must be made by the Supervisor
Alcohol Tax Unit, Internal Revenue Bureau,in the district where the transaction
originates.
Beginning August
the regulations provide, there shall be blown
legibly in the bott&msor body of liquor bottles, the manufacturer^ permit number
the year of manufacture indicated by the last numeral, and a symbol assigned by
the Supervisor,representing the name of the distiller,rectifier, importer or
wholesale dealer procuring the bottles.
the shoulder of the bottle, the words;
This Bottle".
There must also be blown legibly on
"Federal Law Forbids Sale or Reuse of
Beginning on November ^ n e x t , all liquor bottles for use in
packaging distilled spirits for sale at retail in containers of one-half pint
capacity or greate^f must conform
to this requirement.
A system of inspection, reports and records for official audit, relating
to quantity of liquor bottles manufactured, the names of the buyers,together
with other information required,is authorized by the regulations
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE, "
SATURDAY, JULY 14, 1934.
Press Service
No. 2 - 2 2
Regulations to control manufacture, sale and use of liquor bottles,
and providing effective safeguards to prevent illegal use of such containers,
were approved Friday, July 13,by the Acting Secretary of the Treasury.
The
regulations are effective August 1, and are in accordance with an Act of
Congress, approved June 18* empowering the Secretary of the Treasury to pro
tect the revenue by regulaticn of the traffic in containers of distilled
spirits, intended for retail sale and for beverage purposes.
Liquor bottle manufacturers are required to obtain a Government permit.
They will not be permitted to deliver liquor bottles to distillers, rectifiers,
importers or wholesale dealers, unless buyers in those groups have been certified
as entitled to receive them.
This certification must be made by the Supervisor,
Alcohol Tax Unit, Internal Revenue Bureau, in the district where the transaction
originates.
Beginning August 1, the regulations provide, there shall be blown
legibly in the bottom or body of liquor bottles, the manufacturers permit
number, the year of manufacture indicated by the last numeral, and a symbol
assigned by the Supervisor, representing the name of the distiller, rectifier,
importer or wholesale dealer procuring the bottles.
legibly on the shoulder of the bottle, the words:
Reuse of This Bottle".
There must also be blown
“Federal Law Forbids Sale or
Beginning on November 1 next, all liquor bottles for
use in packaging distilled spirits for sale at retail in containers of one-half
pint capacity or greater must conform to this requirement.
Purchase or sale of liquor bottles, except as provided by the regulations
is prohibited.
The reuse of such bottles for packaging distilled spirits is
- 2 -
likewise forbidden.
Possession of used liquor bottles by any person other
than the one who empties the contents is likewise prohibited.
The regulations,
however» state that this restriction shall not prevent the owner or occupant
of any premises upon which liquor bottles may lawfully be emptied from assembling
them in reasonable quantities upon such premises for purposes of destruction,
A system of inspection, reports and records for official audit, relating
to quantity of liquor bottles manufactured, the names of the buyers, together
with other information required, is authorized by the regulations.
All persons authorized to manufacture liquor bottles, and all distillers,
rectifiers, importers and wholesale dealers, are required to furnish the Super
visor, Alcohol Tax Unit, of their district, an inventory of all bottles on hand
July 31, 1934, designed or intended for packaging distilled spirits.
are required to furnish subsequent reports of this nature.
They also
Their records and
stocks mast be open for inspection by Government officers.
Regarding imported liquors, the regulations provide that, commencing
November 1, all empty liquor bottles imported must bear a blown in inscription
showing the name of the city of origin, the name of importer, and on the
shoulder of the bottle the waxming:
This Bottle.”
‘'Federal Law Forbids Sale or Reuse of
On and after January 1, 1935, no distilled spirits for sale at
retail may be imported in containers of one—half pint capacity or greater, other
than liquor bottles as defined by the regulations, unless in accordance with the
terms of a permit issued by the Supervisor, expressly authorizing importation in
containers other than liquor bottles.
This provision, however, will not
apply to bulk inportations in containers with a capacity of five gallons, or more.
Regulations -under the provisions of Joint
Resolution approved June 18,1934, entitled ”Joint
Resolution to Protect the Revenue by Regulation of
the Traffic in Containers of Distilled Spirits.11
TREASURY DEPARTMENT
Office of the Secretary,
Washington, D. C.
July 13, 1934®
TO DISTRICT SUPERVISORS OF THE
BUREAU OF INTERNAL REVENUE
AND OTHERS CONCERNED:
The following regulations are prescribed under the provisions
of the Joint Resolution approved June 18, 1934, entitled ’’Joint
Resolution to Protect the Revenue by Regulation of. the Traffic in
Containers of Distilled Spirits:”
ARTICLE I - DEFINITIONS
In these regulations the following words and phrases shall,
unless otherwise stated, be considered as having the meaning herein
defined:
(a) 11Act” shall mean the Joint Resolution of Congress, approved
June 18, 1934, entitled ”Joint Resolution to Protect the Revenue by
Regulation of the Traffic in Containers of Distilled Spirits.”
(b) ’’Supervisor” shall mean the District Supervisor of the
Alcohol Tax Unit of the Bureau of Internal Revenue®
(c) ’’Distilled Spirits” shall mean any alcoholic distillate
fit for beverage purposes, such as whiskey, brandy, gin, rum,
- 2 -
liqueurs, cordials and Meters, and all compounds, "by whatever
name called, containing distilled spirits and fit for beverage
purposes, hut shall not include wine containing 24 per centum
or less of alcohol by volume.
(d) 11Commissioner" shall mean the Commissioner of Internal
Revenue.
(e) "Liquor Bottle" shall mean any glass container for
packaging distilled spirits for sale at retail, of a capacity of
one-half pint or greater, conforming to these regulations and to the
regulations prescribed by the Federal Alcohol Control Administration,
the regulations in that regard heretofore promulgated by the
Federal Alcohol Control Administration being hereby adopted as a
part of these regulations.
(See note.)
(f) "Application" shall mean a formal written request for a
permit for one or more of the privileges authorized by these
regulations, verified under oath or supported by a verified statement
of facts.
(g) "Permit" shall mean a written authorization signed by the
Supervisor, describing the acts permitted to be performed.
(h) "Person" shall mean and include natural persons, associations,
copartnerships and corporations.
(i) "Distiller" shall mean any person operating a registered
distillery under the internal-revenue laws but shall }|ot include the
proprietor of an industrial alcohol plant.
NOTE: Digest of pertinent portions of the regulations of the Federal
Alcohol Control Administration will bo found in Appendix B.
- 3 -
(j) "Rectifier" shall mean any person required to pay special
tax as such, pursuant to Section 3244, R* S., and who is authorized
to obtain distilled spirits in hulk containers,
(k) "Importer" shall mean any person authorized to import
distilled spirits into the United States.
(l) "Wholesale Liquor Dealer" shall mean any person required
to pay special tax as such, piirsuant to Section 3244, R.S., and who
is authorized to bottle distilled spirits.
(m) "Vintage Spirits" shall mean all imported distilled spirits
which are not less than ten years old and y/hich v/ere bottled prior
to the effective date of these regulations.
(n) "United States" shall mean the continental United States and
its outlying possessions to which the internal-revenue laws apply;
and all other possessions of the United States shall be deemed to be
foreign countries for the purposes of these regulations.
ARTICLE II - MANUFACTURE M D SALE OR
BOTTLES EOR PACKAGING DISTILLED SPIRITS.
1.— Any person intending to engage in the manufacture of liquor
bottles shall apply to the Supervisor of the district in which his
principal place of business is situated for an appropriate permit
authorizing him to engage in such manufacture and, except as may
otherwise be provided herein, no person may hereafter manufacture,
ship, consign or deliver liquor bottles unless in accordance with
the terms of such a permit
- 4 -
2.
— No person may ship, consign or deliver liquor "bottles
except to such distillers, rectifiers, importers, or wholesale
liquor dealers as may he certified in writing hy the Supervisor
to he entitled under these regulations to receive shipment or
delivery.
3,
-«-There shall he blown legibly either in the bottom or in
the body of each liquor bottle manufactured on or after August 1,
1934, the permit number of the manufacturer, the year of manufacture
(which may be indicated by the last numeral), and a symbol assigned
by the Supervisor to represent the name of the distiller, rectifier,
importer, or wholesale liquor dealer procuring the same, and there
shall be blown legibly on the shoulder of each such bottle the words
"Federal Law Forbids Sale or Reuse of This Bottle:" Provided, That
liquor bottles of distinctive shape or design for the packaging of
liqueurs, cordials, bitters, cocktails, gin fizzes, and such other
specialties as may be specified from time to time by the Commissioner,
may be manufactured and shipped, consigned or delivered without
indicia representing the name of the distiller, rectifier, importer
or wholesale liquor dealer procuring the same.
ARTICLE III - USE OF BOTTLES FOR PACKAGING DISTILLED SPIRITS.
1.— From and after November 1, 1934, the use for packaging
distilled spirits for sale at retail of containers of one-half pint
capacity or greater, other than liquor bottles as herein defined and
- 5 -
otherwise conforming to these regulations, is prohibited: Provided,
That upon application by any rectifier or wholesale liquor dealer
the Supervisor of the district in which the plant of such rectifier
or wholesale liquor dealer is situated may, in his discretion, by
the issuance of an appropriate permit, authorize the procurement
and use by such rectifier or wholesale liquor dealer of other
containers for the packaging of liqueurs, cordials, bitters, cocktails,
gin fizzes, and such other specialties as may be specified from time
to time by the Commissioner#
and after November 1, 1934, no distiller, rectifier,
importer, or wholesale liquor dealer shall accept shipment or
delivery of liquor bottles except from persons holding permits under
the provisions of paragraph 1 of Article II of these regulations#
3#——No distiller, rectifier, importer, or wholesale liquor
dealer shall use any liquor bottle except for packaging distilled
spirits or resell any liquor bottle except in connection with the sale
of its. contents, or divert any liquor bottle from his own use except
upon application to and authorization by the Commissioner#
ARTICLE IV - REPORTS AND INVENTORIES#
1#-~A certified copy of each order for the shipment or delivery
of liquor bottles, showing the name of the manufacturer—consignor,
the date of the order, the shipping or delivery destination, the name
and address of the consignee, the method of forwarding, and the shipment
or delivery date requested "by the consignee, shall he forwarded hy
the distiller, rectifier, importer, or wholesale liquor dealer
placing the order, to the Supervisor of the district in which the
consignee's place of business is situated, at the time the order is
placed.
2.
— -A certified report showing the name of the manufacturer-
consignor, the date of the order, the shipping or delivery destination
the name and address of the consignee, the method of forwarding the
number of packages, and the size, quantity and description of bottles
furnished, shall be forwarded by the manufacturer-consignor to the
Supervisor of the district in which the consignee's place of business
is situated when any shipment or delivery of liquor bottles is made,
and a certified copy of such report shall accompany the shipment or
delivery*
3.
— A notice of the receipt of shipment or delivery, showing the
name of the manufacturer—consignor, the date of the order, the date
of shipment or delivery, the date of receipt, the method of forwarding
the destination, the number of packages, and the size, quantity and
description of bottles received, shall be forwarded by the consignee
to the Supervisor of the district in which the consignee's place of
business is situated, upon receipt of any shipment or delivery of
liquor bottles,
4.
— All persons authorized by any Supervisor to engage in the
manufacture of liquor bottles, and all distillers, rectifiers,
importers and wholesale liquor dealers shall furnish to the Supervisor
- 7 -
of the district in which their principal places of "business are
situated an inventory of all "bottles designed or intended for the
packaging of distilled spirits on hand on July 31, 1934, at their
respective plants or places of "business*
They shall furnish also
such subsequent inventories and such reports, and they shall keep
such records, relating to the manufacture, shipment, delivery,
purchase, use, or sale of all bottles designed or intended for the
packaging of distilled spirits as the Commissioner may from time to
time require*
5*— »The records required to be kept under the provisions of
this article, and all stocks of bottles in the hands of liquor-bottle
manufacturers, distillers, rectifiers, importers and wholesale liquor
dealers shall at all times be available for inspection by the
Commissioner or his assistants, agents and inspectors.
ARTICLE V - IMPORTS AND EXPORTS.
1.— -From and after November 1, 1934, the importation into the
United States of containers of ono—half pint capacity or greater
for use in packaging distilled spirits for sale at retail, except
in connection with the importation of the liquor contained therein,
is prohibited: Provided, That upon application by any importer the
Supervisor of the district in which the port of entry is situated
nay in his discretion, by the issuance of an appropriate permit,
authorize the importation of empty liquor bottles, or other containers,
-
8
-
for packaging distilled spirits imported by him.
There shall he
blown legibly either in the bottom or in the body of all empty
bottles imported under the provisions of this paragraph the name,
and the name of the city of address, of the importer thereof, and
there shall be blown legibly in the shoulder of each bottle the
words "Federal Law Forbids Sale or Reuse of This Bottle,"
2,
-«From and after January 1, 1935, no distilled spirits for
sale at retail may be imported into the United States in containers
of one-half pint capacity or greater other than liquor bottles as
defined herein unless in accordance with the terms of a permit issued,
upon proper application, by the Supervisor of the district in which
the port of entry is situated, expressly authorizing importation in
containers other than liquor bottles.
This provision shall not apply
to the importation of distilled spirits in bulk containers of a
capacity of five wine gallons, or greater.
3.
— From and after January 1, 1935, there shall be blown legibly
either in the bottom or in the body of all liquor bottles imported
from foreign countries containing distilled spirits the name, and the
name of the city or country of address, of the manufacturer of the
spirits, or of the exporter abroad, or the name, and the name of the
city of address, of the importer in the United States, and there
shall be blown legibly on the shoulder of each such bottle the words
"Federal Law Forbids Sale or Reuse of This Bottle:" Provided, That
upon proper application the Supervisor of the district in which the port
- 9 -
of entry is situated may, in his discretion, issue a permit authoriz
ing the importation of vintage spirits in containers not so marked
if accompanied by authenticated certificates of origin establishing
such spirits to be as defined in these regulations.
4.
— Containers, whether filled or empty, imported in violation
of the provisions of this Article shall be denied entry into the
United States.
5.
— Containers of distilled spirits exported in bond shall not
be subject to these regulations, and the manufacture, and the shipment
or delivery, of containers for packaging such spirits, as well as
the manufacture for exportation, and the exportation to foreign
countries, of empty containers for packaging distilled spirits for
sale at retail may, upon application, in the discretion of the Super
visor of the district in which such manufacture is carried on, be
authorized under permit.
6.
— Wherever in these regulations the name of any city or
country is required to be blown in any bottle, the name may be either
in the language of such country or in English,
ARTICLE VI - PERMITS, REVOCATION PROCEEDINGS.
1.
— Permits shall be issued only upon application therefor, filed
with the Supervisor in such form and in accordance with such rules as
may be prescribed by the Commissioner.
2. — The Supervisor shall make a thorough investigation of each
~
10
application and all material facts ascertained snail be token into
account by him in acting thereon«
3(a)«— If, after considering an application, together with all
material facts ascertained by investigation, the Supervisor is of
the opinion that the applicant is entitled to a permit under the law .
and regulations, the Supervisor shall issue the permit as applied for«
(b).— If the applicant is not entitled under subsection (a) to
a permit, the Supervisor shall disapprove the application and shall
forthwith advise the applicant of such disapproval and of the grounds
therefor*
4(a).— Within 15 days after notice of disapproval, the applicant
may file with the Supervisor a request, in writing, for a hearing
upon the application«
If no request for hearing is received within
such period, the disapproval shall be final.
If request for hearing
is received within such period, the Supervisor shall designate a
place and date of hearing and shall notify the applicant thereof«
Notice of place ,and date of hearing shall be given not less than 15
days in advance pi" the date of hearing«
Following the hearing, which
may be held by the Supervisor or his duly authorized agont, tho
Supervisor shall make findings on the basis of the record, and shall
thereupon, in acpordance with the findings, affirm or reverse the
disapproval of the application*
If the original disapproval is
reversed, the Supervisor shall promptly issue the permit applied for«
If the original disapproval is affirmed, tho Supervisor shall forthwith
-
11
-
notify the applicant, who may, within 15 days of such notification,
file with the Supervisor a request for review of the record "by the
Commissioner.
The Supervisor shall forward sucxi request to the
Commissioner, together with a copy of the record* .
("b)
If the Commissioner shall grant such review and shall,
upon the record of the hearing "before the Supervisor, reverse the
findings of the Supervisor, he shall remand the record for further
proceedings in accordance with his findings*
If he affirms the
findings of the Supervisor, he shall so notify the applicant and his
action thereon shall "be final*
(c).— Should the Supervisor or Commissioner deem a rehearing
necessary he may, upon application by the permittee, or on his own
motion, order the same, and such rehearing shall be held before the
Supervisor, or his duly authorized agent, and shall otherwise conform
to the requirements of this section, including findings and decision
by the Supervisor and review by the Commissioner*
The testimony of
the previous hearing may be made a part of the rehearing record*
5(a),— -All applicable provisions of those regulations, and all
p -'
statements, conditions, and stipulations contained in an application
for a permit, and all statements, evidence, affidavits, and other
documents filed in support thereof, shall be considered as part of
the terms and conditions of the permit*
(b),— -Each permit will specifically designate and limit the acts
authorized by it and the time and place where such acts may bo
performed*
Such permit may be issued for any specified period of
timo, not exceeding one year*
-
12
6.-«If the Supervisor has reason to "believe that the permittee
has violated, or is violating, any of the provisions of the Act,
the regulations thereunder, or any of the terms or conditions of
the permit, he shall serve a citation upon such permittee, ordering
him to appear at a time and place designated in the citation, and
show cause why his permit should not "be suspended or revoked*
The
hearing, date shall not "be earlier than 15 days after the date of
service of the citation*
The permittee may appear at such hearing
in person, or "by attorney, and he and the attorney for the Government
may offer sush evidence, including affidavits, and submit such
arguments and briefs with respect to the permit as may be deemed
appropriate.
The Supervisor shall cause the testimony to be duly
recorded, and, upon completion of the hearing, shall make a finding
and order suspending or revoking the permit, or dismissing the
proceedings, as in his judgment the evidence may warrant*
then promptly notify the permittee of his action*
He shall
Should the
permittee desire a review of the finding and order by the Commissioner,
the procedure in such case shall conform to that prescribed in section
4 hereof for applicants for permits, except that the order of the
Commissioner shall be for a rehearing or for the reversal end remanding
of the proceeding or for the final revocation of the permit*
7.— The citation in revocation and suspension proceedings shall
contain a statement of the acts charged as having been committed by
the permittee and constituting grounds upon which suspension or
- 13 -
revocation of his permit is sought#
Service of such citation shall
"be made "by mailing an original copy thereof to the permittee, hy
registered mail (with request for registry return receipt card),
at the address stated in the permit, or "by delivery of such original
copy to such permittee personally "by an officer or agent of the
Commissioner#
A certificate of mailing and the registry return card,
or certificate of the officer or agent making personal service shall
he filed as part of the record in the case and shall he prima facie.
evidence of valid
service of the citation#
8#*— »When any permit is suspended, revoked or surrendered, stocks
of liquor bottles on hand or in process may he disposed of hy the
permittee in accordance with directions of the Commissioner#
If such
stocks are not so disposed of, they shall he seized and forfeited as
provided in the Act#
ARTICLE VII - PURCHASE# SALE AND POSSESSION OF USED
BOTTLES.
q#«.«j2he purchase or sale of used liquor hottles, except as herein
provided, and the reuse thereof for packaging distilled spirits, are
prohibited.
g.^fc.'Phe possession of used liquor hottles hy any person other
than the person who empties the contents thereof is prohibited#
This shall not prevent the owner or occupant of any premises upon
which such hottles may lawfully he emptied from assembling the same
14
in reasonable quantities upon such, premises for the purpose of
destruction»
ARTICLE VIII - GENERAL PROVISIONS.»
1»~*-The Deputy Commissioner in Charge of the Alcohol Tax Unit,
Bureau of Internal Revenue, and his assistants, agents, and
inspectors are, under the direction of the Commissioner, charged with
the administration and enforcement of the Act and these regulations»
2,--Except as otherwise provided herein, these regulations
shall become effective on August 1, 1934»
(Signed) T, J. COOLIDGE
Acting Secretary of the Treasury#
APPENDIX
B
DIGEST OE CERTAIN PORTIONS OE REGULATIONS OE THE
FEDERAL ALCOHOL CONTROL ADMINISTRATION
RELATING TO STANDARD BOTTLES
1.
The standard bottles prescribed by Regulations of the
Federal Alcohol Control Administration are bottles of such size
that they hold distilled spirits in an amount equal to one of
the standards of fill set forth in paragraph 2, with a head space
not in excess of 5 per centum of the total capacity of the bottle
after closure,
2m
(a)
The standards of fill are as follows (fills in
amounts less than -J' pints omitted):
A - PERMANENT STANDARDS
For all distilled spirits, whether domestically
manufactured, domestically bottlod, or imported*
1 gallon,
l/2 gallon,
1 quart,
4/5 quart,
1 pint,
l/2 pint.
In addition, for Scotch and Irish whiskey and
Scotch and Irish type whiskey of domestic manu
facture; and for brandy and rum, whether domes
tically manufactured, domestically bottled, or
imported:
4/5 pint.
APPENDIX
A
(Public Resolution - No. 40 - 73d Congress)
(H.J. Res. 370)
JOINT RESOLUTION
To protect the revenue "by regulation of the traffic in
containers of distilled spirits.
Resolved by the Senate and House of Representatives of the
United States of America in Congress assembled, That whenever in
his judgment such action is necessary to protect the revenue, the
Secretary of the Treasury is authorized, by the regulations prescribed
by him, and permits issued thereunder if required by him (l) to
regulate the size, branding, marking, sale, resale, possession, use,
and re-use of containers (of a capacity of less than five winegallons) designed or intended for use for the sale at retail of distilled
spirits (within the meaning of such term as it is used in title II of
the Liquor Taxing Act of 1934) for other than industrial use, and
(2) to require, of persons manufacturing, dealing in, or using any
such containers, the submission to such inspection, the keeping of
such records, and the filing of such reports as may be deemed by
him reasonably necessary in connection therewith. Whoever will
fully violates the provisions of any regulation prescribed, or the
terms or conditions of any permit issued, pursuant to the authoriza
tion contained in this joint resolution, and any officer, director, or
agent of any corporation who knowingly participates in such viola
tion, shall, upon conviction, be fined not more than $1,000 or be
imprisoned, for not more than two years, or both; and, notwithstand
ing any criminal conviction, the containers involved in such violation
shall be forfeited to the United States, and may be seized and
condemned by like proceedings as those provided by law for forfeitures,
seizures, and condemnations for violations of the internal-revenue
laws, and any such containers so seized and condemned shall be destroyed
and not sold* Any requirements imposed under this joint resolution
shall be in addition to any other requirements imposed by, or pursuant
to, existing law, and shall apply as well to persons not liable for tax
under the internal-revenue laws as to persons so liable.
Approved, June 18, 1934.
- 2 -
B « TEMPORARY ADDITIONAL STANDARDS
For Irish whiskey and Irish type whiskey of domestic
manufacture; and for rum, whether domestically manu
factured, domestically bottled, or imported:
3/4 quart,
3/4 pint.
For brandy' and Hollands gin, whether domestically
manufactured, domestically bottled, or imported:
25/32 quart,
3/4 quart,
25/32 pint,
3/4 pint,
(b)
The temporary additional standards under MB" above
are the permanent standards, but apply only with respect to domes
tically bottled distilled spirits sold or introduced into commerce
and to imported distilled spirits consulated for importation, on or
before December 31, 1934,
(c)
Certain tolerances not here sot forth are allowed in
the fill*
3,
As used with reference to standard bottles, the term
11gallon” means U* S. Gallon of 231 cubic inches of alcoholic
beverages at 68° F, (20° C,), and all other units of liquid
measure are subdivisions of the gallon as so defined,
4*
Copies of the Regulations of the Federal Alcohol Con
trol Administration may be obtained from the Federal Alcohol
Control Administration, Transportation Building, Washington, D, C#,
upon a request for REGULATIONS RELATING TO STANDARDS OF FILL FOR
BOTTLED DISTILLED SPIRITS (Misbranding Regulations, Series 2).
PAGE k
Bist.
...........1 . 0 . . . . . . . .
State
10
(cont)
N.Mex
Gals. of Gals, of
Stills
(Spirits Mash
SeizecL .Capacity-|Balgafl- Seized——
NOT REPORTED
6
TOTAL
11
A*fo
[ / X (a
Value of
Property
Average
BestroyM ..Ar.r.e.s.t..s Capacity.
J/V’ÀjiîL
S 1 O
JZ 0 Q . ! <3-oo»
Cal.
and
Uev. I
13
TOTAL !
12
Value of
Autos Trucks Property
-Seized -Seized. .Seized_
Wash.
JL2Z
-43ÊL
Ore« I
550
¿♦051
JL325.
40
J3l
Mont.i
.35.
1.315
_25CL
44
Idaho i
TOTAL!
GBAUD
TOTAL i
8
A7L
201
30.003
ÎLo
7
Jo*
JL51
I
6.139
-¿,301
J2_
367,434
52
6 X6if
^ 4 35
1.359
40.245
25.552
I 2d'7 5 V
\r*-
Average capaci y of stills seised 149 gallons.
I
15
390
1/^6
PAG-5 3
Di st.
TSo. State!
Stills
Seized
Capacity
Gals, of Gals, of
Spirits Fash
Seized
Seized
f 7
{cont)
Ind
Trucks
Seized
Autos
Seized
Value of Value of
Property Property
Seized
Destroyed.
200
$12«
9 1 ,1 6 0
$ 1 ,8 6 9 .
.¿teres:Is..
Average
Capacity
1*4
87*4
$12.
j
$1,*419
to ta l
6,120
N.D.
20
Minn.
35
149
200
35
250
90
6*42
125
3 O5
1*46
8*42
$ 801 .
$*451.
176
98
1 ,5 5 0
$5*45.
$70.
1*4
59
3
220
62
2 ,050 j
1737.
$567.
17
73
13
1,210
*438
10.6 9 2 j
$1,83^
21
93
76
2,100 1
$335
10
Neb
53^
!
20
Iowa
TOTAL!
Okla.
10
IO O
Colo.
lAriz .
H-
? D
! $1.969
$335.
$3 , 586. j $2 , 806,
\Tc>
5^0
Utah
-
16,392
2*4 1 1,<
Wyo
— 1
*
t
TOTAL!
*
5
Ark.
i
CM
Mo
1
n le
¿LO o
tfO
Ìo
3X0
180
S*.
I
vTo,
3
/ o *
ss,
62
r
*
68
PAGE 2
—= = .
B is t.
S tills
Tto. jstate| Seized
:----. . .r . . .
——
.... —Value of
Sals. of Gals. of
Trucks
Property
Autos
S p irits Vasil
Seized
Seized
I. Capacity. Seized.... Seized...... ....Seized.
b
10
( cont) i D.C. !
6
7
Average
..Capacity...... i __________ _
1
$50.
$ 2 .3 3 6 .
$ 1 ,1 *1 .
72
91
»
?
3,809 !
72H
32,8»»
7
11
1,660
2U7
12,370
-
-
$ 2 ,0 9 9 .
$2.099
22
151
1 H a. |
20
3.695
U39
16,050
5
1
$ 5 ,9 9 1 .
$14,771.
12
185
i Ala. |
8
2,500
17U
9 ,6 5 0
b
-
$ 1 .0 3 5 .
$760.
19
312
! Viss.j
9
1,025
1 *3
1,3»»
5
«
$1,2149.
$709.
17
llU
i La.
•
:
5
220
28*
1,500
2
-
$1+52.
$332.
18
bb
1 Tex. j
9
1,3 5 0
2SU
U.U30
b
—
¡TOTAL 1
62
10.U50
1,571
*5 .3 * 0
20
I Mich.j
12
U22
262
2,580
-
i Ohio 1
3
250
137
3,2 0 0
1
! Ky.. 4
15
7**5
300
* ,* 2 5
i Tenn.i1
8
950
132
¡TOTAL f
A■- —..ii
1
Ü
1 Wis. 1
38
2.3 6 7
U
j 111. 1
3
¡TOTAL j
5
Value of
Property
Destroyed A rrests
! Ga.
!
1
$ 2 ,2 9 1 .
$ i ,s * i
^5
150
1
$ 1 3.117.
$10,512.
133
169
-
$ 1 ,1 2 6 .
$1,126
16
35
-
$725.
$625.
b
83
2
-
$ 2 ,1 > ».
$1.1*65.
23
50
9 ,9 5 0
b
-
$ 2 ,3 0 0 .
$1 ,1 0 0 .
16
119
831
20,155
7
1 $ 6 ,2 9 1 .
$14,316.
59
62
6,0 0 0
385
90,500
120
lU8
U60
»
$ 1 ,3 0 0 .
2
-
$557___ __ __
$1,300
$107.
b
1.500
8
bo
1
j
1
J
1 "
j
PAGE k
|>AGE 3
,
1 S t ills
D ist.
State: Seized
r 7
(cont)
Tnrt i
total!
ce
©
T•T
JU
M
VS4»:! .
Capacity
Gals, of Gals, of !
Autos ; Trucks
S p irits Mash
Seized ! Seized
Seized
Seized
200
1
«• *
7
6 ,ia o
53V
1
20
7
Value of [Value of [
property[Property
Seized !Destroyed..!.. AIrrest s
$12. j
2
$ 1 ,8 6 9 . | $1,**19. i
iu
87U
im \
1
20
-
$5
•
$50.
1
3
$Moi. I
3
125
-
-
$12* [
1
!
2
91,160
.
mm
mm
-
e •t
O
U>•=:
iV±ilXi. «:
i .
H
T *1».
Neb.
9c
35
I49
200
2
250
90
6^2
1
•
!
*25°.1
$5 5 1 .!
m
—
iowa ;
Q
j
total!
k
305
1H6
gU 2
3
•»
$ 801.1
17'^
^•
xL
ctU
3
176
98
1.550
h
- ,
$ 5^ 5.1
1
2
À1»’1 •:
(jiviu
Mo.
AWir*
AT
K.
total!
t
n
1U
i
3
220
62
2,050
13
1 ,2 1 0
^38
10 ,6 9 2
5
*
76
2 ,10 0
2U
1*636
67 U
16 .3 9 2
7
Average
Capacity......1........ -.... •]
$ 737.
|
^
51 .
1
35______1________
1
9
180
$70. |
Ik
59
* 567. j
$ 1 , 969.1 $ 1 , 83^ .
-
i
17
1
73
j
21
93
$ 335.1 * 335. L
$ 3 , 5 g 6 .il $ 2 , 806. |
10
*
62
|
it
'
1
68
Wyo.
|
T
«V
lT
!4X-»dii
W
8^M
r
|
------- " T 1 ;
____ ,___ !__
_LI__
|
Ti
[■
_____________ 1
_ :!__________ ;-! ---------------i--- ------------ :{-- " -:
«'«W
..... j..... ^ . . . —
4 - ....... j
PAGE 2
1
............... ............... .........
---------
iGals. of Gals of
jSpirits Mash
Stills
ÌStale...j ...Seized. ..Capacity..iSeiz.ed. Seized_
.
Dist.
..............H q . ______
_
k
(cont)
5
$50.
1
32,8llO
7
-
$ 2 ,3 3 6 .
!
$l,ll4 1 .
72
2*47
12.370
mm
$2.099*
i
$ 2 ,0 9 9 .
22
3.695
U39
16,050
5
1
$5.991
1
$14,771.
12
1
135
mm
$1,035-
!
$760.
19
J
312
$1,2>49.
$709.
17
[
11U
$>452.
$332.
18
$ 2 ,2 9 1 ,
$1,8141.
*5
j
150
1
$13.117.
$10,512.
133
j
169
I
3.809 i!
72*4
1,660 1;
11
Pia.
20
Ala,
8
2,500 !
17^
9 ,6 5 0
k
9
1.025
IU3
1,3140
5
.
—
--------------------
Ita.
5
220 !
28k
1 ,5 0 0
2
0m
Tex.
9
1.350 {
2SU
U,l430
k
mm
TOTAL
62
10,1450 1 1.571
l45,3l40
20
Mich.
12
Ohio
3
15
Ky.
Tenn. \
TOTAL f
7
-
10
a .
Q
Miss
6
**2
W
i s .
1 1 1 .
8
33
f k
1 3
—
-------------------------------------------------
_s
1
|!
**
D.C. 1
|TOTAL !
Value of 1Value of
! Average
Trucks Property 1Property
Autos
Arrests...
Destroyed
.Capacity.__ i
...Seized.. Seized Seized.. 1
1
.
•
7
-
J
151
262
2,5^0
««
mm
$ 1 ,1 2 6 .
$ 1 ,1 2 6 .
16
250 !
137
3 ,200
1
mm
$725*
$625.
k
7145
300
>4,1425
2
mm
$2, Ilio.
$1,U65.
23
950
132
9 .9 5 0
k
-
$2,300.
$1,100
16
S31
20,155
7
' $ 6 ,2 9 1 .
$14,316.
59
385
90,500
r
6,000
120
1
i
i
"*
\
[ 3 5
1
U6 0
2
1
~
1
j
j.
33
1
50
1
n 9
62
$ 1 ,3 0 0 .
$1,300
k
{ 1 ,5 0 0
$557.
$107
8
ko
i
lUs
j
kk
k22
2.367
91
j
1
'
:M
B1
TREASURY DEPARTMENT
Washington
IMI
OYj
1»
Press Service
No. 2 - 23
FOR IMMEDIATE RELEASE,
July 16, 1934
ACTIVIT IES OF INVESTIGATORS
ALCOHOL TAX UNIT , FOR WEEK ENDING JULY 7, 1934,
Mi
Hi
(Corrected statement based on complete weekly reports
of investigators)
1
Dist.
Ho*
States
Stills
Seised
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
1
1
.....
Maine
E. H.
Vt.
Mass.
Conn*
R. I.
3
1
400
175
106
70
1,200
$ 358
200
7
1
TOTAL
4
575
176
1,200
$ 558
8
2
N. Y.
6
1,928
665
5,200
1
$5, 791
3
3
Pa.
N. J.
Del.
3
2
522
1,850
269
200
185
7,944
43,500
3
2
$2,911
600
950
11
1
3
TOTAL
5
2,372
654
51,444
5
$4,461
15
Md.
Va.
W. Va.
N.Car,
S.Car.
D. C.
4
2
3
22
11
58
450
210
2,046
1,045
100
30
107
190
287
10
200
2,050
800
22,210
7,580
1
1
3
$
1
1
250
500
595
541
400
50
6
7
32
8
12
7
TOTAL
42
3,809
724
32,840
7
$2,336
72
Ga.
Pia.
Ala.
Miss.
La,
Tex.
11
20
8
9
5
9
1,660
.3,695
2,500
1,025
220
1,350
247
439
174
143
284
284
12,370
16,050
9,650
1,340
1,500
4,430
6
4
5
2
4
$2,099
5,991
1,035
1,249
452
2,291
22
12
19
17
18
45
TOTAL
62
10,450
1,571
45,340
21
$13,117
133
.
V
fi
H
I
8f
io'
•{
H
M)
K
4
<VJ
ft
Oi
•i
Hi
11i
*—-j
Hi
Hi
"á A
pri
ii
MÍ
—!
•
ft
5
- 2 -
Disfc•
No.
1
6
7
8
9
j
10
1 11
1
1 12
*
|
I
Stills
Seized
Capacity
Gals. of
Spirits
Seized
Gals, of
Mash
Seized
Aaitos &
Tracks
Seized
Value of
Property
Seized
Mich.
Ohio
Ky.
Tenn.
12
3
15
8
422
250
745
950
262
137
300
132
2,580
3,200
4,425
9,950
1
2
4
$‘1,126
725
2,140
2,300
16
4
23
16
TOTAL
38
2,367
831
20,155
7
$ 6,291
59
fis.
111.
Ind.
4
3
6,000
120
385
148
1
90,500
460
200
2
$ 1,300
557
12
4
8
2
TOTAL
7
6,120
534
91,160
2
$ 1,869
14
N. D.
b, D.
Minn.
Neb.
Iowa
1
20
7
1
2
35
250
49
90
200
642
2
1
$
250
551
5
3
TOTAL
4
146
842
3
$
801
9
Kan.
OkLa.
Mo.
Ark.
3
3
13
5
305
f."'-V'VY’'176
220
1,210
98
62
438
76
1,550
2,050
10,692
2,100
4
1
2
$
545
737
1,969
335
14
17
21
10
TOTAL
24
1,636
674
16,392
7
$ 3,586
62
Wyo.
Utah
Colo.
Ariz.
IT.Mex.
1
1
4
50
100
90
TOTAL
6
240
Cal. |
Nev.
States
1
50
200
320
$
126
570
$
1
13
550
TOTAL
1
13
55Q
Wash.
Ore.
Mont.
Idaho
7
436
2,051
1
35
127
13
11
8
471
151
2,301
TOTAL
76
40
10
Arrests
50
150
3
8
1
200
12
1
1
$ 1,395
40
9
1
5
2
$1,435
15
250
rmàsmr vwmmm
WmhMgtm
FOH m iM BM , w m x m FAFEHS,
Press Sarriaa
ïiaaday, Jttly
______________
tf# im i
dotta® Sacretary of thè ftoasary Coolldge annottaeod today,
Jfcly li» 1834, t&at tbs teadors iter $75,000,000, or thereabouta,
©f 182-day ®r»a«iry bilia, dated $ 0 % 18, 1954, sud natarlng
Janoary li, 1999, » M i l i «aro offered ©a- Ifcly 15, »are openod at
thè fidarsi rasarmi M
i
ea faly li, 1934«
$fe© total « m i t ampliai far m i $20?,015,000, of M
195,144,909 waa aoeapted*
ftwa
Ttw aoeapted bidè m g e i
99*990, Ofttiralant to a rato of ahcmt
a n r m , to
99*955,
0*05
t
I» pria#
far cent par
équivalent ta a rata of atout 0*09 par ss&t
par annua, oa a beni discount tasta*
Oaly part af thè ameno*
iti far at tfea lattar prisa »as aeoepted.
The aver«®© pria«
af t » « 8 « 7 itilo ta ta lasaad io 99*965 and thè average rate
I# about 0*09 par aaat par annue m
a bank discount basta»
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING PAPERS,
Tuesday, July 17, 1934.
Press Service
No,. 2-24
Acting Secretary of the Treasury Coolidge announced today,
July 16, 1934, that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury hills, dated July 18, 1934, and maturing
January 16, 1935, which were offered on July 13, were opened at
the Federal reserve hanks on July 16, 1934,
The total amount applied for was $207,015,000, of which
$75,144,000 was accepted.
The accepted bids ranged in price
from 99,970, equivalent to a rate of about 0.06 per cent per
annum, to 99.963, equivalent to a rate of about 0,07 per cent
per annum, on a bank discount basis.
Only part of the amount
bid for at the latter price was accepted.
The average price
of Treasury bills to be issued is 99.965 and the average rate
is about 0.07 per cent per annum on a bank discount basis.
- 2 -
British Columbia, is believed to have disposed of a large cargo
of alcohol either along the California Coast or in southern Oregon,
e
marked increase in the activities of rum runners along
the Atlajfit4 c^Coast, north of Cape Hatteras, and in the Gulf of
Mexico, -was dluiiluyyd^y||iie United States Coast Guard today.
Fourteen rum laden vessels are reported in the North Atlantic,
hovering off the coast; three vessels «ire in the Gulf region*
However, the number of vessels hovering in the southern area is
small, because the greater part of the traffic there is believed
to proceed direct to unloading points*
Only one vessel is known
to be hovering off the southern area of the Atlantic Coast.
Since repeal of the 18th Amendment the Coast Guard has
secured evidence to indicate that thirty-two ^ ¿ b atah.vessels have
cleared from the Bahamas for ports in the United States with car
goes of liquor but have not arrived and entered with their cargoes
at the American ports for which they cleared.
Prior to repeal
these vessels were not, so far as is known, engaged in smuggling.
Customs officials at New Orleans estimated that during the
month of May 65,000 gallons of alcohol
were landed in the United
States from Cuban ports by American luggers*
Cuban officials
claim that these luggers in turn smuggle American cigarettes into
Cuba on a large scale.
So far as the Coast Guard has been able to ascertain.there
is no foreign smuggling vessel off the Pacific Coast at the present
time.
One vessel, which cleared from Ensenada, Mexico, for Banfield» ^
TREASURY DEPARTMENT
Washington
For Immediate Release
July 17, 19S4.
Press Service
No* 2 - 2 5
A large seizure of alcohol and assorted liquors was reported to
the Office of the Commissioner of Customs by the Collector of Customs
at Portland, Maine*
According to telegraphic reports the British
oil screw GOLMACCAN is being held for penalties under Section 584 of
the Tariff Act*
The cargo included 41,046 gallons alcohol, 850 gallons
of rum, 50 gallons of islay malt, 21 cases of gin, 44 cases of whiskey
and 18 cases of champagne*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
July 17, 1934*
Press Service
Uo, 2 - 2 5
A large seizure of alcohol and assorted liquors was reported to the Office
of the Commissioner of Customs by the Collator
Maine.
of Customs at Portland,
According to telegraphic reports the British oil screw GOLMACCAN is being
held for penalties under Section 584 of the Tariff Act.
The cargo included
41,046 gallons/alcohol, 830 gallons of rum, 50 gallons of islay malt, 31 cases
of gin, 44 cases of whiskey and 18 cases of champagne.
The United States Coast Guard today announced a marked increase in the
activities of rum runners along the Atlantic Coast, north of Cape Hatteras, and
in the Gulf of Mexico.
Fourteen rum laden vessels are reported in the North
Atlantic, hovering off the coast; three vessels are in the Gulf region.
However,
the number of vessels hovering in the southern area is small, because the greater
part of the traffic there is believed to proceed direct to unloading points.
Only one vessel is known to be hovering off the southern area of the Atlantic
Coast*
Sinca ^©psal 0-^*
18th. Amendment the Coast Guard has secured evidence to
indicate that thirty-two vessels have cleared from the Bahamas for ports in the
United States with cargoes of liquor hut have not arrived and entered with their
cargoes at the American ports for which they cleared.
Prior to repeal these
vessels were not, so far as is known, engaged in smuggling#
Customs officials at New Orleans estimated that during the month of May
65,000 gallons of alcohol were landed in the United States from Cuban ports by
American luggers#
Cuban officials claim that these luggers in turn smuggle
American cigarettes into Cuba on a large scale*
So iar as the Coast Guard has been able to ascertain, there is no foreign
smuggling vessel off the Pacific Coast at the present time# . One vessel, which
ed from Ensenada, Mexico,, for Banfield, British Columbia, is believed to
ern Oregon.
a ^arSe cargo of alcohol either along the California Coast or in
To date it has not arrived at Banfield*
Wägt
.
LIQUOR SEIZURES MADE BY CUSTOMS OFFICERS
DURING JUNE, 1934.
Liquor
Seiz.
CANADIAN BORDER:
Maine & New HampsMre
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
Gallons
Liquor Beer Alcohol
No
.
Boats
Value
»
5
2
5
9
3
1
2
8
mm
mm
•
-
—
mm
3
2
1
mm
mm
mm
-
-
—
«»
4M»
mi
18
4
1
5
2
1
1
1
-
mm
mm
mm
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
Id
65
£4
76
102
60
112
249
1
2
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
Georgia
143
5
3
-
108
5
mm
17
229
..
12
-
9
^
690
2
..
—
mm
mm
mm
mm
-
-
-
—
mm
n
mi
mm
-
2
mm
mm
mm
mm
mm
6
-
mm
4
mm
mm
-
#225
_
mm
mm
69
353
—
_
_
2
—
mmf
-
$§
mm
mm
mm
mm 11,826
-
mm
-
-
2
#135
2
8
#158
#375
M
_
mm
mm
mm
mm
mm
-
mm
_
mm
m
mm
mm
_
mm
-
-
-
mm
mm
2
#350
O
O
to
CO
m
CVi
GULF COAST:
Florida
Mobile
New Orleans
*• Sabine
^►Galveston
Autos
No • Value
%
PACIFIC COAST:
San Francisco
Los Angeles
13
«
8
OTHER DISTRICTS:
fc."*tnm<3l
6
20
424
935
TOTAL...........
-
-
mm
-
mm
-
' 590**\ 1
if 13,528
-
-
Isso*1
j 3 #8,750
RAec
16 #1,243
PREPARED BY
DIVISION
OH
B
STATISTICS
U| O f
AND
RESEARCH
CUSTOMS
THE:’ ilJR'AVC'EPWvTMENT
TREASURY DEPARTMENT
Washington
For Immediate Release
July 18, 1954.
Press Service
No. 2 - 2 6
During the month of June 424 liquor seizures were reported by
the Bureau of Customs of the Treasury Department.
These seizures
were principally of alcohol rather than of beer or liquor as was
the case prior to repeal.
Immigration officers along the Mexican border made 15
seizures.
of alcohol.
In all.77 gallons of liquor were confiscated and 5 gallons
Two automobiles also were seized.
The following table shows the place and amount of seizures
by the Customs officers
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
July 18, 1934,
Press Service
Eo. 2 - 2 6
During the month of June* 424 liquor seizures were reported
"by the Bureau of Customs of the Treasury Department,
These seizures
were principally of alcohol rather than of beer or liquor as was
the case prior to repeal.
Immigration officers along the Mexican border made 13
seizures.
of alcohol*
In all, 77 gallons of liquor were confiscated and 5 gallons
Two automobiles also were seized.
The attached table shows the place and amount of seizures
by the Customs officers,
jglj-
•
~ 2 ~
LIQUOR SEIZURES MADE BY CUSTOMS OEEICERS
DURING JUNE, 1934.
Lliquor
Seiz.
CANADIAN BORDER:
Maine & New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
Gallons
Liquor Beer Alcohol
2
5
2
5
9
3
1
2
8
—
~
«M»
-
3
18
4
1
2
5
2
1
1
1
1
—
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
16
65
24
76
102
60
112
249
1
2
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
Georgia
143
5
-»
3
—
108
5
«
6
—
2
**
17
—
9
229
12
«
«
13
8
6
424
GULP COAST:
Florida
Mobile
New Orleané
* Sabine
* Galveston
PACIFIC COAST:
San Francisco
Los Angeles
OTHER DISTRICTS:
Puerto'Rico
TOTAL...........
NOTE:
-
* Report not received,
690
Boats
No. Value
»
•■*
2
m
**
-
4M*
-
-
-
«*
«
—
Autos
No# Value
$225
«m *
—
—
~
~
-
-
-
—
*-
-
■**
-
-
-
«
«
-
-
-
«
—
—
«■#
-
-
«
-
-
-
—
—
-
-
2
8
«Ml
«
•*
«
«
—
**
11,826
2
$8,500
2
—
«
—
—
«•»
- •
—
•M
«M»
M l
«b#
20
2
590
1
$250
M l
M
935
16
13,528
3
$8,750
—
4
69
353
~
«M*
— ,
o
$135
-
4M»
$158
$375
«
«
~
*•
$350
•“*
16 $1,243
Bfimp
Scisson, B. B.
Montgomery, J. 0.
Harding, J. V,
Williams, W. H. >'
Howarth, 0. E.
Bomar, Is. E.
Ballard, E. P.
Olson, A. E.
Reid, K. A.
Toegeli, 0 . 1 .
Wittenberg, W. E.
Moore, B. F. I. Jr
Biscoe, Ark.
Lebanon, Junction, Ky.
Franklin, Tennessee
Marlboro, Mass.
Cleveland, Ohio
El Paso, Tinas.
Decatur, 111.
Worcester, Mass.
Boston, Mass.
Mansfield, Mass.
Philadelphia, pa.
Pensacola, Fla.
HOHES OP THOSE P A S S I M MENTAL
COAST GUARD
Name
Thompson, W. K. Jr.
Wilson, E. W.
Lei sing, C. 1, Jr
Hyslop, J. A.
Harrison, C. W. Jr
Bajrlis, J. $. Jr.
Sp&rfce, E. P.
Cato, C. P.
Engel, A. B.
Citric, J. C. Jr.
Heggem, 0. J.
Murati, G. T.
Hobson, F. H.
Coffin, J. G.
walker, C. W.
Welthman, C. J,
Hudgens, J. E.
McLean, Kenneth 0.
Engel, B. F.
Schwarts, B. A.
Broman, C. A.
Penn, R. M.
Tattle, E. A.
Keith, J. B. Jr
Holt, W. N,
Weed, Norman B.
Wuerker, A. W.
Ing. E« 3.
Barclay, C. C.
Day, J. P, Jr.
West, J. B.
Lamb, E. H.
Crane, E. S.
Allen, E. C. Jr
Pfeiffer, Arthur
Williame, J. W.
Totman, T. W.
Boehm, H. J.
McGeorge, Minor
Morell, D. M.
Ison, E. S.
Clark, B. P.
Burton, W. H.
Salisbury, E. E.
Waldron, E.
Kniskern, H, P. Jr
Scisson, B. 3.
HYSICAL EXAMINATION POE
193^
fonfft, immt
Washington, D. C. 7 ^-3-7^
Granite City, Illinois
Lordin, Ohio
Silver Spring, Maryland'
Farmville, Va.
Glenburnie, Maryland
Ehmmonton, N. J.
Kershaw, South Carolina
Grand Rapids, Michigan
Birmingham, Alabama
Seattle, Washington
Buffalo, New York
Washington, D. Q. / O i ' ^
Gloucester, Mass«
Charlotte, N. C.
Erie, penna.
Grand Bay, Alabama,
fault Ste. Marie, Michigan
Grand Sapide, Michigan
Washington, B. Q. S a - K t
Worcester, Mass,
---- »— *Atlanta, Georgia
Eugene, Oregon
Baltimore, Maryland
Sault Ste. Marie, Michigan
Washington, D. / & -iftO-Ki
Detroit, Michigan— — — ~
Elisabeth, New Jersey
Philadelphia, Pennsylvania
Birmingham, Alabama
Washington, D. C.
Fayetteville, Tennessee
Toms Elver, New Jersey
Portsmouth, Va.
Demarest, New Jersey
Parmersvllle, Tessas
Brockton, Mass.
Santa Sosa, Calif.
Cynwyd, penna.
G randy, Minnesota
Atlanta, Georgia
Dallas, Texas
Niantic, Conn.
¿.Palls Church, Va.
Bethlehem, Fa.
Miami, Pia.
Blscoe, Ark.
I B
TREASURY DEPARTMENT
Washington
Bor release, Morning newspapers
July 20, 1954.
Press Service
No. 2 -
The names of 58 successful applicants for admission to the
Coast Guard Academy at New London, Connecticut, were made imblic
today by the Bureau of the Coast Guard of the Treasury Department.
These young men were approved by the Commandant of the Coast Guard
and the appointments to the Academy were made by the Acting Secre
tary of the Treasury.
Physical and mental examinations were held
in various cities throughout the United States June 2 0 and 21.
There were 806 applicants for the 1934 cadet examination and of these
605 were designated to report.
One hundred and one failed to re
port, 23 failed to complete the examination, making a total of 481
who did complete the examination.
Three hundred and ninety-five
of the applicants failed in one or more subjects, 86 passed all written
subjects and of these 16 failed the physical examination.
Twelve
who passed the mental examination, but who could not be examined com
pletely physically, are being examined at the present time.
12
If the
pass the physical examination it will bring the number of successful
candidates up to 70.
These young men, who will report at New London August 1, will
up the largest entering class ever received by the Academy.
Recently the course was changed from three to four years.
will report to the Academy are:
Those who
TREASURY DEPARTMENT
Washington
FOR RELEASE, MDRHIUG NEWSPAPERS,
July 20, 1934,________________
7-19-34.
Press Service
Ho* 2 " 27
The names of 58 sniccessful applicants for admission to the
Coast Guard Academy at New London, Connecticut, were made public
today by the Bureau of the Coast Guard of the Treasury Department*
These young men were approved by the Commandant of the Coast Guard
and the appointments to the Academy wero made by the Acting Secret
tary of the Treasury.
Physical and mental examinations were held
in various cities throughout the United States June 20 and 21.
There were 806 applicants for the 1934 cadet examination and of these
605 were designated to report. \^0ne hundred and one failed to re*port, 23 failed to complete the examination, making a total of 481
who did complete the examination.
Three hundred and ninety-five
of the applicants failed in one or more subjects, 86 passed all written
subjects and of these 16 failed the physical examination.
Twelve
who passed the mental examination, but who could not be examined com
pletely physically, are being examined at the present time.
If the
12 pass the physical examination it will bring the number of successful
candidates up to 70.
These young men, who will report at Hew London August l, .will
make up the largest entering class ever received by the Academy.
Recently the course was changed from three to four years.
will report to the Academy are:
Those who
mm
Thompson, W, K., Jr*
Wilson, E. W.
Leising, C, E#, Jr,
Hyslop, J, A.
Harrison, C* W,, Jr,
Baylis, J, S«, Jr,
Sparks, R. P.
Cat o, C, P ,
Engel, A, B,
Clark, J, C,, Jr,
Heggem, 0, J,
Marati, G, T,
Hobson, E, H.
Coffin, J, G.
Walker, C. W.
Weithman, C. J.
Hudgens, J . E,
McLean, Kenneth D,
Engel, B. E.
Schawrtz, B, A,
Broman, C. A,
Eenn, R, M,
Tuttle, R. A,
Keith, J, B., Jr,
Holt, W. H.
Weed, Horman B,
Wuerker, A. W,
Ing, E. B,
Barclay, C. C.
Day, J, E,, Jr,
West, J, B,
Lamb, R, H,
Crane, R, S.
Allen, E. C,, Jr,
Pfeiffer, Arthur
Williams, J. W,
Totman, T. W.
Boehm, H. J,
Me George, Minor
Morell, D, M,
Ison, R, S,
Clark, B, P,
Buxton, W. H,
Salisbury, E. R,
Waldron, R,
Kniskern, H# P,, Jr,
Scisson, B. B,
Montgomery, J, 0,
Harding, J. V,
Williams, W, H.
Howarth, G. E,
Bomar, E, E,
Bullard, R, P,
Olson, A, R,
Reid, K, A,
Voegeli, G, L,
Wittenberg, W. E,
Moore, B. E, I*, Jr,
2
HOME
Washington, D, C.
Granite City, Illinois
Lordin, Ohio
Silver Spring, Maryland
Earmville, Va.
Glenbumie, Maryland
Bammonton, H, J,
Kershaw, South Carolina
Grand Rapids, Michigan
Birmingham, Alabama
Seattle, Washington
Buffalo, Hew York
Washington, D. C,
Gloucester, Mass,
Charlotte, H, C,
Erie, Penna.
Grand Bay, Alabama
Sault St, Marie, Michigan
Grand Rapids, Michigan.
Washington, D. C,
Worcester, Mass,
Atlanta, Georgia
Eugene, Oregon
Baltimore, Maryland
Sault St, Marie, Michigan
Washington, D, C,
Detroit, Michigan
Elizabeth, Hew Jersey
Philadelphia, Pennsylvania
Birmingham, Alabama
Washington, D. C,
Fayetteville, Tennessee
Toms River, Hew Jersey
Portsmouth, Va,
Demarest, Hew Jersey
Earmersville, Texas
Brockton, Mass,
Santa Rosa, Calif,
Cynwyd, Penna,
Grandy, Minnesota
Atlanta, Georgia
Dallas, Texas
Hiantic, Conn,
E. Falls Church, Va,
Bethlehem, Pa,
Miami, Fla.
Biscoe, Ark,
Lebanon Junction, Ky.
Franklin, Tennessee
Marlboro, Mass.
Cleveland, Ohio
El Paso, Texas
Decatur, 111,
Worcester, Mass,
Boston, Mass,
Mansfield, Mass,
Philadelphia, Pa,
Pensacola, Fla,
2*
They contended that alcohol denatured with wood alcohol would he more
.
suitable for general nanufacturing/jmrposes« as well as for use as an anti
freeze in automobile radiators*
They cited the fact that wood alcohol
was used as a denatur&nt in completely denatured alcohol from the time the
tax free denatured alcohol Act became effective
Ja p m r y l fl
live J
1*J1A}
1* 1931«
O n the latter date« wood alcohol as a denaturani In ifftnmiln rrfcinifl
® ^ er criticism had been directed at the Treasury Department,
g
following
t W U
w j u
-r x %
M X
numerous deaths if "«pwraji n i)>attributed to^ailnkingl alcohol whidi
^
U>^
contained
A
A
wood alcohol denaturant*
f\
Spokesmen for the eo&nittee further asserted that since
liquor now is generally a v a i l a b l y there would
is
be less llklihood of persons drinking the denatured product«
They WieiyfOTI
theu
They cited the fact that
wood alcohol has been used as a dénaturant in foreign countries for fifty
years« and that in those countries it serves a good commercial purpose«
The committee« at the close of the hearing«
WEt
asked for the
privilege of presenting further briefs« and Mr« Graves ruled that these
could be filed not later.than Ju ly 26*
v~
T r u u m j Department ia laspeAtidr-te»
U s
before tho end of the ■m on thr
A
V ^
-o*
,V
^
decision
&
Present at the Hearing on Denatured Alcohol, conducted at the Bureau
of Internal Revenue at 10:00 a.m., Thursday, July 19, 1934.
Mr. Harold N. Graves, Acting Deputy Commissioner, representing the
Commissioner of Internal Revenue, presiding.
Dr. W. V. Linder, Head Technical Division, Alcohol Tax Unit.
* ^A>c/W*Mr. James C. “White, Tennessee Eastman Corporation, Kingsport, Tenn.
—- Mr. M. K. Haertel, Secretary, Code Authority, Hardwood Distillation
Industry, Washington, D. C.
••Mr. T. C. Alvin, Forest Products Chemical Company, Memphis, Tenn.
— Mr. A. K. Hamilton, Pennsylvania Alcohol Corporation, Philadelphia, Pa.
''Mr. R. W. McClellan, DuPont Company, Wilmington, Del.
-'Mr. C. L. Burdick, DuPont Company, Wilmington, Del.
Mr. F. A. McDermott, DuPont Company, Wilmington, Del.
— Mr. W. C. Leckinger, B. R. & P. Warehouse, Rochester, N. Y.
ö
— Mr. A. B. Crowell, Union Paste Company, Medford, Mass.
— Mr. L. H. Margow, Marmac Oil andSupply Company, Hackensack, N. J.
Mr. H. D. Ralph, Oil, Paint, and Drug Reporter.
Mr. F. Hamilton Suter, Shadbolt & Boyd Company, Milwaukee, Wis.
Mr. H. J. Shrader, V. P., H. J. Shrader & Co., Kokomo, Ind.
Mr. Thomas B. Peck, Keystone Analine & Chemical Company, Chicago, 111.
Mr. R. H. Stier, Philadelphia Rapid Transit Company, Philadelphia.
e
Mr. H. R. Katlan, 0. Redmond, Inc., Wholesale Oils & Supplies,Sctj^ectady,
Mr. Thomas E. 0 1Connor, Chief Chemist, Industrial Service, Martin Varnish
Chicago, 111.
Mr. Glenn Haskell, U. S. Industrual Alcohol, New York City.
Mr. Alfred Van Buren, American Commercial Corporation, Chicago, 111.
Mr. S. Edward Rose, Barker, Rose, & Kimball, Inc., Elmira, N. Y.
Captain James P. McGovern, Washington, D. C., attorney representing the
petitioners•
t
p ft:
u)
j® A * ~
H_-o. X .-
A committee» representing producers, distributers and users
<$
of completely denatured alcohol* appeared today at a hearing held before
Harold N, Graves* Acting DeputyJD ommi ssioner o^Jn^ernal Hererrue, and
presented arguments in support a petition they^oreviously file<y^for the
restoration of wood alcohol in the formula for completely denatured alcohol,
used for a n t i f r e e z e and manufacturing purposes*
Following were members of the committee appearing!
Tennessee Eastman Corporation, Kingsport,Tenn;
James C,White,
M*H.Haer tel, Secretary, Code
V —'
Authority^Hardwood Distillation Industry, Washington, D.C.;
KForest Pro duct sNC£emi cal Company, Memphis, Tenn* ,;
both of DuPont Company, Wilmington,Del*, 5
Rochester N.Y, ,;
^
A, F, Hamilton, F e n n s y i
R.
vania Alcohol Corporation, Philadelphia,Pa*,;
T,C. Alvin,
^
^
H*W.McClellan and C,L,kurdick,
(1
\
S
^
y
,
W.C.Legkinger, of B,R,P, Warehouse, U
A. B. Crowell, Union Faste Co. ,Medford,Mass* ,5 L,H*Mar£ew,
Marmac Oil and Supply Co.,Hackensack,H»J,,; Suter Hamilton,Pennsylvania
Alcohol and Chemical Co,, Philadelphia,Pa.,* H,J,Shrader, of the H,J,Shrader
T
Company of Indiana; Thomas B,Keck, Keystone Analine & Chemical Co, »Chicago;
R.H. Stier, Philadelphia Rapid Transit Co* »Philadelphia; H«R«Katlan, Redmond,
Inc,, Schnectady,H*7«,;
Thomas E*0*Connor, Martin Varnich Co,, Chicago;
Glenn Haskell* TJ*S.Industrial Alcohol Co*, Hew York;
Captain.James P,
McGovern, attorney* representing the petitioners; and Alfred Van Buren,
ley representing American
Commercial Alcohol company.
Members of the comnittee argued that the present completely denatured
alcohol formula is unsatisfactory because of objectionable odors of denaturaite
used* and that because of thi
1 th ewhaft' % w « g adabe& sales
of completely denatured alcohol for commercial purposes»"-
A
ilOJtf
ds
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
July 20, 1934.
Press Service
Wo. 2 - 2 8
A committee, representing producers, distributers and users of com
pletely denatured alcohol, appeared today at a hearing held before Harold N.
Graves, Acting Deputy Commissioner of Internal Revenue, and presented argu
ments in support of a petition they had previously filed for the restoration
of wood alcohol in the formula for completely denatured alcohol, used for anti
freeze and manufacturing purposes.
Following were members of the committee appearing:
I
James C. White, Tennessee Eastman Corporation, Kingsport, Tenn.
M*K.Haertel, Secretary, Code Authority,Hardwood Distillation
Industry, Washington, D.C
T. C. Alvin, Forest Products Chemical Company, Memphis, Tenn.
A. K. Hamilton, Pennsylvania Alcohol Corporation, Philadelphia, Pa.
R. W. McClellan, DuPont Company, Wilmington, Del.
C. L. Burdick* DuPont Company, Wilmington, Del.F. A. McDermott, DuPont Company, Wilmington, Del*
W. C. Leckinger, B. R. & P. Warehouse, Rochester, W. Y.
A, B. Crowell, Union Paste Company, Medford, Mass.
L. H. Margow, Marmac Oil and Supply Company, Hackensack, W. J.
H* D* Ralph, Oil, Paint, and Drug Reporter.
F. Hamilton Suter, Shadbolt & Boyd Company, Milwaukee, Wis.
H. J. Shrader, V. P,, H. J. Shrader & Co., Kokomo, Ind.
Thomas B. Peck, Keystone Analine & Chemical Company, Chicago, 111.
R. H. Stier, Philadelphia Rapid Transit Company, Philadelphia.
H. R. Katlan, 0. Redmond, Inc., Wholesale Oils and Supplies, Schenectady,N«i*
Thomas E. 0*Connor, Chief Chemist, Industrial Service, Martin Varnish
Company, Chicago, 111.
Glenn Haskell, U. S. Industrial Alcohol, Hew York City.
Alfred Van Buren, American Commercial Corporation, Chicago, 111.
S. Edward Rose, Barker, Rose, and Kimball, Inc., Elmira, W* Y.
Captain James P. Me Govern, Washington, D.C., attorney representing the
petitioners.Members of the committee argued that the present completely denatured
alcohol formula is unsatisfactory because of objectionable odors of dénaturants
A
j
used, and they asserted that,because of this»sales of completely denatured
alcohol for commercial purposes had been reduced.
They contended that alcohol
denatured with wood alcohol would be more suitable for general manufacturing
|
S
\\
purposes, as well as for use as an anti-freeze in automobile radiators*
They
cited the fact that wood alcohol was used as a dénaturant in completely de
natured alcohol from the time the tax free denatured alcohol Act became ef
fective January 1, 1907, until January 1, 1931.
On the latter date, wood
alcohol was withdrawn as a dénaturant after criticism had been directed at the
j
Treasury Department, following a number of deaths which were attributed to tho
drinking of alcohol which contained wood alcohol as a dénaturant.
Spokesmen for the committee further asserted that since legal liquor
now is generally available there would be less likelihood of persons drinking
the denatured product.
Th$y cited the fact that wood alcohol has been used as
a dénaturant in foreign countries for fifty years, and that in those countries
it serves a good commercial purpose.
I
The committee, at the close of the hearing, asked for the privilege of
presenting further briefs, and Mr* Graves ruled that these could be filed not
¥
later than July 26«
It is expected that a decision will be announced before August 1.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORN UTS PAPERS,
Monday, July 23, 1934*
Corporation, is today offering to the public $100,000,000, or thereabouts, 3 per
cent bonds of 1944-49 of the federal Farm Mortgage Corporation, and is inviting
tenders therefor at not less than par and accrued interest through the Federal
reserve banks.
The bonds will be sold to the highest bidders.
Tenders will be
received at the Federal reserve banks or the branches thereof up to 2-clock
p. m., Eastern standard time, on Wednesday, July 25, 1934.
Tenders will not be
received et the Treasury Department, Washington.
The bonds for which tenders are invited will f o m part of a series of 3 per
cent bonds of 1944-49 of the Federal Farm Mortgage Corporation, dated May 15,
1934, maturing May 15, 1949, and redeemable at the option of the Corporation on
and after May-15, 1944.
They will be fully and unconditionally guaranteed both
as to interest and principal by the United States, and will be exempt both as to
principal and interest from Federal, State, municipal and local taxation (ex•4.
cr-i-P+
cept surtaxes, estate, inheritance and gift taxes*.
Bearer bonds with interest
„
. j.
a
- n - i n H a n d interest will be
ccoupons attached and bonds registered as to principal ana in
issued in denominations of $100, $500, $1,000, $5,000 and $10,000.
Tenders should be made or. the printed forms and forwarded in the special
envelopes which will be supplied by the Federal reserve banks.
Each tender should state the face amount of bonds applied for and the
price offered, which
must be expressed on the basis of 100 with not more, then
. „
VAi ..is»«
three decimal places, e. g.> 101.125.
Fach tender must be in multiples of *100,
Tenders at less than par will not be considered.
Tenders received at a Federal
reserve bank or branch after 2 o-clock p. m., Eastern standard time, Wednesday,
July 25,1934, will be disregarded.
Tenders will be, accepted without deposit from incorporated banks and trust
companies and from responsible and recognized dealers in investment securities.
Tenders from others must bo accompanied in every ease by a deposit of 5 per cent
of the face amount of bonds bid for, except where the t nder is accompanied by
an express guaranty of payment by an incorporated bank or trust company.
If
the tender is accepted, any deposit will be applied toward payment for the
bonds, and if the tender is rejected any deposit will be returned to the bidder.
Immediately after the closing hour for the receipt of tenders on July 25,
1934, all tenders received at the Federal reserve banks or branches thereof up
to the closing hour will be ooened and public announcement of the acceptable
prices will follow as soon as possible thereafter.
Those submitting t nder
will bo advised of the acceptance or rejection thereof.
In considering the ac
ceptance of tenders, the h i p e s t prices offered will be accepted in full down
to the.amount required, and if the same price appears in two or more tenders and
it is necessary to accept only part of the amount offered at such price, the
amount accepted at such price will bo prorated in accordance with the respcctiv
amounts bid for.
However, the Secretary of the Treasury expressly reserves the,
right to reject any or all tenders or parts of tenders and to award less than
the amount bid for, and any action ho may take m
any such r^sncct
shall bo final.
Payment for any bonds allotted on accepted tenders must be made or com-
^
plotcd in.cash or other immediately available funds on or before ¿»gust 1,
1934, and must include the face .mount and the premium, if any, which the bidder
has agreed to pay, together with accrued interest on the face amount from May 15
to August 1, 1934,
The text of the official circular follows:
FEDERAL FARM MORTGAGE CORPORATION
3$ BONDS OF 1944-49
Dated May 15, 1934
^¡| 15 > 1949
Redeemable at the option of the Corporation on any interest-payment date
on and after May 15, 1944, at par and accrued interest
Interest payable May 15 and November 15
FULLY ¿¿HD UNCONDITIONALLY OJAR^TEED BOTH AS TO PRINCIPAL AND INTEREST
BY THE UNITED STATES OF ¿\MERICA AS EVIDENCED BY THE STATE?TNT OF THE SECRE
TARY OF THE TREASURY ON EACH BOND.
Exempt both as to principal and interest from all Federal, State, municipal,
and local taxation (except surtaxes, estate, inheritance, and gift taxes).
1934
Department Circular No. 515
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, July 23, 1934.
(Public Debt Service)
The Secretary of the Treasury, on behalf of the Federal Farm Mortgage
Corporation, offers to the public $100,000,000, or thereabouts, 3 per cent
bonds of 1944-49 of the Federal Farm Mortgage Corporation, and invites tenders
therofor, through the Federal reserve banks, at not less than par and accrued
interest from May 15 to August 1, 1934.
Description of Bonds
The bonds of this issue are dated May 15, 1934, and bear interest at the
rate of 3 per cent per annum, payable semiannually, on Kay 15 and November 15
of each year, until the principal amount becomes payable.
These bonds rill
mature May 15, 1949. All or any part of this issue of bonds may be redeemed
2
at par and accrued interest on May 15, 1944, or on any subsequent interest«
payment date.
In the event of any such redemption, notice thereof will be
given in such manner as the Board of Directors of the Corporation may prescribe.
Interest ceases to accrue on any bond after the redemption date of which notice
is so given, whether the bond is then surrendered or not.
Bearer bonds with interest coupons attached and bonds registered as to
principal and interest aro issued in denominations of $100, $500, $1,000, $5,000,
and $10,000.
Exchanges of denominations and of registered for coupon or coupon
for registered bonds may be made through any Federal reserve b nk or
the
Division of Loans and Currency of the United States Treasury, Washington, D. C.,
and through any other agency designated for the purnose by the Federal Farm
Mortgage Corporation.
These bonds are issued under the authority of the Federal Farm Mortgage
Corporation Act, approved January 51, 1934, as amended, which provides that these
bonds and the income derived therefrom shall be exempt from Federal, State,
municipal, and local taxation (except surtaxes, estate, inheritance, and gift
taxes)•
Section 16 (a) of that Act contains the following provisions: "The first
sentence of the eighth paragraph of.section 13 of the Federal Reserve Act, as
amended, is further amended by inserting before the semicolon after the words
»Section 13 (a) of this Act» a comma and the following: »or by the deposit or
pledge of Federal Form Mortgage Corporation bonds issued under the Federal Farm
Mortgage Corporation Act».”
Thus, the bonds are legally ^ci$table
15-day borrowings from the Federal reserve banks.
secure
However, they do not h-Ve th
circulation privilege.
Section 4 of the Federal Farm Mortgage Corporation Act, as amended, also pro
vides as f o l l c wsr^uch bonds shall be fully and unconditionally guaranteed both
88 to interest and principal by the United States and such s c a n t y shall be
expressed on the face thereof, end such bonds shall bo lawful investments, and
nay be accepted as security, for all fiduciary, trust, and public funds the
investment or deposit of which shall be under tho authority or control of the
United States or any officer or officers thereof.
In the event that the Corpora
tion shall ho unable to pay upon demand, when due, the principal of, or interest
on, such bonds, the Secretary of the Treasury shall pay to the holder the amount
thereof which is hereby authorized to bo appropriated, out of any moneys in the
Treasury not otherwise appropriated, and thereupon to the extent of the amount
so paid the Secretory of the Treasury shall succeed to rill the rights of the
%
holders of such bonds.***"
Tenders and Allotments
Tenders will be received at the Federal reserve banks and the branches
thereof up to 8 o’clock p. m., Eastern standard time,'Wednesday, July 25, 1934,
and unless received by that time will he disregarded.
ceived at the Treasury Department, Washington.
Tenners .'ill not be ra
Each tender must be in multiples
of $100, must state the face amount of bones applied for, and the price offered.
ho rvsrr-rf^sed or the bosis of 100 with
The price offered (not less than par) must bo axpressea on
not more than three decimal places, e. g., 101.125.
The price offered must be
stated exclusive of accrued interest from May 15 to Aufpist 1, 1934.
Tenders at
less than par will not be considered.
Tenders will be accepted without deposit from incorporated banks ,md trust
• a
a -in inwestment securities*
companies and from responsible and recognized dealers m m / e s n
.
Ten(Je:rs from others must be accompanied in every case by a deposit of 5 per
cent of the face amount of hones bid for, except where the tender is accompanied
by an express guaranty of payment by an incorporated bank or trust company.
If
the tender is accepted, any deposit will bo applied toward payment for tho bonds
- 4 )
the balance to be paid as hereinafter provided.
If tho tender is rejected, any
deposit Trill be returned to the bidder.
Tenders must be enclosed in envelopes, securely sealed, addressed to the
Federal reserve bank, or branch, of the district, anc plainly marked «Tender for
3 per cent bonds of Federal F a m Mortgage Corporation«.
The Federal reserve banks
will supply printed forms and special envelopes for submitting tenders.
Immediately after the closing hour for the receipt of tenders on July 25,
1934, all tenders received at the Federal reserve banks or branches thereof up to
the closing hour wilt be opened.
The Secretary of the Treasury will determine the
acceptable prices offered and rill make public announcement thereof as soon as
possible after the opening of tenders.
Those submitting tenders rill be advised
by the Federal reserve, banks of tho acceptance or rejection thereof, and payment
on accepted tenders must be made as hereinafter provide!.♦
In considering the
acceptance of tenders, the highest prices offered rill be accepted in full down
to the amount required, and if the some price appears in two or more tenners an
it is necessary to accept only a pert of the amount offered at such price, the
amount accepted at such price will be prorated in accordance with the respective
amounts bid for.
However, the Secretary of the Treasury expressly reserves the
right to reject any or all tenders or parts of tenders, and to award less th^n
the amount bid for, and any action he may take in any such respect or respects
shall be final.
P; yi.tcnt
Payment for any bonds allotted on accepted tenders must bo made or completes
on or before 'August 1, 1934, in cash or other immediately available funds, and
must include the face amount and. the premium, if any, which tho bidder has agreed
to pay, together with accrued interest on the face amount from Fay 15 to August 1,
1934.*
In every case where payment is not so completed, the 5 per cent payment
Accrued interest from May 15 to August 1, 1934, on $1,000 face amount is $6.358695
- 5 m t h application shall, upon declaration hy the Secretary of the Treasury in his
discretion, be forfeited to the Uriitod States♦General Provisions
Federal reserve banks, as fiscal agents of tlie United States, are authorized
and requested to receive tenders, to make allotments as indicated by the Secre
tary of the Treasury to the Federal reserve- banks of the respective districts, to
issue allotment notices, to receive payment for bends allotted, to make delivery
cf bonds on full-paid allotments, and to perform such other acts as may be
necessary to carry out the provisions of this circular.
Pending delivery of the
definitive bonds, Federal reserve banks may issue interim receipts.
The Secretary of the Treasury may at any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the receipt of
tenders and the Mile of bonds under this circular, which will be promptly
communicated to the Federal reserve banks.
T. J. COOLIDG-E
Acting Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS;
July 23, 1934.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 2 1 , 1933)
Week ending July 20, 1934.
Denver ........................................ 4,118.00 fine ounces
111,099.24 **
"
San F r a n c i s c o ........... ............. .
Total to July 20
.... .............
115.217.24
**
»
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ending July 20, 1934*
______ Imports
Philadelphia •»...•• $
4,059.09
San Francisco ••••••
10,869.98
Denver •••••••••••••
41,373.00
New York •••.•••••••
8,872,300.00
Seattle ....... •••••
New O r l e a n s ..... .
21.227.44
Total .......... $ 8.949.829.51
Secondary
$
303,316.85
100,380.75
68,237.00
2,065,000.00
36,708.36
45.017.51
$ 2.616.660.47
$
New
Domestic
57.54
659,051.55
592,519.00
217,414.54
_______ 799.79
$ 1.469.842.02
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER*S OFFICE:
(Under Secretary* s Order of December 28, 1953)
Received by Federal Reserve Banks:
Week ended July 18 ..........
Received p r e v i o u s l y .........
Total to July 1 8 ........
______ Gold Coin________
Gold Certificates
$ 41,513.89
$
754.220.00
28.272.401.56
62.602.260.00
$28,313,915.25
#65,356,480.00
Received by Treasurer*s Office:
Week ended July 18 ..........
Received previously .........
Total to July 1 8 ......
$
$
«•••••••
249.994.00
249.994.00
$
16,100.00
1 4652.400.0 0
$ 1.648.500.00
Note: Gold bars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported.
PURCHASES CF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Week ended July 25
$ 400,000.00
TREASURY DEPARTMENT
Washington
July 23, 1934.,
MEMORANDUM EOR THE PRESS:
RECEIPTS OF STIVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ending July 20, 1934.,
Denver
San Erancisco ......
4,118.00 fine ounces
111,099¿24 "
u
115,217.24
Total to July 20
"
H
RECEIPTS OP GOLD BY THE IE NTS AND ASSAY OEEICES:
Week ending July 20, 1934:
Imports,
Philadelphia ••••••• $
4,0 59 •09
San Erancisco ......
10,869.98
Denver
41,373.00
New York
8,872,300.00
S eat tie ••••••• •*#••
••«•*
New Orleans ........
^1>227.44
Total
••••••• $ 8,949,829.51
Secondary
303,316.85
100,380.75
68,237.00
2,065,000.00
36,708.36
43,017.51
New
____ Domestic
$
57.54
659,051.35
592,519.00
......,.•
217,414.34
_______ 799.79
$ 2,616,660.47
$ 1,469,842.02
$
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Barks:.
Week ended July 18 ••••••.«•«
Received previously •••»»•••.
Total to July 18
Gold Coin-------„
Gold Certificates
$
754,220.00
$41,513.89
62,602,260.00
28,272,401.36
$63,356,480.00
$28,313,915.25
Received by Treasurer*s Office:
Week ended July 18 ••••••••*»
Received previously •««*«•«»«
$
•••••••«
249,994p00
Total to July 18 ........
$
249,994s00
$
16,100.00
1,632,400.00
$ 1,648?500.00
Notes Gold tars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Weak: ended July 23
$
400,000.00
Page 2
IT REPORT OF THE ACTIVITIES' OF INVESTIGATORS
OF THE ALCOHOL TAX UNIT.
Compiled from Form Lrl91
AT ¿SS
14 #
Week ending July
Dist
No.
1
State
Stills l<Capaci- Spirits
Seized
ty
Mash
-
-
1934 •
Value of
Property
Value 0 t
Autos r
.?rucks Property__ Destroyed
~~
1Z U R E S
Arrest
2
siaine
...» •
N. H.
-
-
52
-
2
-
Vt.
-
-
-
-
«
-
-
1“
Mass.
1
300
50
-
-
150.
S
3
Conn.
“
-
-
-
-
-
-
J-
-
m
-
-
|-
ftt
■i
fi.I.
7,500
$
-
552*
2
1
-
D
300
10 2
-
2
7,500
§
7
702.
TOTAL
1
2
N.Y.
10
2,395
1,993
57,550
4
3
Pa.
4
680
234
9,234
-
1
N.J.
3*
5,100
2,104
159,000
-
2
Del.
4
12 0
63
2.975
1
im
TOTAL
11
5,900
2,401
171,209
1
3
®
3.565.
Md.
12
1,680
200
5,650
3
1
$
300.
Va.
8
2,480
999
36,150
1
-
2,643 •
2,493.
.1
W. Va.
4
80
10 0
400
3
*
290*
5 150.
2
N.Car.
8
984
259
7,250
2
«
116.
16.
1
S. Car
9
3,096
391
7,730
3
-
460.
-
2
D- C.
3
861
85
2.540
3
TOTAL
44
9,181
2,034
59,720
15
1
$
5,059.
Ga.
20
2,215
758
35,680
2
3
|
5,469 0
Fla.
24
4,180
495
21,710
1 v
Ala.
15
4,400
362
3,900
Miss.
13
971
17
8
345
Te/g.
15
TOTAL
95
5
$
.3,176.
$
1 ,805.
§
930.
8
1,050.
3
1,500.
d
1 2 1 0 . ____ £
260.
&
_1
2.190.
1
1 750.
1
t
¿459.
10
$
¿094.
2
1.250.
3
6,331.
f,ki.
I \
2
7
-
3,313.
1,263.
l
3,270
3
1
1,708.
•
O
HP
H•%
-ft1
—
La.
17,104.
•
4
$
0
10
I
SEI
| *
2
195
2,940
5
-
1,725.
\ 475.
1,395
249
11,460
8
1
2.947.
13,506
2,076
78,960
26
8
$
21,493.
\9
1-717
3j
$ 13,930,
m
TREASURY DEPARTMENT
Washington
rest
2
FOR IMMEDIATE RELEASE,
July Irffp 1934
Press Service
No. 2~^~23
j -
3^
ACTIVITIES, OP INVESTIGATORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING JULY
1934
(Corrected statement based on complete weekly reports
of investigators)
Dist,
No*
31
1
States
Maine
N. H.
Vt.
Mass,
Conn.
R. I.
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals, of^ Autos &
Trucks
Mash
Seized
Seized
Value of
Property
Seized
Arrests
3
1
400
175
106
70
1,200
$ 358
200
7
1
TOTAL
4
575
176
1,200
$ 558
8
2
N. Y.
6
1,928
665
5,200
1
$5,791
3
3
Pa.
N. J.
Del.
3
2
522
1,850
269
200
185
7,944
43,500
3
2
$2,911
600
950
11
1
3
TOTAL
5
2,372
654
51,444
5
$4,461
15
Md.
Va.
W. Va.
N.Car.
S. Car.
D, C.
4
2
3
22
11
58
450
210
2,046
1,045
100
30
107
190
287
10
200
2,050
800
22,210
7,580
1
1
3
$
1
1
250
500
595
541
400
50
6
7
32
8
12
7
TOTAL
42
3,809
724
32,840
7
$2,336
72
Ga.
Fla.
Ala.
Miss.
La,
Tex.
11
20
8
9
5
9
1,660
3,695
2,500
1,025
220
1,350
247
439
174
143
284
284
12,370
16,050
9,650
1,340
1,500
4,430
6
4
5
2
4
$2,099
5,991
1,035
1,249
452
2,291
22
12
19
17
18
45
TOTAL
62
10,450
1,571
45,340
21
$13,117
133
— SI
4
10
5
- 2 -
6
7
8
Arrests
2,580
3,200
4,425
9,950
1
2
4
$ 1,126
725
2,140
2, 300
16
4
23
'16
831
20,155
7
$ 6,291
59
6,000
120
385
148
1
90,500
460
200
2
$ 1,300
557
12
4
8
2
7
6,120
534
91,160
2
$ 1,869
14
N. D.
S. D*
Minn.
Neb.
Iowa
1
20
7
1
2
35
250
49
90
200
642
2
1
$
TOTAL
4
305
146
842
3
Kan.
Old.a.
Mo.
Ark.
3
3
13
5
176
220
1,210
98
62
438
76
1,550
2,050
10,692
2,100
4
1
2
$
TOTAL
24
1,636
674
16,392
7
$ 3,586
Wyo.
Utah
Colo.
Ariz.
N.Mex.
1
1
4
50
100
90
TOTAL
6
240
Cal. i
Nev.
Capacity
Mich.
Ohio
Ky.
Term.
12
3
15
8
422
250
745
950
262
137
300
132
TOTAL
38
2,367
fis.
111.
Ind.
4
3
TOTAL
States
Gals, of
Mash
Seized
1
50
200
320
$
126
* 570
$
1
13
550
TOTAL
1
13
550
Wash.
Ore.
Mont.
Idaho
7
436
2,051
1
35
127
13
11
TOTAL
8
471
151
GRAND TOTAL
207
30, 243
6,265
10
11
12
76
40
10
250
551
5
3
H
1 0
O0
9
Value of
Property
Seized
-SB
Dist.
No-
Aaitos &
Trucks
Seized
Gals* of
Spirits
Seized
Stills
Seized
9
545
737
1,969
335
14
17
21
10
50
150
62 .
3
8
1
200
12
1
1
$ 1,395
40
9
1
5
2,301
2
$1,435
15
267,994
55
$ 40,445
402
250
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
July 23, 1934
Tress Service
No* 2 “ 30
ACTIVITIES QE INVESTIGATORS.
ALCOHOL TAT:-UNIT. FOR WEEK ENDING JULY 14. 1934.
(Corrected statement "based on complete weekly reports
of investigators)
List.
Ho.
1
States
______
Stills
Seized
Capacity
Gals. of
Spirits
Seized
G-als. of
Mash
Seized
Arrests
2
2
150
3
2
$ 702
7
57,550
4
$ 17,104
16
234
2,104
63
9,234
159,000
2,975
1
2
1
$
1,805
1,500
260
8
3
2
5,900
2,401
171,209
4
$
3,565
13
12
8
4
8
9
3
1,680
2,480
80
984
3,096
861
200
999
100
259
391
85
5,650
36,150
400
7,250
7,730
2,540
4
1
3
2
3
3
$
300
2, 643
290
116
460
1,250
14
10
22
13
27
18
TOTAL
44
9,181
2,034
59,720
16
$
5,059
104
da. ‘
Pia.
Ala.
Miss.
La.
Tex.
20
24
15
13
8
15
2,215
4,180
4,400
971
345
1,395
758
495
362
17
195
249
35,680
21,710
3,900
3,270
2,940
11,460
5
4
7
4
5
9
$
5,469
6,331
3,313
1,708
1,725
2,947
29
24
32
22
24
37
TOTAL
95
13,506
2,076
78,960
34
$ 21,493
142
1
300
50
7,500
TOTAL
1
300
102
7,500
2
N. %
10
2,395
1,993
3
Pa.
H. J.
Del.
4
3
4
680
5,100
120
TOTAL
11
Md.
Va.
W. Va.
II.Car.
S. Car.
D. C.
15
Value of
Property
Seized
$ 552
Maine
N.H.
Vt.
Mass*
Conn*
R. I*
4
Autos &
Trucks
Seized
2
52
Dist. States
No. ...
6
7
8
9
10
11
12
Stills
Seized
Capacity
Gals. of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
$ 1,901
1,026
3,575
2,085
7
3
30
16
$
8,587
56
$
150
2,440
170
4
11
3
Arrests
Mich.
Ohio
Ky.
Tenn.
7
4
24
11
1,330
460
1,965
1,155
807
228
838
100
4,560
15,380
11,490
6,050
1
1
4
5
TOTAL
46
4,810
1,973
37,480
11
3
6
4
40
3,600
185
77
988
51
425
87,750
1,475
4
TOTAL
13
3,825
1,116
89,650
4
$
2,760
18
N. D.
S. D.
Minn.
Neb.
Iowa
2
520
13,780
1
$
435
5
405
900
6
68
1,850
385
2
2
9
4
20
290
100
7
TOTAL
11
925
994
15,920
1
$
920
20
Kan.
Okia.
Mo.
Ark.
5
5
8
4
434
232
127
200
39
2,200
1,910
11,546
850
2
3
4
$
1,146
705
2,060
275
17
16
16
8
TOTAL
22
2,188
598
16,506
9
$
4,186
57
Wyo.
Utah
Colo.
Ariz.
N.Mex.
1
50
1
$
385
2
1
2
170
40
20
37
2
81
25
385
110
30
3
2
6
2
3
TOTAL
6
280
Cal. r
Nev. j
TOTAL
Wis.
111.
Ind.
Wash.
Ore.
Mont. '
Idaho
TOTAL
1,754
2
650
400
61
1
145
1,111
4
$
910
16
4
164
40,000
2
$ 15,929
12
4
164
40,000
2
$ 15,929
12
39
57
99
5
3
$
575
590
7
5
750
10
1,915
22
7
205
21
900
2
7
205
117
999
10
$
mtmm wmsmm*
wmmmtm
wm mmm% wmmm
wmm serri««
Tueaday, Jaly 24, 1954.
.3 * » J ./___
Acting Seeretary of thè Troaeitry Coolidge armcraneed
today, July 25, 1934, that thè tender« for #75,000,000,
or thereabouta, of l8 M s j r Tfeaeury bilie, dated Jtily 26,
1934, «et aaturing Jaauary 83, 1435, which « * w offared
on July 2 0 ,
mm
opeaed et thè federili re serre benha on
July 23, 1934*
thè total a n n i applteà for «sui #157,054,000, o f «hieh
# 7 5 ,2 0 0 ,0 0 0 n i accepted.
The accepted M i e ranged I» prie»
tre» 9 9 *9 7 $, equiraleat to a rate of atout 0.03 per cent per
ansa», to 99.943, equiralemt to a rate o f aho ut 0.07 per eant
per m
,
oa a
bmk
discount basis.
Oaiy part of thè eraount
hid far at thè lattar prlee «a* aeeepted.
The arerage prie#
of Treasory M i l a te he issued la 99.906 and thè average rate
1 « ahoat 0.07 per «ent per «urna o& a bau! discount haeie.
TREASURY DEPARTMENT
Washington
Press Service
No * 2 —31
FOR RELEASE, MORNING PAPERS
Tuesday, Ju ly 24, 1934.
7-23-34
Acting Secretary of the Treasury Coolidge announced today,
Ju ly 23, 1934, that the tenders fo r $75,000,000, or thereabouts,
of 182-day Treasury h i l l s , dated Ju ly 25, 1934, and maturing
January 23, 1935, which were o ffered on Ju ly 20, were opened
at the Federal reserve hanks on Ju ly 23, 1934*
The to ta l amount applied fo r was $157,856,000, of which
$75,200,000 was accepted*
The accepted bids ranged in price
from 99*975, equivalent to a rate of about 0*05 per cent per
annum, to 99,963, equivalent to a rate of about 0,07 per cent
per annum, on a bank discount b a s is .
Only part of the amount
b id fo r at the l a t t e r p rice was accepted.
The average price
of Treasury b i l l s to be issued i s 99,966 and the average rate
i s about 0,07 per cent per annum on a bank discount b asis*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Ju ly 25, 1954.
P ress Service
No* 2 - 5 2
When the Swedish Naval Training Vessel H.M.S. a f Chapman reaches
Boston, M assachusetts, in the near fu tu re, Lieutenant Gunnar Nordstrom,
R .S.N ., w ill proceed to New London, Connecticut, in order to make a
thorough study of the Coast Guard Academy, i t was announced today.
The
exact date of a r r iv a l i s uncertain as the train in g ship i s a s a ilin g
I t i s understood th at the Swedish Government in se ttin g up a
Coast Guard plans to pattern i t to some extent a fte r th at of the
United S t a te s .
The Coast Guard of Finland, which was founded in 1950,
i s so patterned.
O
When the a f Chapman went aground near San Juan, P^rto R iq f,
recen tly the United S ta te s Coast Guard v e sse l UNALGA on Ju ly 7th
a s s is te d in re flo a tin g the train in g v e sse l.
In a le t t e r of thanks
to Commander J . E. S tik a of the UNALGA, Commander S . A. Wallin on
Ju ly 15th expressed h is keen appreciation fo r the assista n c e and
added th a t:
" I t has been a great p riv ileg e to meet such worthy repre
sen tativ es o f the United S ta te s Coast Guard Service and to experience
in time of need the e ffic ie n c y of the Command o f the U .S .S. ^UnalgaV,
whose excellen t help to me i s but another proof of the fa c t th at in
*
the Coast Guard Service o f the United S ta te s Treasury Department the
fin e s t tra d itio n s o f the sea are nobly and s k i l l f u l l y upheld."
TREASURY DEPARTMENT
Washington
Press Service
No. 2 - 3 2
EOR IMMEDIATE RELEASE
July 25, 1934.
When the Swedish Naval Training Vessel H.M.S. af Chapman
reaches Boston, Massachusetts, in the near future, Lieutenant G-unnar
Nordstrom, R.S.N., will proceed to New London, Connecticut, in order
to make a thorough study of the Coast Guard Academy, it was announced
today.
The exact date of arrival is uncertain as the training ship
is a sailing vessel.
It is understood that the Swedish
Government, in setting up a
Coast Guard,plans to pattern it to some extent after that of the
United States.
The Coast Guard of Finland, which was founded in
1930, is so patterned.
When the af Chapman went aground near San Juan, Puerto Rico
recently, the United States Coast Guard vessel UNALGA on July 7th
assisted in refloating the training vessel.
In a letter of thanks
to Commander J. E. Stika of the UNALGA, Commander S. A. Wallin on
July 15th expressed his keen appreciation for the assistance and
added that:
»It has "been a great privilege to meet such worthy repre-
sentatives of the United States Coast Guard Service and to expert
in time of need the efficiency of the Command of the U.S.S. UMALGA,
whose excellent help to me is "but another proof of the fact th
the Coast Guard Service of the United States Treasury Department
finest traditions of the sea are nobly and skillfully upheld.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Ju ly 25, 1934«
Press Service
No* 2 —53
Recommendations have been forwarded to the Commandant of the
Coast Guard by T. W. L au riat, Chief Inspector of the Coast Guard, that
Lloyd T. Milner, Gunner’ s Mate ( F ir s t C lass) of the Cape May Coast
Guard Station and J e r r ie L. Jackson, Surfman, o f the Hereford In le t
S ta tio n , Wildwood, New Je rse y , be trie d before a General Coast Guard
Court on charges of ste a lin g and s e llin g Government property*
The men are alleged to have sold Coast Guard ammunition to a
Philadelphia sporting goods sto r e , with the aid o f faked Treasury De
partment authorization s*
As some of the ammunition had been secured by the Coast Guard
from the Marine Corps these packages bore the Marine Corps imprint*
Such markings led au th o ritie s to believe a t f i r s t th at a member of the
Marine Corps was a lso im plicated.
th is was not the case
In vestig ation , however, showed that
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press Service
m y 25, 1934*
No, 2 - 33
Recommendations have been forwarded to the Commandant of the
Coast Guard by T. W. Lauriat, Chief Inspector of the Coast Guard, that
Lloyd T* Milner, Gunner1s Mate (First Class) of the Cape May Coast
Guard Station and Jerrie L. Jackson, Surfman, of the Hereford Inlet
Station, Wildwood, Hew Jersey, he tried before a. General Coast Guard
Court on charges of stealing and selling Government property.
The men are alleged to have sold Coast Guard ammunition to a
Philadelphia sporting goods store, with the aid of faked Treasury De~
partment authorizations.
As some of the ammunition had been secured by the Coast Guard
from the Marine Corps these packages bore the Marine Corps imprint.
Such markings led authorities to believe at first that a member of the
Marine Corps was also implicated.
this was not the case.
Investigation, however, showed that
2 5 J u l y 1934
M B I Q R A K P U M f o r A s s i stant
Secretary G i b b o n s .
The f o l l o w i n g d e s p a t c h d a t e d 1 0 :25 a.m. J u l y
2 5 t h h as b e e n r e c e i v e d f r o » C a p t a i n t i I l i u m j. Wheeler.
C o m m a n d e r , C o a s t G u a r d H e w O r l e a n s Division:
^Coast G u a r d B o a t 9 1 9 1 r e c e n t l y sent to N e w
O r l e a n s f r o m F ort L a u d e r d a l e m a n n e d by Chief
B o a t s w a i n * a M ate J o h n s o n and two o t h e r Coast
G u a r d s m e n w i t h C u s t o m s special a g e n t last n i g h t
c a p t u r e d W A N D E R E R w i t h four p r i s o n e r s and su b
s t a n t i a l licruor c a r g o v i c i n i t y of F o r t S a i n t
Phillip.*
F o r t S a i n t P h i l l i p is about e i g h t y m i l e s
b e l o w l e w Orleans, at the m o u t h o f the M i s s i s s i p p i
R i v e r , o p p o s i t e Fort J a c kson.
C a p t a i n W h e e l e r has
b e e n q u i t e c o n c e r n e d o v e r the s m u g g l i n g a c t i v i t i e s
in the v i c i n i t y of the M i s s i s s i p p i Passes, and w i t h i n
the p a s t s e v e r a l w e e k s d e s p a t c h e d the C G - 9 1 9 1 (a s h a l l o w
d r a f t boat) to that l o c a l i t y in an e n d e a v o r to o f f e r
a m e a s u r e o f s u p p r e s s i o n to the i l l i c i t trade in that
region.
O u r records h e r e do no t d e f i n i t e l y I d e n t i f y
t he b o a t W A N D E R E R r e f e r r e d to, b u t it p o s s i b l y m a y be
the B r i t i s h g a s s c r e w WANDERER, S R feet length, h o m e
p o r t Bells.
*
L. C, C Ô V E L L
Acting Commandant
C o p y to Mr.
Gaston
ASSISTANT SECRETARY OF THE TREASURY
Jtütf 25# 1934.
TO ME* GIBBONS«
Captain Covell telephoned the fol
lowing copy of wire received from the
Commander of the New Orleans Division^
»JtOy 25
From Commander, New Orleans Division*
Coast Guard boat 9191 recently sent
to New Orleans from Fort Lauderdale, manned
by Chief Boatswain Johnson .and two other
C o a s t Guardsmen, with customs special agent,
last night captured the WMB5SEE with fan?
prisoners and a substantial liquor cargo
vicinity of St* Phillip«”
FCR/hm
TREASIJBI DLPAETiE^T
Washington
Press Service
2 - 54
For Issuedi&to Release
July £$» 1 9 8 4 *
m
Coast Guard vessel 9191, recently sent to lew Orleans, Louisiana,
from Fort Lauderdale, Florida, last night captured the WJJDEBEJi, taking
four prisoners and a substantial cargo of liquor near St* Phillip in the
Mississippi Delta, the lew Orleans Division of the Gustos# Bureau announced
today*
The boat was manned by Chief Baatsaf&ia Johnson and two other Coast
'
opt"
Guardsmen, with a Customs Bureau Special Agent*
m
pttmps
m
“'fei'iSS
wmmm
lillSlSt
¡ m i
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
July 25, 1934.
Press Service
No. 2 - 3 4
Coast Guard vessel 9191, recently sent to New Orleans, Louisiana,
from Port Lauderdale, Florida, last night captured the WANDERER, taking
four prisoners and a substantial cargo of liquor near St, Phillip in the
Mississippi Delta, the New Orleans Division of the Customs Bureau
announced today.
The boat was manned by Chief Boatswain Johnson and two other
Coast Guardsmen, with a Customs Bureau Special Agent.
WAsmmm
PsJL,**
M i I t t U i R’JLMSE,
Thursday, July <6, 1934.
~KO -
h ■ 3 S"
Aoting Sacretary of thè Treaeury G o o U â i » today armounced thè
reeult of tbt offerì ng by thè fpeaeury oa MOaday of #100,000,000 of
10-15 year 5 percent bonde of thè foderai fora Hortgage Corporation,
, ■ • C.S. : ■-
tendere for whieh rare reeeired at thè federai referto banks up to
2 o*clock p.
bu
, ©a Wedneeday, lOlf 55.
'fendere for $195,081,600 face enotmt of bonds «ere receltod, of
whieh |100,Sd0,500 oaa aooepted at prie#e raag&ag fra» 102.250 dora
to 100.455, aad aeorued Intere8t fra» May 15 to Àttgost 1, 1954.
part of thè sraount tendered at thè lattei* prie# was aecepted.
Only
The
average prie# of thè bonde to bo leaued le 100.589, aad a total graniti»
of $550,599.59 vili he reoelred.
Saeed oa thè avera®e prleee at whleh
thè bonde are to he issued oa Aagast 1, 1954, thè yield le about 2.98
percent » to tbe earlieet cali date, May 13, 1944, and about 2.95 per
cent to mat uri ty, May 15, 1949.
Ift
m&m
W Ë
TREASURY DEPARTMENT
Washington
result of the offering by the Treasury on Monday of $100,000,000 of
10—15 year 3 percent bonds of the Federal Farm Mortgage Corporation,
tenders for which were received at the Federal reserve banks up to
2 o*clock p* m«3 on Wednesday, July 25*
Tenders for $195,031,600 face amount of bonds were received, of
which $100,260,300 was accepted at prices ranging from 102,250 down
to 100*438, and accrued, interest from May 15 to August 1, 1934*
part of the amount tendered at the latter price was accepted.
Only
The
average price of the bonds to be issued is 100*559, and a total premium
of $560,697.59 will be received*
Based on the average prices at which
the bonds are to be issued on August 1, 1934, the yield is about 2.92
percent to the earliest call date, May 15, 1944, and about 2.95 per
cent to maturity, May 15, 1949.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 26, 1934,
Press Service
No. 2 - 5 6
While on night patrol last night U. S. Coast Guard vessel
CG-8033 seized the British auxiliary schooner KATHQRONA, out of
Nassau, Bahama Islands, with 15 aliens aboard.
The seizure was
made off Deer Field Beach, 16 miles north of Fort Lauderdale,
Florida.
These aliens have been turned over to the Immigration
authorities at Miami, Florida.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 26, 1934.
Press Service
No. 2 - 3 6
While on night patrol last night U. S. Coast Guard vessel
CG-8033 seized the British auxiliary schooner KATHORONA, out of
Nassau, Bahama Islands, with 15 aliens aboard.
The seizure was
made off Deer Field Beach, 16 miles north of Port Lauderdale,
Florida.
These aliens have been turned over to the Immigration
authorities at Miami , Florida^
SEIZURES
Fiscal Year 1932
Customs
Coast Guard
Fiscal Year 1931
Customs
Coast Guard
Customs
r
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
.--O
Fiscal Year 1931
Customs
Coast Guard
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
/.
\
/
1,795
17
Fiscal Year 1932
Customs
Coast Guard
1,091
Fiscal Year 1933
Customs Coast Guard
697
10
Goadfc
SEIZURES BY
&»& COASf 08AIUJ
BeTcragee ojui Autoiaeblle» and B«iis Oitd in Transporting 1««»
Of
By Hwlltt for the Fiscal Years I93I 1 « I534, laftlssiYi
•V
. k
Piseal Year l^li
Jmly
August
'September
October
Bernier
December
January
February
Moreh
April
Kay
June
fetal
b
Fiscal Tear 1332s
ltd;
August
September
October
8 evember
December
January
February
March
April
May
June
fetal
FIsoal Tear 1333s
July
Auguet
September
October
November
Deoember
January
February
March
April
May
June
fetal
I
m
Automobiles
(Humber)
;
__
Boats
(Number)
142
30
m
28
18
ISO
170
153
142
120
100
1|4
145
143
....„152_____
1 0 35*
M»7<3
22,325
3,228
21
13,334
25
27
*7.<3S
8,834
«3
27
9,737
23
9#®34 X
18
8,©33
\
«.»»
37
_____M ____ —
Jb.^3..
140,883
233
113
34
3«
■ 24
27
18
17
27
23
27
10
K
23
5,034
8,788
7*842
3*418
8,281
4,844
3*277
*.e»
2,438
2,588
710
2,280
-
8,033
*3*
5.836
<•#*53
0
21
8,522
»3
7«
75
4*
73
20
5*324
5*503
3*775
4,558
5*
73
¿3
%
84
- .74_.. _.....
2*0$I
0
*3
33
40
48
.... .Jtt______
—
<?7------
3
10
25
27
18
23
3
12
11
8
7*883
11,228
3*213
3»<*3
11,818
14,57«
<»?«»
7*733
12,528
2,308
2
m
A 5
374
2,424
7*339
7,422
77*235
Automobile*
{?iusher)
270
487
323
433
2,23®
804
24,73$
< »?«
- *»<*<
33#580
110
101
123
Alcohol
£Gallons)
Bear
(Sail or.s)
8,557
>,07«
8,403
4,304
5,808
3.5?«
3»<3*
4,804
M3*
3,03®
5*238
i©7
ill
?i««al Tm » 1334s
July
Auguet
’¿'Jr September
October
November
December
January
February
March
April
hay
June
fetal
e 0 Si' 0 M S
liquor
i
l
'
1*223
7®5
-.... 577 _
u , « X Sg
1.707
l,@8l
24,33®
4,443
8,575
3*0»
5*582
305
3*3*5
712
2*25®
3*247
2*327
____ i«iz£________ 5 3 «
— ' 85,753 " ---- -33*52«
4»
4
*
2
1
4
1
27
te
t
*•
me
1
4»
C H S !
Beat*
(Number)
It
23
5
20
27 ^
13
22
21
5
23
25
27
183
00 ARB
Liquor
(Sailona)
B«ev
(Gallons)
20,110
37«
3*788
884
348
10,118
i .ji <
- *3.*71
«7*083
18,404
47*083
22,338
12,453
7*532
20*533
8,824
214,718
Alcohol T
{Omlleme}
m
33
850
«*
365
•
8&
•
225
423
85
1,117
8,5 5«
5
am
2,708
8*437
1,113
828
■4m
m
13
24,048
4,804
4,371
4,087
*<»•35
17»*<*
35*733
23#« 0
31*540
8,824
24,883
8j4_
*»
23
17*022
79
3«4
303
123
7 3«
353
12*545
5
158
*•3**73
22*3«3
7*348
5*077
588
l
7
25
3
23
8
20
27
8
3
4
2
333
347
«8
11,858
385
*»«7
1
7*527
58«
4,073
1*053
199
X
328
V
. 223
■X!
P
X
X
153
3*883
808
225
1
.'X.
2
2
2
2
1
*
*4»
88-
874
2,444
187
2,243
871
383
483
203
m
m
10 •
488
2*100
21
12
7
3
12
27
20
8
24
7
38
854
5*400
•
2,250
437
822
2*338
23*512
27*332
15*281
483
18,030
«*«37
1*338
52
4,278
___*#«7385,888
3*233
355
*»57*
2*748
2,012
747
1,041
m
*
224
....... • ..
7*342
*
-tm
•
36
m
*
cm
to
1,518
'80'
*
2,180
148,157
#
mm
157,30
%
3*
37
36
45
41
83
23
27
23
18
27
16
3*0
PREPARED BY
DIVISIOMOF STATISTICS AND RESEARCH
BUREAU OF CUSTOMS TREASURY DEPARTMENT
3
3
12
3
8
3
$
2
3
3
5
....-.3____
72
2,141
3*303
8,334
2*345
2*523
3*233
534
2,23«
84,488
__ 218
Ml»:!
5
170
2,724
2,832
83
4,388 nt M
3«
3»«< 1W
27
d\
2,582
76 #5 0 1
18
. . 995
105,490
8,310
784
807
801
552
4*
0»
2
•
j§
2
3»*7*
2,8#
-
«31
*#«•
7*237
206
430
23,578_
33*134
m
^
,,4 f t
.4
5
4
5
11
•
«
•
•
m
4
2
m
1
am
4m
28
4,521
488
10,482
20,128
^_2*535
5%.
2,723
205
120
*
me
•
M
me
135 < P 5
cm
40,250
•
*
•
3»737
*
*
5.375
*
120
«* ^ ■
•p| •
me
3,112
SEIZURES
FISCAL YEAR 1951
COAST GUAM)
CUSTOMS
i
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
17
189
214,716
8,552
2,457
1,795
299
140,665
77,295
10,496
FISCAL YEAR 1952
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
5
158
205,495
11,989
7,548
1,091
258
95,580
68,255
12,545
FISCAL YEAR 1955
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
10
96
85,686
7,942
157,565
697
161
85,759
55,520
14,677
FISCAL
'^
4 X
c
560
Automobiles
28
\
72
Boats
40,250
5,430 '
Liquor (gallons)
120
8,910
\
Beer (gallons)
53,154^
9
,
1
12 y
a
Alcohol (gallone)
\C
TOTAL SEIZURES 1951 to 1954 INCLUSIVE
/
/
Automobiles
Boats
Liquor (gallons)
Beer (gallons)
Alcohol (gallons)
5,945
770
425,492
187,978
70,852
56
471
544,145
28,605
176,260
TREASURY DEPARTMENT
Washington
New Service
No. 2 - ^ 7
FOR IMMEDIATE RELEASE
July 27, 1934.
Changing trends in bootlegging and rum running are revealed by
g
the figures of seizures by the Customs Bureau and the Coast Guard for the
04i
/«*
of alcohol by the same Bureau have been greater in the months since repeal
the, ft-*
than in any of the past three fiscal years.
Thirty-three thousand one hundred-thirty-four gallons of alcohol wene
confiscated during the year ending June 30, 1954.y^ikwwise seizures ^f
{)
\
liquor by the Coast Guard during the year dropped to 40J250. A
3/
* Pa,&££fu-0
«-ßf'ZÄ*
f
mirfiî? or
Seizures
qr bee
beey^by the Custom# Bureau have been steadily dropping
Qrf Ma. £e*i£kA
M
WnZ&i J $ / ailiHAsQ
asLnce 1931 from 77,295 gallons to 8,910 gallons in the past fiscal year^*>$.
-
In 1931 the Coast Guard seized 8,552 gallons of beer, while in 1934 they
seized but 120 gallons.
The largest single seizure of liquor made in any one month during
the past four fiscal years by the Customs Bureau was made in November, 1935,
n
the month before the prohibition amendment was repealed, /
1T~P'
£ V V * <ff dJifivA
7
,/
The attached xatdes show the seizures by Customs and Coast Guard
of alcoholic beverages and automobiles and boats used in transporting
them, by months, for the fiscal year 1934 and total seizures made in the
fiscal years 1931, 1932 and 1933.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
July 27, 1934.
Press Service
No. 2 - 3 7
Changing trends in bootlegging and rum running are revealed by the figures
of seizures by the Customs Bureau and the Coast Guard for the fiscal years 1931
through 1934.
Since repeal of the Eighteenth Amendment, the seizures by the
Customs Bureau of liquor have been steadily decreasing.
During the last fiscal
year, a total of 105,430 gallons were taken with only 24,568 gallons seized
since repeal.
On the other hand seizures of alcohol by the same Bureau have
been greater in the months since repeal than in any of the past three fiscal
years.
Thirty-three thousand one hundred thirty-four gallons of alcohol were
confiscated during the year ending June 30, 1934.
Of this amount, 26,945
gallons were taken since repeal.
Likewise seizures of liquor by the Coast Guard during the year dropped to
40,250, of which only 3,138 gallons were seized since repeal.
Alcohol seizures
by the Coast Guard, on the other hand, were 5,375 gallons, as against 9,112 for
the year 1934.
Seizures of beer by the Customs Bureau have been steadily dropping since
1931 from 77,295 gallons to 8,910 gallons in the past fiscal year.
latter figure, only 381 gallons were seized since December.
Of the
In 1931 the Coast
Guard seized 8,552 gallons of beer, while in 1934 they seized but 120 gallons.
The largest single seizure of liquor made in any one month during the
past four fiscal years by the Customs Bureau was made in November, 1933, the
month before the prohibition amendment was repealed.
Then 64,468 gallons, or
more than half of the year*s total, were taken.
The attached tables show the seizures by Customs and Coast Guard of alcoholic
beverages and automobiles and boats used in transporting them, by months, for the
fiscal year 1934 and total seizures made in the fiscal years 1931, 1932 and 1933,
SEIZURES BY CUSTOMS AND COAST GUARD
Of Alcoholic Beverages and Automobiles and Boats Used in Transporting Same
By Months for the Fiscal Years 1931
1931+» Inclusive
C U S T O M S _________________
j&utomobiles
Fiscal Year 193^s
July
August
September
October
November
December
January
February
March
April
May
June
Total
32
27
36
Boats
(Li q u o r
(Gallons)
9
9
1¿
2, l h l
8 ,98h
3, 1 3 3
1+5
hi
9
2 ,19 6
8
*13
3
6
2
6h , h 6 S
8,063
2*724
2,891
h,988
3,**o6
29
27
29
18
1,561
17
76
20Q
1*30
13,528
17
3
935
16
360
?2
195,^90
8,910
mk
1,795
299
lUo, 6 6 3
77,295
1 0 ,1+96
it
189
2 lha7 1 6
3,552
2,1+37
k
$
i
2
4
5
**,521
h68
10 ,h 62
11
20,126
2
4
2,6h9
h3i
2 ,1+60
m
16
w
4»
551
3 .U 76
5
I 7Ö
\
***
—
*r
1 ,0 9 1
238
93.580
6 8 ,2 5 3
12,5**5
5
158
2 0 3 ,^ 9 3
n,939
7,3i+3
2,729
209
195
1
120
!
28
/
Alcohol
( Gallons)
4*
•
3 .7 3 7
*•
5 ,3 75
—
:—
•**
44
**
•
1*0,250
J.20
9,112
V
;
k
SEIZUÉES
fiscal Year 1^35
;
Customs
Coast Guard
5
2
,
§
Beer
( Gallons)
1,535
4
33,13*+
1
G U A RD
LiquoY
(Gallons)
Boats
807
6OI
218
3
3
1
C OAST
Automobiles
76h
3,909
1 ,3*15
2,523
53U
7,2 3 t
Fiscal Year 1931
Customs
Coast Guard
Automobiles
Boats
Liquor (Gallons)
Beer (Gallons)
Alcohol (Gallons)
Beer
Alcohol
(Gallons) (Gallons)
3h
! i*
~
T o t a l Sei z u r e s 1931
Fisdal Yeair 1933
Customs Coast, Guard
697
16 1
85.759
33,520
1*1,677
10
96
S5,6s 6
7.9*12
X57,363
to 1 9 3 ^ » iliciusive
Customs Coast Guard
3.9*131
770 •
36
b jx
U25.492
5l*,lU5
1 8 7 ,9 7 8
7 0 ,«52
2 8 ,6 0 3
1 7 6 ,2 6 0
m-
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
July 27, 1934.
Press Service
No. 2 - 37
Changing trends in bootlegging and rum running are revealed by the figures
of seizures by the Customs Bureau and the Coast Guard for the fiscal years 1931
through 1934.“
Since repeal of the Eighteenth Amendment, the seizures by the
Customs Bureau of liquor have been steadily decreasing.
During the last fiscal
year, a total of 105,430 gallons were taken with only 24,568 gallons seized
since repeal.
On the other hand seizures of alcohol by the same Bureau have
been greater in the months since repeal than in any of the past three fiscal
years.
Thirty-three thousand one hundred thirty-four gallons of alcohol were
confiscated during the year ending June 30, 1934.
Of this amount, 26,945
gallons were taken since repeal.
Likewise seizures of liquor by the Coast Guard during the year dropped to
40,250, of which only 3,138 gallons were seized since repeal.
Alcohol seizures
by the Coast Guard, on the other hand, were 5,375 gallons, as against 9,112 for
the year 1934.
Seizures of beer by the Customs Bureau have been steadily dropping since
1931 from 77,295 gallons to 8,910 gallons in the past fiscal year.
latter figure, only 381 gallons were seized since December,
Of the
In 1931 the Coast
Guard seized 8,552 gallons of beer, while in 1934 they seized but 120 gallons.
The largest single seizure of liquor made in any one month during the
past four fiscal years by the Customs Bureau was made in November, 1933, the
month before the prqhibition amendment was repealed.
Then 64,468 gallons, or
more than half of the year*s total, were taken.
The attached tables show the seizures by Customs and Coast Guard of alcoholic
beverages and automobiles and boats used in transporting them, by months, for the
fiscal year 1934 and total seizures made in the fiscal years 1931, 1932 and 1933,
SEIZURES BY CUSTOMS AUD COAST GUARD
Of Alcoholic Beverages and Automobiles and Boats Used in Transporting Same
By Months for the Fiscal Years 1931 to 193*+» Inclusive
Automobiles
F i s c a l Y e a r 193*+J
July
August
September
October
November
December
January
February
March
April
May
June
To t a l
Boats
C U S T O M S
(Liquor
Beer
Alcohol
(Gallons) (Gallons) (Gallons)
32
9
2 ,i t a
27
9
g,9gi*
36
i¿
3 .13 3
2 .19 6
%
Hi
*+3
29
27
29
18
9
S
Z
2,891
U,9gg
3,
3
17
3
5
'16
$
360
72
l,56l
§35
19 5 ,% q
;
fi
F i s c a l ifear 1931
C u stoms
Co a s t G u a r d
Automobiles
1,795
Boats
Liquor (Gallons)
Beer (Gallons)
Alcohol (Gallons)
—
a t
5 r
299
1 ^ 0,663
77,295
10 ,1+96
17
189
2ii*,7iE
S, 552
2,^37
601
551
3.^76
53*+
2X 8
g, 063
2,724
170
63
3H
17
76
16
*
~
i
2
5
2,729
209
1
195
++•
m
¿
,
mm
Ho,
Z$
;
/u \
/
<i
F i s c a l Y e a r 1$Í32
Co a s t G u a r d
C u stoms
i '
F i s ô a l Y ë à r 1933
Cu s t ö m s Coast, G u a r d
1,0 9 1
5
697
10
238
93,5SO
158
203,1*93
11,9 29
I 6I
96
68,253
12,5^5
25,759
33,520
1^ ,6 77
7,3**S
- •W
3,737
1,535
/
33.13^
*
SEIZURES
20,126
m
tr
*+-
200
1*30
13,528
V
11
2
7,2 3 7
8,910
120
5
U ,5 2 1
H6s
10 ,H 62
5
%-
è
2,61*9
1*31
2 ,1*60
5
Uo 6
V
807
2,523
6l*,l*6g
1
76H
3,909
1,3*6
C O A S T
G U A R D
Alcohol
Boats
Liquo^
Beer
(Gallons) (Gallons) (Gallons)
Automobiles
-flp
--
85,686
7.9^2
1 5 7,363
250
5, 3 7 5
m4 •
120
9,H2
T o t a l S e i z u r e s 1931
to 193*+, i n c l u s i v e
C u s t o m s Coast G u a r d
36
3 ,9^3 ■
*+71
770
5H H , l H 5
*+25,^92
28,603
1 8 7,978
176,260
70,852
M A Jib -
O
^
f f ic e
of
the
C O M M ISSIO N ER O F C U ST O M S
TREA
f
TO ASSISTANT SECRETARY GIBBONS
FROM THE COMMISSIONER OF CUSTOMS :
You may be in terested in the attached compilation, which
shows the seizu res made in border Customs d is t r i c t s a fte r the
customs inspection was tightened up a s the r e su lt of complaints
from D etroit and B uffalo that the inspection was not a s thorough
as i t should be*
The compilation shows that the seizu res made during th is
period were no greater than the seizu res normally made* The
inspection during th is period was very r ig id , and only one con
clusion can be drawn, i . e . , that smuggling by automobile through
the regu lar ports o f entry i s minor*
■>
End
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 28, 1934.
Press Service
No. 2 - 38
As a result of the tightening up of the inspection of automobiles coming
into the United States from Canada and Mexico through principal ports of entry,
officials of the Customs Bureau conclude that smuggling by automobile is of
little consequence.
The test was made over the past few months and the
seizures compared with those of one year ago.
Evidence showed that very little
additional contraband was seized when the inspection of automobiles was made
more rigid.
The records would seem to indicate that the judgment of the Customs officialr
as to who are and who are not suspicious characters is usually accurate.
Most of the seizures were small quantities of liquor, the largest taken
being a load of 230 quarts of liquor at Detroit on May 20th,
Frequently ports
of entry would go for more than a week without making a single seizure, although
every automobile was searched thoroughly.
Among the items seized were books of lottery tickets, loaves of bread,
trees, mangoes, cigarettes, perfume, miscellaneous jewelry, fruit, gold bars,
pictures, playing cards, medicine, animals, codeine, maple sugar, woolens,
linen handkerchiefs, tin, knives and shrubs.
The points at which the complete
investigation of all automobiles was made were Buffalo, Cleveland, Detroit,
Duluth, El Paso, Great Falls, Nogales, Ogdensburg, Pembina, Portland, (Maine),
Rochester, San Antonio, San Diego, Seattle and St. Albans.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 28, 1934.
Press Service
No. 2 - 3 8
As a result of the tightening up of the inspection of automobiles coming
into the United States from Canada and Mexico through principal ports of entry,
officials of the Customs Bureau conclude that smuggling by automobile is of
little consequence.
The test was made over the past few months and the
seizures compared with those of one year ago.
Evidence showed that very little
additional contraband was seized when the inspection of automobiles was made
more rigid.
The records would seem to indicate that the judgment of the Customs officials
as to who are and who are not suspicious characters is usually accurate.
Most of the seizures were small quantities of liquor, the largest taken
being a load of 230 quarts of liquor at Detroit on May 20th,
Frequently ports
of entry would go for more than a week without making a single seizure, although
every automobile was searched thoroughly.
Among the items seized were books of lottery tickets, loaves of bread,
trees, mangoes, cigarettes, porfume, miscellaneous jewelry, fruit, gold bars,
pictures, playing cards, medicine, animals, codeine, maple sugar, woolens,
linen handkerchiefs, tin, knives and shrubs..
The points at which the complete
investigation of all automobiles was made were Buffalo, Cleveland, Detroit,
Duluth, El Paso, Great Falls, Nogales, Ogdensburg, Pembina, Portland, (Maine),
Rochester, San Antonio, Sa^Diego, Seattle and St., Albans.
HJ©»©ra4--Circultärs, no. 2«
3. Brand labels and/or nook band labels which
contain in large and prominent type the figures ’12$*
followed by the words in small letters ‘proof spirits’.
4. Labels which carry the implication of foreign
origin through the use of the word ‘Pilsner’ or some
other characteristic foreign word without further
qualification on the label by the use of the word ‘type*.
acter violate Regulations 9 of the Treasury RejiSrtment, the
Administration invites your c o n s i d e r a t t h e propriety of
issuing a circular letter to permit)
Jwr^wer'S, instructing the
discontinuance of these objectisjaif^le labeling practices.11
Labels placed on contaiaj^i'li of beer must not bear any statement,
design or device which ia^sf^^^truthful, or which tends to deceive or mi
lead the purchasers o&d&ke beer.
ict Supervisors are directed to furnish all brewers in
Acting
.T*cET**"
their di#4ïfiets w
E&RQH) n . g r a v e s ,
Acting Deputy Commissioner.
General Circulars, No. 2
July 21, 1934,
Labeling of Beer,
TO ACTING DISTRICT SUPERVISORS
AND OTHERS CONCERNED:
A letter, dated July 5, 11934, has been received from Honorable Harri
E, Willingham, Assistant Director, Federal Alcohol Control Administration
Washington, D. C., reading # follows:
’’This Administra1a.on has recently received numerous
complaints against briers in connection with improper label
ing of beer, and in view of the fact that the objectionable
labels in most instances appear to come within the purview of
Treasury Regulationsjp, which were promulgated under the Act
of March 22, 1933, IIam addressing you oh Hie subject.
/
nAs you are no Jaaubt aware, this Administration has
taken the view that jTreasury regulations on the subject of
beer labeling are if full force and effect in the absence of
any labeling regulations prescribed by this Administration
under the terms ofJphe Brewers* Code. It is also understood
that although the ofreasury regulations do not prescribe that
beer labels shall contain a statement of alcoholic content,
your department ha$ so interpreted the regulations as to
permit a brewer tafplace on his label, matter in addition to
that prescribed bjf regulations, including a statement of
alcoholic content1 provided that such additional matter as is
placed on Hie latpl in truthful and not designed or intended
to create a misleading impression. The complaints which have
been called to dur att elation on beer labels seepi
.£a3JLAatn
the following cjtegoriep:
f
V
1. Labels iidiich specify Hie alcoholic content
as being 6$ by volume, whereas in fact the product
contains only 3 or 4Jo alcohol by volume,
2,
Brand labels and neck band labels which
contain in large and prominent type the figures
*14$* followed by the words in small letters 1original
extract1.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
July 2% 1934.
Press Service
No. 2 -
Licensed brewers of the country have been furnished a circular list-
O
ing complaints concerning beer labels, the Alcohol Tax Unit of the Internal
Revenue Bureau announced today.
This information was received by the Federal Alcohol Control Adminis
tration and forwarded to the Alcohol Tax Unit as objectionable labels in
most instances come within the purview of Treasury Regulation No. 9, pro
mulgated under the Act of March 22, 1953.
Labels placed on containers of beer must not bear any statement,
design or device which is not truthful, or which tends to deceive or mislead
the purchasers of the beer.
The most frequent complaints regarding beer labels fallf into the
following categories:
A
TREASURY DEPARTMENT
Washington
fOR IMMEDIATE RELEASE,
July 28, 1934.
Press Service
No* 2 ~ 39
Licensed "brewers of the country have "been furnished a circular list
ing complaints concerning beer labels, the Alcohol Tax Unit of the Internal
Revenue Bureau announced today.
This information was received by the Federal Alcohol Control Adminis
tration and forwarded to the Alcohol Tax Unit as objectionable labels in
most instances come within the purview of Treasury Regulation No, 9, pro
mulgated under the Act of March 22, 1933.
Labels placed on containers of beer must not bear any statement,
design or device which is not truthful, or which tends to deceive or mislead
the purchasers of the beer,.
The most frequent complaints regarding beer labels fall into the
following categories:
“1. Labels which specify the alcoholic content
as being &Jo by volume, whereas in fact the product
contains only 3 or 4$ alcohol by volume,
2. Brand labels and neck band labels which
contain in large and prominent type the figures
»14$» followed by the words in small letters »original
extract »,
3. Brand labels and/or neck band labels which
contain in large and prominent type the figures *12$»
followed by the words in small letters »proof spirits1,
4. Labela which carry the implication of foreign
origin through the use of the word »Pilsner» or some
other characteristic foreign word without further
qualification on the label by the use of the 7/ord »typo»,*»
I
REPORT OF THE ACTIVITIES OF INVESTIGATORS
OF THE ALCOHOL TAX UNIT
Compiled from Form L-191
AT.¡So
II
ffieete ending. July 21, 1934,
Dist.
No.
Capaci
State
va±ue of
Spirits
Mash
¿ltos Trucks
Value of
Property
Destro fmfl
Maine
M.H.
Vt.
Mass
$
Conn.
760.
4,725.
R.I.
230.
TOTAL
TOTAL
Md.
3,66C
430
3,730
2,475
462
7,675
315
72
N.Cer.
1,188
S.Car.
763
Va.
W.Va.
30
1,730.
55.
I
1,175.
880
733.
253.
23
,142
5,535
237.
18
383
10,100
|207.
I
545.
\ ~
20
D.C.
1,452
317
6,900
TOTAL
9,853
,1,806
34,820
Ga.
1,800
349
34,700
Fla.
2,950
248
13,545
Ala.
3,725
113
4,125
Miss.
1,470
462
1,050
780
1,794
7,300
Texas
1.695
594
11.085
.TOTAL
L2.420
La.
840
2,967.
#
I
1,692.
8
17
- 2 -
r- - - - - - - - Stills
Seized
Capacity
Cals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Mich.
Ohio
Ky.
Tenn.
7
4
24
11
1,330
460
1,965
1,155
807
228
838
100
4,560
15,380
11,490
6,050
1
1
4
5
$ 1,901
1,026
3,575
2,085
TOTAL
46
4,810
1,973
37,480
11
3
6
4
40
3,600
185
77
988
51
425
87,750
1,475
4
TOTAL
13
3,825
1,116
89,650
N. D.
S. D.
Minn.
Ueb.
Iowa
2
520
13, 780
5
405
900
6
68
1,850
4
20
290
TOTAL
11
925
994
15,920
1
Kan.
Okia,
Mo.
Ark,
5
5
8
4
434
232
127
200.
39
2,200
1,910
11,546
850
TOTAL
22
2,188
598
16,506
Wyo.
Utah
Colo.
Ariz.
U.Mex.
1
50
2
1
2
170
40
20
37
2
81
25
TOTAL
6
280
Cal.
rUev. J
TOTAL
Dist.
Wo.
States
6
1
7
8
9
1
10
11
12
fis.
111.
Ind.
Wash.
Ore.
Mont. "}
Idaho
1,754
Cb
Arrests
7
3
30
16
$
8,587
56
$
150
2,440
170
4
11
3
4
$
2,760
18
1
$
435
385
2
2
9
100
7
$
920
20
2
3
4
$
1,146
705
2,060
275
17
16
16
8
9
$
4,186
57
1
$
385
385
110
30
3
2
6
2
3
2
650
400
61
1
145
1,111
4
$
910
16
4
164
40,000
2
$ 15,929
12
4
164
40,000
2
$ 15,929
12
39
57
99
5
3
$
7
205
21
900
2
TOTAL
7
205
117
999
10
__GRAND TOTAL
270
43,515
13,713
576,605
101
575
590
7
5
750
10
1,915
22
$ 83,130
509
$
- 2
Di st.
No.
6
States
Stills
Seized
Capacity
-- fl
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Tracks
Seized
Value of
Property
Seized
Arrests
Mich.
Ohio
Ky.
Tenn*
8
7
18
16
1*205
735
780
1,425
768
1,547
315
409
15,890
22,150
3, 590
14,140
4
5
4
5
$ 2,689
11,315
2,225
2, 828
12
14
33
32
TOTAL
49
4,145
3,039
55,770
18
$19,057
73
Wis.
Ills.
Ind.
2
5
4
1,020
1,700
1,865
495
55
562
40,000
58,900
8,041
$ 1,875
1,275
316
5
19
5
TOTAL
11
4,585
1,112
106,941
$ 3,466
29
3
6
1
2
80
200
125
200
6
24
118
636
246
30
455
1,200
3,000
TOTAL
12
605
1,030
Kan.
Okia.
Mo.
Ark.
1
2
6
7
25
TOTAL
16
Wyo.
Utah
Colo.
Ariz.
N.Mex.
i
1
7
8
9
IO
11
12
N. D. '
S. D.
Minn.
Neh.
Iowa
4
635
278
l, 586
3
7
1
11
4,685
5
$ 2,499
22
5
75
59
123
80
440
2,070
5, 850
1
1
3
263
$ 1,406
1,220
2
11
16
17
405
262
8,440
5
$ 2,889
46
1
75
1
$
75
410
5
533
21
104
69
2
1
12
2
100
47
3
560
1
TOTAL
8
708
241
1,$65
4
$ 1,045
16
Cal.
Nev.
8
858
205,021
5
$43,432
9
TOTAL
8
858
205,021
5
$43,432
9
4
3
$
654
1,924
3
7
26
10
$ 2,603
20
$135,097
537
Wash.
Ore.
Mont.
Idaho
TOTAL
380
1
$
1,665
4
550
22
370
3
85
19
250
7
635
411
250
7
I
1
M
Æ
jj
j
I
GRAND TOTAL
291
37,681
16,104
608,756
106
i
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
July 30, 1934
Press Service
Ho, 2 - 4 0
ACTIVITIES OF INVESTIGATORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING JULY 21, 1934,
(Corrected statement based on complete weekly reports
of investigators)
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
900
2
2
1
$ 760
4,725
230
2
8
3
930
900
5
$ 5,715
13
660
1,550
92,000
9
$24,587
30
6
3
885
935
695
610
16,009
10,450
1
1
$ 4, b30
850
4
8
TOTAL
9
1,790
1,305
26,459
2
$ 5,480
12
Md.
Va.
W. Va.
N. Car.
S.Car,
D. C,
12
9
7
9
7
4
3,660
2,475
315
1,188
763
1,452
430
462
72
142
383
317
3,730
7,675
880
5,535
10,100
6,900
7
4
2
1
2
5
$
840
1,730
733
237
545
2,967
30
8
23
18
20
17
TOTAL
48
9,853
1,806
34, 820
21
$ 7,072
116
Ga. '
Fla.
Ala.
Miss.
La.
Texas
18
19
19
8
17
19
1,800
2,950
3,725
1,470
780
1,695
349
248
113
462
1,794
594
34,700
13,545
4,125
1,050
7,300
11,085
$ 3,866
4,326
1,533
1,749
2,167
3,611
14
16
19
16
27
41
TOTAL
100
12,420
3,560
71,805
$17,252
133
S cat es
Gals, of
Spirits
Seized
Stills
Seized
Capacity
2
7
150
1,725
165
753
12
TOTAL
9
1,875
2
N. Y.
14
3
Pa.
N. J.
Del.
Dist.
No,
1
4
5
Maine
n ,'h .
Vt.
Mass.
Conn,
H. I.
Gals, of
Mash
Seized
1
7
2
6
3 .
5
24
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
f
July 50, 1954,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1953)
Week ended July 27, 1934.
San Francisco ..............
126,926.93 fine ounces
«
Denver.......
5,854.00 n
«
Philadelphia ...................................159.958.55 n
w
Total for.the.week...................••••• 292,719.48 ti
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended July 27, 1934:
______ Imports______ Secondary
Philadelphia..... $
13,091.30
New York ........ 18,882,000.00
San Francisco ....
964,224.94
77,838.00
Denver •••••••....
New Orleans ••••••
766.20
Seattle.................... ...
Tot a l ........119.957.920.44
$
New Domestic
294,348.14
2,738,000.00
129,776.67
35,643.00
43,809.89
20.765.26
$
66.40
1,445,633.40
483,177.00
98.23
264.606.31
¿3.260.540,96'
$2,195.581.54
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1955)
Received by Federal Reserve Banks:
_____ Gold Coin_______
Week ended July 25 ••••••.. .. $
220,936.98
Received previously ...••••
28,313.915.25
Total to July 25
. $ 28,534,852.23
Gold Certificates
$
954,830.00
63.356,480.00
$ 64,311,310.00
Received by Treasurer’s Office:
Week ended July 2 5 ....... • 1
Received previously ...••••
Total to July 25 ••••... • $
Note:
249.994.00
249,994.00
$
7,400.00
1.648.500.00
1
1.655.900.00
Gold bars deposited with the ^ew ^ork Assay uffice to the amount of
$200,572.69 previously reported.
TREASURY DEPARTMENT
Washington
July 30, 1934,
4 memorandum f o r t h e p r e s s
RECEIPTS OE SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended July 27, 1934:
San Francisco «,..••••••••••••••••••••••••••••*••• 126,926.93 fine ounces
Denver
5,854,00
Philadelphia ......................« 159,938,55
Total for the week
292,719,48
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OEEICES:
Imports
Week ended July 27, 1934
____ Secondary
New Domestic
Philadelphia,,,,,
New York •••.••••
San Francisco •••
Denver ••••••••••
New Orleans •••••
Seattle
$
13,091.30
18,882,000.00
964,224.94
77,838.00
766.20
$ 294,348.14
2,738,000.00
129,776.67
33,643.00
43,809.89
20,763.26
$
66,40
Total ., •,, •
$19,937,920.44
$3,260,540.96
$2,193,581.34
1,445,633.40
483,177.00
98.23
264,606.31
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:
_____ Gold Coin________ Gold Certificates
Week ended July 25 ••••••••••• $
220,936.98
Received previously ••••••••••
28,313,915.25
Total to July 25
$ 28,534,852,23
$
954,830.00
63,356,480.00
$ 64,311,310.00
Received by Treasurer* s Office:
Mote:
Week ended July 25 ••••••••••• $
Received previously ..••«•••••
••••••••
249,994.00
Total to July 25 •••••••••• $
249,994.00
$
7,400.00
1,648,500.00
$
1,655,900.00
Gold tars dopositod with tho Now York Assay Office to tho amount of
$200,572.69 previously reported.
mBmrnmn
FOB KELms», H U B S * PAPIRI,
Tuesday, J u l y 51» I B M *
Secretary of the Treasury Mergenthau announced last
evening that the tenders f o r #75,000,000,
op
thereabout*,
of 18&~day Treasury hills» dated Avgust 1, 1954» and
maturing January 50, 1955, «hi eh sere offered cm July 57,
were- s p e s i et the Federal reserve hanks <® July 50, 1954,
The total amount applied for was #115,497,000, of
whieh #75,055,000 was nceepted. The accepted bids ranged
in price from 99*975, obéiraient to a rate of about 0»0IS
por cent per ansimi, to 99*949, efuivnlsrt to a rate of
about 0*10 per cent per annum, on a bank discount basis*
Only part of the amount bid for at the lattar price was
aeceptsd* The average price of Treasury hills to he iesued
ie 99*957 f** the average rata ia about 0*09 per cent per
asnem on a hank discount basis*
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING PAPERS
Tuesday, July 51, 1934.
7-30-34.
Press Service
No. 2 - 4 1
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury "bills, dated August 1, 1934, and
maturing January 30, 1935, which were offered on July 27,
were opened at the Federal reserve "banks on July 30, 1934.
The total amount applied for was $115,497,000, of
which $75,025,000 was accepted.
The accepted "bids ranged
in price from 99.975, equivalent to a rate of about 0.05
per cent per annum, to 99.949, equivalent to a rate of
about 0,10 per cent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted.
The average price of Treasury bills to be issued
is 99.957 and the average rate is about 0.09 per cent per
annum on a bank discount basis.
required for all shipments of gold to the United States
exceeding $100 in value.
Exceptions are made for gold
already in transit, gold imported into the United States
for reexport, and crude gold.
TEEASUBY DSPAESfKBHT
Uashington
EOR i&fJEDIATE RELEASE
August I, IS34*
Press Service
17o* 2 - 4 2
Tiie Secretary of the treasury today made the following
annolineomenti
Effective tomorrow, consular invoices will he required
for all shipments of gold to the United States exceeding
$100 in value*
Exceptions are made for gold already in
transit, gold imported into the United States for reexport,
anu. crude gold*
■
July 31, 1934
Memorandum to Mr. Gaston;
Attached» Press statement of
Regulations governing rectifiers.
(a M 5 ^
Walter Atkins
page 3
wood alcohol
$
f
HThe use of wood alcohol, as a dénaturant, was discontinued
#
.
on account of prohibition, and the Repeal of prohibition would appear
to justify its restoration*
|
Public policy dictated the Departments
O
|K K
action daring prohibition, and, I believe that, under present conditions,
it would be good policy to resume the use of wood alcohol as a dénaturait,»
l£r.Graves added that, with the Commissioners approval, a new formula,
Àk
fully acceptable to the trade interests involved, and which, at the same
time would amply protect the Governments interests, would be prepared,’
j\
Wood alcohol, as a dénaturant in industrial alcohol, was
first u s e d ^ after the passage in 1906 by Congress of the Tax-Free
Denatured Alcohol Act,
F
This authorized the manufacture and sale of
alcohol, tax free to industry, after its denaturation with ingredients
which rendered it unfit for beverage purposes.
The Act provided for
denaturation with wood alcohol or other suitable substances.
Tfcis policy
was continued until January 1, 1931, when the f o r m u l a containing the
wood alcohol denaturante was revoked.
\
page 2
wood alcohol
denatured alcohol containing a relatively small per centage of wood
alcohol*
They also e m p h a g L ^ d the point that legalization of
b e v e r ^ e ^ M ^ o r s ^ ^ s virtually removed fi»g«ii4teewpw>i*c the #igaAMbe
danger^ existing in earlier years »growing out of use of denatured
alcohol for beverage purposes.
It was also their contention that
wood alcohol» used as a denaturant, offers greater protection against
diversion of the denatured product» and thus greater protection of the
Government's liquor revenue» than do^jf the denaturants now used*
Commissioner Helvering, before reaching a decision, carefully
w e i r e d the facts presented by the petitioners, both in their briefs
and arguments presented at the hearing*
The hearing, by direction of
Commissioner Helvering was conducted by Harold N* Graves,Acting Deputy
Commissioner,
In his report to the Commissioner, Mr* Graves said:
MI have given careful consideration to all phases of this
question and 1 am of the opinion that it would be advisable to restore
wood alcohol as one of the denaturants for completely denatured alcohol*
There is no difference of opinion between the trade and the technical
division of the Alcohol Tax Unit,with respect to the efficiency and
utility of wood alcohol as a denaturant,
MThe sale of 100 per cent p u ce wood alcohol, without restric
tions to the general publlc9probably does constitute a greater hazard
from the point of view of the consumers of bootleg liquor, than the sal«
of ethyl alcohol denatured with not more than 10 per cent wood alcohol»
if this is masked with the skull and cross bones to warn the user that
it is deadly poison*
lSE
'fînalddScï'sîïm
u**'
i
A**\yiA?\*îyiASW
\jj
^
FOI
/ i/ L
CZ^^pAs*sv
■^ u
ô
-. x
4 3
j
SL.-tflV
The use of wood alcohol as a dénaturant in the formula for
completely denatured alcohol, was authorized today (Aug.2j
)
by Guy T,
Helvering, Commissioner of Internal Revenue,in a decision approved by
the Secretary of the Treasury*
In accordance with this decision the
Alcohol Tax Unit, having immediate supervision over plants manufacturé
completely denatured alcohol,will revise the existing formula and
regulations*
Decision to restore wood alcohol as a dénaturant was reached
after a petition, prepared by sixteen representative manufacturers,
distributers and users of completely denatured alcohol, urging its
commercial utility as a dénaturant, had been filed with the Treasury
Department, and hearings were conducted*
The trade représenta lives
_spfl3’ro f o r o o mo o f t h o count ry e leading commercial on tcrpyiR p «>g»iga.ggfl
,,jjn,.r>..i..rru mill m "tu 'lb itiftn r f romp! rrt fïTy dfinntnrod nlnohol f o r ~~
anti-freesp-and certain ,
~ r ™— r —'
Business men, in protests against the existing formula,asserted
it was not satisfactory for anti— freeze purposes because of disagreeable
orders of dénaturants used, and that these odors interfered with the
^
utility of this type of industrial alcohol in manufacturing processes#
A
f
They claimed that non-odorous substitutes were supplanting denatured
alcohol for anti— freeze purposes*
Producers and users,at the hearing, stressed the fact that the
Unrtnl
(kxOJkM^.)
public can buy 100 per cent methyl alcohol without restriction*
A
questioned the necessity of prohibiting the manufacture and sale of
They
|
• f ,'f»
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
August 2, 1934*
Press Service
Ho* 2 - 4 3
The use of wood alcohol as a dénaturant in the formula for completely de
natured alcohol, was authorized today (August 2) by Guy T* Helvering, Commissioner
of Internal Revenue, in a decision approved by the Secretary of the Treasury«
In
accordance with this decision the Alcohol Tax Unit, having immediate supervision
over plant’
s manufacturing completely denatured alcohol, will revise the existing
formula and regulations.
Decision to restore wood alcohol as a dénaturant was reached after a petition,
prepared by sixteen representative manufacturers, distributers and users of com
pletely denatured alcohol, urging its commercial utility as a dénaturant, had been
filed with the Treasury Department, and hearings were conducted.
Business men, in protests against the existing formula, asserted it was not
satisfactory for anti-freeze purposes because of disagreeable odors of dénaturants
used, and that these odors interfered with the utility of this type of industrial
alcohol in manufacturing processes.
They claimed that non-odorous substitutes
were supplanting denatured alcohol for anti-freeze purposes.
Producers and users, at the hearing, stressed the fact that the public can
buy 100 per cent methyl alcohol (wood alcohol) without restriction.
They questioned
the necessity of prohibiting the manufacture and sale of denatured alcohol contain
ing a relatively small per centage of wood alcohol.
They also emphasized the point
that legalization of beverage liquors has virtually removed the danger to the pub
lic, existing in earlier years, growing out of use of denatured alcohol for
beverage purposes,
It was also their contention that wood alcohol, used as a dé
naturant, offers greater protection against diversion of the denatured product,
and thus greater protection of the Governments liquor revenue, than do the dé
naturants now used.
page 2
wood alcohol
Commissioner Helvering, "before reaching a decision, carefully weighed the
facts presented "by the petitioners, "both in their "briefs and arguments presented
at the hearing*
The hearing, "by direction of Commissioner Helvering was conducted
by Harold N* Graves, Acting Deputy Commissioner.
In his report to the Commissioner,
Mr, Graves said:
”1 have given careful consideration to all phases of this question and I am
of the opinion that it would "be advisable to restore wood alcohol as one of the dé
naturants for completely denatured alcohol*
There is no difference of opinion be
tween the trade and the technical division of the Alcohol Tax Unit, with respect
to the efficiency and utility of wood alcohol as a dénaturant*
"The sale of 100 per cent wood alcohol, without restrictions to the general
public, probably does constitute a greater hazard from the point of view of the
consumers of bootleg liquor, than the sale of ethyl alcohol denatured with not
more than 10 per cent wood alcohol, if this is marked with the skull and cross
bones to warn the user that it is deadly poison*
"The use of wood alcohol, as a dénaturant, was discontinued on account of
prohibition, and the Repeal of prohibition would appear to justify its restoration.
Public policy dictated the Departments action during prohibition, and, I believe
that, under present conditions, it would be good policy to resume the use of wood
alcohol as a dénaturant."
Mr. Graves added that, with the Commissioners approval,
a new formula, fully acceptable to the trade interests involved, and which, at the
same time would amply protect the Governments interests, would bo prepared*
Wood alcohol, as a dénaturant in industrial alcohol, was first used after the
passage in 1906 by Congress of the Tax-Free Denatured Alcohol Act.
This authorized
the manufacture and sale of alcohol, tax free to industry, after its dénaturation
with ingredients which rendered it unfit for beverage purposes.
The Act provided
for dénaturation with wood alcohol or other suitable substance!.
This policy was
continued until January 1, 1931, when the formula containing the wood alcohol
dénaturant was revoked.
page 2 -rectifiers
4
The regulations provide that a rectifying plant must he used
f
exclusively for the business of rectifying*
To prevent undue hardship in the
case of a rectifier who may also conduct another business at the plant,such as
manufacture of soft drinks »that cannot be immediately segregated without .difflco
and loss»the rectifier is permitted to continue such business temporarily*
Rectifiers are required to file their formulas and processes*
enables the Government to determine the taxability of the products*
This
Before
spirits ncan be rectified» the District Supervisor of the Alcohol Tax U n it,in the
district where the rectifying plant is located» must first approve the rectifier!
report of spirits to be dumped for rectification*
TJjus, the Government is
assured that all spirits dumped have been taxpaid*
When the spirits are rectified» the report of ¿jjt^e must be approved
by an authorized Government officer» before stamps will be sold by the Collector 1
r
of Int e m a l Revenue*
This erects a new safeguard to prevent stamps being
procured for illicit spirits*
The G 0v e m m e n t officer on duty will not open the
bottling tank until full ta » p a y m e n t has been made on all spirits to be rectified
r
by
The regulations require the rectifier to obtain approval/a duly authorized
Government officer before bottling straight whiskies and other un-rectified spirit
Tyis enables the
such
Government audit of rectifiers records is required. Special accounts
for each rectifier will be kept by the District Supervisor*
T^ese will show aiy
discrepancy between the quantity of rectified spirits produced and the lawful
taxpaid spirits dumped for rectification*
Rectifiers are required to furnish
essential information r e e l i n g to their operations and activities*
i
All barrels 4
and kegs filled by rectifiers are to be serially numbered and marked with the
rectifiers nameguad address, in order that the spirits may be readily identified
&\
and traced to. point of origin*
~o~
Operations of the rectifiers* i&o 'blend liquors in •various forms for the
Basket* are to he subjected to rigid inspection by Government officers assigned^
for special duty at re c t i f y i n g plants.
These revenue protective steps are made m a n d a t o r y b y the regulations!
Government lochs must be placed on rectifiers bottling tanks* lllhe Goveroneii
internal revenue tax
must be paid prior to bottling*
As practically all
recitified spirits are bottled, this requirement «Atifr remove the possibility or
A
output o f ^ e t a x p a i d spirits*'
glass ij^Jges or scales*
Bottling and other tanks must be equipped with j
va« p-copp^r.. ^nar^at 1m a * "flnaaaltur
As a means of facilitating effective Government supervision, rectifying
plants are required to be divided into three departments:
rectifying room, and finished products room.
and activities.
receiving room,
This segregates classes of liçp°^'
Thereby all principal operations,including rectifying,bottling
and shipping are brought under close scrutiny and made matters of record*
I
M i l t
*
DEPARTMENT
*
Washington
Press Service
Eo. 2 - 4 4
FOR RELEASE, M0B2OTG PAPERS,
Friday, August 3, 1954«____
8-2-34
Liq-uor rectifiers are brought fully within the scope of the control system
maintained by the Alcohol Tax Unit, by regulations governing rectification of
spirits and wines, issued today (August 2 ), by Guy T. Helvering, Commissioner
of Internal Kevenue, with the approval of the Secretary of the Treasury.
The
regulations are made effective September 1, 1934.
The regulations represent another important step in the program of the
Secretary of the Treasury to strengthen safeguards for the protection of tne
revenue from liquors at their source, to afford added protection to the public,
and to close every channel through which non-taxpaid liquors moy be marketed.
Operations of the rectifiers, who blond liquors in various forms for the
nwtot, arc to be subjected to rigid inspection by Government officers assigned
for special duty at rectifying plants.
Those revenue protective steps are made mandatory by the regulations:
Government lochs must be placed on rectifiers' bottling tanks.
Government internal reveme tax imist be paid prior to bottling.
As practically
all rectified spirits are bottled, this requirement is expected to remove the
•i
• «4._
possibility of output of non-taxpaid spirits.
Tn 4,4.Ta .{.jm and other tanks must
Bottling and
be equipped with glass gauges or scales.
As a means of facilitating effective Government superyision, rectifying
plants arc required to bo divided into three departments:
rectifying room, and finished products room.
and activities.
receiving room,
This segregates classes of liquors
Thereby all principal operations, including rectifying, bottling
and shipning arc brought under close scrutiny and made matters of record.
page 2 *•
rectifiers
The regulations provide that a rectifying plant mist he used exclusively
for the business of rectifying.
To prevent undue hardship in the case of a
rectifier who may also conduct another business at the plant, such as manu
facture of soft drinks, that cannot be immediately segregated without diffi
culty and loss, the rectifier is permitted to continue such business temporarily.
Hectifiers are required to file their formulas and processes.
the Government to determine the taxability of the products.
This enables
Before spirits can
be rectified, the District Supervisor of the Alcohol Tax Unit, in the district
where the rectifying plant is located, must first approve the rectifiers report
of spirits to be dumpod for rectification.
Tims, the Government is assured that
all spirits dumped have been taxpaid*
When the spirits are rectified, the report of gauge mast he approved by an
authorized Government officer, before stamps will be sold by the Collector of
Internal Revenue,
This erects a new safeguard to prevent stamps being procured
for illicit spirits.
The Government officer on duty will not open the bottling
tank: until full tax payment has been made on all spirits to be rectified.
The
regulations require the rectifier to obtain approval by a duly authorized
Government officer before bottling straight whiskies and other un-rectified
spirits.
Government audit of rectifiers* records is required.
each rectifier will be kept by the District Supervisor.
Special accounts for
These will show any
discrepancy between the quantity of rectified spirits produced and the lawful
taxpaid spirits dumped for rectification.
Rectifiers are required to furnish
essential information relating to their operations and activities.
All barrels
and kegs filled by rectifiers are to be serially numbered and marked with the
rectifier*s name and address, in order that the spirits may be readily identified
and traced to the point of origin.
TREASURY DEPARTMENT
Washington
Press Service
Ho* 2 — 45#
FOR RELEASE, MORHIUG- PAPERS
Monday, August 6, 1934.
The Secretary of the Treasury, on behalf of the Horae Owners.* Loan Corporation,
is today offering to the public not to exceed $150,000,000 of bonds of the Corpora
tion in three series, each for $50,000,000, with maturities of two, three, and four
years, respectively, and is inviting tenders therefor through the federal reserve
banks#
Tenders will be received at the Federal reserve banks and branches thereof
up to 2:00 o 1clock p.m#, Eastern standard time on Wednesday, August 8, 1934, and
the bonds will be sold to the highest bidders#
Tenders will not be received at
the Treasury Department, Washington#
The bonds for which tenders are invited are in three separate series, all
dated August 15, 1934, and bearing interest from that date#
The bonds of Series
C, 1936, will bear interest at the rate of l-l/2 percent per annum and will mature
in two years on August 15, 1936$ the bonds of Series D, 1937, will bear interest
at the rate of 1-3/4 percent per annum and will mature in three years on August
15, 1937$ and the bonds of Series E, 1938, will bear interest at the rate of 2
percent per annum and will mature in four years on August 15, 1938#
They will not.
be subject to call for redemption prior to maturity#
The bonds will be fully and unconditionally guaranteed both as to principal
and interest by the United States, and, as more specifically stated in the circular,
they will be exempt both as to principal and interest from all Federal, State, and
local taxation (except surtaxes, estate, inheritance and gift taxes) now or here
after imposed.
Bearer bonds with interest coupons attached will be issued in denominations of
$100, $500, $1,000, $5,000, $10,000, and $100,000.
The $10,000 and $100,000 de
nominations, however, will not be available for delivery until after September 1,
1934.
The bonds will not be issued in registered form#
Tenders should be made on the printed forms and forwarded in the special
envelopes which will be supplied by the Federal reserve banks#
Each tender should state the particular series desired, the face amount of
bonds applied for, and the price offered which mast he expressed on the basis
of 100 with not more than three decimal places, e. g., 100*125»
he in multiples of $100.
Each tender must
Tenders received at a Federal reserve bank or branch after
2:00 o*clock p,m*, I&stern standard time, Wednesday, August 8, 1934, will be dis
regarded*
Tenders will be accepted without deposit from incorporated banks and trust
companies and from responsible and recognized dealers in investment securities.
Tenders from others must be accompanied in every case by a deposit of 5 percent
of the face amount of bonds bid for, except where the tender is accompanied by
an express guaranty of payment by an incorporated bank or trust company.
If the
tender is accepted, in whole or in part, the deposit will be applied toward payment
for the bonds, and if the tender is rejected the deposit will be returned to the
bidder.
Immediately after the closing hour for the receipt of tenders on August 8,1934,
all tenders received at the Federal reserve banks or branches thereof up to the
closing hour will be openod and public announcement of the acceptable prices will
follow as soon as possible thereafter.
the acceptance or rejection thereof.
Those submitting tenders will be advised of
In considering the acceptance of tenders, the
highest prices offered will be accepted in full down to the amount required, and if
the same price appears in two or more tenders and it is necessary to accept only
part of tho amount offered at such price, the amount accepted at such price will be
prorated in accordance with the respective amounts bid for.
However, tho Secretary
of the Treasury expressly reserves the right to reject any or all tenders or parts
of tenders and to award loss than the amount bid for, and any action he may take
in any such respect or respects shall be final*
Payment for any bonds allotted on accepted tenders must be made or completed
on or before August 15, 1934, in cash or other immediately available funds.
The text of the official circular follows:
HOME OUTERS1 LOAN CORPORATION
l-l/2 Percent
1-3/4 Percent
2
Percent
Bonds
Bonds
Bonds
Series C, 1936
Series D, 1937
Series E, 1938
Due August 15, 1936
Due August 15, 1937
Due August 15, 1938
BATED AND BEARING INTEREST PROM AUGUST 15, 1934;
NOT SUBJECT TO CALL EOR REDEMPTION PRIOR TO MATURITY
Interest payable February 15 and August 15
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO PRINCIPAL AND INTEREST BY
THE UNITED STATES OF AMERICA, EVIDENCED BY THE ENDORSEMENT OF THE SECRETARY OF
THE TREASURY ON EACH BOND,
Exempt "both as to principal and interest, from all Federal, State, and local
taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter
imposed.
1934
Department Circular No, 516
___
TREASURY DEPARTMENT
Office of the Secretary,
Washington, August 6, 1934,
(Public Debt Service)
The Secretary of the Treasury, on behalf of the Home Owners1 Loan Corpora
tion, offers to the public not to exceed $150,000,000 of "bonds of the Home
Owners1 Loan Corporation, in three series of not to exceed $50,000,000 each, and
invites tenders therefor, through the Federal reserve banks.
Description of Bonds
Series C, 1936, for not to exceed $50,000,000,
will be dated August
15, 1934, and will
of 1—1¡2 percent per annum.
They will
The bonds of this series
bear interest
from that
date at
therate
mature August
15, 1936,
and will not be
subject to call for redemption prior to maturity.
Series D, 1937, for not to exceed $50,000,000,
will be dated August
15, 1934, and will
of 1—3/4 percent per annum.
The bonds of this series
bear interest
from that
date at
They will mature August 15, 1937, and will not be
subject to call for redemption prior to maturity.
therate
Series E, 1938, for not to exceed $50,000,000* The 'bonds of this series will
be dated August 15, 1934, and will tear interest from that date at the rate of 2
percent per annum.
They will mature August 15, 1938, and will not be subject to
call for redemption prior to maturity.
Bearer bonds with interest coupons attached will be issued in denominations
of $100, $500, $1,000, $5,000, $10,000, and $100,000.issued in registered form.
The bonds will not be
Provision will be made for the interchange of bonds
of different denominations of the same series, without charge by the Corporation,
•under rules and regulations prescribed by the Corporation.
These bonds are issued under the authority of the Home Owners1 Loan Act of
1933, as amended, which provides that these bonds shall be exempt, both as to
principal and interest, from all taxation (except surtaxes, estate, inheritance,
and gift taxes) now or hereafter imposed by the United States or any District, Ter
ritory, dependency, or possession thereof, or by any State, county, municipality,
or local taxing authority.
The bonds are acceptable at face value in payment of indebtedness due the
Home Owners* Loan Corporation.
They are also acceptable to secure 15—day borrow
ings from the Federal reserve banks, but do not bear the circulation privilege.
Section 4(c) of the Home Owners* Loan Act of 1933, as amended, provides as
follows: 11* * *Such bonds shall be fully and unconditionally guaranteed both as to
interest and principal by the United States, and such guaranty shall be expressed
on the face thereof, and such bonds shall be lawful investments, and may be ac
cepted as security, for all fiduciary, trust, and public funds, the investment or
deposit of which shall be under the authority or control of the United States or
any officer or officers thereof.
In the event that the Corporation shall be un
able to pay upon demand, when due, the principal of, or interest on, such bonds,
the Secretary of the Treasury shall pay to the holder the amount thereof which is
— The denominations of $100, $500, $1,000 and $5,000 will be initially available,
and those of $10,000 and $100,000 will be available after September 1, 1934..
- 3 hereby authorized to ho appropriated out of any moneys in the Treasury not other
wise appropriated, and thereupon to the extent of the amount so paid the Secretary
of the Treasury shall succeed to all the rights of the holders of such bonds.* * *H
Tenders and Allotments
Tenders will he received at the Federal reserve banks and the branches there
of up to 2:00 o1clock,p.m., Eastern standard time, Wednesday, August 8, 1934, and
unless received by that time will be disregarded.
the Treasury Department, Washington.
Tenders will not be received at
Bidders will bo required to specify the
particular series for which each tender is made*
Each tender must be in multiples
of $100, must state the face amount of bonds applied for, and the price offered.
The price offered must be expressed on the basis of 100 with not more than three
decimal places, e. g., 100.125,
Tenders will be received without deposit from incorporated banks and trust
companies and from responsible and recognized dealers in investment securities.
Tenders from others must be accompanied in every case by a deposit of 5 percent
of the face amount of bonds bid for, except where the tender is accompanied by
an express guaranty of payment by an incorporated bank or trust company.
'If the
tender is accepted, in whole or in part, the deposit will be applied toward payment
for the bonds, the balance to be paid as hereinafter provided.
If the tender is
rejected, the deposit will be returned to the bidder.
Tenders must be enclosed in envelopes, securely sealed, addressed to a
Federal reserve bank, or branch, and plainly marked "Tender for bonds of the Home
Owners* Loan Corporation".
The Federal reserve banks will supply printed forma and
special envelopes for submitting tenders.
Immediately after the closing hour for the receipt oi tenders on August 8,
1934, all tenders received at the Federal reserve banks or branches thereof up to
the closing hour will bo opened.
The Secretary of the Treasury will determine the
acceptable prices offered and will moke public announcement thereof as soon as
possible after the opening of tenders.
Those submitting tenders will be advised
by the Federal reserve banks of the acceptance or rejection thereof, and payment
on accepted tenders must he made as hereinafter provided.
In considering the
acceptance of tenders, the highest prices offered will he accepted in full down
to the amount required, and if the same price appears in two or more tenders and
it is necessary to accept only a part of the amount offered at such price, the
amount accepted, at such price will he prorated in accordance with the respective
amounts hid for.
However, the Secretary of the Treasury expressly reserves the
right to reject any or all tenders or parts of tenders, and to award loss than
the amount hid for, and any action he may take in any such respect or respects
shall he final.
Payment
Payment for
any -bonds allotted on accepted tenders must be made or completed
on or before August 15, 1934, In cash or other immediately available funds.
In
every case where payment is not so completed, the 5 poroont payment with applica
tion shall, upon declaration by the Secretary of the Treasury in his discretion,
he forfeited to the Home Owners* Loan Corporation.
General Provisions
Federal reserve hanks, as fiscal agents of the United States, are autxioxized
and requested to receive tenders, to make allotments as directed hy the Secretary
of the Treasury, to issue allotment notices, to receive payment ¿or bonds allotted,
to make delivery of bonds on full-paid allotments, and to perform such other acts
as may he necessary to carry out the provisions of this circular..
Pending delivery
of the definitive bonds, Federal reserve hanks may issue interim receipts.
Tho Secretary of the Treasury may at any time, or from time to time, prescribe
supplemental or amendatory rules and regulations governing the receipt of tender
and tho sale of bonds under this circular, which will he promptly communicated to
the Federal reserve hanks.
HENRI MORGENTHAU, Jr.,
Secretary of the Treasury.
P age 2
i#
J
TREASURY DEPARTMENT
Washington
í
Press Service
No. 2 — 46
FOR IMMEDIATE RELEASE-,
Si
■
ss
a
f August 6, 1934
!
ACTIVITIES OF INVESTIGATORS 1
m
ALCOHOL TAX UNIT , FOR WEEK ENDING JULY 28, 1934.
s
(Corrected statement "based on complete weekly reports
of investigators)
$
i
i
Dist•
Ho.
1
.5
States
Stills
Seized
Capacity
Grals.- of
Spirits
Seized
Gals, of
Mash
Seized
3
1
335
5,977
1,500
500
2
8
1
1
8,200
7
$ 8,672
15
4,131
72,403
3
$34,256
24
2, 359
1,155
1,411
272
21,465
21,500
2
$ 7,923
293
9
4
6
3,514
1,683
42,965
2
$ 8,216
13
Md.
Va.
W. Va.
IT,Car.
S.Car.
D. C.
9
13
7
11
12
3
1,350
2,639
336
3,135
1,020
1,035
287
1,736
93
263
266
481
3,250
11,800
1,510
42,640
7,430
5,900
1
4
2
$
5
4
520
1,740
595
500
300
2,144
24
6
21
11
26
9
TOTAL
55
9,515
3,126
72,530
16
$ 5,799
97
Ga,
Eia,
Ala.
Miss*La,
Texas
27
18
26
17
7
24
3,252
2,700
7,100
2,425
345
2,280
288
217
103
531
1,262
496
22,535
13,320
6,470
7,600
1,435
11,050
4
4
3
4
2
10
$ 4,161
7,166
1,605
3,172
785
3,893
31
11
30
24
11
54
TOTAL
119
18,102
2,897
62,410
27
$20,782
161
400
250
50
195
60
55
2,800
4, 500
900
TOTAL
3
700
359
N. Y*
9
1, 215
5 .
1
g
Pa,
IT,■ J ,
Del,
il
TOTAL
9
4 1
;•J
m
3
=
2
>
14J 3
LI
4
36
9
97
5T
nI i
L
'I
5
34
u|
P
Arrests
360
1
1
1
14
Value of
Property
Seized
$
49
Maine
N. E.
Vt.
Mass*
Conn,
R. I.
1
Autos &
Trucks
Seized
1
5
54
m
===l
i
2
r
Bist,
TTf)
6
1
Gals, of
Spirits
Seized
Gals, of
Mash
Seizéd
Stills
Seized
Capacity
Mich.
Ohio
Ky.
Term*
3
8
10
4
125
520
1,505
775
21
1,305
97
937
1,530
15,125
6,395
2,700
TOTAL
25
3,025
2,360
25, 750
Wise.
in#
Ind.
6
4
4
1,315
215
295
595
159
120
TOTAL
14
1,825
874
States
Aaitos &
Trucks
Seized
Value of
property
Seized
Arrests
4
382
2, 230
1,725
760
4
9
16
12
6
$ 5,097
41
10,120
1,637
900
2
$ 2,825
1,180
1,570
8
5
2
12,657
2
$ 5,575
15
1
2
2
$
225
1,025
685
190
1
8
6
3
7
1,730
5
$ 2,125
25
$ 1,955
1,450
870
1,710
8
24
18
13
$ 5,985
63
$
2
\
7
8
!
Iß
9
10
N. D.
S. D.
Minn.
Neb.
Iowa
2
4
1
55
285
125
1
676
151
61
124
TOTAL
7
465
1,013
Kan.
Okla.
Mo.
Ark.
1
9
5
14
55
367
292
118
70
5,745
2,170
7,200
2
6
1
2
TOTAL
29
847
15,115
11
Wyo.
Utah
Colo.
Arix,
N. Mex,
TOTAL
11
705
760
p,
810
915
1
2
1
4
2
$ 1,300
12
466
159
5, 525
1
8
390
138
403
13
856
299
5,928
$
7
450
*
850
5
Cali \
Nev. f
8
145
680
$
860
14
TOTAL
8
145
680
$
860
14
Wash.
Ore.
Mont. )
Idaho J
1
2
34
100
4
10
$
750
260
35
3
6
2
35
90
20
19
4
TOTAL
5
169
104
770
2
314
13
1 & GRAND TOTAL
I
293
40,146
17, 838
321,138
83
$98,981
493
I
f
12
è
1
1
$
TREASURY DEPARTMENT
Washington
August 6, 1934,
me mo r a n d um e o r t h e pr es s
RECEIPTS OE SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended Aug, 3, 1934:
San Francisco •••••••..<
Denver •••••••»••«.... .
Total for the week
3,239.09 fine ounces
115,068.00 fine ounces
118,307.09 11
"
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended Aug. 3, 1934:
______ Imports______ s,
e°?gjggZ-------- New Domestic
9,794.37
Philadelphia. •••• $
15,281,000.00
New York.
306,101.60
San Francisco....
14,409.00
Denver.,•...... .
13,517.22
New Orleans.... ••
S eat tle..........
Total....... $15,624,822.19
$
141.37
*■'.....
695,355.28
962,985.00
262.77
245.745.94
$ 1,904,490.36
$
312,804.55
1,180,000.00
195,277.06
26,511.00
43,299.37
22,787,35
$ 1,780,679.33
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFIoj.:
(Under Secretary’s Order of December 28, 1933)
Sold Coin_______ Gold Certificates.
Received "by Federal Reserve Banks:
$
187,992.76
28,534,852.23
$28,722,844.99
$
733,010.00
64,311,310.00
$65,044,320.00
Week ended Aug. 1
Received previously ••••••..«»
$
,•frr249,994.00
$
Total to Aug. 1 ...... .
$
249,994.00
$ 1,663,000.00
Week ended Aug. 1 •••••«..•
Received previously........
Total to Aug. 1 .... .
Received by Treasurer’s Office:
Note:
7,100.00
1,655,900.00
Gold bars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported.
msàmm rmkimmn
wàsmmwm
mm
wmMàm, m m xm m >m s,
wmm
Tuesday, August T, 1954.
serri«#
Secretar? of th» Treasary Morgenthan announced last
evBning that ti» tender» fior #75,000,000, or thereabouts,
of 182-day Treesiiry bill», dated Axtgaet 8, 1834, «ad »at«riag February 6, 1858, «hi eh vor» of farad oa i » p « t 3, «oro
opeaed ai thè Federai ra serve baaks oa Angust 8, 1354«
The total eacswt applled
#75,327,000 «a» aeeepted»
fùv m m
#108,453,000, of which
£he aeeepted bidè rangetì in prie#
froa 89«843, equivalent te a rate of atent 0«07 pereent per
«natta, to 98.950, equlralent to a rate of about 0.14 pereent
per «natta, on « basic discount basi».
Oaly part of thè amoant
bid far «t thè lattar pria« «ae aeeepted.
Sfce ayerage prie#
«f Treasury bìlia to be iaeeed la 88*842 and thè arerage rate
is about 0*13 pereent per asnitti on a bank discount basi».
TREASURY DEPARTMENT
Washingt on
FOE RELEASE, MORNING PAPERS,
Tuesday, August 7, 193,4.
fres® Se™ i0e
°*
~
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury hills, dated August 8, 1934, and maturing February 6,
1935, which were offered on August 3, were opened at the Federal
reserve "banks on August 6, 1934«
The total amount applied for was $108,633,000, of which
$75,327,000 was accepted.
The accepted "bids ranged in price
from 99.965, equivalent to a rate of about 0.07 percent per
annum, to 99.930, equivalent to a rate of about 0.14 percent
per annum, on a bank discount basis.
Only part of the amount
bid for at the latter price was accepted.
The average price
of Treasury bills to be issued is 99.942 and the average rate
is about 0.12 percent per annum on a bank discount basis.
of the Revenue let of 1926) the text of which is as follows*
**S*EC* 701* On Slid after July 1 , 1926) there shell be
levied, collected, and paid annually, in Xian of the tax imposed
L
by section 701 of the Revalue Act of 1924, a special excise tax of
f1,000, in the case of every person carrying on the business of a
brewer, distiller, wholesale liquor dealer, retail liquor dealer,
wholesale dealer in melt liquor, retail dealer in salt liquor, or
manufacturer of stills, as defined in section 6244 as amended and
section S£47 of the Revised. Statute«1
,, in any State, Territory, or
District of the United States contrary to the laws of such State,
Territory, or District, or in any place therein in which carrying
on such business is prohibited by iocal or eamicipal law* The
payment of the tax imposed fey this section shall not be held to
exempt any person from any penalty or punishment provided for by
the laws, ©f any State, Territory, or District, for carrying on
each business in such State, Territory, or District, or in &ay
manner to authorise the commencement or ©ontinuiinee of such '
1
business contrary to the laws of such State, Territory, or District,
or in places prohibited fey local or municipal law.
•Any person who carries on m y business or occupation
for which & special tax is imposed by this section, without
having paid such special tax, shall, besides being liable for
the payment of such special tax, b® subject to a penalty of not
more than $1,000 or to imprisonment for not more than one year,
or both.*
7
- 4 ~
mit their accounts on voucher forms which may he obtained by writing
to the Treasurer of the United States, Washington, D. C.
Section ò.
Licenses.— The Secretary of the Treasury, sub
ject to such regulations as lie may prescribe, actihg directly or
through such agency or agencies as he may designate, shall issue
licenses authorizing the withholding 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 or in the
business of processing silver or funishing silver therefor;
(b)
has been imported for reexport; or
(c)
is required to fulfill an obligation to-
deliver silver in such amount to a 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 such silver.
The Secretary of the Treasury may, with the approval of the
President, issue licenses autiiorizing the withholding of silver for
purposes deemed to be in the public interest and not inconsistent with
the purposes of the Silver Purchase het of 1934 and of this Order.
Section 7.
Deliveries in fulfillment of obligations or
to licensees«— Ho person required to. deliver silver owned by him or in
his possession or control shall be deemed to have failed to connly with
the provisions of this Order, if such silver is delivered in fulfillment
- 3 from the effective date hereof, or 15 days after the time when it
'ceases to fall within such categories, whichever date is later.
Any
person acquiring ownership, possession, or control of silver required
to he delivered under this Order after seventy-five days from the
effective date hereof, shall deliver such silver within 15 days of
such acquisition.
Section 4.
Amount returnable for silver.— -The silver herein
required to he delivered shall he coined into standard silver dollars,
or otherwise added to the monetary stocks of the United States in accord
ance with the Proclamation, hearing the same date as tins Order, relating
to the coinage of silver, and there shall he returned therefor in standard
silver dollars, silver certificates, or any other coin or currency of
the Unitea States, the monetary value of the silver so delivered (that is,
s>1.2929f‘ a fine troy, ounce), less a deduction of 61 8/25 per cent thereof
for seigniorage, brassage, coinage and other mint charges, as provided
in such Proclamation; that is, the amount returnable'for the silver de
livered in accordance herewith shall be an amount equal to 50/U a fine
troy ounce, which amount is not less than the fair value, at the time
of this Order, of the silver required to be delivered hereunder as de
termined by the market price over a reasonable period terminating at the
time of this Order.
Section 5.
Reimbursement of costs.— The Secretary of the
Treasury shall pay all necessary costs, actually incurred., of the trans
portation of such silver and standard silver dollars, silver certificates,
and otner coin or currency of the United States, including the cost of
insurance, protection, and such other incidental costs as may be reason
ably necessary.
Persons desiring reimbursement of such costs shall sub-
- 2 which shall not have been deposited with a United States Mint under the
Proclamation of December 21, 1933 shall, if processed to a fineness
greater than ,8 within seventy-five days from the effective date of
this Order, be delivered in accordance with this Order, not later than
ninety days from the effective date
hereof, or if processed to a fine
ness greater than .8 after seventy-five days from the effective date of
this Order, be delivered within 15 days thereafter in accordance with
this Order;
d.
Silver held for industrial, professional, or artistic
use and urmelted scrap silver and silver sweepings in an amount not
exceeding in the aggregate five hundred fine troy ounces belonging to
any one person;
e.
Silver owned on the effective date
hereof by a, recognised
foreign government, foreign central bank, or the Bank for International
Settlements;
f.
Silver contained in articles fabricated and held in good
faith for a specific and customary use and not for their value as silver
bullion; or
g*
Silver held under a license issued in accordance with
Section 6 hereof.
Section 3,
Time and place of delivery.— 1
TUp. silver required
to be delivered Hereunder shall be delivered not later than ninety days
from the effective date hereof to the United States Mint nearest to the
place where the silver is situated immediately prior to delivery; provide
that such silver temporarily falling within the exempt categories
enumerated in Section 3, shall be delivered at the end of ninet'' days
EXECUTIVE ORDER
Requiring the Delivery of Silver to the United
States Mints
3y virtue of the authority vested in me by the Silver Purchase Act of 1934 and of all other authority vested in me, I, ERAUKLDT
D. ROOSEVELT, PRESIDENT of the URTTED STATES of AMERICA, do hereby re
quire the delivery of all silver situated in the continental United
States on the effective date hereof, by any and all persons owning,
possessing, or controlling any such silver, and d.o hereby require any
and all persons owning, possessing, or controlling any such silver to
deliver the same in the manner, upon the conditions and subject to the
exceptions herein contained, such action being in my judgment necessary
to effectuate the policy of the Silver Purchase Act of 1934.
Section 2.. Silver required to be delivered.— There shall be
aelivered in accordance with the terms of this Order all silver situate,
in the continental United States on the effective date hereof, except
silver falling within any of the following categories so long as it con
tinues to fall thereunder:
a.
Silver coins, whether foreign or domestic;
b.
Silver of a fineness of .8 or less, which has not entered
into industrial, commercial, professional, artistic, or monetary use;
c.
posits m
Silver mined, after December 21, 1933, from natural de
the United States or any place subject to the jurisdiction
thereof; provided, however, that so much of such silver so mined in the
continental United States on or before the effective date of this Order
5
States or any place subject to the jurisdiction thereof; provided,
however, that the Director of the Mint shall, at the option of the
tenderer of such pilver, deliver silver certificates in lie*» of the
standard silver dollars to which the tenderer of such silver for
coinage would be entitled and in an amount, in-dollars >equal to the
coined, standard silver dollars that tho tenderer of such.silver' f o r - _
coinage would receive in standard-silver'dollars,
The Secretaryof the Treasury is. authorized to prescriberegulations to. carry out. the. purposes of this Proclamation*
*
ilotice is hereby given’that I reserve' the -right ay virtue''-of
the authority vested in me to.revoke or modify this Proclamation as. the.,
interest of the United States-may seem, to retpiiro.
This Proclamation shall..hear'the date of v -and. becomes -effective
on., the~day on which the Secretary or Acting Secretary of State •counter-signs the same , affixes thereto •thciSoal of the. United' Statesand-do-- /.t
posits-this Pr oclamation.,-so countersigned, and sealed in. the- Office --of
the. Secretary of State, as a .part ofythe archives, of the 'Uation.
Hi WITNESS-WrlhilEOF' I hav&-'hereunto, set my hand* ••
i
FRANKLIN I>* ROOSEVELT
By the President; and countorsignod.and
#
sealed with tho Seal of the United States,
i
by direction of tho President, this 9th day
of ivuciu.st ~
» in the year of, our Lorl ninetoen
...hundred and thirty-four, and of the Independence of
tho United States of America the. one hundred and; fifty-nin'..t
s
fe .• ..
'*.
.CORDELL HULL
*
"Secretary of State*
‘
. -
-
4
-
and by virtue of all other authority in no vested;
x, mmxrdxrBOOSEra^
of
AMERICA, do proclajj^^u^-drirozit'' that each United States nint shall
receive for coinage or for addition to the monetary stocks of the
United States, as hereinafter determined, any silver which such mint,
subject to regulations prescribed hereunder by the Secretary of the
Treasury, is satisfied was situated on the effective date hereof in tile
continental United States, including the Territory of Alaska,
The silver so delivered shall be added to tho monetary
stocks of the United States and shall bo coined from tine to tine
into standard silver dollars in such amounts as one required to carry
out the provisions of this Proclamation and to provide for the re
demption of silver, certificates;
and there shall be returned therefor
in standard silver dollars, silver certificates, or any other coin or
currency of tho United States, tho monetary value of the silver so de
livered (that is, $1.2929/ a fine troy ounce), loss a deduction of
61 8/25 per cont thereof for seigniorage, orassage, coinage, and other
nint charges, such deduction having been determined by the Secretary of
the Treasury with my approval.
The provisions hereof are supplemental to tho provisions of
the Proclamation of the 21st day of December, nineteen hundred and
thirty—throe, and the United States coinage mints shall continue to
/ /!
receive for coinage in accordance With the provisions of such Proclamhtior
silver which such mint, subject to regulations prescribed thereunder by
the Secretary of the Treasury, is satisfied has boon mined- subsequently
to the date of such Broclamation, from natural deposits in the United
3
such action is necessary to effectuate the policy of this
Act, he nay hy Executive order require the delivery to
the United States ;.ints of any or all silver by whomever
owned or possessed*
The silver so delivered shall be
coined into Standard silver dollars or otherwise added
to the nonetary stocks of the United States as the
President nay determine; and there shall bo returned
therefor in standard silver dollars, or any other coin .
or currency of the United States, the monetary value of
the Silver so delivered less such deductions for s.oigniorago, brassage, coinage, and other mint charges as
the Secretary of the Treasury with the approval of the
/ President shall have determined:
Provided. That in no
case shall the value of tho amount returned therefor
bo less than tho fair value at the tine of such order
of the silver required to be delivered $s such value
is determined by tho market price over a reasonable
period terminating at the time of such order* *****
NOW, THEREFORE, finding it necessary, in my judgment, to
effectuate tho policy of tho Silver Purchase Act of 1934, to assist in
increasing and stabilizing domestic prices, to protoct our foreign
commerce against the adverse iffect of depreciated foreign currencies,
and to promote tho objectives of the Proclamation of tho 21st day of
December, nineteen hundred and thirty-three, relating to tho coinage
of silver; by virtue of the power in mo vested by the Acts of Congress
above cited, and other legislation designated for national recovery,
*
2
WH2REAS, tho Silver Purchase Act of 1934, approved
June 19, 1934, provided in Sections 2, 5, and 7, in part,as follows:
»Sec. 2.
It is hereby declared to be the policy
of the United States that tho proportion of silver to
gold in the nonetary stocks of the United States should
be increased, with the ultimate objective of having and
maintaining, one fourth of the nonotary value of such
stocks in silver.”
“See. S.
The Secretary of tho Treasury is author
ized and directed to issue silver certificates in sucZi
denominations as ho nay fron tine to tine prescribe in
a face amount not less, than the cost of all silver pur
chased under the authority of section 3, and such certifi
cates shall be placed in actual circulation.
There shall
be maintained in the Treasury as security for all silver
certificates heretofore or hereafter issued and at the
tine outstanding an amount of silver in bullion and
standard silver dollars of a;,monetary value equal to the
fa.ee amount of such silver certificates.
All silver cer
tificates heretofore or "'heroaft or issued shall-bo legal
tender for all debts, public and private, public charges,
taxes, duties, and dues, and shall bo redeemable on demand
at the Treasury of tho United States in standard silver
dollars; and tho*Secretary of tho Treasury is authorized
to coin standard silver dollars.for such redemption*”
“Sec. 7.
Whenever in tho judgment of the President
BY TE3 IBBSOTB® OP THHi ÍJHITED STATES OP AMERICA
A PROCLiuvíATIOil
WKER3AS, by Paragraph (2) of Suction 43, Title III, of tho
Act of Congresst approved May 12, 1933 (Public Ho. 10), as amended by
tho Gold Reserve Act of 1934, the President is authorized “By produ
c tion to fix the woight of the gold dollar in grains nine tenths fine
and also to fix the weight of the silver dollar in grains nine tenths
fine at a'definite fixed ratio in relation to the gold dollar at such
amounts as ho finds necessary from his Investigation to stabilize
domestic prices or to protect the foreign commerce against the adverse
effect of depreciated foreign currencies, and to provide for the un
limited coinage of such gold and silver at the ratio so fined, *** «;
and “The President, .in addition to theAuthority to provide for the
unlimited coinage of silver at the ratio so/fixed, under such terns
and conditions as he nay prescribe, is further authorized to cause to
bo issued and delivered to the tenderer pf silver for.coinage, silver
certificates in lieu of the standard silver dollars to jfeich the-tender
er would bo entitled and in .an‘ai.¿aunt /In dollars equal to the number of
coined standard silver dollars that ¿he tenderer of such silver for
coinage would receive in standard tfilvor dollars'5.; and “The President
//
is further authorized to issue siIvor certificates in such denoiAnations
as he nay prescribe against any silver bullion, siIvor, or standard
silver dollars in tho Treasury not then held for redemption of any
outstanding silver certificates, and to coin standard silver dollars
or subsidiary currency for the redemption of such silver certificates“;
ana
Tho President today issued a Proclamation and an
Executive Order, which together provide for the "national
ization» of silver pursuant to the provisions of Section 7
of the Silver Purchase Act of 1934*
/
The Proclamation authorizes Aho mints to receive
any and all silver situated in the United States on August 9,
/
1934. The mints are directed to deduct as seigniorage, etc.,
61 8/25$ of the silver fo received and to return to the de.
1
/
positcr in standard silver
dollars,
silver certificates or
j
I
. ,
;
:
-
other coin or currency yfcf the United States an amount equal
to the monetary valued of the balance; that is, the mints
will return for oadl? fine tr ;y ounce of silver so received
/ a n amount equal to 50*01 cents a fine troy ounce.
/
:
The Executive Order requires that all silver sit
uated in the
p h iic d
States on August 9, 1934 be delivered to
the mints within ninety days.
e x c e p te d
fro:; this retirement.
Certain classes of silver are
Ample provision is made for
licenses to cover silver needed for industrial uses and to
fulfill outstanding obligations to deliver.silver,
foreign
and domestic silver coins, silver ore, silver owned by foreign
governments and foreign, central banks, and silver in fabricated
articles do-not have..to-he~.turneA' in under the Executive Order
i^Euei today.
Pomostxc silver mined since December 21, 1933
igy still be delivered to the mints under the Proclamation
jf .that date.
/
/
THEA.SUBY DHP.4JITMMT
Washington
FOR I S S I A T E RELEASE,
Atwsmt 8, IS84
Press Service
Ho. 2 - 5 1
The Secretary of the Treasury today made the following
aanounc enent;
Hereafter consular invoices will he required for all
shipments of silver to the United States exceeding one hundred
dollars in value.
Exceptions are made for silver already in
transit, silver imported into the United States for reexport,
and crude silver
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
August 8, 1934
Press Service
^ '
The Secretary of the Treasury today made the following
announcements
Hereafter consular invoices will be required for all
shipments of silver to the United States exceeding one hundred
dollars in value.
Exceptions are made for silver already in
transit, silver imported into the United States for reexport,
and crude silver.
INVOICING-SILVER
Consular invoices required for all importations of silver, with
certain exceptions*
Office of
TREASURY DEPARTMENT
the Commissioner of Customs,
Washington, D* C.
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED:
Effective as to importations on and after August 14, 1954,
consular invoices will be required for all importations of silver
exceeding $100 in value; Provided, however, that consular invoices
will not be required for (a) silver which is to remain in Customs
custody pending reexport and (b) silver imported in its natural
(crude) state, covered by the provisions of Article P94 (b)(ll)(a)
of the Customs Regulations of 1951 relating to crude minerals*
(Signed)
Frank Dow
Acting Commissioner of Customs
Approved:
August 8, 1954
(Signed) H* Morgenthau, Jr*
Secretary of the Treasury*
COPTtkk
TREASURY DEPARTMENT
Washington
EOR RELEASE, MOÎtHITTiS PAPERS,
Pridry, August 10, 1954,
8-9-34
Press Service
^°* 2 - 5 0
Poliowing the press announcement of August 2, 1934, the
Bureau of Internal Revenue has Been working on a Treasury
Decision to authorize the use of wood alcohol as a dénaturant
in the formula for completely denatured alcohol.
It was announced today hy the Secretary of the Treasury
that no such Treasury Decision would "be issued at this time
and that the whole matter has "been postponed indefinitely.
Following the press announcement of August
2, 1934, the Bureau of Internal Revenue has been working
on a Treasury Decision to authorize the use of wood alcohol
as a dénaturant in the formula for completely denatured
alcoholIt was announced today by the Secretary of the
Treasury that no such Treasury Decision would be issued
at this time and that the whole matter has been postponed
indefinitely
t r e a s u r y de pa r t m e nt
Washington
FOR IMMEDIATE RELEASE,
August 8, 1934*
Press Service
Eo* 2 - 4 9
Secretary Morgenthau announced today that there will he no
undue delay in the awarding of the contract for the Federal
Building at Mobile.
The plans have been revised to keep the
cost of the building within the amount allotted and new
specifications were issued on August 7th with bids to be opened
in Washington on August 28th.
~ 3 ~
The provision imposing the special excise tax is section 701 of the
Revenue Act of 1928, the text of which is as follows:
"SEC. 701. On and after July 1, 1926, there shall "be levied,
collected, and paid annually, in lieu of the tax imposed hy section
701 of the Revenue Act of 1924, a special excise tax of $1,000, in
the case of every person carrying on the "business of a "brewer, dis~
tiller, wholesale liquor dealer, retail liquor dealer, wholesale
dealer in m l t liquor, retail dealer in malt liquor, or manufacturer
of stills, as defined in section 3244 as amended and section 3247 of
the Revised Statutes, in any State, Territory, or District of the
United States contrary to the laws of such State, Territory, or
District, or in any place therein in which carrying on such "business
is prohibited "by local or municipal law. The payment of the tax im
posed by this section shall not bo hold to exempt any person from
any penalty or punishment provided for by the laws of any State,
Territory, or District, for carrying on such business in such State,
Territory, or District, or in any manner to authorize the commencement
or continuance of such business contrary to the laws of such State,
Territory, or District, or in places prohibited by local or municipal
law.
‘'Any person who carries on any business or occupation for which
a special tax is imposed ty this section, without having paid such
special tax, shall, besides being liable for the payment of such
special tax, be subject to a penalty of not more than $1,000 or to
imprisonment for not more than one year, or both."
I
- 2 ~
The special annual excise tax of $1,000 is imposed by Federal law on all
persons carrying on the business of wholesale or retail liquor dealers, distillers, brewers, or manufacturers of stills, in violation of state law*
i
This
tax must be paid to the Federal government by all persons liable, in addition
to all other Federal occupational and excise taxes imposed by law.
Failure
!
to pay subjects the person carrying on any business or occupation for which the
tax is imposed to liability to prosecution, the penalty fixed by law for
violation being, in addition to payment of the tax, a penalty of $1,000, im
prisonment for not more than one year, or both.
Furthermore, those who fail
to observe this provision of law may become liable to the payment of the 25$
penalty imposed by section 3175 of the Revised Statutes, for failing to filo
proper tax returns.
f
While the most frequent applications of this tax will be in those juris
dictions where the manufacture and sale of intoxicants for beverage purposes
is forbidden, it also applies to states where manufacture or sale is permitted f
under restrictions or regulations to the extent that any business is carried
on in violation of such regulations.
Following is a list of so-called dry
IMr
Alabama
Maine
South Dakota
Arkansas
Mississippi
Tennessee
Florida
Nebraska
Texas
Georgia
North Carolina
Utah
Idaho
North Dakota
West Virginia
Kansas
Oklahoma
Wyoming
Kentucky
South Carolina
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORÏOTG- PAPERS, ,v
Friday, August 10, 1934.
"
8-9-34
Press Service
Ho. 2 - 4 8
The Collectors of Internal Revenue have no option under the law except
to collect all taxes relating to liquor whether in dry or wet territory, it
was announced hy Secretary of the Treasury Morgenthau today.
This statement was made in answer to inquiries concerning the following
taxes:
Liquor Stamp taxes,
Occupational tax on liquor businesses, and
Special annual excise tax of $1,000 which is
imposed on those violating state or municipal
liquor laws.
_ „
Since the records of all Federal Tax Collections may he examined hy local
law enforcement agencies, the collection of theso taxes, it was pointed out,
can he an aid of the enforcement of the local liquor laws hy State and Municipal
law officers.
Receipts given for the payment of any of these taxes, and the sale of tax
stamps, give,no license or permission to carry on any business in violation
of local law.
Payment of the taxes does not exempt the taxpayer from any
penalty or punishment provided for hy the law of the state, nor does, it author
ize the taxpayer to carry on business contrary to state or local law.
Taxes
due from liquor dealers, distillers, and brewers, must he paid,to the Federal
government, and failure to do so constitutes a Federal offense.
The fact that
the occupation is illegal under state law is no defense to a prosecution for
failure to pay the Federal taxes; hut payment of the taxes is no defense in a
proceeding against the taxpayer for violation of state law.
V\j& , X —
The C ollectors o f Internal Revenue have no option under the law
except to c o lle c t a l l taxes re la tin g to liquor whether in dry or wet
territory, i t was announced by Secretary of the Treasury Morgenthau today.
This statement was made in answer to in q u iries concerning the follow
ing taxes*
Liquor Stamp ta x e s,
Occupational ta x on liqu or b u sin esses, and
Sp ecial annual excise tax o f $1,000 which i s
imposed on those v io latin g sta te or municipal
liq u or laws.
Since the records o f a l l Federal Tax C ollections may be examined by
local law enforcement agen cies, the co llectio n of these ta x e s, i t was pointed
out, can be an aid of the enforcement of the lo c a l liq u or laws ty S tate and
Municipal law o ffic e r s .
Receipts given fo r the payment of any o f these ta x e s, and the sa le o f
tax stamps, give no lic e n se or permission to carry on any business in v io latio n
of lo c a l law.
Payment o f the taxes does not exempt the taxpayer from any
penalty or punishment provided fo r by the law of the s t a t e , nor does i t author
ize the taxpayer to carry on business contrary to sta te or lo c a l law.
Taxes
due from liq u o r d e ale rs, d i s t i l l e r s , and brewers, must be paid to the Federal
government, and fa ilu re to do so co n stitu tes a Federal offen se.
[
The fa c t
that the occupation i s i l l e g a l under sta te law I s no defense to a prosecution
for fa ilu r e to oav the Federal tax es; but payment of the taxes i s no defense
in a proceeding again st the taxpayer(J^ v io latio n o f s ta te law.
The sp e c ia l annual excise tax o f $1,000 i s imposed by Federal law on
all persons carrying on the business of wholesale or r e t a i l liquor d e a le rs,
Ç
-
2-
distillers, brewers, or manufacturers of stills, in violation of
state law.
This tax must be paid to the Federal government by all
persons liable, in addition to all other Federal occupational and excise
taxes imposed by law*
Failure to pay subjects the person carrying on any
business or occupation for which the tax is imposed to liability(fo^j “(js
prosecution, the penalty fixed by law for violation being, in addition
to payment of the tax, a penalty of #1,000, imprisonment for not more
than one year, or both.
Furthermore, those who fail to observe this
provision of law may become liable to the payment of the 25% penalty
imposed by section 5176 of the Revised Statutes, for failing to file
proper tax returns*
TThile the most frequent applications of this tax will be -paidr in
those jurisdictions where the manufacture and sale of intoxicants for
beverage purposes is forbidden, it also applies to states where manu
facture or sale is permitted under restrictions or regulations to the
extent that any business is carried on in violation of such regulations*
Following is a list of so-called dry states*
Alabama
Maine
South Dakota
Arkansas
Mississippi
Tennessee
Florida
Nebraska
Texas
Georgia
North Carolina
Utah
Idaho
North Dakota
West Virginia
Kansas
Oklahoma
Wyoming
Kentucky
South Carolina
of an obligation incurred, or'assumed by such person on or before the
effective date of this Order or is delivered to a person licensed to
acquire and withhold silver in such an amount under Section 6,
Section 8.
Definitions.— As used in this Order the term
person’1 means an individual, partnership, association, or corporation
Txie term " continencal 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:
United
United
United
United
United
United
States
States
States
States
States
States
Section 9.
Mint,
Assay
Mint,
Mint,
Assay
Mint,
Philadelphia, Pennsylvania
Office, Hew York, Hew York
Denver, Colorado
San Prancisco, California
Office, Seattle, Washington
Hew Orleans, Louisiana,
Penalties and Forfeitures.— All persons are
hereby informed of the following provisions of Section 7 of the Silver
Purcnase Act of 1934 with respect to penalties and forfeitures:
” * * * Any silver withheld in violation of any Executive
order issued under this section or of any regulations
issued pursuant thereto shall be forfeited to the United
Scales, and may be seized and condemned by like proceed
ings 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
failing to comply with the provisions of any such
Executive order or regulation 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 hear the date of, and "becomes effective on,
the day on which the Secretary or Acting Secretary of State counter
signs and deposits this Order so countersigned in the Office of the
Secretary of State, as a part of the archives of the hat ion*
This order may "be modified or revoked at any time.
PRANK! Ih D. ROuSEVELT
Countersigned, "by direction of
the President, this 9th day of
August, 1934.
CORDELL HULL
Secretary of State
ttM£! l « Ä f
f
m mtexun r im a s » ,
Tfeursday, August
9,
*****
......
1934*
mme*
Sacretary e f the Treae&ry Morgeathau today announced the re e e lt ©f the öfter«
è
|iy
Treasury cm Moaday of not to ©xceöd $150,000,000 of bond« of the Rone
Cimerò* Loaa Corporation in tbree «eri©», of not laora tbaa $50,000,000 ©neh, aatnr* |
iaa in two, three and fror year», tender* for wtiicfc wer« reeeived at thè Federal
re serre bank© up t© S © ’clock p# ai», yeeterday, Aaguet 0»
Tenders aggreg&ting $233,126,600 wäre reeeieed for the tbree «arles, ©f which
testes WBOunting to *127,111,100 «an aocepted. In aeeordanee *1» the right «MrT>¿ to reiset any tendera, eil thoM tolo* 99. for tho threo and tour year toni«
«ore rejeoted as bolse unaatisfaotory in prie«, with the reault that allotwmta fi»
theoo too «orles «ore belo« tho «tonata offered. In additi«® to aocepted MA» thè
Treasury «ili purchase far the benefit of ito inrestaent fonde *8,000,000 of the «a«
year and #14 ,000,000 ©f ih© fonr year bende,
$
The detail* of ©aeh «eri** felle*:
Sari*» C. 1-1/2 pareen to 1936,
Th* total aaonat ©f Seri©* 0 bond» applied far
omo *124,492,500, of whlOh *49,734,000
d o n to 99,411,
mi
aocepted at prie«« rangln« f r « 101.WO ,
Only part of thè aaount tendored at the latter prie« «a» aeeepte*.
Tba arerase prioe of dio hondo of thio aorioo to ho iooood io 100.S77, and base*
on thio prloo tee yield to »ta r i t y , August 15, 193«, io atout 1.15 pereant.
Sarlaa D. 1-3/4 peroeat. 1957.
m*
thè total aaount of Serios B tondo appliod M
*48,177,000, of tolto *41,543,000 oaa aeooptod at priooa ranging
dona to 99.
trm
101.1»
The a r e n g o prie« of the tondo of thio serles to to lssuod io 99.131, |
and basad on thia priee thè yield to aaturity, Angnst 16, 1937, io atout 1.77 per*
a.,u. ier 8
uereent. 1938.
Tha total awrant of Series
E
tonda applied for
«*•
*«0,487,100, of tolto *33,832,100 «as aeeepte« at prieee ranging fra» 101.085 do,
to 99.
Tha a r e n g o prie« of the tonda of thio serie« to to ieoued in 99.9«2, « *
tosto on thi. prie« thè yield to -tn r i t y , August 15. 1938, 1. atout 2.01
TREASURY DEPARTMENT
Washington
ft
Press Service
No* 2 ** 52
yOR IMMEDIATE RELEASE»
Thursday, August 9, 1934.
W
Secretary of the Treasury Morgenthau today announced the result of the offerlng hy the Treasury on Monday of not to exceed $150,000,000 of bonds of the Home
Oroers- Loan Corporation in three series, of not more than $50,000,000 each, matur
ing in two, three and four years, tenders for which were received at the Federal
reserve ‘banks up to 2:00 o’clock p. m., yesterday, August 8.
Tenders aggregating $233,126,600 were received for the three series, of which
tenders amounting to $127,111,100 were accepted.
In accordance with the right re
served to reject a ^ tenders, all those below 99. for the three and four year bonds
were rejected as being unsatisfactory in price, with the result that allotments for
these two series were below the amounts offered.
D
In addition to accepted bids the
Treasury will purchase for the benefit of its investment funds $8,000,000 of the
three year and $14,000,000 of the four year bonds.
The details of each series follows
RSHS, n. 1-1/3 percent, 1936.
The total amount of Series C bonds applied for
was $124,462,500, of which $49,736,000 was accepted at prices ranging from 101.590
down to 100,411.
Only part of the amount tendered at the latter price was accepted.
The average price of the bonis of this series to be issued is 100.677, and based
on this price tire yield to maturity, Au^st 15, 1936, is about 1.15 percent.
Series p, 1-3/4 percent, 1937.
The total amount of Series D bonds applied for
was $48,177,000, of which $41,843,000 was accepted at prices ranging from 101.130
down to 99.
The average price of the bonds of this series to be issued is 99.931,
and based on this price the yield to maturity, August 15,1937,is about 1.
Series E. 2 percent, 1938.
P
The total amount of Series E bonds applied for was
$60,487,100, of which $35,532,100 was accepted at prices ranging from 101.035 down
to 99.
The average price of the bonds of this series to be issued is 99.962, and
based on this price the yield to maturity, August 15, 1938, is about 2.01 percent.
1/
■»»<?
In answer to in q u iries concerning the e ffe c ts
of ^n ationalization ” of s ilv e r , the Secretary of the
Treasury today stated th at there seem to be av ailab le,
fo r a l l legitim ate in d u str ia l, p ro fessio n al, and a r t i s t i c
uses, ample supplies of s ilv e r ^ uI I wI
hl
fo r such uses and
not fa llin g within t n ^ l S v e r which must be turned in
to the Government under the Executive Order issued today.
He added, however, th a t, should there be any shortage of
silv e r fo r these uses and a ^ r w m m m j^ rx c e s, the Goveroment would immediatelv mabe av ailab le ample supplies of
silv e r a t current p ric e s.
TR3A3URI DEPARTMENT
Washington
Prosa Service
No. 2 - 5 3
POR RELEASE, MORNING PAPERS
Friday, August 10, 1934.
8-9-34.
In answer to inquiries concerning the offoots of
^nationalization1* of silver, the Secretary of the Treasury
today stated that there soom to be available, for all legiti
mate industrial, professional, and artistic uses, ample
supplies of silver for such uses and not falling within the
class of silver which must be turned in to the Government
under the Executive Order issued today.
He added, however,
that, should there be any shortage of silver for these uses
or if it should not be available at reasonable prices, the
Government would immediately see that there wero made avail
able ample supplies of silver at current prices.
0
4
/tnGy.
6
The Secretary of the Treasury announced that regulations under
A
the Proclamation by the President dated!August 9, 1954jani the
Executive Order of fee. Berne diate relating to the »nationalization»
early as possifeìtH
silver would be issued m
f
\
Such regulations
i
will contain provisions requiring every person owning, controllili,
or possessing silver situated in the United States on August 9, 1954
to oweevriw and file with the Secretary of the Treasury a report relative
to such holding) of «ilver •
P r ev i s i o n w >i4 l Ahowioe roe Biade" f or v e »
prrrrfcino npan «if* acquisitions of silver^after August 9, 1954. H^ve
A
^ . o n w M r g ^ M t a i U t * «
silver
keep fteeugata re<
¿ l/ svJJ
;hat unelrreports
ports may be
accurate in every respect.
$
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
August 9, 1934,
Press Service
£T0# 2 « 5 4
The Secretary of the Treasury announced today that regulations
under the
Proclamation hy the President and the Executive Order of
August 9, 1934 relating to the "nationalization11 of silver would he
issued at an early date.
Such regulations will contain provisions
requiring every person owning, controlling, or possessing silver
situated in the United States on August 9, 1934 to file with the
Secretary of the Treasury a report relative to such holdings of
silver.
There will he required also reports on all acquisitions
of silver after August 9, 1934,
Accordingly every person owning
or acquiring silver should keep complete records relative thereto
so that the required reports may ho accurate in every respect.
îsmsoBi
-Washington
TOR ïimDlATf, RELIAS3*
August 10, 1934«
Press Service
Ho, 3 - 5 5
The following instructions were issued August 10 by ïïright Matthews,
Acting Commissioner oi Internal Bevenue, with "ohe approval of Henry Mcr.gonthau,
Jr,, Secretary of the Treasury, tc Collectors of Internal Be venue and for the
information of others concerned'}
Subdivision 10 of Schedule A of Title Till of the Revenue Act of
1926, as added by Section 8 of the Silver Purchase Act of 1934, pro
vides in part as follows:
** * * The provisions of this subdivision shall
extend to all transfers in the United States of any
interest in silver bullion * * * but shall not extend
to transfers of silver bullion by deposit or delivery
at a United States mint under proclamation by the
President or in compliance with any Executive order
issued pursuant to section 7 of the Silver Purchase
Act of 1934,<
i!An Executive Order was issued on August 9, 1934, pursuant to Section
7 os the Silver Purchase Act of 1934, requiring delivery to the United
States Mints of silver situated in the United States at that time,
Persons delivering silver pursuant to this Execufcive Order will receive
approximately SC,01 cents a fine troy ounce.
•Persons owning long forward or futures contracts outstanding at
but tiirtv receiving in fulfillment of she/», contracts silver required
to be delivered under this Executive Order must deliver the silver to
a
u n i
nod States Mint*
Ouch delivery in compliance with the Executive
Order is & transfer except from the silver tax.
0
fi
<A
JL
The Gold Reserve Act of 1954 authorize«« the President to issue silver
certificates against any silver uullion, silver* or standard silver dollars
in the Treasury which, at the time of such issue, is not held for redemption
of any outstanding silver certificated
In accordance with an order of the President issued pursuant to this
authority, the Secretary of the Treasury is now issuing silver certificates
against silver which was in the Treasury prior to the approval of the Silver
\
Purchase Act*
This amounted to approximately 62,000,000 ounces, the cost
are
of whi«*1* was about $46,900,000.
These silver certificates/being issued on
a basis of $1.29 an ounce, because that is required by law for all silver
certificates* The total amount to be issued^against these 62,000,000 ounces»
will be of a face amount of approximately $80,000,000.
The differ
ence between the cost of the silver involved and this face ^ m t ^ e r J ^ e
lawÌconstituted seigniorage] and, as these certificates are issued, Svili bè
shown on the Daily Statement as such.
^
now appears ^
While ”seigniorage ^yln the Daily Statement aoapapgeams for the first
timetfas a separate item, it has always appeared in the Treasury receipt account
Since the beginning of the Government, the Treasury has received a total of
*587,000,000
in seigniorage, which hitherto had been included on
the JJaily Statement under the item ”Other Miscellaneous.”
---------- oOo— --- ---The silver now being acquired under the Silver Purchase Act will, in
regular course, also form the basis of the issuance of silver certificates.
The silver certificates to be issued against^silver «.aquirod «u Ijll
Oiircr
Eujcfijaeaessàct will also, of course, be issued on the basis of $1.29 per ounce,
as required by law.
For the present the Treasury will issue against this
silver an aggregate face amount of certificates equal to its cost.
The differ®11
between the cost of the silver^held to secure these certificates when^issue
the monetary value($1.29 per an ounce) of the silver so held will be carried as
seigniorage as indicated above.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE EEL EASE,
August 10, 1934,
Press Service
No. 2 - 5 6
Dlie Gold Reserve Act of 1934 authorizes the President to issue silver
certificates against any silver "bullion, silver, or standard silver dollars
in the Treasury whicn, at the time of such issue, is not held for redemption
of any outstanding silver certificates.
In accordance with an order of the President issued pursuant to this
authority, the Secretary of the Treasury is now issuing silver certificates
against all the free silver which was in the Treasury prior to the approval
of the Silver Purchase Act.
This amounted to approximately 62,000,000 ounces,
the cost of which was about $46,900,000.
These silver certificates are "being
issued on a "basis of $1.29 an ounce, "because that is required "by law for all
silver certificates.
The total amount to "be issued, under the Presidents
order, against these 62,000,000 ounces will be of a face amount of approximately
$80,000,000.
The difference between the cost of the silver involved and this
face amount constitutes seigniorage under the law and, as these certificates
are issued, that difference will be shown on the Daily Statement as such.
While “seigniorage11 now appears in the Daily Statement for the first time
as a separate item, it has always appeared in the Treasury receipt account.
Since the beginning of the Government, the Treasury has received a total of
$387>000^00r in:'seigniorage, jmich_hitherto
boon included on the Daily
Statement under the item “Other Miscellaneous”,
Tnc silver now being acquired under tho Silver Purchase Act will, in
regular course, also form the basis of the issuance of silver certificates.
The silver certificates to be issued against this silver will also, of course,
-
2
-
be issued on tlie basis of $1*29 per ounce,
as required by law.
Por the
present the treasury will issue against this silver
an aggregate face amount
of certificates equal to its cost.
silver which will have to be hold
The difference between the cost of the
to secure these certificates when they are
issued and the monetary value (.'jjl.,29 an ounco) of the
silver so hold will bo
carried as seigniorage as indicated above.
TREASURY DEPARTMENT
Washington
August 13, 1934«
MEMORANDUM FOR THE PRESS:
memory
I
r s c e i:
RECEIPTS OF SILVER BY THE MINTS,:,
(Under Executive Order of December 21, 1933)
Week
Week ending August 10, 1934*
Denver......................
3,252.00 fine ounces
San Francisco..•••.•••••......251,205.94, "
Total for the week........254,457.94
Total receipts of silver through August 10,,1934: 10,671,000.00 fine ounces
mrr.F.TPTS OF GOLD BY THE MINTS AND ASSAY OFFICES,:
-----------------
Total
B3SC35I
New
Week ending August 10, 1934: ________ .Imports----------- Sgcondagr------- Somes^c . Week
Philadelphia .......
Hew Tork...........
r
.......
!!!!!..
Hew Orleans.........
Hew
.........
Total...... ..
$
6,9£6.S2
27,275,400.00
575 468.26
52 i032.00
1,040.03
»
$27,910,867.11
# 328,969.47
$
35,2
1,180,600.00
150,520.55
1,156,470,9
40,861.00
400,58.
42,770.76
296,t
£7.769.78______ -97.771.6
$1,771,491.56
$1,655,155.1
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
*
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
_______ Gold fioin-------
GOLD
Qoi4,C^rtif^cates^
R ece;
Week ended August 8.......
Received previously.......•
Total to August 8.....
$
66,602.76
----£8,722,844^9--$28,789,447.75
$
—
$65,734,590.00
Received by Treasurer’s Office:
Week ended August 8.......
Received previously.......
Total to August 8.....
NOTE:
$
1,000.00
... ....£49,994.00-$
250,994.00
R ece
$
000.00
.
—
$ 1,671,000.00
Gold bars deposited with the New York Assay Office to the amount of
$200,572.69 previously reported, r j
NOTI
PTlRnHASES OF GOVERNST^ECURITIE^FOR INVESTMENT ACCOUNTS:
■--------"
tK
—
A/
1
kTj o 1 *
M
HJRG
«fe
TREASURY DEPARTMENT
Washington
MEM0BA1THJM FOR THE PRESS:
August 13, 1934.
BEOEIPTS OE SILVER BY THE M I M S :
(Under Executive Order of December 21, 1933)
Week ending August 10, 1934:
Denver......................
3,252.00 fine ounces
San Francisco.............. 251,205.94 fine ounces
Total for the week........ 254,457.94 fino ounces
Total receipts of silver through August 10, 1934: 10,671,000.00 fine ounces
RECEIPTS of g o l d b y t h e m i n t s AND ASSAY OFFICES:
Imports
Week ending August 10, 1934:
Philadelphia. ••••.•••
Hew York«..... .
San Francisco......«
Denver«.............
Hew Orieans.•••••••••
Seattle...«.a.....*.«
Total............
Hew
_________ Secondary______ Domestic
6,926.82
27,275,400.00
575,468.26
52,032.00
1,040.03
••••••
$ 328,969.47
1,180,600.00
150,520.55
40,861.00
42,770.76
27,769.78
$27,910.867,11
$ 1,771,491.56
$
$
35.28
1,156,470.96
400,581.00
296.87
97,771.05
$1,655,155.16
GOLD RECEIVED BY FEDERAL RESERVE BANKS AHD THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks;
Week ended August 8.........
Received previously.... .. ••
Total to August 8.......
_____
Gold Coin_________. Gold Certificate^
$
66,602.76
28,722,844.99
$28,789,447.75
$
690,270.00
65.044,320.00
$65,734,590.00
Received by Treasurer’s Office:
Week ended August 8......«.«
Received previously........•
Total to August 8.......
DTE:
$
$
1,000.00
249,994.00
250,994.00
$
8 ,000.00
1,663,000.00
$ 1,671,000.00
Gold bars deposited with the Hew York Assay Office to the amount of
$200,572.69 previously reported.
PURCHASES OF GQVERHMEHT SECURITIES AHD GOVERHMEHT GUARAHTEED SECURITIES FOR
INVESTMENT ACCOUHTS:
Total for week
$45,098,100.00
In addition and as previously announced, the Treasury
direct #
purchased $22,000,000 of the H.O.L.C. guaranteed securities
Page 2«
S E I Z U R E S
Diet«
No«
6«
7«
8«
State
Ky.
Stills Capaci
seized
Spirits
ty
10«
Autos
Value of
Trucks property
11
690
367
5,750
4
-
Mich«
3
225
182
3,650
mm
-
550«
550.
5
Ohio«
5
585
400
14,000
2
-
1,995«
1,195.
7
Tenn«
10
1,035
78
10,650
2
—
1,350.
825.
8
TOTAL
29
2,535
1,027
34,050
8
Ills«
13
7,767
4,453
142,985
1
1
Ind«
4
255
335
1,700
1
-
Wise«
7
3,010
3,736
66,736
-
mm
Total
24
11,032
8,524
211,421
2
1
32
•
2
**
¥
2,385«
#
6,280.
1
4,120.
42
«
5,030.
«
2,980.
16
805«
255.
6
9,050«
7,800.
7
29;
A
* 14,885.
$
11,035.
mm
450«
¥
25.
6
725«
50.
9::!'
Iowa
1
Minn«
2
75
104
100
2
-
Neb«
-
-
85
mm
-
-
-
-
1
-
-
-
-
-
-
-
•
N.Dak«
9.
Mash
-- --!
Value of
property
destroyed ■Arrest
.
1,550.
$
29
S.Dak,
1
10
37
»
TOTAL
4
85
258
100
5
123
3,550
-
-
37
1,450
-
-
72
15,150
4
419
5,140
651
25,290
1
100«
4
1,275. $
75.
$
627« $
622.
25
35«
35.
4
mm
2,125.
475.
16
2
a»
1,507.
1.197.
27.
6
—
4,294. $
2,329.
72
Ark«
8
**
Kan«
-
mm
Mo«
3
600*
Okla.
7
m
TOTAL
18
600*
Ariz«
1
50
9
-
-
-
Colo«
3
77
61
200
1
-
N«Mex.
4
50
2
75
-
-
Utah
-
4MP
-
-
«
Wyo.
-
-
3
-
—
177
75
275
... 1
TOTAL
8
2
#
mm
—
Ml
1
10.
4
60
60
2j
-
-
-
$
140.
t
200.
C»
vj
mm
|
18l
$
70.
8
Removal Notice
The item identified below has been removed in accordance with FRASER's policy on handling
sensitive information in digitization projects due to copyright protections.
Citation Information
Document Type: Newspaper Article
Number of Pages Removed: 1
Author(s):
Title:
"U.S. Acts to End Bootleg Cut Into Liquor Taxes"
Date:
1934
Journal:
Herald-Tribune Bureau
Volume:
Page(s):
URL:
Federal Reserve Bank of St. Louis
https://fraser.stlouisfed.org
3QVW1
Km
Diet.
No. State
1*
Stills
s e Ized
~~~
Capaci
Spirits
ty
Conn*
-
-
Maine
-
-
Mass*
1
50
N.H.
-
R.I.
1
vt.
VESTIGATORS
UNIT
ti-191
4, 1954.
e»
100
S E 1 Z U R E S
Autos
Mash
Value of
Trucks property
-
mm
-
64
m
1
mm
78
1
3
-
-
-
mm
-
-
50.
1
mm
360.
mm
30
1,100
*
Value of
property
destroyed
$
950.
1,315.
-
Arre» ;
-
i*
-
6
«e
6
-
j
«
-
lj
Disi
mm
TOTAL
2
150
.172
1,101
5
-
&
V
2,675.
2.
N.Y.
6
3,505
541
4,100
2
1
$
7,367. 1
398.
8:
3.
Del*
1
35
‘3
175
-
-
$
100.
9
100.
*
N.J.
2
1,165
1,750
30,950
-
-
430.
430.
4
Pa.
6
1,150
269
8,093
3
-
11,550.
9,530.
TOTAL
9
2,350
2,022
39,218
3
-
$
12,080.
9
10,060.
181
D.C.
1
25
9
150
1
mm
9
200.
9
50.
3
16
4,800
213
11,445
6
m
N.Gar,
20
2,180
150
28,550
-
mm
S.Car,
9
684
27
3,380
2
m
125.
11
2,200
618
10,490
2
-
2,345.
W.Va.
4
176
162
1,550
2
«
744.
TOTAL
61
10,065
1,179
55,565
13
-
Ala.
164
65,705
277
35,390
3
«
Ha.
17
2,565
191
14,735
3
-
Ga.
32
6,431
151
27,550
1
La.
6
335
252
4,670
Miss.
15
1,254
161
Texas
12
480
TOTAL
246
76,770
4«
M
a .
Va.
5.
—
850.
200.
-
13j
H
i
33 j
-
13
-
12
1,810
694.
9
26
4,264.
#
2,754.
96
5,642.
$
5,442.
26
3,761.
3,546.
14
2
4,416.
3,916.
28
1
1
1,030.
705.
6,502
3
-
1,544.
1,419.
24
360
11,345
3
mm
2,075.
1,900.
66
1,392
10g,192
14
3
18,468. # 16,928.
166
$
9
8;
M ,
»
TREASURY DEPARTMENT
Washington
jOE IMMEDIATE RELEASE,
August 13, 1934
■
Press Service
1To* 2 ~ 57
■
ACTIVITIES OP INVESTIGATORS,
ALCOHOL TAX UNIT, POR WEEK ENDING- AUGUST 4, 1934.
(Corrected statement based on complete weekly reports
of investigators)
Dist.
Wo.
1
States
Stills
Seized
Maine
N. H.
Vt.
Mass.
Conn.
R. I.
Capacity
Gals. of
Spirits
Seized
G-als. of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
$
64
1
1
3
Arrests
950
6
360
1,315
6
50
1
1
50
78
1
1
100
30
1,100
TOTAL
2
150
172
1,101
5
$ 2,675
13
N. Y.
6
3,505
541
4,100
3
$ 7,367
8
2
3
Del,
IT. J.
Pa.
1
2
6
35
1,165
1,150
3
1,750
269
175
30,950
8,093
TOTAL
9
2,350
2,022
D. C.
Md.
N. Car.
S, Car.
Va.
¥. Va.
1
16
20
9
11
4
25
4,800
2,180
684
2,200
176
TOTAL
61
Ala.
Pia.
G-a.
La.
Miss.
Texas
TOTAL
4
5
$
3
100
430
11,550
4
. 14
39,218
3
$12,080
18
9
213
150
27
618
162
150
11,445
28,550
3,380
10,490
1,550
1
6
$
2
2
2
125
2,345
744
3
33
13
12
9
26
10,065
1,179
55,565
13
$ 4,264
96
164
17
32
6
15
12
65,705
2, 565
6,431
335
1,254
480
277
191
151
252
161
360
35,390
14,735
27,550
4,670
6,502
11,345
3
3
3
2
3
3
$ 5,642
3,761
4,416
1,030
1,544
2,075
26
14
28
8
24
66
76,770
1,392
100,192
17
$18,468
166
246
200
850
- 2 -
Di st.
MVv•
lw
fi
7
8
9
10
11
12
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
property
Seized
29
5
7 m
8
States
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Ky.
Mich.
Ohio
Tenn,
11
3
5
10
690
225
585
1,035
367
182
400
} 78
5,750
3, 650
14,000
10,650
4
2
2
$ 2,385
550
1,995
1,350
TOTAL
29
2, 535
1,027
34,050
8
$ 6,280
49
Ills,
Ind,
Wise.
13
4
7
7,767
255
3,010
4,453
335
3,736
142,985
1.700
66,736
2
1
$ 5,030
805
9,050
16
6
7
TOTAL
24
11,032
8,524
211,421
3
$14,885
29
$
100
2
.2
Iowa
Minn.
Neb.
H. Dak.
S. Dak.
1
2
75
32
104
85
1
10
37
TOTAL
4
85
258
100
Ark,
Kan,
Mo.
Old.a.
8
3
7
600
123
37
72
419
3,550
1,450
15,150
5,140
TOTAL
18
600
651
25,290
Ariz.
Colo.
N* Mex.
Utah
W"\rn-
1
3
4
50
77
50
9
61
2
TOTAL
8
200
75
450
725
6
9
1
1
100
2
5
$ 1,275
18
$
4
2
627
35
2,125
1,507
25
4
16
27
6
$ 4, 294
72
1
$
140
60
75
1
4
2
X
3
177
Arrests
275
1
$
200
8
Cal, ^
"Kfev. j
79
$
62
6
TOTAL
79
$
62
6
$
323
12
Idaho
; )
V
Mo nt ,_j
Ore.
Wash,
255
94
3,476
1
3
480
87
256
50
8, 631
2
2
550
2,672
3
6
TOTAL
8
735
437
12,157
5
$ 3,545
21
GRAM) TOTAL
444
108,004
16,357
483,469
69
$75,395
504
5
èsìgmt 13 * 1934
%
d e a r Hr* Secreteryt
,
y
a
Fur a u a & t to thè a u t horlty v e s t e d in
12 © f thè G o l d B © s e r v a l e i o f M k *
,t
m
r
d i r e c t thè ì s s u a n c a o f * u w
e s r t U i c a t e s ag a i a s t s i i v e r l a thè è r t a s i » n o i
" J 0,
%or
r o d o a p t i o » o f &r$r outstentìlng
Silver c e r t i f i c a t e a n d i n a face oisount o a c a l to
ite a a o u a t r e t u m e d f o r s ilvor rccaivte a t tte
d aitad w t a t e « Minta md t e a & y Ottima o a and a f t e r
Auguct
W 3 i # w t e t t e r a n d a r tte F r o c l a m a t i o n o f
21, 1933 o r u n d e r tea F r o e l c m t i o a o f
%
Dee © ater
1934*
Q
F u r s u a n t to tte a u t h a r i t y vestaci l a m
*>fc ^ X o a ? o f ti» S i l v e r Farcirne© A c t o f 1934* I
^rebsr d i r e c t ttet o u c h p e r t i c a o f ti» for e g o i ì »
.
mi* ®
r
^ iwp tfe» red c a p U o a of eilver
shall te t e d e d to ti» « o n o t e r y stocte
of ili© Uni t e d S tate® a n d teld as ballici* in tìm
^ m m l fumi o f ti» ?rm m ry$ ba t st e l i te carvi««
o a thè b oote o f thè Tmmury a t cast*
S i a e a r a l y yaurs,
f t e Hon o r & b l ©
Th# t e o ret&xy o f ite Treaaury,
HO/ais
The Treasurer
of the Uni Led States*
Sirs
Pursuant to the authority vested is s© by Section S
of the Silver Purchase Act of 1954» X hereby authorise and di
rect the issuance of »liver certificates in denominations of
|Xf §6, fXQ, |20 and flOO against silver in the Treasury not
then held for redemption of any outstanding silver certificate®,
and in a face amount equal to the cost of the silver heretofore
or hereofter purchased under the authority of Section § of ouch
Act, whether purchased from the Stabilisation fund constituted
b y Section 10 of the Sold Beserve Act of 1954 or fro» other
source®*
The portion of the foregoing silver not held for
redemption of the silver certificate® referred to shall b® added
to the monetary stock® o f the United States and hold, as bullion
in the general fund of the Treasury» but shall be carried on the
books o f the treasury at cost*
Respectfully,
Secretary of the Treasury*
Approved:
The White House
August
BO/mm.
0*XS*$4
, 1954.
M _
in
1
I A 0
*A
Y v ^ X - i W
GL-o —
tiie Secretary of the Treasury today made public the
(^
^
^
flett«r8/«hioh constitute the official orders eabodyiag
the policy hitherto announced with reference to the issuance of
silver certificates:
/ A m >*tyA*
f
THE WHITE HOUSE
WA S H INGTON
June 14, 1934
My dear Mr# Secretary:
Pursuant to the authority vested in me by
the Act approved May 12, 1933, as amended by The Gold
Reserve Act of 1934, approved January 50, 1934, X
hereby authorize and direct the issuance of silver
certificates, pursuant to law, in any or all of the
following denominations, fl, <5, £10, £20, and £100,
against any and all silver bullion or standard silver
dollars now in the Treasury not held for redemption of
any outstanding silver certificates.
Sincerely yours,
The Honorable
The Secretary of the Treasury.
<D.\C -
TEEASÜEY DEPARTMENT
Washington
FOE IMMEDIATE .HSLEASE,
August 13, 1934
Press Service
No, 3 — 58
The Secretary of the Treasury today made public the
attached letters, which constitute the official orders embody
ing tho policy hitherto announced with reference to the issu
ance of silver certificates.
THE WHITE HOUSE
Washington
June 14, 1934
My dear Mr, Secretary:
Pursuant to the authority vested in me by the Act
approved May 12, 1933, as amended by the G-old Eeserve Act of
1934, approved January 30, 1934, I hereby authorize and direct
the issuance of silver certificates, pursuant to law, in any
or all of the following denominations, $1, $5, $10, $20, and
$100, against any and all silver bullion or standard silver
dollars now in the Treasury not held for redemption of any
outstanding silver certificates.
Sincerely yours,
(Signed)
The Honorable
The Secretary of the Treasury.
PHMKLIN D. EOOSEVELT
August. 13, 1934.
The Treasurer
of the United States.
Sir;
Pursuant to the authority vested in me by Section 5
oX the Silver Purchase Act of 1934, I hereby authorize and di
rect tne issuance of silver certificates in denominations of
$1, $5, $10, $20 and $100 against silver in the Treasury not
then held for redemption of any outstanding silver certificates,
and in a face amount equal to the cost of the silver heretofore
or hereafter purchased under tho authority of Section 3 of such
Act, whether purchased from the Stabilization Fund constituted
by Section 10 of the Gold Reserve Act of 1934 or from other
sources.
The portion of the foregoing silver not held for
redemption of the silver certificates referred to shall be added
to the monetary stocks of the United States and held as bullion
in the general fund of the Treasury, but shall be carried on the
books of the Treasury at cost.
Respectfully,
(Signed)
H. MORGENTHAU, Jr.,
Secretary of the Treasury.
Approved;
(Signed) ERAJJKLIN D. ROOSEVELT,
The White House
August
13
, 1934,
August 13, 1934*.
My dear Mr, Secretary:
Pursuant to the authority vested in me
hy Section 12 of the Gold Reserve Act of 1934, I
hereby authorize and direct the issuance of silver
certificates against silver in the Treasury not
then held for the redemption of any outstanding
silver certificates and in a face amount equal to
the amount returned for silver received at the
United States Mints and Assay Offices on and after
June 15, 1934, whether under the Proclamation of
December 21, 1933 or under the Proclamation of
August 9, 1934,
Pursuant to the authority vested in me
by Section 7 of the Silver Purchase Act of 1934, I
hereby direct that such portion of the foregoing
silver as is not held for the redemption of silver
certificates shall be added to the monetary stocks
of the United States and held as bullion in the
general fund of the Treasury, but shall be carried
on the books of the Treasury at cost.
Sincerely your,
(Signed)
FRANKLIN D, ROOSEVELT
President,
The Honorable
The Secretary of the Treasury,
IBSTBUCTIOSS 'FOE BELIWEIHG SILVER TO THE ABBMÍ OFFICE Ifi H1W
im m THE «MTIOHAU^ATIOH* ORDER.
TQW
SL
i
If the silver is in your possession, sonó it to the Hew lorlE
at Old Slip ató South Street, which is near the
foot of Wall Street on the last River♦
2.
If the silver is in a bank or an approved warehouse and yon
have the warehouse receipt, endorse the receipt to «Superintendent, U. S. Assay Office0, have this endorsement guaranteed
••o- jo u r bank or a Ck^modity Smfeaagm Clearing broker, and deli
ver or send the warehouse receipt to the Assay Office*
If the warehouse receipt is in the hands of your broker or bank,
arrange for the broker or bank to deliver the receipt to the
Assay Office endorsed as above*
4.
If you deliver the silver itself, an advance payment up to
ninety-five per cent will ordinarily be made at once, and m®
balance will be paid after the exact value has been determined*
If -the warehouse receipt is turned over to the Assay Office, the
advance payment up to ninety-five per cent will ordinarily be
made within twenty—four hours*
5.
The Government -ill pay all proper delivery charges, and will
pay storage from -the time the Assay Office accepts delivery of
warehouse receipts*
A
f
* v
f
i
Jb.
i s
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
August 14, 1934.
INSTRUCTIONS FOR DELIVERING- SILVER TO THE ASSAY OFFICE IN NEW YORK
UNDER THE "NATIONALIZATION" ORDER.
1.
If the silver is in your possession, send it to the New York
Assay Office at Old Slip and South Street, which is near the
foot of Wall Street on the East River.
If the silver is in a hank or an approved warehouse and you
have the warehouse receipt, endorse the receipt to "Superintendent, U. S. Assay Office", have this endorsement guaranteed
"by your hank or a Commodity Exchange Clearing broker, and deli
ver or send the warehouse receipt to the Assay Office.
3.
If the warehouse receipt is in the hands of your broker or hank,
arrange for the broker or hank to deliver the receipt to the
Assay Office endorsed as above.
^
deliver the silver itself, an advance payment up to
ninety-five per cent will ordinarily he made at once, and the
balance will he paid after the exact value has been determined.
If the warehouse receipt is turned over to the Assay Office, the
advance payment up to ninety-five per cent will ordinarily he
iaade within twenty-four hours.
5.
The Government will pay all proper delivery charges, and will
pay storage from the time the Assay Office accepts delivery of
warehouse receipts.
NELLIE TAYLOE ROSS
Director of the Mint
Removal Notice
The item identified below has been removed in accordance with FRASER's policy on handling
sensitive information in digitization projects due to copyright protections.
Citation Information
Document Type: Newspaper Article
Number of Pages Removed: 1
Author(s):
Title:
"Treasury Bills Sold" and "Treasury Bills Awarded on 0.25 Per Cent Basis"
Date:
1934
Journal:
Herald-Tribune Bureau
Volume:
Page(s):
URL:
Federal Reserve Bank of St. Louis
https://fraser.stlouisfed.org
T re a sK # Bills Awarded
I O n 0.25 Per S * ( R P ffli
P ress Service
JL - S %
r a RIMASE, MORHI&G PAPERS.
Tuesday, August 14, 1934*
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts» of
132~day Treasury hills» dated August 15* 1954» and maturing
February 15» 1955» ihieh ware offered on August 10» ware
opened at the Federal reserve banks on August 13» 1954«
Tbs total suonai applied for m e $201,491,000, of which
|T5,S20*000 wae accepted«
The accepted bide ranged la pries
fro» 99*949» equivalent to a rate of about 0.10 percent per
annum, to 99.848, equivalent to a rate of about 0*30 percent
per annua, oa a bank discount basis»
Only part of the aaouai
bid for at ihe latter pries wae accepted«
The average price
ef Treasury bills to be issued le 99*875 and the average rate
is about 0*25 percent per annua on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,
Tuesday, August 14, 1934,
8-13-34.
Press Service
Ho, 2 - 5 9
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts, of
182-day Treasury hills, dated August 15, 1934, and maturing
February 13, 1935, which were offered on August 10, were
opened at the Federal reserve hanks on August 13, 1934.
The total amount applied for was $201,491,000, of which
$75,320,000 was accepted.
The accepted hids ranged in price
from 99.949, equivalent to a rate of about 0.10 percent per
annum, to 99.848, equivalent to a rate of about 0.30 percent
per annum, on a bank discount basis.
Only part of the amount
bid for at the latter price was accepted.
The average price
of Treasury bills to be issued is 99.875 and the average rate
is about 0.25 percent per annum on a bank discount basis.
August
Memorandum
for the
instructions
similar
to
to
the
Assay
issued
by
the
Director
to
the
the
mints
San
Orleans,
and
The
difference
only
other
on
than
warehouse
in
issued
in N e w
today
York,
the Mint,
Office
the
m
the
at
Clearing
Tayloe
of
been
Boss,
"nationalization”
Denver,
orde;
New
Seattle*
instructions
be
delivery
have
Philadelphia,
is
t h w -g-axAgxmGegqg.tm
must
for
g
lie!lie
silver u n d e r
Francisco,
receipts
Commodity Exchange
of
of
the A s s a y
New York
those
Office
del i v e ry
at
1934
Press:
silver
covering
14,
made
broker.
by
a
that
at
places
g a te[
the
endorsement
bank,
and
not
by
a
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
August 14, 1934
Instructions similar to those issued today for delivery of silver
to the Assay Office in New York, have "been issued by the Director of
the Mint, Nellie Tayloe Ross, covering the delivery of silver under
the “nationalization*' order to the mints at San Francisco, Philadelphia
Denver, New Orleans, and the Assay Office at Seattle.
The only difference in the instructions is that at places other
than New York the endorsement on warehouse receipts must he made by
a bank, and not by a Commodity Exchange Clearing broker.
!.. »
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
August 16, 1934,
Press Service
Eo. 2 - 6 0
During the month of July 389 liquor seizures were reported by the Bureau
of Customs of the Treasury Department.
Thirteen thousand, eight hundred and
sixty-six gallons of alcohol were seized during the month, a slight increase
over the previous month.
of liquor
Three thousand, one hundred and twenty-six gallons
were seized in July as against 935 gallons during the month of June.
Nearly two-thirds of the total amount of alcohol seized was apprehended in the
Gulf Coast Area.
A "belief that alcohol, rather than liquors of foreign origin, is the chief
commodity handled "by smugglers at present is borne out by the fact that the
seizures during each of the last two months were greater in amount than the
totals of this commodity apprehended during the entire fiscal years of 1931 or
1932, but slightly under the alcohol figure for the fiscal year 1933.
Seizures of beer have fallen off greatly within the last few years.
Dur
ing the fiscal year 1931, 77,295 gallons were confiscated by the Customs Bureau;
during the fiscal year 1932, 68,253 gallons; during the fiscal year 1933,
33,520 gallons, and during the fiscal year 1934, 8,910 gallons.
In June, 1934,
only 16 gallons were seized; in July, 578 gallons were taken.
The most valuable seizure made by the Customs Bureau during the month was
at Portland, Maine, when agents seized a British oil screw, GOLMACCAM.
This
vessel was appraised at $30,000, and her cargo at $7,185.50.
Immigration officers along the Mexican bolder made 7 seizures during the
month of July, confiscating 18 gallons of liquor and one gallon of alcohol.
Liquor
Seiz.
CANADIAN BORDER:
Maine & N. H.
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
9
2
*
2
2
~
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
ATLANTIC COAST:
New York
Mas sachus et ts
Rhode Island
Connecticut
Philadelphia
Maryland
Georgia
Gallons
Liquor Beer Alcohol
1,080
1
50
2
1
m
m
—'
30
~
—
-
~
* »
»
1
m
M
m
-
2
5
4
1
1
23
80
18
82
8
28
56
227
114
5
403
1
-
♦
—
-
GULF COAST:
Florida
Mobile
New Orleans
Sabine
Galveston
10
«8
—
-
40
1,035
• *
«•
1
525
4,716
122
88
68
Boats
No, Value
1 $30,000
2
M
*-
«
—
M»
MM
»
« •
«Ml
mm
—
-
•»
m.
mm
m
m
mm
W»
mm
mm
mm
m
« •
m
m
m
m
m
m
m
m
m
m
m
m
m
m
-
« .
~
m.
-
m
m
m
m
-
5,669
m
m
3,198
m
m
-
3
m
m
3
6
PACIFIC COAST:
San Francisco
Los Angeles
2
11
2
5
«
-
«
OTHER DISTRICTS
6
200
-
5
mm
389
3,126
578
13,866
•
NOTE •* * Report not received.
1
mm
2
mm
3
9
195
m
m
80
400
M
M
-
M
M
M
M
-
m
m
m
m
-
m
m■
m
m
~
M
M
«•
-
1,300
m
m
2,350
M
M
2
450
-
M
M
M
M
M
-
-
M
M
-
m
m
m
m
mm
m
m
4
TOTAL . . . . . .
M
15
m
m
m.
m
m
$625
1
m
m
m
m
Autos
No, Value
M
M
1,700
M
M
9 $35,365
18 $1 ,750
2 Regulation!is
■ Agt r o f " 1 9 3 4
lliju.L
¿1
till! i 'l i u'uXST
GL^-C
Qrdew " n a t i o n a l ! z s i l v e r were issued today.
They require the filing on or before September 15 of detailed reports
by all persons holding silver situated in the United States, whether
or not required to be surrendered.
Similar reports are required
periodically of all persons acquiring or disposing of silver in the
United States.
Persons delivering "nationalized" silver to a Mint
^
TREASURY DEPARTMENT
Washington
EOxl IMMEDIATE RELEASE,
August 17, 1934,
Press Service
Ho, 2 - 6 1
Regulations covering ”national!zed.“ silver were issued today.
They require the filing on or before September 15 of detailed re
ports by all persons holding silver situated in the United States,
whether or not required to be surrendered»
Similar reports are
required periodically of all persons acquiring or disposing of
silver in the United Statefe,
Persons delivering "nationalized”
silver to a Mint on or before September 1 are not required to file
reports»
Copies of these regulations may be obtained from the
Director of the Mint in the Treasury, or from any Mint or Assay
Office.
TREASURY DEPARTMENT
Washington
m e m o r a n d um eo r t h e p r e s s .
August 17, 1934.
The Secretary of the Treasu.ry today issued regulations in connection
with the "nationalization” of silver covering —
Receipt of silver hy the United States Mints and Assay
Offices under the Proclamation of August 9, 1934;
Delivery of silver to the United States Mints and Assay
Offices as required hy the Executive Order of the same date;
Investigation and regulation of the acquisition, importa
tion, and exportation of silver;
Prohibition of exportation of silver; and
Filing of reports in connection with the foregoing.
The regulations may he summarized as follows:
Reports to the Secretary of the Treasury.
1. Persons delivering silver to a United States Mint or
Assay Office on or before September 1, 1934 are not required to
file reports relative to such silver.
2. As to other silver situated in the continental United
States on or after August 9 and not falling within the excepted
categories (coins, fabricated articles, and a limited amount of
scrap, sweepings, etc.), the person owning, possessing, or con
trolling it on or after August 9, 1934, is required to file by
September 15 with the Secretary of the Treasury a report containing
true and complete information relative thereto. Similar reports
are required respecting the acquisition or disposition after
August 9 of such silver and must be filed within forty—five days
after the acquisition or disposition.
Receipt of silver by the Mints.
3. The mints and assay offices will receive all silver
situated in the continental United States on Augqst 9, 1934,
whethex or not required to be delivered; except that
(a) Silver required to be delivered mqpt be in
lots of not less than 24,500 troy ounces, or the total
amount which the depositor is under obligation to
deliver if that is less than 24,500 troy ounces,
(b) Silver which may be — but is not required
to be —
delivered will be received only if of a
fineness greater than .8 and in lots of not less than
50 troy ounces.
-
2
-
4.
Payment for the silver delivered will be at the rate
of 50.010505^ cents per fine ounce, in standard silver dollars,
silver certificates, other coin or currency, (or may be by
United States check if the depositor does not request coin or
currency) *
Silver required to be delivered»
5. All silver situated in the continental United States
on August 9, 1934, must be delivered, unless falling within
an exempted class.
6. Exemptions include coin, fabricated silver, and a
limited amount of scrap silver. (See Sections 41 through 48
for complete list of exemptions.)
7. Silver "newly mined" after August 9, 1934, from natural
deposits in the United States, or any place subject to its
jurisdiction, is not required to be delivered under the Execu
tive Order or the regulations.
Silver "newly mined" after December 21, 1933 from natural
deposits in „the continental United States may be deposited with
a coinage mint under the Proclamation of that date; but if mined
between December 21, 1933 and August 9, 1934, and not deposited
under the December 21 Proclamation within fifteen days after re
fining or November 7, 193'4,whichever is later, such silver must
be delivered under the Executive .Order of August 9 and the regu
lations.
lime and place of delivery.
. . 8. Delivery should be made to the United States Mint or
Assay Office to which the silver can be shipped most economically
i.e., Philadelphia, New York, Denver, or San Francisco, which
ever is nearest,
9. Silver must be delivered to the proper mint on or before
November 7, 1934, or if temporarily exempt, within fifteen days
after it ceases to be exempt.
Duty; to see that delivery is made to a Mint.
10.
Transfer or delivery of ownership, possession or control
to another (except in fulfillment on or before November 7, of an
obligation incurred or assumed on or before August 9, 1934, or to
a person licensed to acquire and withhold silver) will not relieve
any person of the duty of seeing that silver is delivered in com
pliance with the provisions of the Executive Order or of the
regulations.
'
’
W
- 3 -
Reimbur sements for costs.
11. The Treasury will pay necessary costs actually incurred
in delivering silver to the proper mint or assay office after
receipt of expense account on Treasury voucher form. Forms may
he obtained at the mints and assay offices.
Licenses to withhold silver.
12. The Secretary of the Treasury may issue licenses author
izing the acquisition or withholding of "nationalized11 silver for
industrial use, for reexport, or to fulfill pre-existing contracts;
and, with the approval of the President, for purposes deemed to he
in the public interest and not inconsistent with the purposes of
the Silver Purchase Act of 1934 and of the Executive Order; hut,
as licenses are not necessary to acquire or withhold silver which
is not "nationalized" licenses will not he issued where such
silver can he substituted. Applications for such licenses are
to he made not later than September 15, 1934.
Exnortation of silver.
The Regulations of July 5, relating to licenses to exportsilver, are revoked (Section 3) hut appear in modified form in
Article IX.
- 5 -
Time and place of delivery,
8,
Delivery should be made to the United States Mint
or Assay Office to which the silver can be shipped most
economically —
i.e*, Philadelphia, New York, Denver, or
San Francisco, whichever is nearest.
9,
Silver must be delivered to the proper mint on or
before November 7, 1954, or if temporarily exempt, within
fifteen days after it ceases to be exempt.
Duty to see that delivery is made to a Mint,
10,
Transfer or delivery of ownership, possession or
control to another (except in fulfillment on or before November
7, of an obligation incurred or assumed on or before August 9,
1954, or to a person licensed to acquire and withhold silver)
will not relieve any person of the duty of seeing that silver
is delivered in compliance with the provisions of the Execu
tive Order or of the regulations.
Reimbursements for costs,^ ^
l l J ' ^ c e s s a ^ c o i t s a c t S d ^ l n c u r r e d in delivering
silver to' the proper mint or assay office wa.lH be r e imTwrrueA
t h u T w w n » t~ jt after receipt of expense account on Treasury
voucher form. Forms may be obtained at the mints and assay
offices.
Licenses to withhold silver,
12. The Secretary of the Treasury may issue licenses
authorizing the acquisition or withholding of "nationalized”
silver for industrial use, for reexport, or to fulfill pre
existing contracts} and, with the approval of the President,
for purposes deemed to be in the public interest and not
inconsistent with the purposes of the Silver Purchase Act of
1954 and of the Executive Order} but, as licenses are not ^ ^
necessary to acquire or withhold.silvepumJ’tr in tho contmoffirtwH
Unbred States on Auguct 9, licaryfes will not be issued where
such silver can be substituted^ Applications for such licenses
are to be made not later than September 15, 1954.
Exportation of silver.
The Regulations of July 5, relating to licenses to export
silver,are revoked (Sectior/ 5) but appear in modified form in
Article IX.
#
I
-
2
-
(a) Silver required to be delivered must be in
lots of not less than 24,500 troy ounces, or the total
amount which the depositor is under obligation to
deliver if that is less than 24,500 troy ounces.
(b) Silver which may be —
but is not required
to be —
delivered will be received only if of a
fineness greater than . 8 and in lots of not less than
50 troy ounces.
4.
Payment for the silver delivered will be at the rate
of 50.010505/ cents per fine ounce, in standard silver dollars,
silver certificates, other coin or currency, (or may be by
United States check if the depositor does not request coin or
currency) •
Silver required to be delivered.
Ki3Md3EfexgsribgpdS!aiBXig«tegdxa l i v e r jp caaofccg
a gy g&TflpXg
kttyl±zk>ca£xsxBm&± m x x ±
5.
All silver situated in the continental United States
on August 9, 1934, must be delivered, unless falling within
an exempt,gtftr"
•
6.
Exemptions include coin, fabricated silver, and a
limited amount of scrap silver. (See Sections 41 through 48
for complete list of exemptions.)
vYYY^ernFinmfinnffi^ymagmmm^
7,
Silver "newly mined11 after August 9, 1954, from natural
deposits in the United States, or any place subject to its
jurisdiction, is not required to be delivered under the Execu
tive Order or the regulations.
,
«
Silver "newly mined" after December 21, 1933^may be
deposited with a coinage mint under the Proclamation of that
date; but if mined between December 21, 1933 and August 9,
1934, and not deposiJ|d
under the December 21 proclamation
►sited x
within fifteen days^Gfrefining or November 7, whichever is
later,.must be delivered under the Executive Order of August
9 and ¿he regulations*
3 /
I
TREASURY DEPARTMENT
WASHINGTON
Memorandum for the Press*
The Secretary of the Treasury today issued regulations^covering —
^
Receipt of silver by the United States Mints and Assay
Offices under the
Proclamation of August 9
1934;
Delivery of silver to the United States Mints and Assay
Offices * r e q u i r e d by the Executive Order of the same date;
jjl Investigation and regulation of the acquisition, importation, and exportation of silver;
tt
Prohibition of exportation of silver; and
Filing of reports in connection with the foregoing.
The regulations may be summarized as follows:
Reports to the Secretary of the Treasury.
1, Persons delivering silver to a United States Mint or
Assay Office on or before September 1, 1934 are not required
to file reports relative to such silver.
2* «As to other silver situated in the continental United
States on or after August 9 and not falling -within the excepte^
categories (coins, fabricated articles,jfscrap^sweepings, etc.), |
the person owning, possessing, or controlling it on or after
August 9, 1954, is required to file by September 15 with the
Secretary of the Treasury a report containing true and complete
information relative thereto. Similar reports are required
fteiamK-fcxfl respecting the acquisition or disposition after i j
August 9 of such silver and must be filed within forty—five days ^1
jgF the acquisition or disposition.
Receipt of silver by the Mints.
% The mints and assay offices will receive all silver
situated in the continental United abates j
on August 9, 1934, and ajfc irUvor required to be delivered*!**^
the Bb u b w é m w flrrïnr si tflnWftte,
lühIul bhu ■
''-L"1ni Vm'j
f m m m m&jmm®
w m m m m
Umatmtom
for Ihe
Pmm*
l%
1954.
Sosretary of the treasury today issued regulations covering *
¿&
1« Receipt of i l l w by the misls sad assay offices under
ttoe “nationalisation* proclamation of August 9# 1934}
^
delivery of i t l w to the taints required %
ties Order of the same dates
the Rxeeup*
3* Investigation end escalation of the ao&xisiiloa* lie»
portatlon* end sxportaiioa of silvers
4s
Prohibition o f exportation of t H e a r t and
$• H l i n g of reports In connection with forsgolng to
effsetuats the policy of the Silver Furehas* dot of 1934*
fhe silver regulations provide substantially as follows*
i
M
l
f i j j m m t o M regulations*
1. fhe radiations of M b ' S* 1934* relating to U e s n s i a *
the export of silver* are revoked*
& e o ^ t e te the Sssretawr a f | fl
a* Persons delivering sliver to a mint or assay office on
or before Sspteeber 1* 1934 are not requirsd to file reports
relative thereto*
3*
As to silver (a) Hot delivered on or before September 1* 1934* and
(b) not falling within the excepted categories {coins*
fsbrlcatsd products* scrap* sweepings* eto*)* and
(o) which was situated In the continental Halted States
on or before Mf^ust 9* 1934»
the person owning* possessing* or controlling it on or after
b p w f r 9» 1934* le repaired to file with the Secretary cf the
‘
treasury reports containing true and c o l l e t s information
relative thereto*
ovnlae, pos»««»lag or controlline «neh stivar £& Jxiguat 9,
1934 mat filo roporto on or bofo?# Soptooibor 13, 1934} porson# ao»
girine «note stivar aftor ta£a#t 9, 1934 » 1 filo reporto withln 43
aitpi oftsr
acqui*itloiu
rifaitM.
4, Sh# mini# and m m m offlo#® srUl r#o«iv# #11 «livor «telate
th«y or» «atlaflod m «ltuatod In tho continental Unltod Stato« on
^n^uit f# 1934, oná à 1 stivo? roqutrod to bo d«llv#r«d ondo? Ibi
locativo Ordor of that dato m 1 nador th# rogalationo*
Hi; Bolivortoo anst bo tu loto of 35,000 troy ounooo, uni«»« tho
tot* w w i vteicte tho d«po«itor lo ondo? obliasti#» to dolivar io
loto than 35,000 troy «imo#»*
4, Paymont far tho «livor déltvorod vili bo at tho rato of
50*01 canto piu# por fin# enne#* in «tandard #tlvor dollar«, olivo?
eortlfloat##, oth
ooin or curronoy, or Oteltod Stato# duróte*
mt
7*
til «livor oltuatod In tho continental Ufcitod Stato# on
AogBil.ft 1934, srnot bo d#liv#?#d (uniese exceptad)*
S* Stivar *»#wly ©taod* afta? tnen#t 9, 1934, froos mtoral
dapoaita in Hit United Stato«, or aoy placo vabjoet to ito ¿aria»
dictlon, i# not roqulrad to b# doliverod ondar Idi# tsaontlv# Ord«r
0? th# ra&alatlona*
my
mm%
Stivar % # wiy minad11 aftar Doesmbw 31» 1933
ba á#»
pottltad vith a coinae# mint nado? th# proclamation of that dat#}
bul tf minad botwoon Uocombor 31» 1933 and Aupist 9» 1934« and
not dopooitod undor 12®» Dacamber 31 proclamation» it
b# do»
llvorod ondo? th# Inacutiva Oráor of Anpist 9 and tho ra$ulatloaa»
not lato? thaa 13 day# fremi tho tisi» aban raduoad to a finan««« of
e?#at«r than 0*3, o? Hovombor 7, 1934, «hidievor dato 1« lat«r*
t» Bollvory steould b# mad# to th# United Stato# mlnt o? aooay
afflo# to «telóte th# «livor can bo stelppoá ®o#t aconomieally*
10* ^Ivor ahonld bo dellverod to tho propar mint on o?
trombar 7« 1934«
boforo
1 «
Avold&noo
of dallyary.
11« Transfer or delivery of ownership, possession or control
to another (except in fulfillment of on obligation incurred or
assumed on or before August 9# 1934« or t e a s e r son licensed to no*
<jiire and withhold silver) will not roll«?* any person of the duty
of seeing that »liver 1« delivered In compliance with the provisions
of the Executive Order or of the regulation».
13. Cost» incurred in transportation of’ «ilv«r to the mints
and assay offices will be reimbursed by the Treasury.
13« fht Secretary of the Treasury m y issue licenses
author! *ing the withholding of silver for industrial use# for re
export# or to fulfill preexisting contracts! and he m y # with the
approval of the President» do likewise for purposes deemed to he
in the public Interest and not Inconsistent with the purposes of
the Silver Purchase Act of 1934 and of the Executive Order. Appli
cations for such licenses should he made not latasr than September 13#
1934.
14« txoept as otherwise specifioally provided» no perso» le
pernitted to export frem thè Continental tlnlted States# aay stivar
except under llcense«
li#
The Seeretary of thè Treasury aay itene export licensss
in oert&ln specified caeess and he aay, with thè approvai of thè
Preside»!# iseue suedi llcenses for other pnrpeeee net inooaststent
with thè purposes of thè Silver Purchase Aot of 1934«
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
August 20, 1934.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1955)
Week ended August 17, 1954:
Philadelphia..................
154,249.79 fine ounces
San Francisco.... .............. 490,276.26 0
«
Denver.............. ..........
5.251.00
11
«
Total for week&'^t**Ai£ i7. 649,757.05 "
w
Total receipts of silver through ^August 17, 1954: 11,521,000 fine ounces.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of August 9, 1954)
EH*
San Francisco.......... ......
987,059.00 fine^t£ces
37
r
Denver
6,727.00
New York
Total,
August 17. ...... .
through
33, A
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ending August 17, 1954:_____ Imports_______ Secondary
Philadelphia .
San Francisco.
Denver........
New York.... .
Seattle.......
New Orleans..,
Total for the week.
?
5,951,55
78,166.48
28,654.00
5,651,000.00
5,511.65
$5,747,245.46
¿ 7 0 9/
New domestic y
$
416,195.04
158,014.51
56,712.00
960,900.00
25,829.60
55.090.16
11,652,759.51
244.04
759,045.12
754,807.00
•••«
101,022.97
2.286.55
$1,577,405.1
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary*s Order of December 28, 1955)
Received by Federal Reserve Banks:
Week ended August 15........
Received previously........
Total to August 15.... .
Gold Coin
50,755.74
28.789.447.75
128,840,181.49
Gold Certificates
I
681,540.00
65.754.590.00
$66,415,950.00
Received by Treasurer’s Office:
Week ended August 15••••••••
Received previously.••••••••
Total to August 15......
250.994.00
250,994.00
17,000.00
1.671 .000.00
1 ,688,000.00
Note: Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for week............................ In
*p.so.onn.nn
$1,250,000.00
TREASURY DEPARTMENT
Washington
August 20, 1934,
MEMORANDUM FOR THE PRESS:
RECEIPTS o p s ilver by t h e MISTS:
(Under Executive Order of December 21, 1933)
feek ended August 17, 1934:
154,249.79 fine ounces
490,276.26
M
11
5,231.00
M
"
649,757.05
11
11
Philadelphia.••••••••••«••••••••
San Francisco.•••••••••.«•••••••
Denver.
Total for week ended Aug.17...
Total receipts of silver through August 17, 1934:
11,321,o 60 fine ounces.
S l i m TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
San Francisco•••••••••••••*••••• 987,039.00 fine ounces
Denver.........................
6,727.00
"
"
Hew Y
o
r
k
*
.32,471,325.00
...... .33,465,091.00
Total through August 17
”
11
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended August 17, 1934:
Philadelphia.........
San Francisco........
Denver...............
Hew York.............
Seattle. •••••••••••••
Hew Orleans....... ..
Total for the week*
Imports________ Secondary_______ Hew Domestic
$
5,931.35
78,166.48
28,634.00
3,631,000.00
.....
3,511.63
$
416,193.04
158,014.51
56,712.00
960,900.00
25,829.60
____ 35,090.16
$
244.04
739,045*12
734,807.00
•••••
101,022.97
_____ 2,286.55
$3,747,243.46
$1,652,739.31
$1,577,405.68
GOLD RECEIVED BY FEDERAL RESERVE RAMS AND THE TREASURER!S OFFICE:
(Under Secretary1s Order of December128, 1933)
Received by Federal Reserve Banks:
Gold Coin_______ Gold Certificates
Week ended August 15.••••••»
$
50,733.74
Received p r e v i o u s l y . 28,789,447.75
Total to August 15.••««••«
$28,840,181*49
$
681,340.00
65,734,590.00
$66,415,930.00
Received by Treasurers Office:
Week ended August 15........
Received previously.i...... *
$
•••••
250,994.00
Total to August 15«.......
$
250,994.00
Note:
$
17,000.00
1,671,000.00
$ 1 ,688 ,000.00
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for week...... ...................... $1,250,000.00
i
TREASURY DEPARTMENT
Washington.
I
f
yOR RELEASE, MORNING- PAPERS,
Sunday, August 19, 1934.
8-18-34
Press Service
No, 2 - 62
I
I
Total imports of distilled liquors, distilled wines and sparkling
wines during July were the smallest for any month since repeal, according
to figures released to—day "by the office of the Commissioner of Customs
of the Treasury Department,
Eor the first time since December, 1933,
the total imports of distilled liquor in proof gallons virtually equalled
the total which entered into consumption.
The amount of distilled liquor available for consumption in customs
warehouses has steadily increased since repeal.
Nearly five million proof
gallons are now in warehouses available for consumption,
:
Duties collected on distilled liquors and wines fell below two
million dollars for the first time since December, 1933,
The first of the following tables shows the imports of distilled
liquors and wines during the months of June and July, 1934, and the duties
collected thereon and the total amounts collected since repeal.
The second table shows the duties collected on imports of distilled
!> and fermented liquors during June and July, 1934, with a comparison of
duties collected on other imports.
I
-
2
-
DISTILLED LIQUORS M D WINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
JUNE, I9 3 U - JULY, I9 3 U, Incl.
June
m k
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
WINES (Liquid Gallons)
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports
Available for consumption
Entered into Consumption
Stock in Customs Bonded Ware
houses at end of month
Totals
Dec. 1933 to
June, I9 3 U
July
193^
*+,i+35<if+
5H,709
*+,9*+6,903
Ui7,6o6
2 S,0 *+U
8,291,^08
8 ,319, *+52
3,790,155
*+,5 2 9 , 2 9 7
359, *+29
U,8 8 8 ,7 2 6
352,221
*+,5 2 9 , 2 9 7
*+,529.297
*+,536,505
,6 7 3 . 9 0 1
*+3 0 , 5 5 0
2,ioU,U5i
2 3 0 ,0 0 1
1
2 6 6 ,3 1 7
1
,3 3 8 ,13 1 *
*+,3i*+, 757
*+,5*+*+.75S
2,706,62^
1
,2 3 8 ,1 3 ++
1,838,13++
2 5 7 ,0 6 s
2 ,0 9 5 , 2 0 2
1 3 5 ,0 3 5
1 ,9 6 0 , 1 6 7
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses at "beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Warehouses at end of month
DUTIES COLLECTED ON Distilled liquors
Wines
Sparkling
Still
Total
(a.)
June
1931t
Totals
Dec. 1933 to
June, 193^
July
1934
322,715
39.476
3 6 2 ,19 1
23 .76 s
49,550
623,895
673,445
335,022
338,423
20,330
352,753
lH,0S6
33S.423
338,423
3 ^ ,6 6 7
$2 ,039.023
$1S,6U4,^29
$1,748,730
iUo,U3^
332,^20
1 ,999,426
3,379.84s
$2,511,877
$24,023,703
Including withdrawals for ship supplies and diplomatic use*
S1.&&
16 9 ,09)+
$1,999,468
i
~ 3 -
DUTIES COLLECTED ON IMPORTS OE DISTILLED AND FERMENTED LIQUOR
DURING JUNE AND JULY , 1934
1
-V'
L...
¡Distilled Liquor
,f from Cuba
Sparkling wines
11
11 from Cuba
Still wines
1 11
,r
from Cuba
Rate of
Duty per
Gallon
June, 1934 (b)
Gallons
Imported
Duties
$5.00
4.00
6.00
4.80
1.25
1.00
389,099
23,382
23,400
7
265,916
25
I Duties collected on liquor
11
1
®
on other imports
Total duties collected
$1,945,495
93,528
140,400
34
332,395
25
July, 1934 (a)
Gallon^
Imported
Duties352,221
(c)
14,086
(c)
135,035
(c)
$1,748,730
(c)
81,644
(c)
169,094
(o)
$2,511,877
$1,999,468
18,325,056
17,331,863
$20,836,933
$19,331,331
|a) Vfàies are as actually reported by Collectors and do not check exactly with
gallonage at quoted rates. Neither gallonage nor duties will correspond with
I
data subsequently compiled by the Department of Commerce,
It) As reported by the Department of Commerce,
ic) Not separately reported by Collectors,
Bist«
No.
State
REPORT OP ACTIVITIES OP INVESTIGATORS
OP TEE ALCOHOL TAX UNIT
Compiled from Porm L—191
Week ending August 11. 1934.
Value of
SET
Value of property
Stills Capaci
property destroyed
Mash Jtatos
Spirits
seized
ty
.■Arret) FOR
Aug
\
1.
2
.
N. Y.
100
101
1,650
250.! $
300
464
1,900
430.
40.
4
400
565
3,550
680,
40.
10
,394
1,266
37,500
687.) $
I
6754
3,292
150 4 #
1
150.
300*
300.
#
1,1254 I
450.
f
1,740 4 «
3.
97
TOTAL
4.
93
1.178
D*C*
IS
*■»
125.
650 *
605,
130
1
!
»
1,4354
1,0 6 0 . 1
I
I
5.227J I
1.642.1_a
$
1,5004 5$ 1,500.
6674
TOTAL
5.
2,277
48
9,502
29
5,090
21
4,245
257
55
9,207
231
11
545
320
17
1,860
212
11
1,220
218
144
46-
22,16r? 1,284
80,985
19
It
“
457.
$
4,9121
4,802.
2,947
1,517,
19,229
I 17,059,
TREASURY DEPARTMENT
Washington
FOR immediate r e l e a s e ,
Press Service
No. 2 - 6 3
August 20, 1934,
ACTIVITIES OF INVESTIGATORS,
ALCOHOL TAX UNIT, EOR WEEK ENDING- AUGUST 11, 1934.
(Corrected statement "based on complete weekly reports
of investigators)
1 Dist,
No.
States
1
Conn,
Maine
Mass,
N.H.
R.I.
Vt.
J
16
,
>
2.
n
i 3’
51
A
s
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Value, of
Property Arrests
Seized
•
1
100
101
1,650
1
3
300
464
1,900
1
TOTAL
4
400
565
3,550
2
$
N. Y.
10
1,394
1,266
37,500
Del*
N.J.
Pa,
3
1
90
7
TOTAL
4
97
93
D* 0*
Md,
N.Car,
S.Car.
W.Va.
fa*
8
18
14
3
5
1,000
4.140
2,482
400
1,480
TOTAL
48
Ala*
Ha,
Ga.
La,
Miss,
T exas
TOTAL
250
3
430
5
1
680
9
3
$28,687
16
2
$
675
150
300
3
1
1,178
2
$ 1,125
4
297
163
1,113
285
97
322
1,435
47,745
12,180
1,900
17,725
5
2
5
2
2
4
$ 1,740
650
605
130
667
1,435
11
20
37
19
21
12
9,502
2,277
80,985
20
$ 5,227
120
29
21
55
11
17
11
5,090
4,245
9,207
545
1,860
1,220
46
257
231
320
212
218
7,160
17,310
32,960
4,848
7,640
5,050
2
1
2
4
8
$ 1,500
4,912
6,607
935
2,328
2,947
11
11
31
15
24
45
144
22,167
1,284
74,968
17
$19,229
137
75
18
1,100
78
$
1
4.
2
1
=J i
i
1
J
I
5.
2
r
Dist.
No.
6.
7.
8.
#
9.
I
10.
11.
!
12*
States
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals,of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
Ky.
Mich,
Ohio
Tenn.
14
2
7
23
830
375
190
2,580
167
313
311
547
9,130
800
10,250
25,000
1
$ 2,028
825
769
2,345
19
1
9
16
TOTAL
46
3,975
1,338
45,180
1
$ 5,967
45
111.
lad.
Wise.
10
7
1
810
325
700
256
47
900
7,650
840
1,200
1
1
$ 1,590
210
950
5
5
4
TOTAL
18
1,835
1,203
9,690
2
$ 2,750
14
1
9
30
1,460
319
2,361
400
28,050
1
$
10
13
1
Iowa
Minn.
lieh.
IT.Dak.
S.Dak.
675
3,305
1
3
TOTAL
10
1,490
2,683
28,450
1
$ 3,980
25
Ark.
Kan.
Mo,
Okla,
9
5
7
8
990
353
780
630
101
508
178
254
4,550
775
1,880
3,070
4
2
2
3
$ 1,635
1,548
975
1,420
29
9
18
30
TOTAL
22
2, *;o
1,041
10,275
11
$ 5,578
86
A:;:. _
Co i.On
H* Mox.
Utah
Wyo.
O
1
5
80
25
185
13
10
9
550
100
650
<j>
3
2
16
TOTAL
8
Cal.)
Nev.)
1
14a
2
2
32
1,302
1
$
145
23
3
661
48,060
1
$10,500
11
TOTAL
3
661
48,060
1
$10,500
11
Idaho)
Mont.)
1
85
4
1,000
Ore
Wash,
1
5
92
TOTAL
2
90
96
1,000
TOTAL
326
43,993
12,539
342,138
290
30
4
10
8
40
12
$83,908
502
$
$
y
61
f*
OamereigflL or u n o ffic ia l
atorekeopo^gaeagar# and other
0“O^rf3
o ffle e r a.
iM sr m w ,
Offle e e f Canti (alo n ar e f In i s is a l Saranu,
fa Ä ii» # « * a* c.
*® D xsT xici
«
m
a
m
m
a
cmacKss <xr mrauu. im m m ,
,
SK SSX B P K H U B am , and cmsSCCRCBOnBi
Szeapt M
repaired in «Ite perforatene« ef M a
Cinti Bi-;, a o
aKiaUl
or ether offiosr# «r «ployee,
of the Internal » m a s e * Servie*, i M D l itfftjta «" «ipervise
the p i g i a i of# «ay distilled «piriti or ether l l p i r t » or
reiaspeet aay g i r i l o reduced la proof £ Provided# that ^ « r o
spirito are reduced la proof ai the h o » fed sartóieaoe «t th#
time «f raserai# thè spirito m r he relaopeeted try Ih* etere*
3cœper-g« 02for# tot no fee# or other c<np«Rs&tio&# «Itoli ho
«barged or
accepted
for sudi reiaepeotion*
Paragraphe 153# 154 and 155 of t h o Osuglag «aaaal»
offest i v e Jaaoary 1# 1034# «ad all othsar reflations# ordors
or Instructions inconsistent herseith «re hereby revoked.
jÖoraBlssioasr«
_
*
approved* Jöa^»t<l£^_»
Secretary
the. ffeaeary«
X
TREASURY
«TURE RELEASE
Was!
IT
OBSERVE DATE
n J
\
Address prepared fo^ delivery “
by Robert H. Jackson, Assistant General
X
i» * f
ftounsel of the U. S. TreasuryN^epartment, before
Ninth Annual Meeting of
the Federation of Ear Associations of Western NeW York, at Niagara Falls, N*Y*,
on Saturday, June 30, 1934. •
<T"7
— GRANGES— nr-TOSSUET— W
OTICT
41
Among the most controversial and vital problems of the color
ing years are those relating to taxation.
*
Lawyers will further
impair their already declining leadership if they fail to bring
I
disinterested and intelligent influence to bear upon the economic
and legal questions involved.
He is blind to coming events, who fails to see ahead a heavy
and growing tax burden*
This nation, like every organized govern
ment, has shown a constant expansion of functions and a tax rate
that, whatever the promises, shows a steady upward curve*
Emergency
expenditures caused by the economic collapse and the cost of our
economic reconstruction, have already lod Congress to direct a
special inquiry into the operation of our tax laws and into new
sources of revenue*
All political parties have found the power of taxation a
powerful control device*
The uprolectionistsn found a tariff
taxation a powerful, quidk and certain means to divert wealth
- 2 -
from its ordinary economic channels and to concentrate it in the
hands of "infant industries".
How an opposed group seeks to use
the sane power to a different end, to equalise incomes and to redistribute concentrated wealth.
Whether or not they accept either of these extreme positions, ,
all governing groups find taxation a powerful measure of regulation.
Liquor taxation is an old example.
More recent examples are pro
cessing taxes and compensating taxes under the Agricultural Adjust
ment Act, and the new tax on the transfer of firearms and machine
guns, really designed to help suppress crime, and the new 50* tax
on silver profits designed to prevent speculators from growing rich
on the government's silver policy.
The impact of a tax law is not
wholly absorbed by.the field of trade and finance« it jolts the
whole social order.
No more than casual examination of our federal, state and loc
tax structures is necessary to convince you that tax laws are too
often changed, too immaturely thought out, that they are simply a.
patchwork put together by compromises among contending groups.
Private groups seek special advantages or seek to avoid burdens,
and different governmental agencies, federal, state and local,com
pete with each other to get necessary revenues without unfavorable
political results.
It brings despair to those who seek a scientific and equitable
tax system that there is nowhere visiblo a group tnat is at once
informed, influential and unselfish.
With few and notable exceptions,
—3 —
the men who throng national and state capitals when tax laws are
being revised, who provide the information or misinformation, and
the 11sentiment11 that presses laws through, are each agents of a
special cause*
Whatever proposals may be made by the Treasury, or
by such agencies as New York Statens excellent tax department, or
by special committees, no scientific and equitable tax system can
ever become law until there is developed a strong body of sentiment,
sustained by informed opinion and powerful enough to override the
contenders for special advantages*
Bar associations could, if they
but would, contribute powerfully to this cause, but frankly, it seems
hopeless to count on most bar associations for much contribution to
governmental, economic, or social science unless intellectual inertia
bo counted a contribution.
Your program today, considering taxation from several angles,
is a hopeful sign*
The Treasury is making extensive studies of the
operation of tax laws hero and abroad, welcomes discussion of poli
cies,and will gladly cooperate with its resources of information,
statistics and experience with groups everywhere to build up public
interest in and information about the tax problem without#howover,
becoming a party to any group interest propaganda*
Meanwhile, without awaiting more perfect tax laws, we must im
prove the administration of the one we have*
No workable scheme for
decentralizing the federal tax assessing function and spreading it
into the several states or regions, has yet been devised*
Centraliz
ing the function in Washington, to cover our vast and complex national
economy, necessitates a vast machine in the Treasury Department
which,under the name’^Bureau of Internal Revenué1¿has much more
importance to taxpayers than they generally realize»
Kinds and rates of tax, "broad principles of application and
the main outline of procedure, are determined by Congress*
But
upon the Congressional skeleton, the flesh that makes the living
figure is added by Treasury Regulations and Decisions, by General
Counsel*s rulings and, last but not least, by the administrative
attitude of the bureau in individual cases*
The extent of Bureau
power may be realized from the fact that Congress refrained from
enacting a statutory reduction of depreciation rates upon assurance
that the Commissioner, simply by administrative regulation and dis
allowance of unreasonable claims for depreciation allowance, would
add $85,000,000 to the revenues*
The supervision of this vast power, the new administration
has committed to a direct thinking and dynamic Secretary of the
Treasury*
The democratic party, long cast for the role of opposi
tion and criticism, from which it has made but brief and widely
separated ventures into national administration, has developed more
prominently men whoso talents wore adapted to opposition, such as
orators, reformers, critics, political philosophers*
It lias not
had necessity or opportunity to develop so many executives'except
on the narrower state-wide scale*
But in the Treasury, particularly
and I think in all other Departments as well, seal for reform, and
a philosophy of progressivism is not enough to make the "Hew Deal"
- 5 -
effective#
The administration must still face the test of adminis
trative competency#
has conceived#
It must execute with fidelity the designs it
It must steer between the twin dangers of yielding
itself to patronage pressure on the one hand, and of having loyalty
undermined and its work sabotaged by retaining unsympathetic al
though technically equipped reactionaries.
ing sums of money without scandal or waste#
It must handle stagger
As the emergency re
codes and more normal times resume, the emphasis will shift more and
more to a plain test of administrative capacity#
There is a certain
determination in the Treasury, most noticeable in Washington, that
by this test, the Treasury shall not be found wanting#
John Stuart Mill has said:
"The disease which afflicts bureaucratic governments,
and which they usually die of, is routine# They perish
by the immutability of their maxims; and, still more by
the universal law that whatever becomes a routine loses
its vital principle, and having no longer a mind acting
within it, goes on revolving mechanically, tho the work
it is intended to do remains undone#"
Short contact will verify the deadly tendency of the Revenue
Service to "become routine", to "lose its vital principle" and to
*go on revolving mechanically" while a great volume of work accu
mulated#
Moreover, the "immutable maxims" of the Bureau were laid
down and tho routine pretty much cast in the reckless days of rising
markets and declining prudence which preceded the crash#
Wild dis
regard by taxpayers of their own expenditure, shameless exploita
tion of stockholders by corporation executives through salary and
-
6 -
"bonus and reorganization devices, were the order of that day.
The
whole atmosphere of financial laxity and horse trader ethics which
prevailed in the "business world could not fail to have its reflec
tion in the government service*
The age of $8 bootleg liquor, of
watered holding company stocks, of fabulous stock narket profits on:
paper, which became the basis of private cash extravagance, was also
the age of big depreciation allowances, approval of wash sales, easy
compromises of taxes*
In an ora when, as we now see, not one of us
took real heed of his own interests, could it be expected that the
interests of the government would be more strictly guarded?
Different times have taught different standards to business and
government.
To reanimate the service, to make the non-Civil Service officials
give undivided allegiance to the government and to break up the prac
tice of generations by which the collectors of taxes were also collec
tors of political assessments, to overcome also the inertia and ob
structive spirit of those who are entrenched in the Civil Service, to
guard against favoritism or advantage, to stop the holes poked in
the law by clever lawyers in aid of powerful clients, is the task
bequeathed to this administration.
Such is the task for which those
working in the new administration generally have been decorated with
the title ’’misguided bureaucrats, who ignore history” by that superb
anthology of platitudes and epithets recently promulgated as the
’’Republican Declaration of Policy,”
Tile income tax law is citizen—administered in the first ii&»
stance«
The individual citizen reports his transactions, confesses
his income and even makes the computation and assesses himself the
amount of his tax.
In applying a technical law which few have read,
and voluminous regulations known to fewer, and opinions and decisions
some of which are not even published, errors will he made »differences
of opinion will arise.
In spite of some widely reported cases of tax evasion, I am
convinced that the honor of the taxpayer has not failed hut that it
is, and always must ho, the greatest force in income tax collection*
Looking at a cross section of tho work of 1933, and using even thou
sands, 4,798,000 taxpayers filed returns, the government claimed
deficiencies against 85,000 and admitted over—assessments against
45,000.
In that year, after all negotiations were over, the govern
ment issued 17,700 deficiency letters and taxpayers took 6,597 appeals
Settlements are reached without trial in about two-thirds of these
appealed cases,
I claim no finality for statistics in matters of this kind.
Discovered understatements of income may he no measure of those un
discovered,
Grievances appealed may he no measure of grievances
home, because of weariness or inability to finance further protest*
But for whatever they are worth, the statistics do show annually only
about 2,000 actual litigations, and differences of opinion were even
tually reconciled, except in cases numbering about l/20 of 1$ of re
turns filed*
If there be any general disposition by taxpayers to
hold out on the government or by government to harass taxpayers, it
is not capable of statistical proof.
8 —
There was a tendency in the bureau upon creation of the Board
of Tax Appeals to claim the greatest possible tax and let the Board
go into the evidence carefully for the first time and determine the
tax.
Such a policy of tax assessment hy litigation was probably
never intended by Congress bat it came near to being the result.
Changes in procedure and organization of the Commissioner^ office
to overcome that tendency have been made.
The Commissioner, before
sending a deficiency letter to any taxpayer, makes careful audits
and field investigations, holds conferences with the taxpayer or
his counsel and makes every effort to act only upon full informa
tion and consideration.
Such a policy, though not yet fully re
flected in pending cases, has contributed largely to the falling off
in number and percentage of appeals taken#
Of course the government will always be obliged to litigate
many cases.
Taxpayers are better informed and often have bettor
access to sources of evidence than the government.
The Bureau must
often: assert the tax on doubtful points of law in order to obtain
guiding decisions.
If administrative officers concede the point,
the revenues have no redress, while if it is asserted in error the
taxpayer has remedy.
But we do aim at substantial improvement in
the percentage of government success through more careful analysis
of cases before trial.
Delays in hearings invite appeals to obtain time.
Delay results
in heavy losses to the revenues through insolvency, dissipation of
assets and devices to defeat collection.
9
Steps to clear calendar congestion were early taken.
refusals of postponements 'brought cases on.
Rigid
Conferences with tax
payers and counsel result in agreement on some and often on all
issues when the date of trial is near at hand.
operating by working at top speod.
16,902 cases and June 1*
June lf
The Board is co
1933, saw pending
1934 saw them reduced to 11,099, of which
1944 have been tried and are under submission or awaiting decision,
thus remaining to be heard 9,155.
At the end of May, 1933, pend?
ing litigation before the Board involved $776,800,000, and at the
end of May this year it was reduced to $442,600,000.
These figures are prophetic of a not too distant day when de
lay will no longer vex or advantage the taxpayer.
Compromise of tax, penalties or interest liability to the
government is considerably restricted.
Congress has given tax lia
bility a preference as to assets and priority of payment over general
creditors of the taxpayer, and has provided that the liability is not
to be discharged by bankruptcy.
Those provisions, to our minds,
point to a policy of strict collection.
It is our understanding that the power given to the Secretary
of the Treasury to compromise, is lawfully exercised only where there
is doubt as to the liability of the taxpayer or the collectibility of
the tax.
Regardless of formor policies, wo now hold that on undis
puted liability, which by reason of the preferences, or lien provision
of the law, is actually collectible, presents no case for compromise,
even though the taxpayer is embarressed or insolvent.
We compromise
-10-
in the same circumstances, and only to the same extent that a good
hanker does —
we compromise only when we cannot collect.
Compro
mise because of alleged ’’equities” or reasons of ’’public policy” are
no longer considered.
It is urged that this rule is severe
have yet to learn of a tax that does not.
and causes hardship.
I
A tax that is only col
lected from those who find it convenient to pay is not a tax; and
few taxpayers live who cannot make out a case of hardship.
Taxpayers
often neglect to set aside reserves to pay income tax and then use
their improvidence as a club to compel compromise lest a business
be closed or employees deprived of work, or other creditors pre
judiced or credit injured.
Too often these claims are not true
or
are exaggerated by the taxpayer who wishes to blame the government
for a failure that would have happened even if there never had been
an income tax.
A liberal compromise policy which waives the claims of the
Treasury for consideration of ’’public policy” or hardship is in>possible of administration without creating a favored class of tax
payers, and without creating many real discriminations, which give
rise to stories of compromise by influence and partiality.
It shifts
the burden of the taxpayer who has not provided for the claims of
his country upon those who have, keeps the improvident in competition
with the sound, fills the revenue bureau with taxpayers and attorneys
crying for special favors and too often getting them.
Meanwhile,
the taxpayer who seeks no special favors but makes every sacrifice
to meet his own burden, has shoved onto him also the burden of those
-
relieved on claim of
hardship .
11
-
If the present policy seems severe,
let it have credit for being impartial.
Refunds and abatements of tax are made in those cases where
it is apparent that the taxpayer has overpaid or has been over
assessed,
No allowance is made unless it is clear that the taxpayer
has a case which he could establish in court.
Nothing has contributed so much to criticism of Treasury policy
as public misunderstanding of the published figures on refunds and
abatements.
There are some cases where the taxpayer has overpaid by reason
of his misunderstanding of the tax law or where an excessive amount
has been collected by action of the Bureau,
It would be a shabby
Government that would not correct such mistakes.
These refunds are
carefully audited and investigated and subjected to the examination
of the Congressional Joint Committee on Taxation where the amount
exceeds $75,000,00,
There are cases where the statute of limitations is about to
expire, or for some other good cause the tax liability could not be
carefully investigated in the time permitted.
In those cases, to
protect the interests of the Government, an assessment of the maximum
possible amount has been made, with the.result that a more careful
auditing frequently obliges the Bureau to make abatement because the
amount is overstated.
Under the estate tax law, estates receive certain credits upon
their Federal taxes for amounts paid to the State.
These are pub-
-
12
-
lished as refunds or abatements, when as a matter of fact they are
not refunds at all in any proper sense of the word, and their pub
lication under this heading is misleading.
Such credits are allowed
by law; the Bureau has no option about it and they do not ordinarily
involve a repayment of money.
They simply lessen the amount due to
tho Federal Government.
Another class of cases causes misunderstanding.
actual case as an illustration —
To use an
a deficiency of approximately one
million dollars was assessed against a corporation.
Because it made
a joint return with affiliated companies some seventy other companies
were also liable.
The same tax was assessed against each of them.
Therefore seventy million dollars of tax was written on to the books
of the Government, although only one million dollars was ever due,
but each and any one of the seventy taxpayers was liable for it.
The same thing happens in the case of transferees where the transfer
of a taxpayer’s assets without the payment of the tax may make many
transferees liable, and the full amount of such tax is assessed
against each, although one payment discharges the entire liability.
The result is that when one pays, there must be an abatement or write
off of the tax as against all of the others.
ing produces an absurd result.
The method of account
If a private banker kept his books
on such a basis, he would be accused of inflating his assets, and
properly.
Yet the impression is given out that some one has been
relieved of a tax, when in fact the amount was never owing except
secondarily, and was paid by the primary debtor.
- 13 -
The answer to the question whether refunds and abatements are
made is Yes, provided the taxpayer can prove by clear and convinc
ing evidence that he is entitled to them, and that he would get
than in court anyway.
The policy is a strict and somewhat technical
one.
Criminal prosecutions for fraud are recommended by the Treasury
where evidence indicates, in the language of the statute, ’’fraud
with intent to evade tax.”
While the present Treasury policy toward fraud is more severe
than in times past, it is not as has been portrayed, an undiscrim
inating severity.
Its procedure now, as heretofore, is designed to
avoid groundless prosecution as well as to assure deserved ones.
When a deputy or agent suspects a fraud, the investigation is
taken over by the experienced investigators of the Intelligence Unit.
It is the invariable policy of that Unit to give the taxpayer an op
portunity to present his version of the facts and his arguments in
defense of his conduct.
The history of that Unit shows that of the
suspected cases investigated, it has recommended prosecution in
about 25$.
This recommendation goes to the Genera! Counsel’s Office, where
it
and the record
are reviewed by experienced lawyers of the Penal
Division, to make sure the evidence meets legal requirements.
payers are again heard often, in person and by counsel.
Tax
This review
is not merely formal, for only 51$ of the cases received are referred
out to the Department of Justice for prosecution.
- 14 -
The result of this care has boon, over the years, a record of
unparalleled success.
Of the cases recommended by the Treasury for
prosecution, conviction or pleas of guilty have been had in 93,27$.
Those prosecuted have included public officials, movie actors, lawyers,
business men and racketeers.
They include those listed as public
enemies, like A1 Capone of Chicago and Waxey Cordon of New York, and
also men of such influence as to be able to call as character wit
nesses the Governor of a State (not New York) and Mayor and a former
Mayor of a great city.
The effect of a conservative policy of pro
secution. with a large percentage of success was well expressed by
a Los Angeles paper upon the collection of $75,000 in taxes and con
viction of a magician with the stage name ”The Man Who Knows,”
The
headline read ”Man Who Knows All Learns It does not Pay to Fool with
Internal Revenue Department,”
The Treasury will not break down this
wholesome respect of groundless recommendations for prosecution.
I wish also to make plain that no collector,deputy, or revenue
agent whatever has authority to threaten any citizen with prosecution
in order to compel agreement with proposed tax changes.
No prosecu
tion will bo permitted or threatened for a difference of opinion, nor
to punish a taxpayer who asserts what he believes to be his rights,
oven if the Department disallows his claim.
We make no recommenda
tion for prosecution and (except for rare jeopardy assessments) no
assertion of a ffaud penalty except after hearing the taxpayer*s side
of the case, after careful investigation of what he claims to be the
facts and after careful sifting of the evidence by experienced lawyers.
- 15 -
The principal changes in Bureau policy as related to criminal
cases
are involved in the treatment of voluntary disclosure and tax
sale or "wash sale11 cases.
The taxpayer who has committed a fraud, and does not sleep well
o*nights, either because of conscience or more likely because of
the activities of revenue agents, can no more buy his peace by volun
tary disclosure and mere payment of the tax.
He must now also pay
tho civil penalty of 50$ of the tax and the interest at 12$ as fixed
by the lav/ if he would be excused from criminal prosecution.
Con
fessions are still heard but penance is more fitting the offense,
More than a few citizens can testify that tax frauds are very un
profitable and that from the government few secrets are hidden.
Sales of securities to establish loss have given rise to many
charges of fraudulent practice, and the policy of the Treasury in
reference to them has abruptly changed.
Of course a good faith sale,
resulting in a complete separation of the taxpayer from the owner
ship, benefit, and control of a security and resulting in a loss, is
the basis for a deduction.
Less than this raises doubt and may, in
some circumstances, be fraud.
The Treasury now treats trick stock
sales the sane as any other kind of fraud.
■One would be rash to attempt to define the boundaries of fraud.
It does not include good faith difference of opinion as to facts, or
as to their legal effect.
It does include all deliberate and intenr*
tional acts or omissions, and every trick, artifice, and pretense
which results in a deception or material concealment.
Between these
-
16
-
two extremes appearances often exist which men of good faith and
honest dealing are careful to avoid and others allow at their peril.
Questions arising in the minds of taxpayers wore answered by
their lawyers, such as these:
“Can I sell to my wife?“
terms?“
"Can a sale he made upon credit
“Can I buy it back having once sold it?“
Then the taxpayer and the sharp practicing lawyer attempted to
combine all of these elements into one transaction and omitted entire
ly the ever present requirement of good faith.
their wives that the wives never knew about.
Men made sales to
In some instances large
blocks of securities were sold to a Secretary of no means and small
income, who put up no money and never knew that she owned the property.
Deductions were claimed for mere bookkeeping entries, and for trans
actions that were no nearer real sales than the moving of securities
from one safe deposit box to another.
We hold that only sales which are sales may be the basis for
a deduction, and any sale that is a trick to present the appearance
of sale, without its substance, is a fraud.
Taxpayers who had come to accept the tax sale as an approved de
vice, or who on past experience or bad advice had come to rely on
Treasury approval of such attempts to reduce taxes, now find them—
solves in an embarrassing position.
But no one can acquire a vested
interest in tax evasion.
Tax lawyers are a necessity because the tax law and regulation
and their application present technical and controversial questions.
It is the policy that the taxpayer who employs no counsel shall receive
- 17 fair and equal treatment.
But most taxpayers feel insecure without
thoir own advisers, and a tax har with many honorable and able
members presents cases to the Bureau, the General Counsel’s office,
tho Board of Tax Appeals, and to the courts, with skill and fidelity
to the ideals of our profession,
But they are not alone.
The shyster tax lawyer, like his blood
brother in other specialities, challenges the profession as well as
the Treasury,
However apt the public may be to blame the whole pro
fession for the delinquencies of the few, we know that the legal
profession collectively has less control over the conduct of its
individual member than does the bricklayer’s union over the conduct
of bricklayers, or the Railway Brotherhoods over the conduct of train
men,
To prevent or punish lawyer misconduct,we are unable to rely
upon any established discipline by professional associations.
Splen
did as are isolated examples of Bar Association activity in dealing
with professional misconduct, the associations really effective are
few and local.
State and National Bar Associations are usually with
out the implements and too often without the motive or the will to be real
governing professional bodies.
If we dealt with lawyers alone, the
problem of discipline would be left on our door step by the profession’s
default.
But the problem is complicated because departmental practice is
not limited to the legal profession.
Many lawyers avoided tax prac
tice and in some sections that field was almost abandoned to the
accountant.
Upon many occasions justice requires that the taxpayer
-
18
-
“be allowed representation by an employee, or an agent, who is neither
lawyer nor accountant*
From this mixed bar of lawyers, accountants and. agents, arc ex
perienced two principal difficulties.
One is the lawyer whose bid
for business is some slick scheme to outwit the Treasury and evade
tax*
Conservative and honorable lawyers, whose habit has been to
advise clients against tricks and deception to evade taxes,have seen
their clients taken away by the solicitation of sharp practitioners
who claimed to have safe schemes of evasion.
The lawyer got the fee,
the client, who signed the return, thought he had closed up a sharp
deal with the government.
His harvest of grief was a long time
maturing, for the government moves slowly, and the conservative
advisor*s business meanwhile slipped into the hands of the solicit
ing competitors.
The second evil is the lawyer, also usually a solicitor, whose
bait is the claim of political or personal influence, or inside know
ledge not available to general practitioners.
It would be rash to say that no case was, or is, or shall be
helped by political influence or personal relations.
as my general observation —
But I give it
and my bureau connection is so brief
that I have hardly become defensive minded, that the statement is
hardly self serving —
that if a taxpayer wanted to prejudice his case
the most certain method would be to employ a political lawyer, not
ordinarily connected with his business and obviously employed for his
prominence and alleged influence.
It arouses resentment in the
honest official, and puts even a weak or unfaithful one on his guard*
- 19 -
If the public understood that it pays such men extravagant fees only
to ?oave cases subjected to suspicion
and double check, the political
lawyer*s sucker list would be gratly diminished,
I can give no
better advice to those in troxible with the Bureau than to say "Don’t
underestimate the integrity of the men you deal with,"
James M,
Beck, unsparing in his criticism of the Federal Government says,
"I state as my belief that while today it is too complex, and need
lessly large, yet in integrity it need yield to that of no other
nation,"
The Treasury administration is determined that its responsi
bility for the character of the Treasury bar shall be discharged
with strictness and vigor.
Regulations are to be revised, enroll
ment will be granted only after searching investigation by the
Intelligence Unit and disbarment will be freely used where offenses
against fair dealing are revealed,
A pronounced stiffening of the
disbarment policy is already noticeable to one who follows the course
of events in the department.
It is possible that enrollment for an indefinite period will
be abolished and enrollment for not to exceed three years substituted
so as to insure revision of the list and fresh scrutiny of the bar.at
stated intervals.
Also every one who advises a taxpayer in the preparation of his
tax return must now be named in the return.
fixed at the time the return is made.
Responsibility will be
It cannot be later shifted on to
a lawyer who has obligingly died, nor can an honest advisor be blamed
for schemes ho never advised,
-
20
-
In dealing with this troublesome problem of maintaining a
Treasury Bar of lawyers, accountants and agents of high standards
of ethics and intelligence, it is the purpose to avoid all unneces
sary suspicion toward and vexation of those who would practice be
fore the department.
In framing new regulations and in their en
forcement, there will be three purposes in mind,
First.
To protect against fraud and waste, the subject of its
special trust, the revenues of the United States,
Second.
To protect the taxpayers against dishonest or tricky
advice which leads them to trouble and controversy,
Thirdt
To protect honorable lawyers who give clients faithful
advice, against the unfair competition of slickers whose stock in
trade is fraudulent practice or false claims of influence.
The Treasury never has, and probably never will, rank as a
popular or even a well understood department of government ,
But in
these last two troubled years, when the credit of almost every bank,
every business and every municipality trembled, the Treasury of the
United States has stood almost solitary in its unshaken credit,
Tho
present tax policies of the Treasury are dictated by a high sense
of responsibility for the integrity of the revenue system upon which
economic existence
as well as economic reconstruction depend.
Treasury Department
Washington
Press Service
For immediate release
August 20, 1934
Vo* 2 •" Cs>tj*
Storekeeper-gaugers in the employ of the Treasury Department
will not he permitted hereafter to gauge distilled spirits or other
liquors and accept M l
concerns,
compensation for doing so from
commercial
according to a treasury decision announced today by
Wright Matthews, Acting Commissioner of Internal Revenue^
The decision wuh
approved by the Secretary of the Treasury, Henry Morgenthau, Jr«/
The practice of permitting storekeeper-gaugers to accept pay for
gftngiwg spirits commercially, vhen not assigned to official duties, arose
at a time when such employees were paid
on a per diem or fee basis«
became full-time employees, on an annual M
salary basis in 1929«
The collection of the tax on distilled spirits is based on the
gauge made by the storekeeper-gauger«
The text of the Treasury Decision
follows}
They
TREASURY DEPARTMENT
Washington
IMMEDIATE RELEASE,
August 20, 1934.
for
Press Service
m
2 ~ 64
Storekeeper-gaugers in the employ of the Treasury Department will not he
permitted hereafter to gauge distilled spirits or other liquors and accept con>.
pensation for doing so from commercial concerns, according to a treasury decision
announced today hy Wright Matthews, Acting Commissioner of Internal Revenue, and
approved by the Secretary of the Treasury, Henry Morgenthau, jr.
The practice of permitting storekeeper-gaugers to accept pay for gauging
spirits commercially, when not assigned to official duties, arose at a time when
such employees were paid on a per diem or fee basis.
They became full-time em
ployees, cn an annual "salary basis,in 1929.
The collection of the tax on distilled spirits is based on the gauge made
by the storekeeper-gauger.
The text of the Treasury Decision follows:
uExcept as required in the performance of his official duties, no
storekoepor-gauger or other officer, or employee, of the Internal Revenue
Service, shall gauge, or supervise the gauging of, any distilled spirits
or other liquors, or reinspect any spirits reduced in proof; Provided,
That where spirits are reduced in proof at the bonded warehouse at the
time of removal, the spirits may be reinspected by the storekeeper-gauger,
but no fee, or other compensation, shall be charged or accepted for such
reinspection.
Paragraphs 153, 154 and 155 of the Gauging Manual, effective January
1, 1934, and all other regulations, orders or instructions inconsistent
herewith are hereby revoked.n
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Tufsdi^f| August 21, 19S4t
Press Sendee
^ ^ ^ < r
Secretary of the Treasury Morgenthau announced
last evening that the tenders for $75,000,000, or
thereabouts, of 182-day Treasury bills, dated August 22,
1934, sad maturing February 20, 1935, which were offered
on August 17, were opened at the Federal reserve banks
on
August
20, 1934*
The total amount applied for was $254,800,000, of
■which $75,090,000 was accepted*
The accepted bids ranged
in price from 99*906, equivalent to a rate of about 0.19
percent per annua, to 99.875, equivalent to a rate of
about 0.25 percent per annua, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted.
The average price of Treasury bills to be
issued is 99.885 and the average rate is about 0.23 percent
per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MOR3TOTG- PAPERS,
Tuesday, August 21, 19340
8-20-54
Press Service
No. 2 - 6 5
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75,000,000, or thereabouts, of 182-day Treasury bills, dated
August 22, 1934, and maturing February 20, 1935, which were offered on
August 17, were opened at the Federal reserve banks on August 20, 1934.
The total amount applied for was $254,800,000, of which $75,090,000
was accepted.
The accepted bids ranged in price from 99.906, equivalent
to a rate of about 0.19 percent per annum, to 99.875, equivalent to a
rate of about 0.25 percent per annum, on a bank discount basis.
part of the amount bid for at the latter price was accepted.
Only
The average
price of Treasury bills to be issued is 99.885 and the average rate is
about 0.23 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
August 23, 1934.
Press Service
No. 2 - 66
Six members of the United States Coast Guard have been commended
by Admiral H. G. Hamlet, Commandant, for prompt and efficient perform
ance of duty recently which resulted in the saving of life, it was
announced today.
Assistance to drowning persons and resuscitation
were included in the citations.
A copy of the commendation will be
filed in each case with the official service record of the Coast
Guardsman.
Those receiving the commendations were:
Surfman R. V. Herron,
Motor Machinist *s Mate (2nd Class) L. L. Croy, Surfman G. L. Elkins,
Jr., and Surfman Y. W. Gardner, all of the Yaquina Bay Station, Oregon;
Surfman Edward A, Connelly, Louisville Station, Kentucky; and Surfman
Robert P. Stalcup, Cape Disappointment Station, Washington.
bottle of Imported liqttor wist have e^hm /^em f istamp attached
before It li permitted to leave costone custody, according to a Hke&sury
dnisiait
decision announced today*
Imported liquor
elrm A y on the market m a t he
stashed in similar fashion before September 15, 1934*
Heretofore Imported liquor v&s not required to be stamped ■»*»
as long
as It remained la the ease la shieh It «as Imported, the stamps being affixed
to the bottles
«hen the eases «ere opened by the dealer*
"Bo distilled spirits Imported In bottles shall bo released from easterns
custody", the decision states, "until there has boon affixed to each bottle,
under the supervision of a customs officer , * * the strip stamp repaired
by fltle
XX of the Llqudr fhxing Act of 1934"*
Bxpoases la connection id,th the opening of cases and affixing of stamps
must be borne by the importer.
Dealers or importers having In their possession any Imported distilled
splSlts In bottles, «hich hare been released from customs custody, must,
before September 15, 1934 gfcfeec attach the required stamps. Bottles of
iisported distilled spirits found on the market on or after Spetember 15,
not having the required strip stamps attached thereto,
forfeited to the United States.
will be
\
TREASURY DEPARTMENT
Washington
K)R IMMEDIATE RELEASE,
Saturday, August 25, 1934.
Press Service
No. 2 - 6 7
Each bottle of imported liquor must have a strip stamp attached
before it is permitted to leave customs custody, according to a
Treasury Decision announced today.
Imported liquor already on the.
market must be stamped in similar fashion before September 15, 1934.
Heretofore imported liquor was not required to be stamped as long
as it remained in the case in which it was imported, the stamps being
affixed to the bottles when the cases were opened by the dealer.
"No distilled spirits imported in bottles shall be released
from customs custody11, the decision states, nuntil there has
been affixed to each bottle, under the supervision of a
customs officer . . . the strip stanp required by Titlo II of
the Liquor Taxing Act of 1934”.
Expenses in connection with the opening of cases and affixing
of stamps must be borne by the inporter.
Dealers or importers having in their possession any imported dis
tilled spirits in bottles, which have been released from customs custody,
must, before September 15, 1934 attach the required stamps.
Bottles of
imported distilled spirits found on the market on or after September 15,
not having
the required strip stamps attached thereto, will be forfeited
to the United States.
(T. D.4464)
Stamps to be attached to 'bottles
of imported distilled spirits.
TREASURY DEPARTMENT
Office of Commissioner of Internal Revenae,
Washington, D. C*
TO COLLECTORS OP INTERNAL REVENUE, DISTRICT SUPERVISORS,
COLLECTORS OP CUSTOMS, AND OTHERS CONCERNED:
Paragraph 3, of Treasury Decision 4418, as amended "by Treasury
Decision 4429* is hereby further amended to read as follows:
"Par. 3 (a) No distilled spirits imported in bottles
shall be released from customs custody until there has
been affixed! to each bottle, under the supervision of a
customs officer in a bonded warehouse, the strip stamp
required by Title II of the Liquor Taxing Act of 1934.
At ports where there is no bonded warehouse, no distilled
spirits imported in bottles shall be released until the
strip stamps have been affixed to the bottles under the
supervision of a customs officer,
" (b) Expenses of cartage, storage, repacking,
handling or other labor connected with the opening
of cases and affixing of stamps to the bottles, shall
be borne by the importer.
H(c) There, shall be indelibly stamped upon each
case by the customs officer supervising the affixing
of strip stamps to bottles, the following legend:
Port of_________
__________;_____
(Month)
____ , 193 .
(Pay)
This is to certify that on this date the
strip stamps required by the Liquor Taxing
Act of 1934 were affixed, under my supervision,
to the bottles of distilled spirits contained
herein, consisting of _________ _________~
(number of bottles)
(size of bottles)
(Name)
(Official designation).
(over)
- 2 -
(T. D. 4464)
Rubber 'stamps ‘bearing the above legend will he furnished by
‘the Bureau of Customs upon requisition therefor.
M(d) These instructions shall be effective as to
distilled spirits in customs bonded warehouses on the date
of receipt by you of these instructions, and as to importa
tions made on and after September 15, .1934.
11(e) Dealers or importers having in possession any
imported distilled spirits in bottles, which have, been
released from customs custody, shall, prior to September
:15, 1934, attach the strip stamps required by Title II
of the Liquor Taxing Act of 1934. Any bottles of imported
distilled spirits found on the market on or after Septem
ber 15, 1934, not having the required strip stamps attached
thereto, shall be forfeited to the United States."
MIGHT MATTHEWS,
Acting Commissioner of Internal Revenue.
FRANK DAW,
Acting Commissioner of Customs,
Appro.ved:
August 24, 1934.
E, MORGÉETHAU, JR.,
Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
August 27,
1934,
i
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended August 24, 1934:
| f jf * -'* -* -'
'
San Francisco.••«•»••••........•
Denver........................
Total for week ended Aug. 24.
374,526.65 fine ounces
1.977.00 "
n
376,503.65 **
”
Total receipts of silver through August 24, 1934:
11,698,000 fine ounces
SILVER TRANSFERRED TO UNITED STATES:
Week
9 & K °f AUgUEt 9' 19S4)
Philadelphia.......
3,952 ounces
San Francisco............
3,817,650
M
Denver...................
5,602
n
New York................. 22.260.815
"
Total for week ended Aug.24 ... 26,088,019 ounces
Total receipts of silver through August 24, 1934:
59,553,110 ounces
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended August 24, 1934: _____ Imports__________ Secondary_______ New Domestic
Philadelphia........$
3,742.55
San Francisco.
953,873.25
U e n v e r . •
11,642.00
New York. 2,329,450.00
Seattle............
...
New Orleans.
18.128.54
Total forthe week.
$3,316,836.14
$
289,860.07
153,851.69
38,430*00
843,200.00
19,238.98
56.741.69
$1,401,302•43
$
59.85
596,070.49
586,578.00
531,082.70
—
$1,713,591.04
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER!S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks•
Week ended August 22,1934...
deceived previously.... .
Total to August 22, 1934..
Gold Coin_______ Gold Certificates _
$
38,157.33
28.840.181.49
$28,878,338.82
$896,220.00
66.415.950.00
$67,312,150.00
Received by Treasurer*s Office*
Week ended August 22, 1954..
$
....
$
7,600.00
Received previously......
250.994.00
1,6 8 8 .000.00,...
Total to August 22, 1934..
"1|
250,994.00
$ 1,695,600.00
NOTE: Gold bars deposited with the New York Assay Office to the
¿T amount of $200,672.69previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the week.............. $10,798,000.00
D ist.
S t i l l s SapaciS p ir it s
Seized
ty
No.
S tate
1.
Conn.
1
75
Maine
-
-
Mass*
4
3,075
647
N.H.
«Mr
-
-
R .I.
-
«
Vt.
1
1
Mash
9
i4 é * ^
202
tm
« ,
1Lutos
value oi
rrucks Property
1,190
-
-
200.
-
1
-
1,670.
5,300
1
-
13,215.
«
-
-
mm
2
MM
MM
«
MM
Value of
Property
Destroyed
¿««I
1
MM
i
1,370.
1j
5,500.
e;
to
-
-
1,238.
1,688.
*
3j
m
MM
8,108.
11 i
TOTAL
5
3,150
998
6,490
4
-
$ 16,773.
N.T.
8
696
520
2,727
1
-
|
6,609. |
985.
11
2*
3.
Penn.
5
185
374
4,682
3
2
$
3,721.
567.
11
4.
D el.
-
MM
13
-
2
-
$
1,100.
N.J.
1
250
300
1,800
MM
-
TOTAL
1
250
313
1,800
2
-
$
4,500
2
-
$
$
5«
DoC
.,,
•
•
200
■>
33
■
J
-
200.
2
*
200.
6
400
$
100
7
535.
$
135.
25
200.
1,300.
203
433
6,310
2
1
11
780
266
13,950
1
-
349.
274.
33
Va.
8
2,300
298
14,200
3
-
2,990.
1,530.
12
W.Va.
7
219
118
925
1
MM
TOTAL
33
3,702
1,203
39,885
8
1
#' 4,650.
A la.
20
7,400
210
5,350
1
-
$
F la .
7
1,200
468
5,570
3
-
3,006.
1,535.
1
4
Ga.
11
1,860
89
8,450
-
-
1,261.
1,261.
14
10
1,030
110
14,640
6
-
432.
22.
48
LI,490
870
34,010
10
-
N.Car.
1*
‘•■I'-if1
r
6
Md.
1
S E ]C Z ü R E S
S.C ar
TOTAL
.
376.
$
975.
5,674.
t
r
b
301.
19 (
8,840«
96 !
925.
3,743.
—
48
¿d
h> bd
REPORT Of ACTIVITIES OF INVESTIGATORS
OF THE ALCOHOL TAX UNIT
Compiled from Fona L-191
Week ending August 18,1934,
TREASURY DEPARTMENT
Washington
Press Service
No. 2 - 6 8
for immediate release,
August 27, 1934,
ACTIVITIES OF INVEST IG-ATuRS.
ALCOHOL TAX UNIT, FOR WEEK ENDING- AUGUST 18t 1934.
(Corrected statement "based on complete weekly reports
of investigators).
List,
No.
1
States
Conn.
Maine
Mass.
N. H,
R. I*
vt.
Stills
Seized
1
4
Capacity
75
3,075
Gals. of
Spirits
Seized
9
140
647
Gals, of
Mash
Seized
Autos &
Trucks
Seized
202
Arrests
1
1
200
1,670
13,215
1
1
6
2
1,688
3
$
1,190
5,300
Value of
Property
Seized
TOTAL
5
3,150
998
6,490
4
$16,773
11
2
N. Y*
8
696
520
2,727
1
$ 6,609
11
3
Penn,
5
185
374
4,682
5
$ 3,721
11
4
Del.
N. J.
2
1
250
13
300
1,800
$ 1,100
200
4
2
TOTAL
1
250
313
1,800
2
$ 1,300
6
D. C.
Md.
N.Car.
Va.
ïï. Va.
1
6
11
8
7
200
203
780
2,300
219
88
433
266
298
118
4, 500
6,310
13,950
14,200
925
2
3
$
$
TOTAL'
33
3,702
1,203
Ala.
Fla.
Ga.
S.Car.
20
7
11
10
7,400
1,200
1,860
1,030
TOTAL
48
Ky.
Tenn.
TOTAL
5
6
7
3
1
400
535
349
2,990
376
7
25
33
12
19
39,885
9
$ 4,650
96
210
468
89
110
5,350
5,570
8, 450
14,640
1
3
$
6
975
3,006
1,261
432
13
4
14
17
11,490
870
34,010
10
$ 5,674
48
26
17
1,267
1,555
225
242
10,880
15,090
3
3
$ 4,178
2,920
32
6
43
2, 822
467
25,970
$ 7,098
38
- 2
p9 ^ _
p
V Dist.
1 Mo.
8
ih
9
p
10
11
•k
P
12
1
13
Capacity
Gals. of
Spirits
Seized
Mich,
Ohio
4
4
860
300
601
196
6,975
3,800
4
$ 1,929
829
9
6
TOTAL
8
1,160
797
10,775
4
$ 2,758
15
111.
Ind,
Wise.
10
4
1,715
230
427
75
76
59,460
1,405
2
1
$ 2,642
100
450
16
1
3
TOTAL
14
1,945
578
60,865
3
$ 3,192"
20
La.
Miss,
Texas
8
11
9
330
725
655
733
87
198
1,282
1,080
3,962
3
6
5
$ 4,809
1,046
1,405
20
18
35
TOTAL
28
1,710
1,018
6,324
13
$ 7,260
73
Ark.
Kans.
Mo.
Okla.
3
2
2
4
500
80
310
300
59
6
250
229
3,500
95
850
1,500
2
$
1
2
705
100
625
586
13
1
10
19
TOTAL
11
1,190
544
5,945
5
$ 2,016
43
Iowa
Minn,
Ueh.
U.Dak.
S.Dak.
1
11
1
1
1
700
775
55
2,950
2,795
500
3
1
1
$
75
430
151
88
269
54
35
8
13
3
1
2
TOTAL
15
1,605
992
6,245
$ 1,696
25
3
3
2
2
2
130
75
55
125
500
27
269
7
41
8
500
350
260
790
50
$
12
885
352
1,950
$
Ariz.
Colo.
H.Mex.
Utah
TOTAL
1 14
Calif,
Uev,
1
G-als. of Autos &
Mash
Trucks
Seized
Seized
p;
365
715
581
Arrests
50
105
402
75
5
6
4
4
4
632
23
Mot reported
TOTAL
15
l
i
•
O
I?
1
i
Value of
Property
Seized
Stills
Seized
States
Idaho
Mont,
Ore.
m ash.
Mot reported.
TOTAL
J5RAED TOTAL
231
30,790
9,033
r
207,668
66
'' ' .... *" "•**
$63,379
420
"" ■'.. . ...... — .. . -
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Tuesday, August 28, 1934«
Press Service
|
Secretary of tie Treasury Morgenthaa announced
last evening that the tenders for $75,000,000, or
thereabouts,
if
182-day Treasury bills, dated August 29,
1934, and maturing February 27, 1935, which were offered
on August 24, were opened at the Federal reserve banks
on August 27, 1934*
The total amount applied for was $299,185,000, of
riiieh $75,065,000 was accepted.
The accepted bids ranged
in price from 99*900, equivalent to a rate of about 0*20
percent per annum, to 99*886, equivalent to a rate of about
0*23 percent per annum, on a bank discount basis.
Only part
of the amount bid for at the latter price was accepted.
Tbi
average price of Treasury bills to be issued is 99.889 and
the average rate is about 0.22 percent per annum on a bank
discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,
Press Service
Tuesday, August 28, 1934.
8-27-34
“
~
U0# 2 - 69.
Secretary o f the Treasury Morgenthau announced l a s t evening
that the tenders fo r $75,000,000, or thereabouts, of 182-day
Treasury b i l l s , dated August 29, 1934, and maturing February
27, 1935, which were offered on August 24, were opened at the
Federal reserve banks on August 27, 1934.
The to ta l amount applied fo r was $299,185,000, of which
$75,065,000 was accepted.
The accepted bids ranged in price
from 99.900, equivalent to a rate of about 0.20 percent per
annum, to 99.886, equivalent to a rate of about 0.23 percent
per annum, on a bank discount b a s is .
Only part o f the amount
b id fo r at the l a t t e r p rice was accepted.
The average price
o f ireasu ry b i l l s to be issu ed i s 99.889 and the average rate
i s about 0.22 percent per annum on a bank discount b a s is .
TREASURY DEPARTMENT
Washington
FOR REDEA.SE, MORNING NEWSPAPERS,
Wednesday, August 29, 1934,
8-28—34.
P ress Service
No. 2 - 70.
A speech to "be delivered Tuesday, August 28, 1934 at 8:00 p.m.
Eastern Standard Time, "by the Secretary of the Treasury, Henry
Morgenthau, J r . , over a nation-wide jo in t hook-up o f the National
Broadcasting Company, Columbia Broadcasting System, and American
Broadcasting Company.
THE TREASURY >S FINANCES
I propose tonight to d iscu ss with you the cost of the New Deal.
I w ill
avoid the jargon of the usual fin an c ial statement and w ill try to give you in
plain language a concise but complete explanation of the e sse n tia l f a c t s .
On March 4, 1933, when the present adm inistration came into o ffic e , the
gross public debt o f the United S ta te s stood at a l i t t l e le s s then
$21,000,000,000.
By June 30 o f th is year i t had in creased to $27,000,000,000,
or an in crease of about $6,000,000,000.
This i s the gro ss increase in the
national debt during the f i r s t year and four months o f the new Adm inistration.
Some observer^ have concluded that i t also represents the cost of the
New Deal during that period, in so fa r as such cost i s re fle c te d in a growth of
the public debt.
This assumption i s e a sily made, but i t ignores the a l l -
important fa c t th a t, while we. have increased our deb t * . we nave a lso increased
our a s s e t s , many of them in r e a lis a b le form.
By th is I moan a s s e ts which in
due time the Government w ill turn into cash, thereby making them a v a ila b le fo r
reduction of the n ational debt.
A good business man takes a periodic inventory of the stock of goods on
h is sh elv es, to see i f h is inventory has increased or decreased.
Let us do
- 2 ~
the same tonight.
Let ns take an inventory of the Governments a s s e ts and see
how those a ss e ts have changed since March 4 o f l a s t year.
We begin with the Treasury1s cash balance.
equivalent of cash in the m erchants drawer.
This i s the Governments
I f a merchant should fin d th a t,
at the end o f sixteen months h is gross debt had increased by $1,000 but that he
had $250 more in h is cash r e g iste r , he would, of course, take into account the^
increase in h is cash when figu rin g the change in h is fin a n c ia l condition.
We
can follow the same p ractice in measuring the re al fin a n c ia l p o sitio n of the
Government.
These are the fa c ts : —
On March 4 of l a s t year, when th is Adm inistration came into o ffic e , the
Treasury1s cash balance amounted to about $200,000,000.
By June 30, 1934,
th is cash balance had rise n to nearly $1,800,000,000 — an increase of about
$1,600,000,000.
I f th is gain in cash i s deducted from the gross in crease in
the public debt, the net increase becomes $4,400,000,000, in stead of
$6 ,000 ,000 , 000 .
But we have another cash drawer in the Treasury, in addition to the drawer
which c a r r ie s our working balance.
drawer.
This second drawer I w ill c a l l the “gold11
In i t i s the very larg e sum o f $2,800,000,000, representing “p r o fit ”
resu ltin g from the change in the gold content o f the d o lla r.
P ra c tic a lly a l l
of th is " p r o fit“ the Treasury holds in the form of gold and s i lv e r .
r->
™ :
'
r:
.
■ ■-
:.
The re st
is in other a s s e t s .
\
I do not propose here to subtract th is $2,800,000,000 frlpm the net in
crease of $4,400,000,000 in the national debt — thereby reducing the figu re to
*
$1,600,000,000.
\
And the reason why I do not subtract i t i s th is :
present th is $2,800,000,000 i s under lock and key.
Por the
Most of i t , by authority
of Congress, i s segregated in the so*-called S ta b iliz a tio n Pund, and fo r the
present we propose to keep i t there.
But I c a ll your atten tion to the fa c t
that ultim ately we expect? th is “p r o fit" to flow back into the stream of our
other revenues and thereby reduce the national debt.
We havei then, in e ffe c t, two cash drawers in the Treasury - one containing
our working b alan ce,' which i s $1,600,000,000 la rg e r than on March 4 of l a s t year
and. the other containing $2,800-,.000*000 Representing the " p r o fit” on devaluation
Tut in addition to cash drawers, we also have a safe#
And in that sa fe we have
some very valuable se c u r itie s - se c u r itie s co n sistin g of notes and other obliga
tions held by various agencies in which the Government has an in terest#
A complete statement of the net a s s e ts of th is kind has never befjare-heen
published by the Government.
I am givin g out such a statement—thi^-evening
for p u b lication in tomorrow "morning1s "newspapers*
regularly once a month.
From now on 'I w ill do th is
I am doing so in order that you can always have
access to an accurate, f u l l , and up-to-date account of the fin a n c ia l p o sitio n
of our Government.
The a s s e ts I am now describing may be c l a s s i f ie d in two groups.
The
f i r s t group c o n sists of a ss e ts of agencies which are wholly owned b y th e Govern
ment and wholly financed with Government funds.
In th is group belong the Re
construction Finance Corporation, the Public Works Adm inistration, the ExportImport Banks and a number of other agencies financed e n tirely by the Government.
Between March 4 o f l a s t year and June 30 of th is , the net increase in the a sse ts
of these agencies amounted to $1,095,000,000.
What are these a s s e t s , and can we rely on them to contribute in due time
to reduction of the national debt?
They co n sist fo r the most part o f such items
as preferred bank stock and cap ita l n otes, cash, investments and other property,
and loans made to public and p rivate borrowers.
In the Treasury we recognize, o f course, that i t may la te r be necessary to
write o ff certain lo s s e s .
But the q u ality of the c o lla te r a l which secures the
various lo an s; the good cred it of our S tate and lo c a l governments; the record
of p riv ate business in meeting i t s o b lig atio n s* a l l combine to give assurance
that the lo sse s of the national government w ill not bp su b sta n tial.
~ 4 So much fo r the f i r s t group of a s s e ts — those which w ill eventually he
av ailab le fo r reduction of the national debt.
There i s also a second group,
representing a ss e ts owned by agencies which are in part financed by the sa le
of th e ir own o b ligation s to the pu blic.
In th is group belong the Federal Land
Banks, the Home Loan Banks and other sim ilar agen cies.
somewhat d ifferen t s ta tu s.
These a s s e ts have a
They w ill not be a v a ila b le , as w ill those in the
f i r s t group, fo r reduction of the n ational debt.
But we may note, while we
are taking an inventory of our p o sitio n , that the Government*s share in tne
net a s s e ts o f th is second group has increased by $766,000,000 during the
present Adm inistration.
We may also note, outside o f the present inventory, other very re a l and
tangible a s s e ts in the form of b etter roads, b e tte r housing, huge new dams and
power p la n ts, modern public buildings and other p ro je c ts which, financed in
whole or in part by Federal funds, have increased the r e a l wealth o f the country.
F in a lly , to complete the p ictu re, i t needs to be pointed out that the
Government has, in addition to i t s public debt, a contingent l i a b i l i t y on
obligation s issu ed by the
Mortgage Corporation.
Home Owners* Loan Corporation and by the Federal Farm
But these o b ligatio n s were issu ed in exchange fo r
mortgages on homes and farms, conservatively appraised at values in excess of
the amount o f such o b lig a tio n s.
Let me sum up at th is point and re cap itu late the fig u re s I have used in
th is stock-taking of our p o sitio n :
The gross increase in the national' debt -between- March--4, 1933-and June 30,
1934, amounted in round numbers to $6,000,000,000.
Against thi3 gro ss increase
we can o f f s e t , either now or u ltim ately , the follow ing a s s e t s :
(l)
An increase in the T reasury*s cash balance of $1,600,000,000; (2) the
’’p r o fit” o f $2,800,000,000 re su ltin g from the reduction in the gold content of
the d o lla r ; (3) the in crease in the net a s s e ts of the agencies wholly owned
5
and financed by the Government, amounting on June 30, 1934, to $1,095,000,000*
This i s wholly asidenfronr-an increase in the c a p ita l investment of the Govern
ment in agencies which are p a r t ia lly -f inanced by funds ra ise d outside o f the
Treasury*
from th is survey of our a ss e ts and l i a b i l i t i e s - th is inventory of the
Government *s fin an cial p o sitio n at the clo se of the l a s t f i s c a l year on June Sov
ie t us turn now to the new f i s c a l year beginning Ju ly 1, 1934»
We fin d that in
July and August, the f i r s t two months o f th is new year, the Governments ex
penditures continued to exceed i t s revenues and hence the national debt con
tinued to increase*
But th is had been an ticip ated *
Let us note the landmarks
by which we have been charting our course*
The President estim ated in h is f i r s t Budget message to Congress, that the
national d e fic it , including both ordinary and emergency expenditures, would
amount during the six months from January to June, 1934, to about s ix b illio n
d o llars*
He also estim ated that the d e fic it fo r the twelve months from Ju ly ,
1934, to June, 1935, would be about two b illio n s .
The to ta l d e fic it thus fore
cast fo r the eighteen months from January, 1934 to June, 1935 — the eighteen
decisive months in which the fed eral Government expected to be c a lle d upon to
meet both the heaviest expenditures fo r r e l i e f o f unemployment and the la rg e st
expenditures in i t s recovery program — amounted to eight b illio n d o lla rs*
This i s the b a s is on which the Administration planned l a s t January, and,
with one exception, i t is the b a sis on which funds were requested o f Congress.
The exception co n sists of an additional $525,000,000 appropriated fo r drought
r e lie f *
So severe a drought could not p o ssib ly have been foreseen when the.
budget estim ates were prepared*
The P residen t, th erefore, requested an addi
tion al appropriation fo r th is purpose*
But at every other point, requests
fo r funds were held s t r i c t l y within the eight b illio n d o llar estim ate*
th is p o licy Congress cooperated*
In
~
6
-
Six Mlllol dollars, then, was the estimated deficit for the six months
from January, 1934 to June, 1934, and two "billion dollars for the twelve months
from July, 1934 to June, 1935,
How large a deficit did the Government actually
have for the six months from January to June, 1934?
Some of our plans moved into action more slowly than had "been anticipated;
emergency expenditures were accordingly less than had "been forecast, and the
deficit for this period was about three billion dollars instead of six.
Author
ization has, therefore, been carried forward into the new fiscal year to spend
the three billions which were not spent in the period from January to June* 1934,
plus the added provision for drought relief,
Whether we shall actually spend these three billions, as well as the
additional funds which the President estimated would result in a deficit of two
billion dollars in the fiscal year ending June 30, 1935, will depend upon de
velopments which cannot be foreseen at this time»
But, even if the deficit for
the new year, exclusive of drought relief expenditures, should reach five
billions instead of two, the combined deficit for the period of eighteen
months from January of 1934 to Juno of I2Sj, would still be no more than the eight
billions on which we originally planned,
A word in conclusion.
If after listening to my talk tonight yo;a have
any detailed questions relating to what I have said, I hope you will feel free
to write to me»
Goodnight and thank you.
Fiscal Tear
19
Customs Receipts
Duties
Miscellaneous
Sale of unclaimed
merchandise and
abandoned goods
5 5
Fiscal Tear
1
9t 5
4
Percent
of
Increase
$250,501,725
$515,095,725
25 »0
59,556
155,551
258.6
646,020
41,755
686,028
88,570
6.2
112.1
52.861
79.484
52.1
Total Customs Receipts $251,281,115
$314,081,188
25 *0
526,411
7,005,756
2,046,5
1,614,704
1,654,910
2,5
844.242
808,667
• 4,2
$254,066,508
$525,550,491
27,5
4,925,578
7.590.971
5,846,177
8,076,627
18.7
6.4
$12.514.549
$15.922.804
11,5
$258,766,766
$500,158,554
25.7
Fines and Penalties
Saie of seizures
All other Customs
receipts
Internal Revenue, Public
Health, and other
Treasury Collections
Commerce Collections
(Chiefly tonnage tax)
Labor Collections
(Chiefly head tax on
accepted immigrants)
Total Collections
Refunds
Excessive duties
Drawback payments
Total Refunds
Net Customs Receipts
NÖEiU^ JL minus -si
(*>)-denetgg"dcrereaae^ ~
1934 amounted to #5,843,177, as compared with. #4,923,378
during the preceding fiscal year*
Upon the exportation of goods made from imported com
modities, the exporter is allowed a refund of 99$ of the duties
he pays.
Such refunds are known as drawback payments.
During
the fiscal year 1934, drawback payments amounted to #8,073,627,
an increase of 6.4$ from similar payments during the preceding
fiscal year (#7,590,971).
Total refunds by the Customs Service, therefore, amounted
to #13,922,804 during the past fiscal year, as compared with
#12,514,349 during 1933.
These items deducted from the total
receipts from Customs operations exclusively resulted in net
receipts to the Treasury of #300,158,554 during the past fiscal
year and #238,736,766 during the fiscal year 1935.
The attached table presents the above information in
detail.
and other minor Treasury colle étions.
Internal Revenue collections
Due to the large
on liquor imports after December
5» 1933, the total of such receipts vas 2,043$ greater than
during the preceding fiscal year, for which period the aggreCollections for the Department of
Commerce consisted chiefly of tonnage taxes and those for the
Department of Labor consisted chiefly of the head tax paid by
immigrants.
These collections aggregated substantially the
same amounts during each of the past two fiscal years, there
being a slight increase in the fiscal year 1934 in Commerce
collections and a slight decrease in Labor collections.
The aggregate amount collected by the Customs Service
during the fiscal year 1934 (#323,550,491) shows an increase
of 27»3$ over the collections for the preceding fiscal year
(#254,036,508).
Not «11 of the amounts received by the Customs Service
finally remain in the Treasury.
Duties paid by importers
are sometimes greater than should have been paid and upon the
actual weighing and valuing of the merchandise, cheeking of
the computations, etc*, refunds are found to be due.
funds of excessive duties during the fiscal year
Such re
4-
¡p
— r
W~tr-r^
P
tlp ^
o
.<_.,4.--£.
-0
u
^
X
Total Customs receipts during the fiscal year ended ¿tone
30# 1034, aggregated #314,081,158, an increase of 25$ over
similar collections during the preceding fiscal year
J
Ufa /gutU ¿¿4 d
oai***~<f '****4~ & £ ^
(#251,281,115 )^|<Almost all of this amount represented duties
on incoming imports vhich aggregated #313,093,725 for the past
fiscal year, as compared with #250,501,723 during the preced
ing year*
The balance of the Customs receipts represented
fines and penalties for violations of Customs lavs, sale of
seized merchandise, sale of unclaimed merchandise and abandon
ed goods, and various other minor i t e m s T h e aggregate of
such miscellaneous receipts during the past fiscal year amount
ed to only #987,433, as compared with #779,392 during the pre
ceding fiscal year.
This total does not include the collection
of salaries and expenses paid from the Customs appropriation
and subsequently reimbursed by the recipient of the services
performed.
In addition to receipts from Customs activities exclusively,
the Customs Service collects considerable sums for other Bureaus
in the Treasury Department and for other Governmental departments.
During the past fieeal year Collectors of Customs received
#7,055,735 in the form of Internal Bevenue taxes on liquor im
ports, Public Health fees and fines, sales of printed forms
TREASURY DEPARTMENT
Washington
Press Service
No, 2 - 7 1
| fOE RELEASE, AFTERNOON PAPERS,
I hiesday, August 28, 1934
Total Customs re ce ip ts during the f i s c a l year ended June 30, 1934,
aggregated $314,081,158, an increase o f 25$ over sim ilar co lle ctio n s
during the preceding f i s c a l year ($251,281,115), the Bureau of Customs
announced today.
Almost a l l of th is amount represented d u ties on incoming imports
which aggregated $313,093,725 fo r the p ast f i s c a l year, as compared with
$250,501,723 during the preceding year.
The balance of the Customs re
tó ceipts represented fin e s and p e n a ltie s fo r v io latio n s o f Customs laws,
sale of seized merchandise, sa le of unclaimed merchandise and abandoned
goods, and various other minor items.
The aggregate of such m iscellaneous re ce ip ts during the past f i s c a l
year amounted to only $987,433, as compared with $779,392 during the pre
ceding f i s c a l year.
This to ta l does not include the co llectio n of
salarie s and expenses paid from the Customs appropriation and subsequently
reimbursed by the recip ien t o f the serv ices performed.
In addition to receip ts from Customs a c t iv it ie s exclu sively, the
Í
Customs Service c o lle c ts considerable sums for other Bureaus in the
Treasury Department and for other Governmental departments.
During the
past f i s c a l year C ollectors o f Customs received $7,055,736 in the form of
Internal Revenue taxes on liq u or imports, Public Health fe e s and fin e s,
large Internal Revenue co llectio n s on liq u or imports a fte r December 5, 1933,
the to ta l of such re ce ip ts was 2,046$ greater than during the preceding
fisc a l year, fo r which period the aggregate was only $326,411.
-
2
-
C ollections fo r the Department of Commerce con sisted ch ie fly o f ton
nage taxes and those fo r the Department of Labor con sisted ch ie fly o f the
head tax paid by immigrants.
These co lle ctio n s aggregated su b sta n tia lly
the same amounts during each of the p ast two f i s c a l years, there being a
sligh t increase in the f i s c a l year 1934 in Commerce co lle c tio n s and a
sligh t decrease in Labor c o lle c tio n s.
The aggregate amount co llected by the Customs Service during the
fis c a l year 1934 ($323,550,491) shows an increase o f 27.3$ over the col
lectio n s fo r the preceding f i s c a l year ($254,066,508).
Hot a l l o f the amounts received by the Customs Service fin a lly remain
in the Treasury.
Duties paid by importers are sometimes greater than
should have been paid and upon the actual weighing and valuing of the
merchandise, checking of the computations, e tc ., refunds arc found to be
duo.
Such refunds of excessive d u ties during the f i s c a l year 1934 amounted
to $5,846,177, as compared with $4,923,378 during the preceding f i s c a l year.
Upon the exportation of goods made from imported commodities, the
exporter i s allowed a refund of 99$ of the du ties he pays.
are known as drawback payments.
Such refunds
During the f i s c a l year 1934, drawback pay
ments amounted to $8,076,627, an in crease of 6.4$ from sim ilar payments
during the preceding f i s c a l year ($7,590,971).
Total refunds by the Customs Service, therefore, amounted to
$13,922,804 during the past f i s c a l year, as compared with $12,514,349
during 1933.
These items deducted from the to ta l re c e ip ts from Customs
operations exclu sively resu lted in net re ce ip ts to the Treasury of
$300,158,354 during the past f i s c a l year and $238,766,766 during the f i s
cal year 1933.
The attached tab le presents the above information in d e ta il.
- 3 -
Percent
of
Increase
F isc a l Year
F isc a l Year
19 3 3
19 3 4
$250,501,723
$313,093,725
25.0
39,356
133,351
238.8
646,020
41,755
686,028
88,570
6.2
112.1
52,261
79,484
52.1
Total Customs Receipts $251,281,115
$314,081,158
25.0
326,411
7,005,736
2,046.3
1,614,704
1,654,910
2.5
844,242
808,687
- 4 .2
$254,066,508
$323,550,491
27.3
4,923,378
7,590,971
5,845,177
8,076,627
18.7
6 .4
$12,514,349
$13,922,804
11.3
$238,766,766
$300,158,354
25.7
Customs Receipts
Duties
Miscellaneous
Sale of unclaimed
merchandise and
abandoned goods
lin e s and P en alties
Sale of seizu res
All other Customs
receip ts
I nt em al Revenue, Publ ic
Health, and other
Treasury C ollections
Commerce C ollections
( Chiefly tonnage tax)
Labor C ollections
( Chiefly head tax on
accepted immigrants)
Total C ollections
Refunds
Excessive du ties
Drawback payments
Total Refunds
cr1
Net Customs Receipts
TREASURY DEPARTMENT
Washington
IMMEDIATE RELEASE,
.Tuesday, August 28, 1934
P ress Service
No. 2 - 72
Appointment of a new committee on Enrollment and Disbarment, to
regulate p ractice before the Treasury Department, was announced today
by the Secretary of the Treasury, Henry Morgenthau, J r ,
The new committee w ill con sist of Mr, Walter Wheeler Cook, of
Baltimore, Md., Mr. Irwin T. Gilruth, of Chicago, I ll i n o i s , and Mr.
Lawrence Becker, of Washington, D. C.
The whole matter of p ractice before the Treasury Department has
been surveyed, at the request o f the Secretary o f the Treasury, by Mr.
Charles C, Burlingham, a prominent lawyer of New York City.
The
Treasury s t a f f and the new members of the committee are working on a
revision of the regu lation s concerning admission to and disbarment
from p ractice before the Department,
Speaking before the Tax Lawyers attending the American Bar A ssociation
meeting today in Milwaukee, Wisconsin, Robert H. Jackson, A ssistan t
General Counsel of the Treasury Department, stated that the Treasury
would welcome the creation o f a representative p ro fessio n al group to
cooperate with the Treasury in the revision of the regu latio n s.
They
were in vited by him to name a committee "to take up at once consideration
of a new code to govern the Treasury bar", and in so doing to "demon
stra te the u sefu ln ess o f c o lle c tiv e e ffo rt as a measure o f s e l f in te re st
and also one of public se rv ic e ".
Mr. Walter Wheeler Cook i s General Secretary of the American Asso
ciatio n o f U niversity P rofessors, and a former president o f that Asso
ciatio n ; a former president of the A ssociation o f American Law Schools;
- 2 ~
a former professor of law at State U n iv e rsities of Nebraska, M issouri,
and Wisconsin, and at the U niversity of Chicago, Yale U niversity and
Columbia U niversity, and at the In stitu te of Law of the Johns Hopkins
U niversity,
Mr, Irwin T, Gilruth i s a member of the firm of Babcock & Gil ruthof Chicago,
He has been activ e fo r many years in law reform movements.
He is Secretary of the Chicago Bar A ssociation and a member of i t s
Board of Managers.
Mr, Lawrence Becker is a former Indiana judge, was S o lic ito r of
the Treasury Department from 1915 to 1922, and has been Attorney fo r
the Committee on Enrollment and Disbarment of the Treasury Department
since 1922,
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
August 29, 1934.
Press Service
No. 2 -73
Of the to ta l amounts collected "by the Customs Service during the f i s c a l
year 1934 ($323,550,490), 95$ was co llected in the eighteen leading Customs d is
t r i c t s , only 8$ "being received "by tho remaining th irty Customs d is t r i c t s , the
Treasury Department announced today.
P ra c tic a lly the same d istrib u tio n appeared
in the receip ts fo r the f i s c a l year 1933.
More than h alf the to ta l co llectio n s during each of the past two f is c a l
years were reported by the New York Customs D istric t, which reported 53.2$ of
the to ta l co llectio n s in 1933 and 51.8$ during the past year. .Philadelphia and
Boston also reported large Customs re c e ip ts, with 8.9$ and 8.1$, resp ectively,
of the to ta l collection s during the past f i s c a l year.
The three leading d is
t r i c t s , therefore, accounted for more than two-thirds of the to ta l collection s
during each of the past two f is c a l years, 67.7$ during 1933 and 68.8$ during
1934.
Of the eighteen leading Customs d is t r i c t s , only fiv e showed a decline in
co llectio n s during the f i s c a l j^ear 1934, as compared with the preceding f i s c a l
year.
In four of these fiv e d is t r i c t s , namely, Baltimore, New Orleans,
Savannah and Galveston, sugar i s the leading dutiable commodity imported. The
c'
J
' .T'**•tflS
sm allest decline of the fiv e was fo r the Tampa D istric t where duties on imported
tobacco are of greater importance than those on sugar.
Almost a l l of the Customs d is t r ic t s which reported large increases in col
lection s were those located in areas which permit the importation of alcoholic
beverages.
The to ta l collected from th is source during the la s t seven months
of the past f is c a l year amounted to $24,023,703.
D etroit led the way with an increase of 172$ in to ta l c o lle ctio n s, while
Pittsburgh showed 144$ and Chicago 92$ increase.
The d etailed information by Customs d is t r ic t s appears in the following
table:
TOTAL COLLECTIONS FOR LEADING CUSTOMS DISTRICTS
Hew York
Philadelphia
Boston
Horfolk
San Francisco
Chicago
Wilmington» N.C.
Baltimore
Hew Orleans
Detroit
Los Angeles
Buffalo
\ Savannah
& Pittsburgh
Seattle
Cleveland
Tampa
Galveston
i| i l l Other
Total
I
ft
6
Per Cent of Total
1934
1933
F iscal Year
1933
F iscal Year
1934
Per cent
Of Increase
$134,905,545
18,294,820
18,599,584
6,989,596
6,151,200
4,703,737
8,602,381
9,145,747
11,625,771
1,816,857
3,330,834
2,626,797
4,005,018
1,123,050
1,716,373
1,549,024
2,598,403
3,585,095
12,696,676
$167,608,130
28,629,388
26,290,081
10,202,268
9,107,753
9,049,395
8,917,074
8,722,276
7,804,776
4,946,283
4,673,867
4,094,052
.3,856,716
2,738,005
2,719,382
2,626,291
2,537,620
2,474,532
16,552,601
24.2
56.5
41.3
46.0
48.1
92.4
3.7
- 4.6
- 32.9
172.2
40.3
55.9
~ 3.7
143.8
58.4
69.5
- 2.3
- 31.0
30.4
53.2
7.2
7.3
2.8
2.4
1.9
3.4
3.6
4.6
.7
1.3
1.1
1*6
.4
.7
.6
1.0
1.4
4.8
51.8
8.9
8.1
3.2
2.8
2.8
2*8
2.7
2.4
1.5
1.4
1.3
1.2
.8
.8
..8
.8
.8
5.1
$254,066,508
$323,550,490
27.3
100.0
100.0
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
August 29, 1934c
Press Service
2 ~ 74
Captain C« M. Gahbett, in command of the Boston Division
of the Coast Guard, has "been appointed Coordinator in matters per
taining to liquor smuggling in the New England States, the Treasury
Department announced today.
Captain Gahbett will direct the con
solidated efforts of the Coast Guard, Narcotic Bureau, Customs
Seivice and the Internal Revenue Bureau officials in their efforts
to put down smuggling in the New England area.
Increased activi
ties on the part of smugglers have heen noted during the past few
weeks.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
August 29, 1934.
Press Service
No. 2 - 75
Fred. W, Beltz, of Pennsylvania, has "been appointed Assistant Deputy
Commissioner of Internal Revenue, in charge of the permissive branch of
the Alcohol Tax Unit, by Executive Order, the Treasury Department
announced today.
Since August 6, 1934, Mr, Beltz has been Acting Assist
ant Deputy Commissioner.
He was born in Norristown, Pennsylvania, and was graduated from the
Naval Academy with the class of 1918.
until July, 1919.
He served over seas from graduation
Mr. Beltz subsequently served in various administra
tive, executive and engineering capacities in the Navy, both afloat and
ashore.
He holds the degree of Master of Science from Columbia University,
He retired in October, 1933, with the rank of Lieutenant Commander and is
registered as a professional engineer in the State of Pennsylvania.
c
1
TREASURY DEPARTMENT
Washington
For release Morning newspapers
Thursday, August 30, 1934.
8/29/34
Press Service
No. 2 - 76
The Secretary of the Treasury determined today to place under the
m
supervision of the Coast Guard a l l a c t iv it ie s of the Treasury Department
having to do with the prevention and detection of the smuggling of liquor
and narcotics on the seacoast between ports of entry.
Supplementing the announcement of August 29, 1934, of the appointment
of Captain C. M. Gabbett, in command of the Boston d ivision of the Coast
>
Guard, as Coordinator in matters pertaining to liquor smuggling in the
New England S ta te s, the Secretary announced the appointment of Captain William! 0:f
l
H. Munter, Commander of the Jack son ville (Florida) d ivision of the Coast
^ac
Guard, as Coordinator fo r a l l a c t iv it ie s of the Coast Guard, the Customs
Service, the Bureau of Internal Revenue, the Bureau of Narcotics and the
Secret Service fo r the coasts of South Carolina, Georgia and Florid a and
in the contiguous waters su bject to the ju risd ic tio n of the United S ta te s.
The object i s to make the most e ffic ie n t possib le use of the fa c ilit ie s
of the various branches of the Treasury Department with a view to putting an
end to the i l l e g a l importation of in toxicatin g liq u ors and n arcotics a t the
e a r lie s t possible date.
These Commanders are instructed to use a l l re
sources av ailab le to those agencies to combat smuggling.
They are directed
>
to c a ll into conference responsible lo c a l o ffic e r s of the services named
fo r the purpose of determining upon a concrete program of coordinated activity .
Each w ill make a weekly progress report to the Commandant of the Coast
Guard.
Ì
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Thursday, August 30, 1934.
8-29-34.
Press Service
No. 2 - 76
The Secretary of the Treasury determined today to place under the super
vision of the Coast Guard all activities of the Treasury Department having to do
with the prevention and detection of the smuggling of liquor and narcotics on the
seacoast "between ports of entry.
Supplementing the announcement of August 29, 1934, of the appointment of
Captain C. M. Gahbett, in command of the Boston division of the Coast Guard, as
it
Coordinator in matters pertaining to liquor smuggling in the New England States,
the Secretary announced the appointment of Captain William H. Hunter, Commander
Lilian of the Jacksonville (Elorida) division of the Coast Guard, as Coordinator for all
^activities of the Coast Guard, the Customs Service, the Bureau of Internal Revenue
the Bureau of Narcotics and the Secret Service for the coasts of South Carolina,
Georgia and Florida and in tne conti pious waters subject to the jurisdiction of
the United States.
The object is to make the most efficient possible use of the facilities
lies
of the various branches of the Treasury Department with a view to putting an end
: an
to the illegal importation of intoxicating liquors and narcotics at the earliest
^possible date.
j to those
ited
These Commanders are instructed to use all resources available
agencies to combat smuggling.
They are directed to call into conference
responsible local officers of the services named for the purpose of determining
>
upon a concrete program of coordinated activity»
;ivi-
st
report to the Command.ant of the Coast Guard.
1
Each will make a weekly progress
TREASURY DEPARTMENT
Washington
FOR IMEDIATE RELEASE,
Thursday, Angnst 30, 1934,
Se^ ice
No* 2 "*
T r e s s
The Secretary of the Treasury today extended the supervision
of the Coast Guard over the. activities of the Treasury Department
agencies having to do with the prevention and detection of the
smuggling of liquor and narcotics on the seacoasts "between ports
of entry.
In addition to the two Coast Guard Division Commanders
announced as Coordinators yesterday, August 29th, the appointment
of five other Division Commanders was announced today.
Those
appointed today include Captain W. H. Shea of the New York
Division, Commander R. C. Weightman of the Norfolk Division,
Captain W. J. Wheeler, Motile Alabama, of the New Orleans Division,
Commander R. W. Dempwolf of the Seattle Division, and Captain H, R.
Searles of the San Francisco Division.
Those previously annonnced
as Coordinators were Captain C. M. Gabbett of the Boston Division
and Captain William H, Munter of the Jacksonville Division,
These Commanders are instructed to use all resources avail
able to the Coast Guard, the Customs Service, .the Bureau of Internal
Revenue, the Bureau of Narcotics, and the Secret Service in combating
smuggling along all the seacoasts of the country.
CCÂODÎftl
mJ&k^^SSvÜSm,
r t t  f Ï Ï ! ® *
* • * ■ « « * * » l i a i te
M «
te t ^ e K t e ^ L ^ J t . ^ Â Ï Ï l S K S * ® *• » « t e t t e * w
teste».Xe.
C w C t T L f « rt—
te te. aarnatar, «f % * w i t e ^ t e -fc»
CD
U Ihm « ^ « H i s i i i K i ) M ftiftttH i» I * Wà& _____ i..É
.
..
«w* t e t e ¿ S S S w ^ L S T * * ¿ * 2 gra**"tl*a * *»» •«* « W S
¿ ^ Z t ^ r r F ì *0^ * * « t e te» t e *
«tete .
« f 1 fib r il KT—lrt « b i l l & •
A^
î?t1 L -
* * * * eWeH* * * & • W f l É
« te d * ~
-I- ~ . ° * » t e « 1" 11» te **l s i» rsqatrad * r t l f t * t e w W m
« S Ä * X Ä 1 S S Ä L * 2 S . ,W f 5 ^ r U
* ^ S T , è T* 3 ,
*
* ***** ® * t e s t e t e t * «r «»• * r t t « * t e *fesïi
mW
te %lit*1..t r
;
r
/
ï
r
s
te»*»*« amt mtíimt panam
a
 S X ,x ^ r ^ (tïLr* rn iT utla” *m w*■■“ * * k
s* i 4 w t e S ^ x * S M S S * ^ n » s
2 ^ *
*m$Wml Êt tham
m»**» 1**« —- W T ^ ;
** ™ "
* « • £*k* «f tlM»
”
m r*w
«Wâ fTl«r * • «mil 1* IgS§. «r rnmmh «*»*«*»
^
J* fWNÉltla*# fejr fcfe* iWill^l if lui tàmil frtftiwfe* -__
mmim llü l fis# «Mrgnsfty **» tttmiimtg j.
*
ty &emm*
, *
>
®*MP«9tü»y « f Ü »
mt&u&zom
tim M h m i m g rag»latíaos m m fesraby
prwisia&s af tim foragaisg Praalsaafeiaat
purmmnt to the
(I) Bay «ad stwar ta feo « n i as IMI for Hrastocfc sad sash ofefear
foods for llrstfeosk dotlabi» asidor tho tariff Safe of 1930 «a ssa/ feo
ésslgaatsd fra» tin to tino shall feo sdaittad frsa s€ <h*ty# «fes» ft»»
portad «fe «ay pori «f safcry, p w ü o â tfeara fes filad lo ssmsiafetaa with
felis «atry» la addition fea atfear pspsrs «ad êssMefea roquiiad fey fella
iwife«— ragalatloas, a «artlficsfca, la dupllaata, of * «omxfey «grisai*
M a l «foflfe or «fefesr $»rson# duly dsslgaatad % fefea Sasrofesry «f
%ri saltara, Sa safestaafelslly tbs M M X | fata»
Trasr
i» Collaator of daataas,
~ (Port aTïii&ÿJ' ~rT™ '
this So fea aarfeify tfeat fefea snfeaartbar of this aartlfissta.
i m
feas feaaa duly aatfeorftaad fey fefea Saaratary af Ifrtalfea» Sa a lattar af
------ n s « ! ----------- ■
for fefea laparfcstlaa af food for U v s t U a fraa of dafey andar fefea Pros!*astia» af fefea Praaldast af fefea Bsifead Statai* aada aa Aagnafe 10» IfM#
aad feta ragnlatlaas af fefea Saaratary af fefea îraaaary prsanlgatad f m t a l
fefearafea*
ffeafe this awfeifiaata Is iaauad fey aa porsnaafe ta fefea authority
grsastad to a* fey fefea Saarafeary af Agrlaaltora is aforasaldf
tfeafe
is
7ßmm
aK uiïënisSa
«si m m r of llaaafcaofc la a drought affsafead araa of fefea faltad S M f »
or « ralla# organisatis» «afe optyiisi I W profit! «ad
ffeafe 1 M a laraafelgsfead tfe* «afefear M l rarily feallaas that fefea
aarsfeasdisa dasarifead balsa (ta fea fea) (feas fessa) Importad diraatly fey
ar ífer fefea i n a n i af fefea alttasta aonslgaaa nwmà aliava» sad tliafe it
allí fea asad far tfes fa o á i a g sf livasfeaak la s droogfet sffaatad «rao#
“
“
»•«■»•»•y «f ti» Ti
m m
, *»
tmà
■•«tiwd* «urgiml,
ether supplia f Ï T
relief «effe» * « et
.. , I, FEUBfiM A. 8 0 œ m M , Pro.ldont M
w a a t e « St«t*. of teori«., by «fc**, of * ¿ ^ , ^ 7 * * * *
* 2 * * Í L * * _ * « * " • * « S í« i r S M r
Z T Z Ìha
má by rirt»» of rtï «MMr authority
te « f £ *
|i’>flïbl on «ssrgency b» a&iat « m» do i»»^v _mii.*_i
s»«r»tary «r «kl Ti«»«bi j ta
a
n
L ffiiT
(«Om « bofor» ttarttoSithf!^!;
*ta* ” • M W »
Pro.Uont «ri «Mtanri
Ì* ***
s ir r s t s g y ?--* «^g ^ g J i r r g
iaport»i«i «f ■<« food for Uaoat«* «a W ^ e ^ r i w ^ i f
Î
îiS S îr L t.
* ? ~
5
s
z
«wMi
* j- *
* • * * « • - * ~ i~
s
« 2
*«»**•*** *
o r w * » ! w S 1* 1 * *
« * > m %
i * «a y
* * <u*trib* ti“
—
X r
ûrmgJMt mttmdkmA
« « * * ~ î
?»” "■*• »*> * r tat« «ri
^ *•**
Stala# ta b# afflliɫ
'*** •* **•«**» «f #«»hiaet«m «K tfcis lObb May mf
'
* “* " • * » £ *
AUKUSt
2 r * ^ î i r fl!,,r» ■ * • » « •
U
h m
A
Í* tha Bnttad StotM «T teorie« tte
■ * fifty-aJafch.
w
(sans) m m w a. momut
®y tï» Proaidant»
(s a n s ) n u
nu,
S»«rotary «f »tato.»
I# jlljllilSf- iü » f«fesg>  ’I SlÉii *# ia * <î^Â*:ÿst-
f& B.f7i3 3 j
nm «sor et n a rm wnatm
I
BoO
Tfavmn!
Ellmmmrnm
sS
mi
lww J>
« •r tte * Sto« Iter lt-NMtmk t * « * «feittw t flm * te <Mw « t e r
* Preelamtioa te thè Preeideul, a*«* jmreoent t e eeetloa 318 te tee
Urli*
Aet te
1930.
m n m m
w
so <ì m
Sk*
m
et cttssois
jk b
m
,
a. &
<MMKfV ooocsaraat
rool»a*tion «f te» President tette« Augast lo, 193 «. —
f*J**
«T » t e t l t e f c u te « t e S t e l i * tefc te
1 « » » «Mltetet «
tete«tete ** «teat%
m M R te M t t sondit t e - > °»rtol» «rate te «te tette« Stette, «te «rtterUiag «te
teottetey te tte T w —
m
* t e j*ntet « t e * Ite» te «tejr t f m t e t tete
te r U m etook te te t e r « M ie te te , te t- U ite e d t e r *m r tte a m te t« *
*naasm r
sr
m
s® emxnor — m s
n
a
m
u
m
m
»? te* Preetdaot te «te tette« States te Antri**
a
mmummm
"sam m te *a ««*«*1 t**k te tratte te te * State» te te rte
tetete, sente Meo**, W t e M k * . Sten*. i M t e ,
«te. m d
t e * » « * , « I t e * tem er « s ta te te * te * r S i t e * * , t e *
m * « t e * te a rte g * «
t e r U -rm tm k. j* r t i e i a * r l y te « t e
*lte*t*4 ar«« «ad *te**ter* te tee «tette State«f end
*mmit irntt** su «r te* tei«r a«* «r uso (*t>. « «.
** ***** 990. #®®| |t*rtte te | t e m
mmmimr t e *
iM
M
MIME**
t e t e l % |r**l*m fc ia «t
«Mite*' *■ eaargoao? * • *•!*« «y n m
of * «tete
* * ? * * * * * * * * tho SoereU rji
te t e * tr e m a r* « * m te te « a rte « t e * eaatteM u e* te
Ì
I?r*.*r *t’w p *1*** *•
*•»* «tergane* te * tte * te m i* ppeeorlbed for te *
perfora«*** te •** *«t. «te **y mtteri** te* te*n»
t«ry te th * Treeettrjr t * p e rn ii. « t e r ante regala« lem
KB
O F F IC E O F TH E CO M M ISSIO N ER O F C U ST O M S
i<t.
TO ME. UPHAM
FROM ME. FEAM:
Attached is a copy of the regulations proposed to he issued
under the President’s Proclamation of August 10, 1934, providing
for the free importation in certain cases of feed for livestock.
These proposed regulations are not to become effective until
approved by the Secretary of the Treasury and it is requested
that any press release covering the matter include a statement that
the Department of Agriculture and the Treasury Department are in
agreement that for the time being hay and straw only will be eera
tified for free entry.
The matter of any changes in the list of commodities now named
in the proposed regulations as entitled to free importation will,
in the future, be left to the Department of Agriculture, as will
the other problems to be decided.
Bhy asi straw to be used as feed
to r
livestock will be
adalttod to the United states free of duty, under regulation«,
issued today by the treasury Department pursuant to an hority
contained In the s «
declaring a / j « «U
August 10 Proclamation of the President,
an y u g sw y to exist dua to the drought.
Other feeds for livestock dutiable under the Sariff
Aet of 1930 may be designated later as admissible free of duty,
While the Department of the treasury and the Department of
Agriculture are in agreement that for the time being hay and
straw only will be certified for free entry, additions to the
free list w i n be within the discretion of the Department of
Agriculture,
Importations,whieh
must be accompanied by
a
may be at any port of entyy,
certificate of a county agricultural
agent or other person designated by the Secretary of Agriculture,
declaring that the ultimate consignee is an owner of livestock
ia
a
«rough* affected area of the United States, or
organization not operated for profit*
a
relief
and that investigation
ttmwi themerchandlae to have been «aportad directly by or for
account
of
such
consignee, and that it w i n be used for the
im iS m p t livestock
J
m
tr m m tr ? VtorU oa.
only with respect to
after
the
in a drought affooted area.
date
of
for
the regulations appl¿2-o
importations «altered for consumption on and
the approval
of then* regulation«,
and prio*
t0 3 W y 1 * M *f' or sa«'5í earlier date as may be proclaimed by the
frtsident lf he «toll declare by proclamation that the emergency
has terminated.
'Vu,
i - 7 ?
Hay and straw to bo used as feed for livestock will lie
admitted to the Halted States free of duty» under regulations
Issued today by the treasury Department pursuant to an hority
contained in the txac August 10 Proclamation of the President,
declaring raftxBBEgte* an emergency to exist due to the drought*
Other feeds for livestock dutiable under the Tariff
Act of 1930 aay be deeignated later as admlssdble free of dnty«
While the Department of the Treasury and the Department of
Agriculture are in agreement that for the tim* belng hay and
straw only will be certlfled for free entry* addltlons to the
free list will be within the disoretlon of the Department of
Agriculture *
Importations,which
may be at any port of entjry
must be accompanied by a certificate of a county agricultural
agent or other person designated by the Secretary of Agriculture,
declaring that the ultimate consignee is an owner of livestock
in a (rought affected area of the United States, or a relief
organisation not operated for profit;
and that investigation
shows the merchandise to have been Imported directly by or for
account of such consignee, and that it will be used for the
feeding of livestock in a drought affected area*
The free entry provided for in the regulations appl$ U s
only with respect to importations entered for consumption on and
after the date of the approval of t h e m regulations
and prioJr
to July 1, 1935, or such earlier date as may be proclaimed by the
President if he shall declare by proclamation that the emergency
has terminated*
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Thursday, August 30, 1934.
Press Service
No. 2 - 7 8
Hay and straw to be used as feed for livestock will be admitted
to the United States free of duty, under regulations issued today by
the Treasury Department pursuant to authority contained in the
August 10 Proclamation of the President, declaring an emergency to
exist due to the drought.
Other feeds for livestock dutiable under the Tariff Act of 1930
may be designated later as admissible free of duty.
While the De
partment of the Treasury and the Department of Agriculture are in
agreement that for the time being hay and straw only will be certified
for free entry, additions to the free list will be within the dis
cretion of the Department of Agriculture,
Importations, which may be at any port of entry, must be
accompanied by a certificate of a county agricultural agent or other
person designated by the Secretary of Agriculture, declaring that the
ultimate consignee is an owner of livestock in a drought affected area
of the United States, or a relief organization not operated for profit;
and that investigation shows the merchandise to have been imported
directly by or for account of such consignee, and that it will be used
for the feeding of livestock in a drought affected area.
The free entry provided for in the regulations applies only with
respect to importations entered for consumption on and after the date
of the approval of the regulations and prior to July 1, 1935, or such
earlier date as may be proclaimed by the President if he shall declare
by proclamation that the emergency has terminated.
(T. D.
EMERGENCY —
47233
)
FREE ENTRY OF FEED FOR LIVESTOCK
Certain feed for livestock to be admitted free of
duty under a Praclamation of the President, made pursuant
to Section 318 of the Tariff Act of 1930.
TREASURY DEPARTMENT
WASHINGTON, D. C. AUGUST 30, 1934,
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNEDi
GQ
c+
The Proclamation of the President dated August 10, 1934, made
pursuant to the provisions of Section 318 of the Tariff Act of
1930, declaring an emergency to exist by reason of drought condiions in certain areas of the United States* and authorizing the
ecretary of the Treasury to permit entry free of duty of such
feed for livestock as he may designate, is published for your in
formation arid guidance:
"EMERGENCY DUE TO DROUGHT — FREE IMPORTATION
OF FEED FOR LIVESTOCK
By the President of the United States of America
A PROCLAMATION
"WHEREAS an unusual lack of rain in the States of
North Dakota, South Dakota, Nebraska, Texas, Missouri,
Utah, and Nevada, and to a lesser extent in other States,
has caused an acute shortage of feed for livestock,
particularly in the affected area and elsewhere in the
United States; and
"WHEREAS Section 318 of the Tariff Act of 1930 (ch.
497, 46 Stat. 590, 696) provides in part as follows
•'Whenever the President shall by procla
mation declare an emergency to exist by reason
of a state of war, or otherwise, he may
authorize the Secretary of the Treasury to
extend during the continuance of such emergency
the time herein prescribed for the performance
of any act, and may authorize the Secretary of
the Treasury to permit, under such regulations
-
-
as the Secretary of the Treasury may prescribe,
the importation free of duty of food, clothing,
and medical, surgical, and other supplies for
use in emergency relief work. * * * '•
»«NOW, THEREFORE, I, FRANKLIN D, ROOSEVELT, President
of the United States of America, hy virtue of the author
ity vested in me by the said section of the Tariff Act
of 1930, and by virtue of all other authority vested in
me, do hereby proclaim an emergency to exist and do
hereby authorize the Secretary of the Treasury to per
mit, until June 3C, 1935, (unless before that date it
has been determined by the President and declared by
his Proclamation that the emergency has terminated)
within such limits and subject to such conditions as
he may deem necessary to meet the emergency, the impor
tation of such feed for livestock as the Secretary of
the Treasury may designate and under such regulations
as he may impose, free of duty when imported by or
directly for the account of any owner of livestock in
any drought affected area, or by or for the account of
any relief organization, not operated for profit, for
distribution among distressed owners of livestock.
«IN WITNESS WHEREOF, I have hereunto set my hand
and caused the seal of the United States to be affixed.
"DONE at the City of Washington on this 10th day
of August in the year of our Lord nine
teen hundred and thirty-four, and of the
Independence of the United States of
America the one hundred and fifty—ninth.
(SIGNED)
By the President:
(SIGNED)
CORDELL HULL
Secretary of State."
FRANKLIN D. ROOSEVELT
3
REGULATIONS
The following regulations are hereby promulgated pursuant to
the provisions of the foregoing Proclamation:
(1) Hay and straw to be used as feed for livestock and such
other feeds for livestock dutiable under the Tariff Act of 1930 as
may be designated from time to time shall be admitted free of
duty, when imported at any port of entry, provided there is filed
in connection with the entry, in addition to other papers and
documents required by the Customs Regulations, a certificate, in
duplicate, of a county agricultural agent or other person, duly
designated by the Secretary of Agriculture, in substantially the
following form:
(place)
(Date)
To Collector of Customs,
(Port of Entry)
This is to certify that the subscriber of this certificate,.
..............j_» ____________________________________ i ______________________________ >
(Name)
(Title)
(Address)
has been duly authorized by the Secretary of Agriculture in a let
ter o f
, numbered
, to execute certifi
cate)___________________ (Serial No.)
cates for the importation of feed for livestock free of duty under
the Proclamation of the President of the United States, made on
August 10, 1934, and the regulations of the Secretary of the Treas
ury promulgated pursuant thereto:
That this certificate is issued by me pursuant to the authority
granted to me by the Secretary of Agriculture as aforesaid;
That ______ j_________________________ ____________ . .
(Name and address of ultimate consignee)
an owner of livestock in a drought affected area of the United
States, or a relief organization not operated for profit; and
is
That I have investigated the matter and verily believe that
the merchandise described below (is to be) (has been) imported
directly by or for the account of the ultimate consignee named
above, and that it will be used for the feeding of livestock in a
drought affected area.
- 4 -
COMMODITY
To be shipped via
Approximat e
Quantity
(Signature and Title)
(2) The original copy of the above-mentioned certificate shall
he filed with the entry papers, and the duplicate copy shall he
promptly forwarded hy the collector of customs to the Secretary of
Agriculture, Washington,D.C. (Attention:
)•
(3) If the above-mentioned certificate is not presented at the
time of entry, a bond shall be taken for the production of the same
within six months from the date of entry. Where a consumption entry
bond has been taken, a special bond need not be required, but in
such event, the report of appraisement shall be suspended until the
required certificate has been filed, or six months have expired,
whichever is earlier, and the six-months’ period allowed for produc
tion of the certificate shall not be extended.
(4) Lists of the names of county agricultural agents and
other persons designated by the Secretary bf Agriculture to execute
the certificates contemplated by paragraph (l) of these regulations
will be furnished to collectors of customs from time to time.
(5)
The free entry herein authorized shall apply only with
respect to importations entered for consumption on and after the
date of the approval of these regulations and prior to July 1,
1935, or such earlier date as may be proclaimed by the President
if he shall declare by proclamation that the emergency has termi
nated.
(SIGNED)
H. MORGENTHAU, JR.
Secretary of the Treasury.
Treasury department
Washington
for Release MORNING PAPERS
September 1, 1934
Press Service
Ho* & ~~ //
8/31/34
Announcement of the terms of the September 15th
financing b y the Treasury will he made on Monday, September 10,
according to a statement today (August 31) b y the Secretary of the
Treasury, Henry Morgenthau, 3r#
The announcement will be confined to an exchange offering
open to the holders of the Certificates of indebtedness maturing
September 15th and the Fourth Liberty Loan 4i per eent bonds of 1933-38,
called for redemption on October 15th.
I
b
£
k
fe
TREASURY DEPARTMENT
Washington
EELEASB, MOEi«HS UEWSP1PESS,
Saturday, Sentemoer 1 , .19o4.
8-31-34.
Service
2-79
Announcement of the terms of the September 15th financing by the
Treasury will be made on Monday, September 10, according to a statement
today (August 31) by the Secretary of the Treasury, Henry Morgenthau, Jr.
The announcement will be confined to an exchange offering open to
the holders of the Certificates of Indebtedness maturing September 15th
and the fourth Liberty Loan 4$ per cent bonds of 1933-38, called for re
demption on October 15th.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Saturday, September 1, 1984.
Pr«ss Servie#
| VA.
MdriH* Sserstary of the Treasury 4 H B B
'pn^
bm k
(
O
announced
'
evening that the tenders for $75,000,000, or thereA
about*, of 182-day Treasury bills, dated September 5,
1984, and maturing March 6, 1935, which were offered on
August 29, were opened at the Federal reserve banks on
August 31, 1934*
The total amount applied for was $342,426,000, of
which $75,290,000 was accepted*
The accepted bids ranged
in price from 99*914, equivalent to a rate of about 0*17
percent per an*»*», to 99*907, equivalent to a rate of
about 0*18 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted*
The average price of Treasury bills to be
issued is 99*908 and the average rate is about 0.18 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
EOR RELEASE» MORNING- PAPERS»
Saturday, September 1, 1934.
Press Service
Ho* 2 - 8 0
The Secretary of the Treasury announced this evening, (August 31)
that the tenders for $75,000,000» or thereabouts, of 182-day Treasury
bills, dated September 5, 1934, and maturing March 6, 1935, which
were offered on August 29, were opened at the Federal reserve banks
on August 31, 1934.
The total amount applied for was $342,426,000, of which $75,290,000
was accepted.
The accepted bids ranged in price from 99.914, equivalent
to a rate of about 0*17 percent per annum, to 99.907, equivalent to a
rate of about 0.18 percent per annum, oh a bank discount basis.
part of the amount bid for at the latter price was accepted.
Only
The
average price of Treasury bills to bo issued is 99.908 and the average
rate is about 0.18 percent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, September 1, 1934,
Press Service
No. 2 - 8 1
A record number of summer season marine mishaps is reflected
in the report of the Coast Guard for the week ended August 31, the
Treasury Department announced today.
During the week 405 persons
wore rescued and assistance was rendered to shipping and mariners
in distress in 678 instances,
A number of successful resuscitations were included among the
cases of those rescued.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS;
September 4, 1934,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended August 31, 1934;
San Francisco...... ......... .
9,739.25 fine ounces
Denver.............................. 1.855.00
"
n
Total for week ended August 31.....11,574.25
n
"
Total receipts of silver through August 31,1934. ........... .
.— , 11,712,000.00 ft
ounci
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9* 1934)
Philadelphia ........ ..............
21,292 fine ounces
New York...........................
8,025,609
tt
"
San Francisco.........
4,104,650
"
n
Denver ............................
102,971
n
»
....
New Orleans........ ........... ..
Seattle......
47.209
*
»
Total for week ended August 51. %»,
12,301,731 fine ounces
71,854,841 fineI
Total receipts of silver through Augapt 31, 1934<
ounc«^
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New Domestic
Secondary
Week ended August 31, 1934:
____ Imports
r
163.94*
$ 186,730.82Philadelphia......... $
-- 587,000.00
New York............. 2,729,000.00
1,078,847.86
158,248.06
San Francisco...............
4,810.82
580,403.00
33,975.00
Denver.................... • • • • •
10,199.00
H
215.78
46,118 .'40
New Orleans.........
14,719.13
165.245.09
21.797.09
Seattle...... ......
.. Total for week ended
$1,035*869.37
$1,822,873.67
August 31, 1934.... $2,758,728.95
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary^ Order of December 28, 1933)
Gold Certificates
Received by Federal Reserve Banks:
Gold Coin_____
^ 846,590.00
Week ended August 2
9
.
•
$
38,653.75
67.512.150.00
Received previously.........
28.878.558.82
Total to August 29,1934...
$28,916,972,57
$68,158,740.00
Received by Treasurers Office:
7,300.00
Week ended August 29..••...•••.
250»994.00
1.695.600.00
Received previously.......... .
250,994.00
$ 1,702,900.00
Total to August 29,1954..
NOTE: Gold bars deposited with the New Yprk Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS;
Total for the week............. ..
$17,746,000.00
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS;
September 4, 1934#
RECEIPTS OE SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended August 31, 1934:
San Erancisco#•...... 9,739,25 fine ounces
Denver........................... . 1,835,00
tt
11
Total for week ended Aug. 31 .... 11,574.25
"
«
..... 11,712,000.00 fine ounces
Total receipts of silver through Aug.31,1934.,
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Philadelphia............
21,292 fine ounces
!»
tl
New York.......... ............... 8,025,609
I
I
tl
San Erancisco........................ 4,104,650
I
t
II
Denver..,,...... ..................
102,971
New Orleans,..,...,.,,,,....,..,..,.
......
Il
II
Seattle..............
47,209
It
II
Total for week ended Aug.31 .....12,301,731
Total receipts of silver through Aug.31,1934,
71,854,841 fine ounces
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OEEICES:
Week ended August 31, 1934:
Imports
Secondary
Philadelphia...... .
$
---$ 186,730.82
New York........
2,729,000.00
587,000.00
San Erancisco.... .
4,810.82
158,248.06
Denver..........
10,199.00
33,975.00
New Orleans...........
14,719,13
46,118.40
Seattle......... ....
— - 21,797.09
Total for week ended
August 31, 1934.... $2,758,728.95
$1,033,869.37
New Domestic
$
163.94
1,078,847.86
580,403.00
215.78
163,243.09
$1,822,873.67
GOLD RECEIVED BY EEDERAL RESERVE RANKS AND THE TREASURER« S OEEICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Gold Certificates
Week ended August 29.............,
$
38,633.75
$
846,590.00
Received previously,.•••••••••••.
28,878,338.82
67,312,150.00
Total to Aug. 29, 1934#...
$28,916,972.57
$68,158,740.00
Received by Treasurer* s Office:
Week ended August 29.............
Received previously.............
Total to Aug. 29, 1934....
NOTE:
$
“~$
- - —
250,994.00
250,994.00
$
7,300.00
1,695,600.00
$ 1,702,900.00
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OE GOVERNMENT SECURITIES EOR INVESTMENT ACCOUNTS:
Total for the week,
$17,746,000.00
Page -
2
TREASURY DEPARTMENT
Washington
Press Service
Ho, 2 - 82
fOR IMMEDIATE RELEASE,
September 4, 1934,
ACTIVITIES OE INVESTIGATORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING AUGUST 25, 1934,
(Corrected statement based on complete weekly reports
of investigators)
— ----Dist.
"Mo
1
States Stills
Seized
Conn,
Maine
Mass,,
N.H.
H. I*
Vt,
Capacity
Gals. of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
1
2
Value of
Property
Seized
Arrests
$ 1,555
826
1
4
2
225
216
94
1
25
14
300
TOTAL
3
250
324
400
3
$ 2,381
6
2
N. Y.
12
783
628
59,800
1
$12,280
18
3
Penn,
3
85
521
233
4
$ 1,711
64
4
Del.
it. J.
156
246
9,000
8,475
5
3
$ 1,940
587
12
23
204
9,950
4,175
3
4
1,340
1,494
7
22
100
X
Not reported.
TOTAL
5
6
D. C,
Md,
N, Car,
Va.
W. Va,
2
9
9
6
600
510
Not reported.
1,806
265
•TOTAL
26
3,181
606
31,600
15
$ 5,361
64
Al a.
Pia.
G-a.
S.Car.
15
13
32
17
4,145
2,065
4,056
2,185
149
461
1*142
274
8,040
19,790
47,900
16,985
2
4
5
2
$ 1,467
3,550
8,030
1.925
27
16
39
10
TOTAL
77
12,451
2,026
92,715
13
$14,972
92
Ky.
Tenn.
29
15
1,236
1,310
586
172
11,640
18,566
3
1
$ 2,845
1,640
64
9
TOTAL
44
2,546
758
30,206
4
$ 4,485
73
i
7
i
- 2 —
1
Dist,
No.
8
f
9
10
11
12
13
States
p
Capacity
Gals, of Gals, of
Spirits Mash
Seized
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
6
9
3
7
120
750
294
561
600
13,460
2
2
$
TOTAL
10
870
855
14,060
4
$ 2.063
15
111.
Ind,
Wise.
9
6
3
3,520
350
885
2, 276
282
1,056
49,753
4,050
24,126
3
3
1
$28,675
936
2,625
19
9
9
TOTAL
18
4,755
3,614
77,929
7
$32,236
37
La.
Miss.
Texas
9
16
27
300
1,015
2,760
44
86
357
945
4,400
9,497
1
4
8
$
495
1,279
3,412
15
22
67
TOTAL
52
4,075
481
14,842
13
$ 5,186
104
Ark.'
Kans.
Mo.
Okla,
11
915
620
295
5,100
10
17,550
1,890
1
1
3
3
$
10
5
175
139
172
150
907
15
1,951
1,848
20
6
17
25
TOTAL
26
1,830
636
24,550
8
$ 4,721
68
2
40
6
70
100
2
Iowa
Minn,
Neb.
N. Dak.
S. Dak.
363
1,700
Arrests
Mich.
Ohio
$
915
4
7
4
10
TOTAL
2
40
86
100
2
$
915
15
Ariz.
Colo.
N. Mex*
Utah
Wyo.
1
4
4
30
260
65
250
400
200
1
4
1
$
1
75
5
16
4
5
4
100
50
255
125
15
200
3
11
4
1
1
10
430
34
950
6
$
645
20
TOTAL
14
Stills
Seized
Cal.
Hawaii
Nev.
3.
4
1,500
668
49
44,000
323
5
1
$11,490
75
11
6
TOTAL
7
1,500
717
44,323
6
$11,565
17
- 3 (il
Dist•
No.
States
Stills
Seized
Capacity
548
5
1,736
177
713
6
$ 1,836
29
11,463
392,421
92
$100,357
569
5
225
295
33,021
2
TOTAL
GRAND TOTAL
Arrests
1
190
10
25
Value of
Property
Seized
4
6
9
10
165
2
1
Autos &
Trucks
Seized
50
50
10
80
5
82
Idaho
Mont.
Ore.
Wash.
15
Gals, of Gals, of
Spirits Mash
Seized
Seized
$
-
2-
section of the Bureau of Agricultural Economics#
He left this position to
take charge for two years of industrial research for an investment and
research corporation in fDetroit, returning to the Government service as
assistant chief economist of the Federal Farm Board in 1930.
ta*
U
¡¡
t
1
L M
W t
|§
*U
<
*
^
V
jmtmfr a
'
.T l
^
y
luv^-
■
1
r
/e*-**-** ■^w
*.
''
U
>
Haas, economist, JPfe has anx held various executive and
advisory positions in public and private lifejAwas appointed deputy governor
of the EJCA, November 20, 1933*
In the spring of 1933 he served as technical adviser to the American
delegation to the International Wheat Conference which convened first in
Geneva, Switzerland,and later transferred its sessions to London.
He later
was appointed one of the economic advisers to the United States delegation
to the World Economic Conference in London.
Upon his return to this
country* late in July* he was made chief economist of thte FCA.
}~\o-rv*r~
His career also included serving as one of the first representatives
abroad of the US Department of Agriculture.
He was an Agricultural Commissioner
for the Department, first in Vienna and later in Berlin.
The Berlin and Vienna
offices were consolidated into one under the direction of Mr. Haas.
Mr, Haas was born in St. ^aul, Minn., May 31, 1896.
He studied both
at the Echool of Business and at the College of Agriculture of the University
of Minnesota.
agriculture •
He graduated iin 1921 with a Bachelor of Science degree in
In the following year he was ^ a t e d with a Master of Arts
degree in Agricultural Economics.
Mr. Haas pursued further graduate study
4u)
in ecc^nics ^t the University of Berlin.
During two summers he has made studies of land colonization methods in
Minnesota, Wisconsin and Michigan for the US Department of Agriculture, subse
quently coming to Washington to engage in research on land valuation for the
Department of Agriculture.
the University of Minnesota.
His studies on land valuation were published by
Later Mr. Haas was detailed to handle work for
the Department on price analysis, going from this into the foreign field.
After returning from Ejsrope he was placed in charge of the foreign
Brewster, Mass#
August 27, 1934
Secretary Henry Morganthau,
United States Treasury,
Washington, D. C.
Jr.,
Dear Mr# Morganthau:I have given considerable thought of late
to ray p o sition as chief of the Section of Financial and
Economics Research, and to the T r e a s u r y 1s need for an
Economic organization w hich will continue actively to
perform the combined function of providing factual i n
formation for the use of Treasury officials and of giving
counsel on Economic matters#
I believe that the prospect
of coordinating service and advisory activities of a
financial and economic character in a single unit^in
the Secretary's office would be improved by my w i t h
drawal ,
As I have previously stated to you, I
should not wish under such circumstances to continue in
m y present position.
I therefore tender my resignation,
to take effect if feasible, by the middle of S e p t e m b e r 0
My work and associations in the Treasury
have meant much to me, and I assure you that I take this
step with real regret#
Wo Ro Stark
Chief, Section of Financial
and Economic Research
©car I r . Starkt
It 1 ® w i t h r e g r e i ifefit 1 ac c e p t y c m r r e s i g a s ^
t,icsii frtM tfe© p o s l t l o n
C h ie f o f th® S e e t i o a o f
F i n a n c i a l and I c e n o s l e B a a e a r e h
ttem rt-m t,
f a ithful m £
1
oi
the fre&smry
« p p r s d e t ® y c m r laag record af
e f f iciant t e r r i c © at th © f r ®arary,
aad I h o p © t h s t y o * f e r n f croad, © r w i l l find,
«aotfaer »pfeer© f o r y o u r a e t i T i t i e ® w o r i b y of
jmsr
ability.
I M
?«ry aiacerely yours,
$®eret8ry of ihe Treasery.
H r.
V#
1«
Stark,
Chief. Sectio*, of Financial Ä Economic BeMorefc»
f* «• ’ treaam y ®©paaptra«Bt,
lashiagtoB, 3&.C*
TREASURY DEPARTMENT
Washington
Press Service
No. 2 - <g )
Secretary of the Treasury Morgenthau announced today that he had
accepted, effective September 15th, the resignation of W. R. Stark as
Chief of the Section of Financial and Economic Research of t^Treasury
Department*
At the same time he announced the creation of a division
in the Treasury Department to be known as the Division of JicBa*»*#» and
Statistics and the appointment of George C* Haas as its Director.
The Division of
and Statistics will absorb the functions
of the Section of Financial and Economic Research and will also take
over general supervision of
and statistical studies in the
various bureaus and divisions of the Treasury*
Mr* Haas is now Deputy Governor of the Farm Credit Administration*
The Secretary made public the following letter of resignation from
Mr. Stark, dated August 27th, and his reply thereto, dated August 50th:
TREASURY DEPARTMENT
Washington
FOR IMiviEDIATE RELEASE,
Tress Service
No. 2 - 8 3
Wednesday, September 5, 1934.
Secretary of the Treasury Morgenthau announced today that he had
accepted, effective September 15th, the resignation of W. R. Stark as
Chief of the Section of Financial and Economic Research of the Treasury
Department*
At the same time he announced the creation of a new
division in the Treasury Department to be known as the Division of
Research and Statistics and the appointment of George C. Haas as its
Director.
The Division of Research and Statistics will absorb the functions
of the Section of Financial and Economic Research and will also take
over general supervision of research and statistical studies in the
various bureaus and divisions of the Treasury.
Mr. Haas is now Deputy Governor of the Farm Credit Administration,
The Secretary made public the following letter of resignation from
Mr. Stark, dated August 27th, and his reply thereto, dated August 30th:
’’Brewster, Mass.,
August 27, 1934.
’’Secretary Henry Morgenthau, Jr.,
United States Treasury,
Washington, D. C.
’’Dear Mr. Morgenthau:,-
wAs I have previously stated, to you» I should not wish
under such circumstances to continue in my present position#
I therefore tender my resignation* to take effect if feasihlo*
"by the middle of September#
•*ftjy work and associations in the Treasury have meant much
to me* and I assure you that I take this stop with real regret •
Yours very truly,
(Signod)
W. R. Stark
Chief, Section of Financial
and Economic Research.11
”August 30, 1934#
"Dear Mr, Stark:
"It is with regret that I accept your resignation from
the position of Chief of the Section of Financial and Economic
Research of the Treasury Department#
I appreciate your long
record of faithful and efficient service at the Treasury, and
I hope that you have found, or will find, another sphere for
your activities worthy of your ability
"I am,
Very sincerely yours,
(Signed)
H. MORGENTHATJ, jr,,
Secretary of the Treasury#
"Mr. W. R. Stark,
Chief, Section of Financial & Economic Research,
U. S. Treasury Department,
Washington, D. C, "
- 3 -
Mr. Haas, an economist, has held various executive and advisory
positions in public and private life,.
He was appointed deputy governor of
the Farm Credit Administration, November 20, 1933,
In the spring of 1933 he served as technical adviser to the American
delegation to the International Wheat Conference which convened first in
Geneva, Switzerland, and later transferred its sessions to London,
He later
was appointed one of the economic advisers to the United States delegation
to the World Economic Conference in London,
Upon his return to this country,
late in July, he was made chief economist of the Farm Credit Administration,
His career also included serving as one of the first representatives
abroad of the U.Sj, Department of Agriculture.
He was an Agricultural Com
missioner for the Department, first in Vienna and later in Berlin.
The
Berlin and Vienna offices were consolidated into one under the direction of
Mr, Haas,Mr. Haas was born in St. Paul, Minn., May 31, 1896.
He studied
both at the School of Business and at the College of Agriculture of the
University of Minnesota«.
degree in agriculture.
He graduated in 1921 with a Bachelor of Science
In the following year he was graduated with a Master
of Arts degree in Agricultural Economics,
Mr, Haas pursued further graduate
study in economics at the University of Berlin.
During two summers he has made studies of land colonization methods
in Minnesota, Wisconsin and Michigan for the U.S,Department of Agriculture,
subsequently coming to Washington to engage in research on land valuation
for the Department of Agriculture.
His studies on land valuation were pub
lished by the University of Minnesota.
Later Mr. Haas was detailed to
handle work for the Department on price analysis, going from this into the
foreign field.
After returning from Europe he was placed in charge of the foreign
section of the Bureau of Agricultural Economics,
He left this position to
take charge for two years of industrial research for an investment and
research corporation in Detroit, returning to the Government service as
assistant chief economist of the Federal Farm Board in 1930,
Mr. Stark has held his present position since 1929.
Prior to that
he was for six and one-half years an economist on the research staff of
the Federal Reserve Board.
RECAPITULATION
UNLICENSED NATIONAL BANKS
No,
Number of banks and deposits
on August 1, 1954.
55
Number of banks and deposits
approved during Month of
August
Frozen Deposits
*# 54,962,000.
5.601.000.
59
Number of banks and deposits
■whose plans were withdrawn
58.565.000.
154.000.
Number of banks and deposits
opened during August.
Balance August 51, 1954
58
58.429.000.
15
5.979.000.
45
52.450.000.
^Adjustments have been made for June 1954 Call.
>
Location
Name of Bank
Date
Frozen Deposits
Georgia
Claxton
The First NB of
8/6
#
Indiana
Linton
First National Bank
8/29
856,000.
Iowa
Le Mars
First National Bank
8/24
827,000.
Wisconsin
Clintonville
First National Bank
8/1
Total 5 Banks
75,000.
1.278.000.
#5,044,000.
The following compilation shows the banks receiving approvals
for their reorganization plans during the month of Augusts
Location
Name of Bank
Date
Frozen Deposits
Cons ervatorshiüs
Illinois
Percy
First National Bank
8/6
94,000.
Kansas
Lyndon
First National Bank
8/6
259,000.
New Jersey
Patterson
Labor National Bank
8/6
5,052,000.
Pennsylvania
Spartansburg
Grange National Bank
3/6 .
196.000.
5,601,000.
Total 4 Banks
Receiverships
Pennsylvania
Derry
First National Bank
8/16
74,000.
Texas
West
National Bank of
8/20
151.000.
Total 2 Banks
225,000
3
Frozen Deposits
Location
Name of Bank
Date
District of Columbia
Washington
Industrial Savings Bank
8/15
Georgia
Fitzgerald
Quitman
National Bank of
Peoples First NB
8/9
8/25
547.000.
180.000.
527,000.
Illinois
Amboy
Pontiac
First National Bank in
National Bank of
8/10
8/50
596.000.
857.000.
1,455,000.
Kentucky
Clinton
First National Bank
8/50
210,000.
Nebraska
Decatur
Scribner
First National Bank
First National Bank
8/5
8/27
87,000.
425.000.
510.000.
Oregon
Condon
First National Bank
8/5
155,000.
Pennsylvania
Bridgeville
Hamburg
First National Bank
First NB & Tr. Co.
8/24
8/25
570.000.
989.000.
1,559,000.
South Dakota
Pierre
First National Bank
8/24
458,000.
West Virginia
Williams town
Farmers & Mechanics NB
8/20
145.000.
$
568,000.
#5,979,000.
Total 15 Banks
The five (5) insolvent banks which were opened during the p m t h
of August were as follows:
Location
Name of Bank
Date
Colorado
La Veta
V'
First National Bank
8/29
Frozen Deposits
#
28,000.
—
—
m
7
end of August had received approved reorganization plans from
the Comptrollers Department, and can reopen just as soon as
«•
such plans are carried out.
Unlicensed national banks as of
August 31, 1934-, were divided as follows:
4.3
banks, with frozen
deposits of 152,4-50,000, had approved reorganization plans;
7
U
banks, with $3 ,1 4 -8 , 0 0 0 frozen deposits, had disapproved plans of
reorganization.
Of the
August,
banks licensed by Comptroller 0*Connor during
were national banks which
with $5,411,000 deposits,/had been in the hands of
20
conservators;
1
non-member bank in the District of Columbia,
with $5 6 8 ,0 0 0 deposits, had also been in the hands of a con
servator, and 5, with $3,044,000 in deposits, were insolvent
09
national banks which had been in charge of receivers•
Six banks received approved reorganization plans from the
Comptroller* s Office last month«
Of these, 4 banks, with
$3,601,000 deposits, are in conservatorship; while 2 banks,
with $225,000 deposits, are in receivership.
Below is a list of the unlicensed national banks (including
the one non-member institution in the District of Columbia) which
were opened during August:
Location
Name of Bank
Colorado
Denver
Lamar
South Broadway NB
Lamar National Bank
Date
Frozen Deposits
&
8/17
8/25
$ 227,000.
227.000.
454.000."
*
(»
^ n n M P T P ru .T .-E P
nw
httrpttov
Washington
P ^1 i i i f
nfîiK.1 1
d a t e ! !
!
release! to morn i n g newspapers
Qg MONDAY « SEPTEMBER 10. 1934-
During the month of August, 20 national banks, with frozen
deposits of $9,023,000, were licensed and opened or reopened,
according to J. F. T. 0 »Connor, Comptroller of the Currency.
This brought the number of national banks licen sed during the
f i r s t eight months of 1934- to 362, involving frozen deposits of
$303,311,000, as shown in the following table*
Month
January
February
March
April
May
June
July
August
T 0 t
a 1 s
No. of National
Banks Licensed
69
63
55
36
50
40
29
20
Frozen
Deposits
'
362
$ 68,966,000
62,953,000
34-,739,000
31,393,000
37,4-88,000
33,777,000
24 .,4-72,0 0 0
9,023,000
$303 ,311,000
As a result of the activity by the Comptrollers Office last
month, the number of unlicensed national banks in the United States
had been reduced to 50 at the close of business August 31, 1934..
This total represents merely 3*5 per cent of the 1,427 national
banks (including 10 non-member institutions in the District of
Columbia which come directly under the Comptroller's jurisdiction)
which were unlicensed on March 16, 1933-- -the day following the
termination of the general banking holiday.
Moreover, 86 per
cent of the national banks which still remained unlicensed at the
TREASURY DEPARTMENT
Washington
RELEASE TO MORNING PAPERS
Monday, September 10, 1934.
9-5-34
Press Service
^°* 2 - 8 4
During the month of August, 20 national hanks, with frozen de
posits of $9,023,000, were licensed and opened or reopened, according
to J. F. T. O'Connor, Comptroller of the Currency.
This brought the
number of national banks licensed during the first eight months of
1934 to 362, involving frozen deposits of $303,311,000, as shown in
the following table:
No. of National
Banks Licensed
Month
January
February
March
April
May
June
July
August
T o t a l
s
Frozen
Deposits
69
63
55
36
50
40
29
20
$ 68,966,000
62,953,000
34,739,000
31,893,000
37,488,000
33,777,000
24,472,000
9,023,000
362
$303,311,000
As a result of the activity by the Comptroller's Office
month, the number of unlicensed national banks in the United
had been reduced to 50 at the close of business August 31, 1934.
This
total represents merely 3*5 per cent of the 1,417 national banks (in
cluding 10 non—member institutions in the District of Columbia which
come directly under the Comptroller's jurisdiction) which were un
licensed on March 16, 1933— —the day following the termination of the
general banking holiday.
Moreover, 86 per cent of the national banks
which still remained unlicensed at the end of August had received
approved reorganization plans from the Comptroller's Department, and
can reopen just as soon as such plans are carried out.
Unlicensed
-
2
-
national banks as of August 31, 1934, were divided as follows:
43
banks, with frozen deposits of $52,450,000, had approved reorganization
plans; 7 banks, with $3,148,000 frozen deposits, had disapproved plans
of reorganization.
Of the 20 banks licensed by Comptroller O ’Connor during August,
14, with $5,411,000 deposits, were national banks which had been in
the hands of conservators; 1 non-member bank in the District of Columbia,
with $568,000 deposits, had also been in the hands of a conservator,
and 5, with $3,044,000 in deposits, were insolvent national banks which
had been in charge of receivers.
Six banks received approved reorganization plans from the Comp
troller’s Office last month.
Of these, 4 banks, with $3,601,000 de
posits, are in conservatorship; while 2 banks, with $225,000 deposits,
are in receivership.
Below is a list of the unlicensed national banks (including the
one non-member institution in the District of Columbia) which were
opened during August:
Location
Name of Bank
Date
Colorado
Denver
Lamar
South Broadway NB
Lamar National Bank
8/17
8/25
District of Columbia
Washington
Industrial Savings Bank 8/13
Frozen Deposits
$ 227,000.
227,000.
454,000,
568,000,
(Georgia
Fitzgerald
Quitman
National Bank of
Peoples First NB
8/9
8/25
347,000,
180„000
527,000,
Illinois
Amboy
Pontiac
First National Bank in
National Bank of
8/l0
8/30
596,000
837,000,
1,433,000.
- 3 «
Frozen Deposits
Location
Name of Bank
Date
Kentucky
Clinton
First National Bank
8/30
Nebraska
Decatur
Scribner
First National Bank
First National Bank
8/3
8/27
87,000.
423.000.
510.000.
Oregon
Condon
First National Bank
8/3
135,000.
Pennsylvania
Bridgeville
Hamburg
First National Bank
First NB & Tr. Co.
8/24
8/23
570.000.
989.000.
1,559,000.
South Dakota
Pierre
First National Bank
8/24
438,000.
West Virginia
Will iamstown
Farmers & Mechanics NB 8/ 20_
$
210,000.
145,000.
$5,979,000.
Total 15 Banks
The five (5) insolvent banks which were opened during the month
of August were as follows:
Frozen Denosits
Location
Name of Bank
Date
Colorado
La Veta
First National Bank
8/29
Georgia
Claxton
The First N3 of
8/6
75,000.
Indiana
Linton
First National Bank
8/29
836,000.
Iowa
Le Mars
First National Bank
8/24
827,000.
Wisconsin
Clintonville
First National Bank
8/1
Total 5 Banks
$
28,000.
1,278,000.
$3,044,000.
The following compilation shows the "banks receiving approvals
for their reorganization plans during the month of August:
-
Location
Date
Name of Bank:
Frozen Denosi
Conservato r shio s
Illinois
Percy
First National Bank
8/6
Kansas
Lyndon
First National Bank
8/6
259,000,
New Jersey
Patterson
Labor National Bank
8/6
3,052,000.
Grange National Bank:
8/6
196,000.
Pennsylvania
Spart ansburg
$
94*000*
3,601,000.
Total 4 Banks
Receivershins
Pennsylvania
Derry
First National Bank
8/16
74,000.
Texas
West
National Bank of
8/20
151,000.
225,000.
Total 2 Banks
RECAPITULAIT ION
UNLICENSED NATIONAL BANKS
No.
Frozen Denosits
Number of banks and deposits
on August 1, 1934.
55
♦ $ 54,962,000.
Number of banks and deposits
approved during Month of
August
4
3,601,000*
59
58,563,000#
1
134,000,
58
58,429,000.
15
5.979,000.
43
52,450,000.
Number of banks and deposits
whose plans were withdrawn
Number of banks and deposits
opened during August,
Balance August 31, 1934
♦Adjustments have Been made for June 1934 Call
TREASURY DEPARTMENT
Washington
September 7, 1934
MEMORANDUM FOR THE PRESS:
The preliminary statement of Internal Revenue Collections for
the fiscal year 1934, which bears the printed notice of release for
publication in the morning papers of September 10, 1934, should not
be released until Tuesday morning September 11. 1934.
carefully this change of release date
Please note
TREASURY DEPARTMENT
Washington
September 6, 1934«
MEMORANDUM FOR THE PRESS:
The preliminary statement of Internal Revenue Collections for
tho fiscal year 1934, which hears the printed notice of release for
publication in the morning papers of September 10, 1934, should not
be released until Tuesday morning, September 11« 1934«
carefully this change of release date
Please note
TREASURY DEPARTMENT
POR RELEASE, MORNING PAPERS,
Saturday, Septeniber 8, 1934.
9-7-34.
Press Service
No. 2 - 8 5
9
iit
Examiners' conferences, to he attended hy "bank examiners on the staffs
of the Comptroller of the Currency, the Federal Reserve Board and the Federal
reserve "banks, the Reconstruction Finance Corporation, and the Federal Deposit
Insurance Corporation, will be held in Washington, September 10 and 11, it was
announced today at the Treasury Department,
The Conferences will give consideration to the development of a uniformity
in the scope and technique of examinations by the various Federal agencies.
The various sessions of the two—day conferences will be addressed by the
$
j
Secretary of the Treasury, Henry Morgenthau, Jr., the Comptroller of the Cur
rency, J.F.T.O'Connor, the Vico Governor of the Federal Reserve Board, J. J.
Thomas, the Chairman of the Reconstruction Finance Corporation, Jesse H. Jones,
the Chairman of the Federal Deposit Insurance Corporation, Leo T. Crowley, and
the President of the American Bankers Association, Francis M. Law, of Houston,
Texas, . Mornings will be devoted to departmental sessions, with joint meetings
in the afternoons.
These group meetings are an outgrowth of a series of meetings with the
Secretary of the Treasury, attended by the heads of the Federal bank-examining W
agencies.
conferences.
This inter-agency committee reconmended the holding of the joint
J
rn tri
Washington
Treasury Department
Washington
Release to Morning Papers
Saturday, September 8, 1954
Press Service.
9/7/34
Examiners* conferences, to be attended by bank examiners on the
staffs of the Comptroller of the Currency, the Federal Reserve
Beard and the Federal reserve banks, the Reconstruction Finance
Corporation, and the Federal Deposit dflfe Insurance Corporation, will
be held in Washington, September 10 and 11, it was announced today
at the Treasury Department*
The Conferences will give consideration
to the development of a
uniformity in the scope and technique of examinations b y the
various Federal agencies*
The various sessions of the two-day conferences will be addressed
by the Secretary of the Treasury, H enry Morgenthau, <*r*, the
Comptroller of the Currency, J* F. T* 0 fCojmor, the Vice Governor
of the Federal Reserve Board, J* J* Thomas, the Chairman of the
Reconstruction Finance Corporation, Jesse H* Jones, the Chairman of
the Federal Deposit Insurance Corporation, Leo T* Crowley,
and the
President of the American Bankers Association, Francis M • Law, of
Houston, $oxas.
Mornings will be devoted to departmental sessions,
with joint meetings in the afternoons.
These group meetings are an outgrowth of a series of meetings
with the Secretary of the Treasury, attended by the heads of the
Federal bank-examining agencies* This inter-agency committee
recommended the holding of the joint conferences.
Treasury Bonds of 1944-46
3-1/4 percent Treasury bonds of 1944-46 are offered only in exchange
for Fourth Liberty Loan 4-1/4 percent bonds of 1933-38 called for
redemption on October 15, 1934*
The bonds will be an addition to and
will form a part of the series of 3-1/4 percent Treasury bonds of 1944-46,
issued pursuant to Department Circular No* 508, dated April 4, 1934*
They
are identical in all respects with such bonds, with which they will be freely
interchangeable*
These bonds are dated April 16, 1934, and will bear interest
A.
at the rate of 3-1/4 percent per annum payable on a semiannual basis*
coupon bonds will carry the semiannual coupon payable October 15«
The
They will
mature April 15, 1946, but are redeemable at the option of the United States
on and after April 15, 1944*
The amount of the additional offering of these
bonds is limited to the amount of such called Fourth liberty Loan bonds
tendered and accepted*
As more specifically stated in the official circular, the bonds will
be exempt, both as to principal and interest, from all taxation except
surtaxes, estate and inheritance taxes, and excess-profits and war-profits
taxes; the interest on bonds of $5,000 principal amount under one ownership
will be exempt from all taxation*
Bearer bonds with interest coupons and bonds registered as to
principal and interest will be issued in denominations of $50, $100, $500,
$1,000, $5,000, $10,000 and $100,000*
Treasury Notes, Segries D-1956
Treasury notes of Series D1936 are offered only in exchange for
Treasury certificates of indebtedness of Series T3S-1934, maturing
September 15, 1934*
»
The notes Kill be dated September 15, 1934, and
will bear interest from that date at the rate of lj percent per annum,
payable
They will mature September 15, 1936, and will
Q juU
'
not be subject toJ(redemption prior to maturity.
The amount of the
offering is limited to the amount of the certificates maturing September 15,
1934, tendered and accepted.
Treasury Notes, Series D-1958
P
Treasury notes of Series D-1958 are offered only in exchange for
Fourth Liberty Loan 4-1/4 percent bonds of 1933—38 called for redemption
on October 15, 1934.
The notes will be dated September 15, 1934, and will
.
bear interest from that date at the rate of 2£ percent per annum.
».
They
I
will mature on September 15, 1938, and will not be subject to call for
redemption prior to maturity.
The amount of the offering is limited to
the amount of ouch called Fourth Liberty Loan bonds tendered and accepted.
Treasury notes of both series will be exempt, both as to principal
and interest, from all taxation (except estate or inheritance taxes)
now or hereafter imposed b y the Dhited States, any State, or any of the
^
possessions of the TJhited States, or by any local taxing authority.
The Treasury notes will be issued in bearer form only, in denominations
of #100, #500, #1,000, #5,000, #10,000
and #100,000, and the additional
1
f
denomination of #50 will be made available in notes of Series D-1938.
I
will be made so that all holders of called Fourth Liberties will
receive interest on them in full to October 15, while on the securities
i from
obtained in exchange fhr-— rri1it rarrp‘vr
September 15«
TViq
am o iiw p eii ftPEMi'' w rc liBin g e irt
fO
No other exchange offering will be made for these called
Fourth Liberties.
The bonds eligible for exchange for the new securities are
the Fourth Liberty Loan 4j per cent bonds of 1955-58 included in the
f
second call for redemption, issued April 15, 1954.
They are those
bearing serial numbers ending with the digit £ or the digit 8, which
in the case of permanent coupon bonds are preceded by the distinguishing
letters B or H.
Their total face amount is slightly less than
$1,£50,000,OCX).
Interest on all these called bonds, whether they
are exchanged or not, ceases on October 15, 1954.
The amount of Treasury certificates of indebtedness of
Series TS-1954, maturing September 15, is $524,748,500.
Holders of the maturing certificates of indebtedness or the
called bonds who desire to take advantage of the exchange offering
should act promptly.
A brief description of the three issues now offered for
subscription follows:
f&
%4h |
A M ^
I ^wv^ll^WM-vvA /V-£<a*
pta
A. (O. «1 W
Secretary of the Treasury Morgenthau is today offering for
subscription through the Federal Reserve Banks two series of Treasury
notes and an issue of bonds in exchange for Treasury certificates of
indebtedness of Series TS-1954 maturing September IS, 1954 and Fourth
Liberty Loan 4j per cent bonds called for redemption October 15, 1954.
The offering is entirely on an exchange basis.
Cash subscriptions
will not be received.
Of the notes, one series, maturing in two years and bearing
interest at the rate of one and one-half per cent per annum, is offered
only in exchange for the certificates of indebtedness maturing Septem
ber 15, which bear interest
at the same rate.
This is the only exchange
offering open to the holders of these maturing certificates.
The second series of notes, maturing in four years and bearing
interest at the rate of two and one-half per cent per annum, is offered
only in exchange for Fourth Liberty Loan bonds called for redemption
October 15.
An additional issue of 5j per cent Treasury bonds of 1944-46
is also offered in exchange for the called Fourth Liberties.
Bonds of
this additional issue are identical with and form part of the series
i
first issued April 16, 1954.
They willto&ture April 15, 1946, but are
v
\
redeemable on and after April 15, 1944.
Thus holders of the called Fourth Liberties will have the
opjion of exchanging for a four—year note bearing 2^ per cent interest
or a 10-12 year
per cent bond.
In each case interest adjustments
jr
i
TREASURY DEPAB33MJJ
Washington
RELEASE, MORNIRG NEWSPAPERS,
Monday» September, IQ, 1934.
f ’9-8-34
■
Press Service
Noy 2 - 86
Secretary of the Treasury Morgenthau is today offering for sub—
scription through the federal Reserve Banks two series of Treasury notes
and an issue of bonds in exchange for Treasury certificates of indebtedness
of Series TS-1934 maturing September 15, 1934 and Fourth Liberty Loan 4j
per cent bonds called for redemption October 15, 1934.
entirely on an exchange basis.
The offering is
Cash subscriptions will not be received.
Of the notes, one series, maturing in two years and bearing in
terest at the rate of one and one-half per cent per annum, is offered only
in exchange for the certificates of indebtedness maturing September 15,
which bear interest at the same rate.
This is the only exchange offering
open to the holders of these maturing certificates.
The second series of notes, maturing in four years and bearing ix>terest at the rate of two and one-half per cent per annum, is offered only
in exchange for Fourth Liberty Loan bonds called for redemption October 15.
An additional is sue of 3j per cent Treasury bonds of 1944-46 is
also offered in exchange for the called Fourth Liberties.
Bonds of this
additional issue are identical with and form part of the series first issued
April 16, 1934.
They will mature April 15, 1946, but are redeemable on and
after April 15, 1944.
Thus holders of the called Fourth Liberties will have the option
of exchanging for a four-year note bearing
year 3J- per cent bond.
per cent interest or a 10-12
In each case interest adjustments will be made so
that all holders of called Fourth Liberties will receive interest on them
in full to October 15, while on the securities obtained in exchange interest
will accrue to them from September 15.
-
2
-
.No other exchange offering will he made for these called Fourth
Liberties*
The bonds eligible for exchange for the new securities are the
Fourth Liberty Loan
per cent bonds of 1933-38 included in the second
call for redemption, issued April 13, 1934.
They are those bearing serial
numbers ending with the digit 2 or the digit 8, which in the case of
permanent coupon bonds are preceded by the distinguishing letters B or H,
Their total face amount is slightly less than $1,250,000,000.
Interest
on all these called bonds, whether they are exchanged or not, ceases on
October 15, 1934.
The amount of Treasury certificates of indebtedness of Series
TS-1934, maturing September 15, is $524,748,500.
Holders of the maturing certificates of indebtedness or the
called bonds who desire to take advantage of the exchange offering should
act promptly.
A brief description of the three issues now offered for subscrip
tion follows:
Treasury Notes, Series IKL936
Treasury notes of Series D-1936 are offered only in exchange for Treasury
certificates of indebtedness of Series T3-1934, maturing September 15, 1934.
The notes will be dated September 15, 1934, and will bear interest from that
date at the rate of 1-g- per cent per annum, payable semiannually.
They will
mature September 15, 1936, and will not be subject to call for redemption
prior to maturity.
The amount of the offering is limited to the amount of
the certificates maturing September 15, 1934, tendered and accepted.
Treasury Notes, Series D-1938
Treasury notes of Series D-1938 are offered only in exchange for
Fourth Liberty Loan 4-1/4 per cent bonds of 1933-38 called for redemption
on October 15, 1934.
The notes will be dated September 15, 1934, and will
bear interest from that date at the rate of Si per cent per annum.
They
will mature on September 15, 1938, and will not be subject to call for
redemption prior to maturity.
The amount of the offering is limited to
the amount of such called Fourth Liberty Loan bonds tendered and accepted.
Treasury notes of both series will be exempt, both as to principal
and interest, from all taxation (except estate or inheritance taxes)
now or hereafter imposed by the United States, any State, or any of the
possessions of the United States, or by any local taxing authority.
The Treasury notes will be issued in bearer form only, in denominations
of $100, $500, $1,000, $5,000, $10,000 and $100,000, and the additional
denomination of $50 will be made available in notes of Series D-1938.
Treasury Bonds of 1944-46
3—l/4 per cent Treasury bonds of 1944—46 are offered only in exchange
for Fourth Liberty Loan 4~l/4 per cent bonds of 1933-38 called for re
demption on October 15, 1934.
The bonds will be an addition to and will
form a part of the series of 3—1/4 per cent Treasury bonds of 1944-46,
issued pursuant to Department Circular No. 508, dated April 4, 1934,
They,
are identical in all respects with such bonds, with which they will be
freely interchangeable«
These bonds are dated April 16, 1934, and will
bear interest at the rate of 3—1/4 per cent per annum payable on a semi
annual basis.
October 15.
The coupon bonds will carry the semiannual coupon payable
They will mature April 15, 1946, but are redeemable at the
- 4 -
option of the United States on and after April 15, 1944.
The amount of
the additional offering of these bonds is limited to the amount of such
called Fourth Liberty Loan bonds tendered and accepted.
As more specifically started in the official circular, the bonds will
be exempt, both as to principal and interest, from all taxation except
surtaxes, estate and inheritance taxes, and excess-profits and war-profits
taxes; the interest on bonds of $5,000 principal amount under one ownership
will be exempt from all taxation.
Bearer bonds with interest coupons and bonds registered as to principal
and interest will be issued in denominations of $50, $100, $500, $1,000,
$5,000, $10,000 and $100,000.
UNITED STATES OE AMEBICA
TREASURY NOTES
Series
1”'2 percent
D~1936
Due September 15* 193^
pated and "bearing interest from September 15» 193^
Interest payable March 15 and September 15
OFFERED ONLY IN EXCHANGE FOR TREASURY CERTIFICATES OF INDEBTEDNESS OF
SERIES TS-193H
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, September 10,193^*
19 3 1+
Department Circular No» 5^2
(Public Debt Service)
EXCHANGE OFFERING OF NOTES
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 2U, 1917» as amended, offers for subscription,
at par, one and one-half percent notes of the United States, designated Treasury
notes of Serie$ D-I936 , in payment of which only Treasury certificates of indobtocU
ness of Series TS-193^, maturing September 15, 193*+» may he tendered.
The amount
of the offering is limited to the amount of Treasury certificates of indebtedness
of Series TS-193^ tendered and accepted.
DESCRIPTION OF NOTES
The notes will be dated September 1 5 , 193 U* and will bear interest from that
date at the rate of one and one-half percent per annum, payable semiannually on
March 15 and September 15 in each year.
They will mature September 15, 1936, and
will not be subject to call for redemption prior to maturity.
The notes shall be exempt, both as to principal and interest, from all taxa~ .
tion (except estate or inheritance taxes) now or hereafter imposed by the United
States, any State, or any of the possessions of the United States, or by any
local taxing authority.
The notes will he accepted at par during such time and under such rales and
regulations as shall he prescribed or approved by the Secretary of the Treasury in
payment of income and profits taxes payable at the maturity of the notes.
The notes will be acceptable to secure deposits of public moneys, but will not
bear the circulation privilege.
Bearer notes with interest coupons attached will be issued in denominations of
$100, $500, $1,000, $5,000, $10,000 and $100,000.
The notes will not be issued in
registered form.
APPLICATION AND ALLOTMENT
Applications will be received at the Federal reserve banks and branches and at
the Treasury Department, Washington.
Banking institutions generally will handle
applications for subscribers, but only the Federal reserve banks and the Treasury
Department are authorized to act as official agencies.
Subject to the reservations made in the next succeeding paragraph, all sub
scriptions will be allotted in full.
The Secretary of the Treasury reserves the right to reject any subscription,
in whole or in part, and to close the books as to any or all subscriptions at any
time without notice; and any action he may take in these respects shall be final.
Allotment notices will be sent out promptly upon allotment.
TEEMS OF PAYMENT
Payment at par for any notes allotted under this circular must be made on or
before September 15, 193)+, or on later allotment, and may be made only in Treasury
certificates of indebtedness of Series TS-193^» maturing September 15» 193^» which
will be accepted at par, and should accompany the subscription.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up to
the amounts indicated by the Secretary of the Treasury to the Federal reserve
banks of the respective districts, to issue allotment notices, to receive payment
for notes allotted, to make delivery of notes on full-paid subscriptions allotted,
and they may issue interim receipts pending delivery of the definitive notes.
The Secretary of the Treasury may at any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering
which will be communicated promptly to the Federal reserve banks.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
U N I T E D STATES OF A M E R I C A
T R E A S U R Y NOTES
2- 1/2 percent
S eries D-1938
Du e S e p t e m b e r 15,
1938
D a t e d a n d b e a r i n g interest f r o m Sep t e m b e r 15» 193*+
Interest p a yab l e M a r c h 15 a n d Sep t e m b e r 15
OF F E R E D ONLY IN E XC H A N G E F O R S E C O N D - C A L L E D F O U R T H L I B E R T Y L O A N B O N D S
193*+
Depart m e n t Circular No.
T R E A S U R Y DEPARTMENT,
Office of the Secretary,
Washington, S e p t e m b e r
523
10, 193*+»
(Public Debt Service)
EXCHANGE OFFERING OF NOTES
The Secr e t a r y of the Treasury, pursuant to the a u t h o r i t y of the Se c o n d
L i b e r t y B o n d Act, a p p r o v e d Septe m b e r
tion, at par,
as amended,
offers for s u b s c r i p
two a n d one- h a l f p e rcent notes of the U n i t e d States,
T r e a s u r y notes o f Series
*+-l/*+ percent bonds of
Oc t o b e r
2k9 1917»
designated
D-1938» in payment of w h i c h only F o u r t h L i b e r t y L o a n
1933-38 i n c l u d e d in the se c o n d call f o r r e d e m p t i o n o n
15» 193*+ (hereinafter r e f e r r e d to as S e c o n d - c a l l e d F o u r t h U— l/*+*s),—
m a y be tendered.
The amount of the offering is l i mited to the amount of Second-?
c a l l e d F o u r t h U-l/U*s tend e r e d a n d accepted.
F o u r t h L i b e r t y L o a n b o n d s not in
c l u d e d in the second call for re d e m p t i o n on Oct o b e r
1 5 , 193*+»
w i l l not be a c cept-
2
ed for exchange u n d e r this circular. *“*
,1 Pursuant to the second call for par t i a l r e d e m p t i o n (see D e p a rtment Circular
No. 509» d a ted A p r i l 1 3 » 193*+)» a ll out s t a n d i n g F o u r t h L i b e r t y L o a n U— 1 /If p e r
cent bonds of 1933-38 b e a ring serial numbers e n d i n g i n 2 or 8 (in the case of
p e rmanent coupon bonds p r e c e d e d b y the d i s t i n g u i s h i n g le t t e r B or H, r e s p e c t i v e
ly) ha v e b e e n called f o r r e d e m p t i o n on Oc t o b e r 15» 193*+» on w h i c h date interest
on such bonds w i l l cease.
f
<2 F i r s t - c a l l e d F o u r t h U-l/U*s (which c eased to b e a r interest on A p r i l 15»193*+)
be a r serial numbers e n d i n g in 9» 0 or 1 ( in the case of per m a n e n t c o upon bonds
p r e c e d e d b y the disting u i s h i n g le t t e r J,
or A, respectively), a n d u n c a l l e d
K
F o u r t h U-l/U*s bea r serial nu m b e r s e nding i n 3 » *+» 5» 6 or 7 (in the case of
permanent coup o n bonds p r e c e d e d b y the d i s t i n g u i s h i n g l e t t e r C, D, E, F or G,
respectively).
- 2—
In addition to the exchange offering under this circular, holders of
Second-called Fourth
l/4*s are also offered the privilege of exchanging all or
ary part of such called bonds for
percent Treasury bonds of
offering is set forth in Department Circular No*
5 2 ^»
1 9J
4I4—1+6,
which
issued simultaneously with
circular,
DESCRIPTION OP NOTES
The notes will be dated September 15, 193^» Q-nd will bear interest from that
date at the rate of two and one-half percent per annum, payable semiannually on
March 15 and September 15 in each year.
They will mature September 1 5 , 1938 , and
will not be subject to call for redemption prior to maturity,
xhe notes shall be exempt, Dotn as to principal and interest, from all taxa
tion (except estate or inheritance taxes) now or hereafter imposed by tho United
States, any State, or any of the possessions of the United States, or by any
local taxing authority.
The notes will be accepted at par during such time and under such rules and
regulations as shall be prescribed or approved by the Secretary of the Treasury in
payment of income and profits taxes payable at the maturity of the notes.
The notes will be acceptable to secure deposits of public moneys, but will
not bear the circulation privilege.
Bearer notes with interest coupons attached will be issued in denominations
of $50, $100, $500, $1,000, $5,000, $10,000 and $100,000.
Tho notes will not be
issued in registered form,
APPLICATION AND ALLOTMENT
Applications will bo received at tho Federal reserve banks and branches and
at the Treasury Department, Washington.
Banking institutions generally will
handle applications for subscribers, but only the Federal reserve banks and the
Treasury Department are authorized to act as official agencies.
Subject to the reservations made in the next succeeding paragraph, all sub
scriptions will be allotted in full.
V#
f
L
m
-3The Secretary of the Treasury reserves the right to reject any subscription,
i-n whole or in part, and to close the "books as to any or all subscriptions at any
time without notice; and any action he may take in these respects shall be final«
|
Allotment notices will be sent out promptly upon allotment.
TEEMS OE PAYMENT
Payment at par for any notes allotted under this circular must be made on or
before September 15, 1934, or on later allotment, and may be made only in Secondcalled Fourth 4-1/4's, which will be accepted at par, and should accompany the
subscription.
If any subscription is rejected, in whole or in part, the Second-
called Fourth 4-1/4's tendered therewith and not accepted will be returned to the
subscriber.
$
Interest on Second—called.. Fourth 4-1/4's tendered and accepted will be paid
in full to October 15, 1934., on which date interest on all Second-called Fourth
^ s will cease.
Such payments will be made, in the case of coupon bonds,
v4
through payment of -coupons dated October 15, 1934, when due, which coupons must
be detached by holders before presentation of the bonds for exchange for the notes
offered •thereunder, and, in the case of registered bonds, through the issue of
.interest checks in regular course for final interest due October 15, 1934, in
favor of the holders of record on September 15, 1934.
SURRENDER OF SECOND-CALLED FOURTH 4-1/4'S ON EXCHANGE
-?,°up°n„„Bonds*
f
Second—called Fourth 4-1/4's in coupon form tendered in
exchange for Treasury notes offered hereunder, should be presented and surrendered
to a Federal reserve bank or to the Treasurer of the United States and should
tvI
| accompany the application. All coupons bearing dates subsequent to October 15,1934,
§>
f 3 It will be noted that Second-called Fourth 4—l/4's in coupon form tendered in
exchange for 3-1/4 percent Treasury bonds unde.r Treasury Circular No. 524 must have
the October 15, 1934 coupons attached as the interest represented by such coupons
I will be applied to the accrued interest on the 3-1/4 percent Treasury bonds
issued in exchange and the balance paid on delivery of such bonds or promptly
k following
allotment.
-4should be attached to such coupon bonds when surrendered, and if any, such
coupons are missing, the application must be accompanied with cash payment
4
equal to the fact amount of the missing coupons.
The bonds must be
delivered at the expense and risk of the holder.
Facilities for transporta
tion of bonds by registered mail insured may be arranged between incorporated
banks and trust companies and the Federal reserve banks, and holders may
take advantage of such arrangements when available, utilizing such
incorporated banks and trust companies as their agents.
Incorporated banks
and trust companies are not agents of the United States under this circular.
legistered Bonds.
tendered m
Second-called Fourth 4-1/4's in registered form
exchange for Treasury notes offered hereunder, should be assigned
by the registered payee or assigns thereof to "The Secretary of the Treasury
for exchange for Treasury notes of Series D-1938", in accordance with the
general regulations of the Treasury Department governing' assignments for
transfer or exchange, and thereafter should be presented and surrendered with
the application to a Federal reserve bank or to the Treasury Department,
Division of Loans and Currency, Washington.
The bonds must be delivered at
the expense and risk of the holder.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up
to the amounts indicated by the Secretary of the Treasury to the Federal reserve
banks of the respective districts, to issue allotment notices, to receive payment
for notes allotted, to make delivery of notes on full-paid subscriptions allotted,
4 The final coupon attached to temporary coupon bonds became due on October 15,
1920. The holders of any such temporary bonds which, are included in the second
call for partial redemption on October 15, 1934, will receive the past due
interest from October 15, 1920, if such bonds are tendered for exchange under
this circular.
and they may issue interim receipts pending delivery of the definitive
notes.
The Secretary of the Treasury may at any time, or from time to time,
prescribe supplemental or amendatory rules and regulations governing the
offering which will be communicated promptly to the Federal reserve banks.
HENRY MOEGENTHAU, JE.,
Secretary of the Treasury.
UNITED STATES OF AMERICA
3-1/4 PERCENT'TREASURY BONDS OF 1944-46
Additional Issue
Dated and "bearing interest from April 16, 1934
A-
Dae April 15, 1946
Redeemable at the option of the United States at par and accrued
interest on and after April 15, 1944
OFFERED ONLY IN EXCHANGE FOR SECOND-CALLED FOURTH LIBERTY LOAN BONDS
I
1934
Department Circular No. 524
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, September 10, 1934.
(Public Debt Service)
EXCHANGE OFFERING OF BONDS
The Secretary erf the Treasury, pursuant to the authority of the Second Liberty
Bond Act, approved September 24, 1917, as amended, for refunding purposes, invites
L
subscriptions, at par with an adjustment of accrued interest as of September 15,
I 1934, from the people of the United States, for three and one—quarter percent
• Treasury bonds of 1944-46, in payment of which only Fourth Liberty Loan 4-l/4
percent bonds of 1933-38 included in the second call for redemption on October 15,
1934 (hereinafter referred to as Second—called Fourth 4—l/4*s) may be tendered.“
The amount of the additional issue of three and one—quarter percent Treasury bonds
of 1944-46 will be limited to the amount of Second-called Fourth 4-l/4*s tendered
and accepted.
Fourth Liberty Loan bonds not included in the second call for
redemption on October 15, 1934, will not be accepted for exchange under this
.
2
circular'.—
1 Pursuant to the second call for partial redemption (see Department Circular No.
\ 509, dated April 13, 1934) all outstanding Fourth Liberty Loan 4~l/4 percent bonds of
$ 1933—38 bearing serial numbers ending in 2 or 8 (in the case of permanent coupon
| bonds preceded by the distinguishing letter B or H, respectively) have been called
for redemption on October 15, 1934, on which date interest on such bonds will cease.
2 First-called Fourth 4-l/4*s (which ceased to bear interest on April 15, 1934) be
i S P 1“ ^ e r s endinrin 9, 0 or 1 (in the case of permanent coupon bonds preceded
o0-id1l tlnfuishl'nf'let'ter J * K or A > respectively), and uncalled Fourth 4-l/4is bea
ceded
■ef?lne.1“ .3’ 4’ 5* 5 or 7 (in the case of permanent coupon bonds pre
ceded by the distinguishing letter C, D, E, F or G, respectively).
-
2
-
In addition to the exchange offering under this circular, folders of Second*?*
called Fourth 4-1/4’s are also offered the privilege of exchanging all or any part
of such called bonds for 2-1/2 percent Treasury notes of Series D-1938, which
offering is set forth in Department Circular No. 523, issued simultaneously with
this circular.
DESCRIPTION OF BONDS
The "bonds now offered will be an addition to and will form a part of the series
of three and one-quarter percent Treasury bonds of 1944-46 issued pursuant to Depart
ment Circular No. 508, dated April 4, 1934, are identical in all respects therewith,
will be freely interchangeable, and are described in the following quotation from
said Circular No. 508:
’’The bonds will be dated April 16, 1934, and will bear interest from
that date at the rate of three and one-quarter percent per annum, payable
on October 15, 1934, on a semiannual basis, and thereafter semiannually
on April 15 and October 15 in each year until the principal amount be
comes payable.
They will mature April 15, 1946, but may be redeemed at
the option of the United States on and after April 15, 1944, in whole or
in part, at par and accrued interest, on any interest day or days, on
4 months’ notice of redemption given in such manner as the Secretary of
the Treasury shall prescribe.
In case of partial redemption the bonds
to be redeemed will be determined by such method as may be prescribed by
the Secretary of the Treasury.
From the date of redemption designated
in any such notice, interest on the bonds called for redemption shall
cease.
’’Bearer bonds with interest coupons attached and bonds registered
as to principal and interest will be issued in denominations of $50,
$100, $500,. $1,000, $5,000, $10,000, and $100,000.
Provision will be
made for the interchange of bonds of different denominations and of
coupon and registered bonds and for the transfer of registered bonds
under rules and regulations prescribed by the Secretary of the Treasury.
“The bonds shall be exempt, both as to principal and interest, from
all taxation now or hereafter imposed by the United States, any State,
or any of the possessions of the United States, or by any local taxing
authority, except (a) estate or inheritance taxes, and (b) graduated
additional income taxes, commonly known as surtaxes, and excess-profits
and war—profits taxes, now or hereafter imposed by the United States, upon
the income or profits of individuals, partnerships, associations, or
corporations.
The interest on an amount of bonds authorized by said
act approved September 24, 1917, as amended, the principal of which does
not exceed $5,000, owned by any individual, partnership, association, or
corporation, shall be exempt from the taxes provided for in clause (b)
above.
“The bonds will be acceptable to secure deposits of public moneys,
and will bear the circulation privilege only to the extent provided in
the act approved July 22f 1932, as amended.
They will not be entitled
to any privilege of conversion,
“Tiie bonds will be subject to the general regulations of the
Treasury Department, now or hereafter issued, governing United States
bonds.11
APPLICATION AMD ALLOTMENT
Applications will be received at the Federal reserve banks and branches and at
the Treasury Department, Washington.
Banking institutions generally will handle
applications for subscribers, but only the Federal reserve banks and the Treasury
Department are authorized to act as official agencies.
Surest to the reservations made in the next succeeding paragraph, all subscriptions will be allotted in full.
W
The Secretary of the Treasury reserves the right to reject any subscription,
| in whole or in part, and to close the books as to ary or all subscriptions at any
time without notice; and any action ho may take in those respects shall bo final.
Allotmont notices will bo sont out promptly upon allotmont,
TERMS OF PAYMENT
Payment at par and accrued interest to September 15, 1934, for any bonds
allotted under this circular must be made on or before September 15, 1934, or on
later allotment.
Payment of the principal amount may be made only in Second-called
I fourth 4-1/4 s, which will be accepted at par, and should accompany the subscrip
tion.
If any subscription is rejected, in whole or in part, the Second-called
| fourth 4-1/4*s tendered therewith and not accepted will be returned to the sub‘ scriber.
I
Interest on Second-called Fourth 4-l/4's tendered and accepted will be paid
in full to October 15, 1934.
In the case of coupon bonds accepted in exchange such
I interest will be anticipated and paid upon the terms and conditions hereinafter
prescribed.
Interest on all Second-called Fourth 4-l/4's will cease on October 15,
1934.
P
Bonds,
Coupon bonds tendered in payment should have coupons dated Octo
ber 15, 1934, as well as all subsequent coupons attached.
I
3~l/4 percent Treasury
do in coupon form issued in exchange will have all coupons attached, including
the coupon maturing October 15, 1934; and a payment of the amount by which tho
4-1/4 percent coupon maturing October 15, 1934, exceeds tho accrued interest from
j ril 16 to September 15, 1934, of tho 3-l/4 parcont coupon maturing October 15,1934,
|
h excoss toinS $7,752732 por $1,000 principal amount) will be made upon delivery
of the 3-1/4 percent coupon bond. 3-1/4 percent Treasury bonds in registerodform issued
;
- 5 -
in exchange will bear interest from September 15, 1934; and a payment of the full
amount of tnc 4—1/4 percent coupon maturing October 15, 1934, will bo made promptly
following allotment.
Registered Bonds.
Interest on registered bonds tendered in payment and accepted
will be payable on October 15, 1934 to the holders of record on September 15, 1934,
the date of closing of the transfer books.
3-1/4 percent registered bonds issued
in exchange for registered bonds will bear interest from September 15, 1934; and
no cash payment for accrued interest will be required.
3-l/4 percent Treasury bonds
in coupon form issued in exchange for registered bonds will have all coupons attached,
including the coupon maturing October 15, 1934; accordingly, a cash payment for
accrued interest from April 16 to September 15, 1934, ($13.497268 per $1,000 prin
cipal amount) must accompany the application,
SURRENDER OF SECOND-CALLED FOURTH 4~l/4*S ON EXCHANGE
.Q.QP-PQu ,Bonds.
Second-called Fourth 4-1/4’s in coupon form tendered in exchange
for Treasury bonds offered hereunder, should bo presented and surrendered to a
Federal reserve bank or to the Treasurer of the United States and should accompany
3
the application. Coupons dated October 15, 1934, and all coupons bearing dates sub
sequent to October 15, 1934, should be attached to such coupon bonds when surrendered,
and if any such coupons are missing, the application must be accompanied with cash
4
payment equal to the face amount of the missing coupons.
The bonds must be delivered
at the expense and risk of the holder.
Facilities for transportation of bonds by
registered mail insured may be arranged between incorporated banks and trust companies
and the Federal reserve banks, and holders may take advantage of such arrangements
3 It will be noted that Second-called Fourth 4-1/4’s in coupon form tendered in ex
change for 2-1/2 percent Treasury notes of Series'D-1938 under Department Circular No,
523 will not have the October 15, 1934, co\?pon attached; and there will, accordingly,
be no anticipation of interest upon exchange for: notes under such circular,
4 The final coupon attached to temporary coupon bonds became due on October 15, 1920.
The holders of any such temporary bonds which are included in the s econd call for
partial redemption on October 15, 1934, will receive the past due interest from
October 15, 1920, if such bonds are tendered for exchange under this circular.
when availaole, utilizing such incorporated "banks and trust companies as their agents
Incorporated banks and trust companies are not agents of the United States under this
circular.
.Registered Bonds.
Second-called Fourth 4—1/4 1s in registered form tendered
in exchange for Treasury bonds offered hereunder should be assigned by the registered
payee or assigns thereof in accordance with the general regulations of the Treasury
Department governing assignments for transfer or exchange in one of the forms here
after set forth, and thereafter should be presented and surrendered with the applica
tion to a Federal reserve bank or to the Treasury Department, Division of Loans and
Currency, Wasxiington.
holder.
The bonds must be delivered at the expense and risk of the
If Treasury bonds are desired registered in the same name as the Second-
called Fourth 4-1/4*s surrendered, the assignment should be to HThe Secretary of the
is
I
Treasury for exchange for Treasury bonds of 1944—46,f; if Treasury bonds are desired
registered in another name, the assignment should be to ’’The Secretary of the
Treasury for exchange for Treasury bonds of 1944-46 in the name of _______________ »;
if Treasury bonds in coupon form are desired, the assignment should be to nThe
Secretary of the Treasury for exchange for Treasury bonds of 1944—46 in coupon form
to be delivered to _____ _____________ tt#
|
GENERAL PROVISIONS
As fiscal agents of the United States, Federal reserve banks are authorized and
requested to receive subscritpions, to make allotments on the basis and up to the
amounts indicated by the Secretary of the Treasury to the Federal reserve banks of the
respective districts, to issue allotments notices, to receive payment for bonds
allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may
L
'f
issue interim receipts pending delivery of the definitive.bontis.
The Secretary of the Treasury may at any time, or from time to time, prescribe
i hi
supplemental or amendatory rules and regulations governing the offering which will be
»
communicated promptly to the Federal reserve banks.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
September 10, 1934.
MEMORANDUM FOR THE PRESS.
M
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1935)
f
Week ended September 7, 1934:
I m
Philadelphia...........................
148,958.19 fine ounces
San Francisco.........
115,077.08
Denver. .......
2.272.00
Total for week ended Sept. 7.......... 264,507.27
**
”
Total receipts of silver through September 7, 1934......... ..... . 11,976,000 fine
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1954)
Week ended September 7, 1934:
Philadelphia..••••••......
45,143
fineounces
New York.............................. 3,452,392
■
San Francisco..........................
640,565
5,986
Denver...................... •»•.......
m
New Orleans...........................
71 _ "
Total for week ended Sept. 7.......... 4,144,157
**
Total receipts of silver through September 7, 1934............... 75,998,998 fine ounce
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended September 7, 1934:
Philadelphia............
New York....... .........
San Francisco.......... .
Denver........... .
New Orleans
Seattle............. .
Total for week.... .
Imports
15,544.46
764,400.00
293,736.07
6,869.00
79.68
$1,080,429.21
Secondary
257,723.04
1,268,000.00
123,059.15
54,766.00
26,862.74
26*859.98
,757,270.91
New Domestic
•
NOTE:
$
250,994.00
250,994.00
•
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the reek.............. .
$18,652,000.00
# •
141.950.05
$1,557,497.95
9,900.00
1.702.900.00
$ 1,712,800.00
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
•
708,515.92
707,032.00
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER *S OFFICE:
Under Secretary*s Order of December 28, 1933)
Gold Certificates
Received by Federal Reserve Banks:
Gold Coin
$
847,480.00
5
74,519.08
Week ended Sept. 5........ .
68.158.740.00
28.916.972.57
Received previously
69.006.220.00
$28,991,491.65
Total to Sept.5.
Received by Treasurer*s Office:
Week ended Sept. 5............
Received previously.
Total to Sept. 5.
•
TREASURY DEPARTMENT
C#
Jr
Washington
September 10, 1934,
MEMORANDUM FOR THE PRESS:
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
f
am
Week ended September 7, 1934:
Philadelphia.,,.........148,958.19 fine ounces
San Francisco...••••••••••........ 113,077.08
«
Denver............... ...... .
2,272.00
"
Total for week ended Sept. 7.... 264,307.27
"
Total receipts of silver through Sept.7, 1934 .........
»
H
”
11,976,000 fine ounces
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
14
Week ended September 7, 1934:
Philadelphia.....................
45,143 fine ounces
3,452,392
n
u
New York..... ...............
San Francisco.......,,....,,,....
640,565
Denver...............
5,986
New O
r
l
e
a
n
s
.
71
Total for week ended Sept.7... 4,144,157
Total receipts of silver through Sept.7, 1934.....,••••• 75,998,998 fine ounces
mce“
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
¿Â
I
1
Week ended September 7, 1934:
Imports
Philadelphia..,....,,.,,.,,..,^ 15,344.46
New York«.,....,..,,,..,,..... 764,400.00
San Francisco................. 293,736.07
Denver. ,••••.....
6,869.00
New Orleans..............
79.68
Seattle...........
...
Secondary
$ 257,723.04
1,268,000.00
123,059.15
54,766.00
26,862.74
26,859.98
Total for week........... $1,080,429,21
$1,757,270.91
. . »
$
708,515,92
707,032,00
141,950*03
$1,557,497.95
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER*S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin____ Gold Certificates
Week ended Sept. 5 ..............
74,519.08
$
847,480.00
$
Received previously..............
28 ,916,972.57
68,158,740.00
Total to Sept, 5..............
$69,006,220.00
$28,991,491,65
Received by Treasurers Office:
Week ended S ept 5 * . . . . . . . . .
Received previously,.............
Total to Sept, 5,........... .
$
$
« » 1
250,994.00
250,994.00
$
9,900.00
1,702,900.00
$ 1,712,800.00
;*
NOTE:
fé
New Domestic
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the week,
$18,652,000.00
TREASURY DEPARTMENT
Washington
Press Service
No. 2 - 8 7
EGR IMMEDIATE RELEASE,
September 10, 1934,
rests
=— ^
ACTIVITIES OP INVESTIGATORS,
18
.r
ALCOHOL TAX UNIT, FOR WEEK ENDING SEPTEMBER 1, 1934.
I
(Corrected statement based on complete weekly reports
of investigators)
1
Dist,
No.
1
States
Stills
Seized
Capacity
Conn.
Maine
Mass.
N. H.'
R. I»
Vt.
6
1
o#
<
1,750
1,552
2,500
Cals. of
Spirits
Seized
Cals, of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
«
1
24
8
b
TOTAL
2
N. Y.
►
3
Penn.
4*
4
Del. )
N. J. S
X
10
50
Not reported
5,852
289
54
332
2
£¡1
10,000
698
29,150
370
2,417
18,950
2
1
200
3
$ 1,555
4,666
4,225
82
25
12
3
7
1
1
$10,553
24
Not report ed
5
350
$
801
8
Not reported
TOTAL
8
5
D. C. '
l
Not reported
Md.
N.Car.
11
1,400
va.
'
*
Not reported
ff. Va. ^
77
12,630
1
$
46
8
TOTAL
11
1,400
77
12, 630
1
$
46
8
Ala.
Fla.
Ga.
S. Car.
19
22
28
14
9,900
3,465
3,355
1,370
293
770
442
139
7,890
19,160
31,710
9,950
3
4
4
2
$ 1,973
5,710
5, 807
875
19
15
34
30
TOTAL
83
18,090
1,644
68,710
13
$14,365
98
Ky.
Tenn.
13
11
555
1,270
81
991
4,075
5,736
1
3
$ 1,350
1,513
29
23
TOTAL
24
1,825
1,072
9.811
4
$ 2.863
52
iti m
15
6
»«
34
30*
j d 1
I
Ik
11
7
Di st*
No.
8
9
10
11
12
13
Grals. of\Grals. of
Spirits Mash
Seized Seized
Autos &
Trucks
Seized
value of
Property
Seized
Arrests
4,835
52,700
1
3
$ 1,669
3,307
9
16
911
57,535
4
$ 4,976
25
14
2,446
2
125
Hot reported
643
44
45,175
1,520
1
1
$ 3,265
227
15
3
TOTAL
16
2,571
687
46,695
2
$ 3,492
18
La.
Miss.
Texas
6
14
15
475
1,725
727
6,239
149
453
1,000
4,840
5,105
11
2
8
$65, 701
1,731
2,315
46
30
57
TOTAL
35
2,927
6,841
10,945
21
$69,747
133
Ark.
Kans.
Mo.
OkLa.
3
2
9
7
530
120
1,125
610
93
227
151
163
600
1,350
32,275
3,290
2
3
1
350
469
2, 870
896
9
13
18
23
TOTAL
21
2,385
634
37, 515
6
$ 4,585
63
Iowa
Minn.
Het>.
IT.Dak.
S.Dak.
1
6
2
1
1
20
1,383
150
125
15
53
169
55
304
9
65
4,912
2,400
800
100
1
2
$
535
965
75
75
25
18
15
6
2
2
TOTAL
11
1,693
590
8,212
3
$ 1,675
43
Ariz.
Colo.
N. Mex.
Utah >
Wyo. J
Hot reported
1
30
1
600
57
76
150
4,700
2
1
325
450
5
3
Stills
Seized
Capacity
Mich.
Ohio
5
11
1,285
2,556
320
591
TOTAL
16
3,335
111.
Ind.
Wise.
States
$
Not reported
TOTAL
2
630
133
4, 850
3
775
8
Calif.
Hawaii
Nev.
2
800
4
95
Hot reported
898
70
90,250
446
2
$11,425
6
7
TOTAL
6
895
968
90,696
2
$11,425
13
Idaho
Mont,
Ore.
Wash,
1
1
4
2
5
40
417
130
8
112
124
149
20
103
1,305
518
TOTAL
8
592
393
GRAND TOTAL
248
43,045
14
15
•
2
3
30
112
1,043
1,947
n
O
9
9
5
1,946
5
$ 3,132
29
15,018.381,112
67
$128.435
522
$
Tke first of tli© joint meetings ©f bank examiners from
wj)'
the office ©f the Comptroller ©f the Currency, the Federal
I
Reserve Board and banks, the Reconstruction Finance Corporation
and the Federal deposit Insurance Corporation was held today
(August 1 0 W
The examiners were welcomed "by the Secretary of the
Treasury, ®enry Morgenthau, Jr«, who, in a brief address,
explained the purpose of the meeting, to he agreement upon a
common purpose and the a<^Levement ©f a better mutual understanding
of methods of examination*
The other speakers at the meeting were
the Comptroller
of the Currency, J« F* T* O fConnor, who also presided as
chairman of the$imeetingf
the Chairman of the Reconstruction
Finance Corporation, Jesse H* Jones, and the President of the
^ e r i e a n Bankers Association, Francis M* Law, of
iurb
At the request of
Houston, ^exas*
the Secretary of the Treasury, the
address made b y Mr* Law is "being made pablic*
The examiners in attendance participated in a general discussi
of the question as to why banks are not lending on a larger scale
and whether hank examinations are a significant factor in this
km
respect*
I
in
I
1%
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS g
September 10, 1934*
The first of the joint meetings of bank: examiners from the
office of the Comptroller of the Currency, the Federal Reserve Board
and banks, the Reconstruction Finance Corporation and the Federal De«
posit Insurance Corporation was held today (August 10).
The examiners were welcomed by the Secretary of the Treasury,
Henry Morgenthau, Jr., who, in a brief address, explained the purpose
of the meeting to be agreement upon a common purpose and the achieve
ment of a better mutual understanding of methods of examination.
* The other speakers at the meeting were the Comptroller of the
Currency, J, F. T. O ’Connor, who also presided as chairman of the
meeting, the Chairman of the Reconstruction Finance Corporation,
Jesse H. Jones, and the President of the American Bankers Associa—
tion, Francis M. Law, of Houston, Texas.
At the request of the
Secretary of the Treasury, the address made by Mr. Law is being
made public.
The examiners in attendance participated in a general discus
sion of the question as to why banks are not lending on a larger
scale and whether bank examinations are a significant factor in this
respect.
i
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Tuetdiy, September 11, 1934.
Press Servies
O u o
%
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated September 12, 1934, and
maturing March 13, 1935, Mhieh were offered on September 7,
were opened at the Federal reserve banks on September 10,
1934.
m
The total amount applied for was $244,980,000, of
which $75,365,000 was accepted* The accepted bids
ranged in price from 99.925, equivalent to a rate of about
0.15 percent per annua, to 99.874, equivalent to a rate of
about 0.25 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99.886 and the average rate is about 0.23
percent per annum on a bank discount basis.
pi
ye
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,
Tuesday, September 11, 1934.
,
Press Service
No. 2 - 8 9
Secretary of the Treasury Morgenthau announced last evening that
the tenders for $75,000,000, or thereabouts, of 182-day Treasury bills,
dated September 12, 1934, and maturing March 13, 1935, which were
offered on September 7, were opened at the Federal reserve banks on
September 10, 1934.
The total amount applied for was $244,980,000, of which $75,365,000
was accepted.
The accepted bids ranged in price from 99.925, equivar
iant to a rate of about 0.15 percent per annum, to 99.874, equivalent
to a rate of about 0.25 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was accepted.
The
average price of Treasury bills to be issued is 99.886 and the average
rate is about 0,23 percent per annum on a bank discount basis.
DISTILLED LiaUORS AND IttNES
IMPORTATIQES, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
December, 1933 • August 1934, Iasi,
Totals
Dee* I933 to
June* 1934
July
X934
Totals
Dee* I933 to
August
1M4
— Aug* 1934.
'• /
f
£r
r
DISTILLED LIGUORS (Proof Oallons)i
Stock in Cu s t o m Bonded Taro»
houses at beginning of nonth
28,044
Total Inports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Steak in Cu s t o m Bonded Ware»
houses at end of m a t h
STILL TINES (Liqued Gallons):
Steak in C u s t o m Bonded Tare»
houses at beginning of month
Total Imports (Tree and Dutiable)
Available for Consumption
Entered into Consumption (a)
Steak in Customs Bonded Tare*
houses at end of month
4,524,648
28,044
8,3X9,452
4,529,297
339,083
4,868,380
301,806
4,826,454
3o7?0,l55
343,732
381,373
8,932,297
8,9*0,341
4,515,2*0
4*529*237
4,524,648
4,445,081
4,445,081
230,001
1,838,134
1 ,968,821
230,001
4,3X4,757
4,544,75»
2,706,624
27X,477
2,103,611
140,790
13!,591
2,100,432
117,020
4,717,825
4,947,826
2,9*4,434
x,838,134
1 ,968,821
1*583,392
1,983,392
8,291,408
%
[
|
SPARKLING TINE (Liquod Gallons)*
Steak in C u s t o m Bended Tare»
houses at beginning of month
Total Imports (free and Dutiable)
Available for Consumption
Entered lute Consumption (a)
Stock in C u s t o m Bended Tare»
houses at end of month
DUTIES COLLECTED ON Distilled Liquors
1
\
Still Tines
Sparkling Tines
6
Total
1r
49,550
338,423
19,168
3*3,995
1 1 ,19 *
<73.445
357,59X
355,191
335*022
13,59*
11,627
49,550
654,259
703,809
360,245
338,423
343*955
3*3*5*4
3* 3 ,5*4
18,644,429
3,379,848
1*999.426
$
24,023,703
*
1 ,688,529 $
175,382
79.506
X,943,417 %
a
d v T
«
1 ,882,381
|
146,031
*9,000
2*097,412
1
22,215,339
3 ,701,261
2.147.992
i
|
28,064,532
..
J
*
(«) Including withdrawal* for ship supplies and diplomatic use*
m
PREPARED
DIVISION
OF
STATISTICS
BUREAU
OF
BY
AND
RES
CUSTOMS
TREASURY DEPARTMENT
Imports of both still and sparkling wines during August
were the lowest for any month since Repeal, only 131,591
gallons of still wines and 11,196 gallons of sparkling wines
being received from abroad during the past month.
An even
smaller amount of winds entered consumption, 117,020 gallons
of still wines and 11,627 gallons of sparkling wines being re
leased from Customs custody for consumption, these totals
likewise being the smallest for any month »since Repeal.
Total duties collected on imports of distilled liquors
and wines aggregated $2,097,412 during the past month, as com
pared with #1,943,417 during July.
Duties collected on liq
uors and wines during August represented 9.1 per cent of the
total duties collected (#22,952,077), while duties collected
on liquors and wines during July aggregated 10 per cent of the
total duties collected (#19,331,331).
The following table presents a detailed statement of im
ports of distilled liquors and wines and duties collected
thereon:
Imports of distilled liquors which arrived in the United
States during August were the smallest for any month since the
repeal of the Eighteenth Amendment, it was announced by the
Bureau of Customs.today.
Only 301,806 proof gallons of distilled liquors were re
ceived in this country during the past month, a decline of 11
per cent from the imports during the preceding month.
August
Imports of distilled liquors were only 17#4 per e6nt of the
amount received during the month of February (1,738,871 proof
gallons^ in which month the largest imports of distilled liq
uors took place since Repeal.
For the second successive month, a greater amount of im
ported distilled liquors entered into consumption than was
actually received.
During August 381,373 proof gallons of im*
ported liquor paid duty and passed into the hands of the ul
timate users, an increase of 62,359 gallons, or 11.2 per cent,
over the amount released for consumption during the previous
month.
At the end of August there remained in Customs bonded ware
houses 4,445,081 proof gallons of distilled liquors, this amount
being almost one half of the total imports of distilled liquors
during the nine months since Repeal, (8,932,297 proof gallons).
1
TREASURY DEPARTMENT
°sïk'0
*^
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Wednesday», September 13, 1934«
9-11-34
Press Service
No. 2 - 90
Imports of distilled liquors which arrived in the United States during
August were the smallest for any month since the repeal of the Eighteenth Amend
ment, it was announced hy the Bureau of Customs today.
%
Only 301,806 proof gallons of distilled liquors were received in this
country during the past month, a decline of 11 per cent from the imports during
the preceding month.
August imports of distilled liquors were only 17.4 per
cent of the amount received during the month of Eehruary (1,738,871 proof
gallons), in which month the largest imports of distilled liquors took place
since Repeal,
Bar the second successive month, a greater amount of imported distilled
liquors entered into consumption than was actually received.
During August
381,373 proof gallons of imported liquor paid duty and passed into the hands of
the ultimate users, an increase of 62,359 gallons, or 11,2 per cent, over the
amount released for consumption during the previous month.
At the end of August there remained in Customs bonded warehouses 4,445,081
proof gallons of distilled liquors, this amount being almost one half of the
total imports of distilled liquors during the nine months since Repeal,
(8,932,297 proof gallons).
Imports of both still and sparkling wines during August were the lowest
for any month since Repeal, only 131,591 gallons of still wines and 11,196
gallons of sparkling wines being received from abroad during the past month.
DISTILLED LIQUORS AND WINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
December, 1933 - August 1934, Incl,
m
m
0
Totals
Dec. 1933 to
June, 1934
July
1934
August
1934
Totals
Dec, 1933 to
Aug, 1934.
DISTILLED LIQUOJIS (Proof Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
28,044
8,291,408
8,319,452
3,790,155
4,529,297
339,083
4,868,380
343,732
4,524,648
301,806
4,826,454
381,373
28,044:
8,932,297
8,960,341
4,515,260
4,529,297
4,524,648
4,445,081
4,445,081
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
230,001
4,314,757
4,544,758
2,706,624
1,838,134
271,477
2,109,611
140,790
1,968,821
131,591
2,100,432
117,020
230,001
4,717,825
4,947,826
2,964,434
1,838,134
1,968,821
1,983,392
1,983,392
SPARKLING WINE (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
49,550
623,895
673,445
335,022
338,423
19,168
357,591
13,596
343,995
11,196
355,191
11,627
49,550
654,259
703, 809
360,245
338,423
343,995
343,564
343,564
Distilled Liquors
Still Wines
Sparkling Wines
$ 18,644,429
3,379,848
1,999,426
$ 1,688,529
175,382
79,506
$ 1,882,381 $ 22,215,339
3,701,261
146,031
2,147,932
69,000
Total
$ 24,023,703
$ 1,943,417
$ 2,097,412 $ 28,064,532
DUTIES COLLECTED ON -
(a)
Including withdrawals for ship supplies and diplomatic use
Ig
- 2 -
An even smaller amount of wines entered consumption, 117,020 gallons of still
wines and 11,627 gallons of sparkling wines being released from Customs custody
for consumption;, these totals likewise being the smallest for any month since
Repeal,
Total duties collected on imports of distilled liquors and wines aggregated
$2,097,412 during the past month, as compared with $1,943,417 during July*
Duties collected on liquors and wines during August represented 9,1 per cent
of the total duties collected ($22,952,077), while duties collected on liquors
and wines during July aggregated 10 per cent of the total duties collected
($19,331,331).
The following table presents a detailed statement of imports of distilled
liquors and wines and duties collected thereon:
to
§fl§
California* 48 have been awarded certificates*
Practice *111 be undertaken eooa at the following citiesi
© h l e n g ® , Illinois| Detroit, Michigan; St. Paul, Minnesota;
Peatolna, North Dakota; Milwaukee, Wisconsin; Duluth, Minnesota;
loulSTille, Kentucky; Charleston, South Carolina; Satannah,
Georgia; Jacksonville, Florida; Miami, Florida; St, Petersburg,
Florida; New Orleans, Louisiana; Galveston, Texas; Corp s Christ!,
Texas; Ssattls, Washington; Astoria, Oregon; Sen Pedro, Califor
nia; San Diego, California; Honolulu, T.H.; Denver, Colorado,
.> r
■
.
. : v ■ ■• :V 7 ■
■, ■ •
• \4
7
\ .•
.,
■
fiTe thousand copies of the pamphlet *Instruct ions for
SaaXl Arms Training” have been issued to the various bureaus of
the Treasury concerned*
The training at present Is being ear-
rled on with a *2& cal* pistol on a *48 oal* frame*
The majority of those training so far are members of the
Customs Bureau*
Others in training Include the guards of the
Treasury Building* Internal Revenue Collectors! Bureau of m *
growing and Printing guards» members of the Secret Service and
the Hareetles Bureau* Alcohol Tat investigators and Mint guards*
Several of the units In training report enthusiasm on the
part of the personnel*
Teams for inter-bureau competition are
being formed*
Commander M* J# Ryan* Ordnsnoe Officer* Headquarters* Coast
Ouard* Washington* B# C* is in charge of the instruction*
y'
TREASURY DEPARTMEHT
Washington
FOR IMMEDIATE RELEASE,
Wednesday| September 13* 1934*
Press Service
Ho* 3-91
Hearly 1,000 employee» of the Treasury Department are
now receiving instructions in small arms training* the
Coast Guard announced today* Within the next thirty days
it is anticipated that between three and four thousand men
will be under training.
In the Treasury Building at Washington a pistol gallery
rang# is established in the garage. 181 members of the
personnel of the Treasury* Bureau of Engraving and Printing,
Secret Service and narcotic Bureau are under instruction.
To date 35 men have qualified with the *33 cal* "Ace* pistol
and have been awarded certificates* In Hew York* lew York*
188 members of the Treasury personnel are under instruction
and the Coast Guard is assisting in the training of 600
Customs men* At Boston* Massachusetts* 93 men are under in**
structIon. 161 members of the Treasury personnel will be
trained at Philadelphia within the near future. Of 93 men
training at Baltimore* Maryland* 14 have qualified and have
been issued certificates* 18 men are under instruction at
Morfolk, Virginia and 3 at Wilmington* Worth Carolina. The
national Guard pistol range at Cleveland, Ohio is being used
by 46 men in training. Pistol praotlv© has been begun at
Mobile, Alabama. Of the 83 men in training at Ban Francisco
to introduce them by illieit means into the United States^
On August 15th a seizurejtook place near Ogdensburg, N. Y . ,
which presents more than the usual elements of drama*
Customs
agents stationed in Canada had learned that an attempt to smug*
gle watch movements would be made and obtained accurate descrip
tions of the would-be smugglers and of their automobile*
Upon
the arrival of the ear at the border, the men were searched and
questioned and the vehicle carefully inspected without reveal
ing anything of a suspicious nature.
-V
¡L
The Customs officials, however, were so sure of the accurary
of their information that the men were taken into custody and the
oar removed to a place where a thorough examination eould be con
ducted.
This subsequent search resulted in the discovery of
1,847 Swiss watch movements concealed in secret compartments
located in each of the running boards of the car.
- 8 -
~Vv-o r X
91
The discovery of an unusually ingenious attempt to smuggle
Swiss watch movements into the United States was announced today by the Bureau of Customs.
The smuggling of watch movements has during the last four
years presented one of the most difficult problems with which
Customs officials have had to deal.
The small size of move
ments designed for the modern wrist wqtch renders concealment
comparatively easy, while the relatively large value of the
article coupled with the high rate of duty offers a substantial
profit to the smuggler if his attempts meet with success.
Attempts to smuggle watch movements in the past include
concealment in a specially made belt or garment worn under the
smuggler's clothing, inside the spare tire of an automobile and
within the containers of an apparently legitimate commercial im
portation, such as boxes of stationery or bales of rabbit skins.
The detection and conviction of a number of smugglers of
watch movements operating along the Atlantic seaboard has appar
ently resulted in a lessening of illegitimate importations of
watch movements in this region, and has caused the transfer of
such smuggling operations to the Canadian border.
Smugglers
along the northern border pay the duty at the lower rates spec
ified on watch movements by the Canadian tariff, and then attempt
- 1 -
TREASURY DEPARTMENT
Washington
r e l e a s e , m o r n i n g -n e w s p a p e r s ,
Sunday, September 16, 1934,
Press Service
No. 2 - 9 1
9-12-34
The discovery of an "unusually ingenious attempt to smuggle Swiss watch
movements into the United States was announced today "by the Bureau of Customs.
The smuggling of watch movements has during the last four years presented
one of the most difficult problems with which Customs officials have had to deal.
The small size of movements designed for the modern wrist watch renders conceal
ment comparatively easy, while the relatively large value of the article coupled
with the high rate of duty offers a substantial profit to the smuggler if his
attempts meet with success.
Attempts to smuggle watch movements in the past include concealment in a
specially made belt or garment worn under the smugglers clothing, inside the
spare tire of an automobile and within the containers of an apparently legitimate
commercial importation, such as boxes of stationery or bales of rabbit skins.
The detection and conviction of a number of smugglers-..of watch movements
operating along the Atlantic seaboard has apparently resulted in a lessening of
illegitimate importations of watch movements in this region, and has caused the
transfer of such smuggling operations to the Canadian border.
Smugglers along
the northern border pay the duty at the lower rates specified on watch movements
by the Canadian tariff, and then attempt to introduce them by illicit means into
the United States.
On August 15th a seizure with appraised value of $15,000, took place near
Ogdensburg, N. Y,, which presents more than the usual elements of drama,
Customs
agents stationed in Canada had learned that an attempt to smuggle watch movements
would be made and obtained accurate descriptions of the would-be smugglers and
of their automobile.
Upon the arrival of the car at the border, the men were
searched and questioned and the vehicle carefully inspected without revealing
anything of a suspicious nature.
The Customs officials, however, were so sure of the accuracy of their in
formation that the men were taken into custody and the car removed to a place
where a thorough examination could he conducted.
This subsequent search re
sulted in the discovery of 1,247 Swiss watch movements concealed in secret
compartments located in each of the running hoards of the car.
TREASURY DEPARTMENT
WASHINGTOH
FOR RELEASE, 1081216 PAPERS,
Thursday, September 13, 1634«
Press S e rrici
Secretary of the Treasury Morgenthau announced last
ulght (September 12, 1834) that the aubseriptloB books for
tee current offering of 1-1/2 percent two-year Treasury notes
of Series D-1888 will oloss at the close of business today,
Thursday, September 18, 1834. Subscriptions placed in the
nusil before 12 o'clock midnight tonight will be considered as
haring been entered before the close of the subscription books
The subscription books will remain ©pan until furthar
“T 1
**
¿T'
notiea for the receipt of subscription© for 2-1/2 percent
Treasury notes of Series B-1838 end 3-1/4 pereent Treesury
bonds of 1844-46, offered only in exchange for Fourth Liberty
Loan bonds sailed for redemption on October 15.
Announcement of the ©mount of subscriptions and their
dirision among the sereral Federal reserre districts will be
made later.
TREASURY DEPARTMENT
Washington
L
i
FOR RELEASE, MORNING- PAPERS,
Thursday, September 13, 1934*
9-12-34
§
Press Service
No. 2 - 9 2
Secretary of the Treasury Morgenthau announced last night
|
(September 12, 1934) that the subscription books for the current
offering of 1-1¡2 per cent two-year Treasury notes of Series
D-1936 will close at the close of business today, Thursday,
I
|
September 13, 1934,
||§#
Subscriptions placed in the mail before
12:00 o*clock midnight tonight will be considered as having been
I
entered before the close of the subscription books.
The subscription books will remain open until further notice
|
for the receipt of subscriptions for 2-l/2 per cent Treasury notes
of Series D-1938 and 3-l/4 per cent Treasury bonds of 1944-46,
¥
L
P
offered only in exchange for Fourth Liberty Loan bonds called for
redemption on October 15,
Announcement of the amount of subscriptions and their division
among the several Federal reserve districts will be made later,
I
\
f
i
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, September 13, 1934«
Press Service
Uo. 2 - 9 3
Instructions have been sent out to Collectors of Internal Revenue and to
District Supervisors of the Alcohol Tax
Unit regarding procedure in the col
lection of the special excise tax of $1,000 imposed "by the Revenue Act of 1926
on all persons who manufacture or sell intoxicating liquors in violation of
any state or local laws or regulations, the Treasury Department announced today.
Persons engaged in the manufacture or sale of alcoholic beverages are re
quired by Section 3244 of the revised statutes to pay a Federal occupational
tax whether their business has the sanction of local law or not.
If they are
operating in violation of any state or local law or ordinance they are required
to pay the $1,000 special excise tax in addition.
Internal Revenue collectors have been notified to furnish District Super
visors with lists of those operating contrary to local laws who have paid the
Federal occupational tax.
Where payment of the Federal occupational tax has
been made in such cases, it will be considered as evidence that the purchaser
is subject to the special excise tax of $1,000,
District Supervisors will
also make recommendations for assessments against retail dealers, who are liable
for the tax in cases discovered by them, as woll as cases reported to them by
collectors of Internal Revenue,
Collectors of Internal Revenue and District Supervisors will give immediate
publicity in their respective districts to the intention of the government to
collect the $1,000 special excise tax, which is required under Section 701 of
the Revenue Act of 1926,
This section holds that the special excise tax of
$1,000 shall be inposed Hin the case of every person carrying on the business
of a brewer, distiller, wholesale liquor dealer, retail liquor dealer, wholesale
dealer in malt liquor, retail dealer in malt liquor'» or manufacturer of stills
as defined in Section 3244 as amended in Section 3247 of the revised statutes in
any State, Territory or District of the United States contrary to the laws of
such State, Territory or District or any place therein in which carrying on
such "business is prohibited by local or municipal law”«
The same section also provides that any person carrying on a business for
which a special tax is imposed without payment of such tax shall be liable for
the payment of the tax and also subject to a penalty of not more than $1,000
or to imprisonment for not more than one year, or both.
Payment of the special excise tax of $1,000 is not a license to operate
where local law does not permit, and does not exempt the taxpayer from any
penalty or punishment provided by the law of the State.
Failure to pay the
excise tax constitutes a Federal offense and the fact that the occupation is
illegal under the State law is no defense to a prosecution for failure to pay
the Federal tax.
Occupational taxes under section 3244 R, S. are as follows:
brewers, $100;
still manufacturers, $50, and $20 for each still or worm; rectifiers, $200;
retailers, $25; wholesalers, $100; retail malt dealers, $20; wholesale malt
dealers, $50.
California, 45 have been awarded certificates.
Practice will be undertaken soon at the following cities:
^
Chicago, Illinois; Detroit, Michigan; St. Paul, Minnesota;
Pembina, North Dakota; Milwaukee, Wisconsin; Duluth, Minnesota;
Louisville, Kentucky; Charleston, South Carolina; Savannah,
^
Georgia; Jacksonville, Florida; Miami, Florida; St# Petersburg,
Florida; New Orleans, Louisiana; Galveston, Texas; Corpus Christi, j
Texas; Seattle, Washington; Astoria, Oregon; San Pedro, Califor
nia; San Diego, California; Honolulu, T.H.; Denver, Colorado#
Five thousand copies of the pamphlet wInstruetions for
Snail Arms Training" have been issued to the various bureaus of
the Treasury concerned.
^
The training at present is being car
ried on with a .22 cal. pistol on a .45 cal. frame.
[
The majority of those training so far are members of the
Customs Bureau.
Others in training include the guards of the
i
&
Treasury Building, Internal Bevehue Collectors, Bureau of En
graving and Printing guards, members of the Secret Service and
the Narcotics Bureau, Alcohol Tax investigators and Mint guards.
Several of the units in training report enthusiasm on the
part of the personnel.
Teams for inter-bureau competition are
being formed.
Commander M. J. Ryan, Ordnance Officer, Headquarters, Coast
Guard, Washington, D. C. is in charge of the instruction.
P
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, September 13, 1934.
Press Service
qrvice
No. 2 3
^
Nearly 1,000 employees of the Treasury Department are
ft
r
now receiving instructions in small arms training, the
Coast Guard announced today.
9
Within the next thirty days
it is anticipated that between three and four thousand men
will be under training.
In the Treasury Building at Washington a pistol gallery
range is established in the garage.
181 members of the
personnel of the Treasury, Bureau of Engraving and Printing,
S
Secret Service and Narcotic Bureau are under instruction.
C*\,
\
To date 25 men have qualified with the «22 cal. "Ace11 pistol
and have been awarded certificates.
In New York, New York,
168 members of the Treasury personnel are under instruction
and the Coast Guard is assisting in the training of 600
Customs men.
struction.
At Boston, Massachusetts, 92 men are under in
161 members of the Treasury personnel will be
trained at Philadelphia within the near future.
Of 92 men
training at Baltimore, Maryland, 14 have qualified and have
been issued certificates.
18 men are under instzuction at
Norfolk, Virginia and 2 at Wilmington, North Carolina.
The
National Guard pistol range at Cleveland, Ohio is being used
by 46 men in training.
Mobile, Alabama.
Pistol practice has been begun at
Of the 83 men in training at San Francisco,
19
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Pre^s Service
Thursday, September 13, 1934.
No* S ~ 94
Nearly 1,000 employees of the Treasury Department are now receiving in
structions in small arms training, the Coast Guard announced today.
Within
the next thirty days it is anticipated that "between three and four thousand
men will he under training.
In the Treasury Building at Washington a pistol gallery range is established
in the garage.
One hundred and eighty-one members of the personnel of the
Treasury, Bureau of Engraving and Printing, Secret Service and Narcotics Bureau
are under instruction.
To date 25 men have qualified with the .22 cal. ’’Ace1
pistol and have been awarded certificates.
In New York, New York, 168 members
of the Treasury personnel are under instruction and the Coast Guard is assisting
in the training of 600 Customs men.
instruction.
At Boston, Massachusetts, 92 men are under
One hundred and sixty—one members of the Treasury personnel will
be trained at Philadelphia within the near future.
Of 92 men training at
Baltimore, Maryland, 14 have qualified and have been issued certificates.
Eighteen men are under instruction at Norfolk, Virginia and 2 at Wilmington,
North Carolina.
The National Guard pistol range at Cleveland, Ohio is being
used by 46 men in training.
Pistol practice has been begun at Mobile, Alabama*
Of the 83 men in training at San Francisco, California, 45 have been awarded
certificates.
Practice will be undertaken soon at the following citiesj
Chicago,
Illinois; Detroit, Michigan; St. Paul, Minnesota; Pembina, North Dakota;
Milwaukee, Wisconsin; Duluth, Minnesota; Louisville, Kentucky; Charleston, South
Carolina; Savannah, Georgia; Jacksonville, Florida; Miami, Florida;
St. Petersburg, Florida; New Orleans, Louisiana; Galveston, Texas; Corpus Christ!
Texas; Seattle, Washington; Astoria, Oregon; San Pedro, California; San Diego,
California; Honolulu, T.H.; Denver, Colorado,
Five thousand copies of the pamphlet ”Instructions for Small Arms Training1’
have "been issued to the various "bureaus of the Treasury concerned.
The train
ing at present is "being carried on with a ,22 cal, pistol on a *,45 cal, frame.
The majority of those training so far are members of the Customs Bureau,
Others in training include the guards of the Treasury Building, Internal Revenue
Collectors, Bureau of Engraving and Printing guards, members of the
Secret Service and the Narcotics Bureau, Alcohol Tax investigators and Mint
guards.
Several of the units in training report enthusiasm on the part of the
personnel.
Teams for inter-bureau competition are being formed.
Commander M. J. Ryan, Ordnance Officer, Headquarters, Coast Guard, Wash
ington, D. C, is in charge of the instruction.
2
The regulations are intended to be drastic enough to enable the
Government to make an effective check of the unlawful use of these raw
materials in the illicit liquor traffic» hut» at the same time» are so
drafted that they shall not interfere with legitimate business dealing
extensively in these commodities«
While it is made mandatory that all persons, firms or corporations
involved shall keep records showing all items of essential information
relating to their sales and shipments, and!that they be prepared to submit
sworn reports to the Commissionex^Qwhenever required by him to do so, an
important exemption is made with respect to dealings in the commodities in
relatively small quantities» commonly entering legitimate commerce.
The provision of the regulations covering the class of small
business dealings sets forth that unless the manufacturer or distributor
has been specifically instructed to do so by the Commissioner of Internal
Revenue or the District Supervisor of the Alcohol Tax Unit, he need not
keep records, invoices, bills of lading and other information, idien the
sale does not exceed the followings
300 pounds of cane, corn or beet sugetr;
200 gallons of blackstrap molasses; or 5 pounds of yeast, when packaged or
cartoned in quarter pound, half pound, pound, or larger packages,’
The regulations require that when the Commissioner or Supervisor
calls for reports, these must be submitted in due form and under oath, within
10 days, or earlier if requested.
The law provides that violation
of any
provision of the law or the regulations shall be punishable by a fine of not
more than $500» or imprisonment for not more than one year, or both.
-o -
<4,
2 - f £T
Regulations to carry out the provisions of a Joint Resolution of
Congress, approved June 18, 1334, to protect the revenue hy requiring
information concerning the disposition of substances used in manufacturing
distilled spirits, have been prescribed by the Commissioner 'of Internal
Revenue, with the approval of the Secretary of the Treasury,
Producers and distributors of raw materials, when required by the
Commissioner, must furnish records and reports, under oath, disclosing
full details relating to disposition of their products«
Records in their
places of business must be constantly open to inspection by Government
officers*
The Alcohol Tax Unit, of the Internal Revenue Bureau, whose functions
are to enforce the tax laws relating to liquors, is charged with the duty
of administering the new regulations, which become effective September //
1934,
Raw materials which will be traced through their varied channels of
distribution, Include:
Blackstrap molasses, c o m sugar, cane sugar,
beet sugar, yeast and oak chips.
The law and regulations are designed to strengthen the enforcement
efforts of the Government toward closing the sources of supply to illicit
liquor manufacturers who have obtained such raw materials heretofore in
large quantities, and without restriction in the open market.
*
V
TREASURY DEPARTMENT
Washington
RELEASE, MORNING PAPERS,
Friday, September 14, 1934
9-13-34
Press Service
No. 2 - 9 5
Regulations to carry out the provisions of a Joint Resolution of
Congress, approved June 18, 1934, to protect the revenue by requiring
information concerning the disposition of substances used in manufacturing
distilled spirits, have been prescribed by the Commissioner of Internal
Revenue, with the approval of the Secretary of the Treasury.
Producers and distributors of raw materials, when required by the
Commissioner, must furnish records and reports, under oath, disclosing
full details relating to disposition of their products.
Records in their
places of business must be constantly open to inspection by Government
officers.
The Alcohol Tax Unit, of the Internal Revenue Bureau, whose functions
are to enforce the tax laws relating to liquors, is charged with the duty
of administering the new regulations, which became effective September 11,
1934.
Raw materials which will be traced through their varied channels of
distribution, include:
Blackstrap molasses, corn sugar, cane sugar, beet
sugar, yeast and oak chips.
The law and regulations are designed to strengthen the enforcement
efforts of the Government toward closing the sources of supply to illicit
liquor manufacturers who have obtained such raw materials heretofore in
large quantities, and without restriction in the open market.
The regulations are intended to be drastic enough to enable the
Government to make an effective check of the unlawful use of these raw
-
2
-
materials in the illicit liquor traffic, but, at the same time, are so
drafted that they shall not interfere with legitimate business dealing
extensively in these commodities.
While it is made mandatory that all persons, firms or corporations
involved shall keep records showing all items of essential information
relating to their sales and shipments, and that they be prepared to submit
sworn reports to the Commissioner whenever required by him to do so, an
important exemption is made with respect to dealings in the commodities in
relatively small quantities, commonly entering legitimate commerce.
The provision of the regulations covering the class oi small busi
ness dealings sets forth that unless the manufacturer or distributor has
been specifically instructed to do so by the Commissioner of Internal
Revenue or the District Supervisor of the Alcohol Tax Unit,
he need not
keep records, invoices, bills of lading and other information, when the
sale docs not exceed the following:
300 pounds of cane, corn or beet sugar;
200 gallons of blackstrap molasses; or 5 pounds of yeast, when packaged or
cartoned in quarter pound, half pound, pound, or larger packages.
The regulations require that when the Commissioner or Supervisor calls
for reports, these must be submitted in due form and under oath, within 10
days, or earlier if requested.
The law provides that violation of any pro
vision of the law or the regulations shall be punishable by a fine of not
more than $500, or imprisonment for not more than one year, or both.
Total Customs receipts from the 1st to 10th of September,
as recorded on the Daily Treasury Statement aggregated
$18,420,921.
This amount compares with $22,952,077 for the
entire month of August
important ports exhibited a similar trend.
These collections
covered duties on direct imports and warehouse withdrawals of
commodities on which the rates of duty were increased under
the Smoot-Hawley Act.
The large collections, therefore, im
mediately preceded the effective date of the new rates.
In the present instance the reduction in rates of duty on
Cuban sugar, tobacco, etc., made desirable the postponement of
warehouse withdrawals until after Labor Day, when the new rates
went into effect.
The ratef of duty on Cuban sugar testing 96
degrees by the polariscope which was reduced by executive order,
effective June 8th, from 2# to 1.5445# per pound was further
reduced under the recent reciprocity treaty to 9/10 of a cent
per pound, a reduction of SS.r per cent from the rate|( under the
Smoot-Hawley Act.
Importers, therefore, permitted their stocks
to run low, and as soon as the new rates went into effect made
large withdrawals to replenish these depleted stocks.
The Daily Treasury Statement for September 10th shows
Customs receipts for that day amounting to #4,984,792, the
largest amount recorded since the passage of the Smoot-Hawley
Tariff Act.
Most of these receipts include collections made
on September 7th and 8th, deposits slips not being received by
the Treasury until September 10th.
The reciprocity treaty with Cuba» which became effective
on Labor Day, resulted in considerably augmented Customs re
ceipts during the week immediately following, it was announced
by the Bureau of Customs today.
During the seven days from Sept amber 4th to 11th, inclu
sive, the amounts received in the form of Customs duties at
New York City amounted to over $6,122,386, of which $2,664,016,
or 43*5 per cent, represented duties on Cuban sugar withheld
from importation or not withdrawn from warehouses until after
the reduction of duties provided for by the new treaty.
The port of Boston collected $1,170,405 in duties from
September 4th to 12th, inclusive, of which $838,788, or 71*7
per cent, covered duties on Cuban sugar.
The collections at
to
Philadelphia for the same period aggregated $2,232,997, of
which duties on sugar represented $1,904,187, or 83*3 per cent.
Duties on Cuban sugar accounted for three fourths of the col
lections at Baltimore during the week ended September 10th
($766,344).
Any change in rates of duty, either up or down, results in
abnormally large Customs collections.
During the four days,
June 13th to 17th, 1930, immediately preceding the effective
date of the present Tariff Act, duties collected at the port of
New York aggregated $21,619,129, while collections at other
—
1 —
ft
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, September 14, 1934,-
Press Service
Uo, 2 - 9 6
The reciprocity treaty with Cuba, which became effective on Labor Day,
resulted in considerably augmented Customs receipts during the week immediately
following, it was announced by the Bureau of Customs today.During the seven days from September 4th to 11th, inclusive,- the amounts
received in the form of Customs duties at New York City amounted to over
$6,122,386, of which $2,664,016, or 43.5 per cent, represented duties on Cuban
sugar withheld from importation or not withdrawn from warehouses until after
the reduction of duties provided for by the new treaty*
The port of Boston collected $1,170,405 in duties from September 4th to
12th, inclusive, of which $838,788, or 71.-7 per cent,, Covered duties on Cuban
sugar.-
The collections at Philadelphia for the same period aggregated
$2,232,997, of which duties on sugar represented $1,904,187, or 85.3 per cent*
Duties on Cuban sugar accounted for three fourths of the collections at Balti
more during the week ended September 10th ($766,344).
Any change in rates of duty, either up or down, results in abnormally
large Customs collections.
During the four days, June 13th to 17th, 1930,
immediately preceding the effective date of the present Tariff Act, duties
collected at the port of New York aggregated $21,619,129, while collections
at other important ports exhibited a similar trend.-
These collections
covered duties on direct imports and warehouse withdrawals of commodities on
which the rates of. duty were increased under the Smoot—Hawley Act,
The large
collections^ therefore, immediately preceded the effective date of the new rates.
In the present instance the reduction in rates of duty on Cuban sugar,
tobacco, etc,, made desirable the postponement of warehouse withdrawals until
after Labor Day, when the new rates went into effect.
The rate of duty on
Cuban sugar testing 96 degrees by the polariscope which was reduced by execu
tive order, effective June 8th, from 2^ to 1,5445^ per pound was further re
duced under the recent reciprocity treaty to 9/10 of a cent per pound, a re
duction of 55 per cent from the rate under the Smoot-Hawley Act,
Importers,
therefore, permitted their stocks to run low, and as soon as the new rates
went into effect made large withdrawals to replenish these depleted stocks.
The Daily Treasury Statement for September 10th shows Customs receipts
for that day amounting to $4,984,792, the largest amount recorded since the
passage of the Smoot-Hawley Tariff Act,
Most of these receipts include
collections made on September 7th and 8th, deposit
slips not being received
by the Treasury until September 10th,
Total Customs receipts from the 1st to 10th of September, as recorded
on the Daily Treasury Statement aggregated $12,420,921,
with $22,952,077 for the entire month of August,
This amount compares
i ~ H tiE S
-1
I
,1■T .
wjr >v
/ sa _ A - e ^ > ^
ff
PD X ^ > Av^Jl
(‘f h **.
,-a - i l
o
K
'
A recent Treasury decision providing for the affixing
of strip stamps to bottles of imported distilled spirits, has been
modified by a decision approved by the Secretary of the Treasury
allowing importers the alternative of over-printing the strip
stamps with a description of the goods tonbe withdrawn from customs*
This method religves importers of the necessity of affixing
the stamps to the bottles while in customs custody*
Under this
arrangement, the over-printed strip stamps will be inspected by customs
officers before the release of the spirits, and then sent by registered
maij^to the importers consignees among retail or wholesale liquor dealers*
This modification of the earlier decisbfc, drafted jointly by
g*, Commissionê^Æeîvering and 4 u Î é M
n
CommissioniÿÇKoylej offers
adequate protection to the Government against the diversion of strip
stamps, and at the same time somewhat lessens the burden of expense and
labor entailed upon liquor importers*
«*
m
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Friday, September 14, 1934.
Press Service
Ho. 2 - 9 7
A recent Treasury decision providing for the affixing of strip
stamps to bottles of imported distilled spirits, has been modified "by
a decision approved "by the Secretary of the Treasury allowing importers
the alternative of over-printing the strip stamps with a description of
the goods to "be withdrawn from customs.
This method relieves importers of the necessity of affixing the
stamps to the "bottles while in customs custody.
Under this arrange
ment, the over-printed strip stamps will "be inspected "by customs of
ficers "before the release ^of the spirits, and then sent "by registered
mail to the importers* consignees among retail or wholesale liquor
dealers.
This modification of the earlier decision, drafted jointly "by
Commissioner of Internal Revenue Guy T. Helvering and Commissioner of
Customs James H, Moyle, offers adequate protection to the Government
against the diversion of strip stamps, and at the same time somewhat
lessens the burden of expense and labor entailed upon liquor importers.
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS.
September 14, 1934*
Reference is made to Press Service No* 2 - 9 1 , released for
morning papers, Sunday, September 16, 1934.
In the first line of the last paragraph on page one reference
is made to a seizure with appraised value of $15,000.
be corrected to read ’’with appraised value of $7,000".
This should
2
"beer stamps
m
When a "beer tax stamp is attached to the container it imist show
m
identity of the beer manufacturer«
legible on that portion of the
stamp
after the spigot is driven through.
The perforations must he intact and
remaining on the barrel» or other container 0
The rules provide that the stamp shall
be centrally affixed upon the spigot hole in the h e a d of the container» and
through
that the spigot of the air faucet must in all cases be driver/ the stamp in
such manner as effectually to destroy the stamp.
The decision further states that the affixing to a package of
two or more stamps having an aggregate face value of the amount of tax due
thereon is not a sufficient compliance with the provisions of the law«
The
tax on each package must be represented by a single stamp of proper denomination
duly cancelled and affixed upon the spigot hole of the container*
Brewers are charged by law with the procurement, affixing and
|f)p
cancellation of the internal revenue stamps for the taxpayment of their
fermented liquor.
The decision makes clear that beer intended for bottling,
except when removed by pipe line, must be drawn into stamped containers and be
removed in such containers to the bottling establishment*
The law prohibits
the bottling of fermented liquor from open and unstamped vessels«
1
-c-
/&*>****$
& * * * * * & < * .
, Q *f* h m 4 ^ /S ^ /fJ </
'^*7p
im"5
Beer tax regulations were made more drastic today "by Commissioner of
Internal Revenue Guy T« Helvering, in a decision approved "by the Secretary
of the Treasury, prescribing new procedure for the cancelling and affixing-
§
of internal revenue stamps to beer kegs, barrels, hogsheads and similar
receptacles*
The new procedure which supersedes other provisions on this subject
in existing regulations is expected to aid materially in preventing tax
evasions by brewers and retail dispensers of beer«
Rigid rules now laid
down lessen^ the opportunity to remove stamps and reuse them contrary to law*
by requiring a specific method of perforation of stamps and of more securely
affixing them to containers«
The decision sets forth that it is highly important fOrtthe protection
of the revenue that the tax stamps be secured to the kegs or other containers
in such manner that they cannot be removed without intentional effort for that
purpose.
The decision said:
*It is mandatory
that the stamps be ¿pffixed over the spigot holes in
the heads of wooden or metal containers in such manner and by the use of
sod
adhesives that the stamps shall not be removable without destruction under
such normal conditions of usage as will be found to obtain daring the handling
w
of the containers«
"Stamps must be affixed by adhesives in such manner as not be become
detached by any change in moisture conditions attending the storage, cooling
dispensing and other handling of- the packages.
If necessary to accomplish thii|
they shall be coated with a water repellent material which must not,however,
affect the legibility of the stamp s*"
i
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, September 15, 1934
9-15-34
Press Service
No* 2 - 9 8
Beer tax regulations were made more drastic today hy Commissioner of
Internal Revenue Guy T. Helvering, in a decision approved hy the Secretary
of the Treasury, prescribing new procedure for the cancelling and affixing
of internal revenue stamps to beer kegs, barrels, hogsheads and similar
receptacles*
The new procedure which supersedes other provisions on this subject
in existing regulations is expected to aid materially in preventing tax
evasions by brewers and retail dispensers of beer.
Rigid rules now laid
down lessen the opportunity to remove stamps and reuse them contrary to
law, by requiring a specific method of perforation of stamps and of more
securely affixing them to containers.
The decision sets forth that it is highly important for the protection
of the revenue that the tax stamps be secured to the kegs or other containers
in such manner that they cannot be removed without intentional effort for
that purpose*
The decision said:
”It is mandatory that the stamps be affixed over the spigot holes in
the heads of wooden or metal containers in such manner and by the use of such
adhesives that the stamps shall not be removable without destruction under
such normal conditions of usage as will be found to obtain during the handling
of the containers,
“Stamps must be affixed by adhesives ip such manner as not be become
detached by any change in moisture condition^ attending the storage, cooling
dispensing and other handling of the packages.
If necessary to accomplish this
they shall be coated with a water repellent material which must not, however,
affbrrt the legibility of the stamps,'*
# /
-
2
-
When a beer tax stamp is attached to the container it must show clearly
the identity of the beer manufacturer.
The perforations must be intact and
legible on that portion of the stamp remaining on the barrel, or other con
tainer after the spigot is driven through*
The rules provide that the stamp
shall be centrally affixed upon the spigot hole in the head of the container,
and that the spigot of the air faucet must in all cases be driven through
the stamp in such manner as effectually to destory the stamp.
The decision further states that the affixing to a package of two or
more stamps having an aggregate face value of the amount of tax due thereon
is not a sufficient compliance with the provisions of the law.
The tax on
each package must be represented by a single stamp of proper denomination
duly cancelled and affixed upon the spigot hole of the container.
Brewers are charged by law with the procurement, affixing and cancellation
of the internal revenue stamps for the taxpayment of their fermented liquor.
The decision makes clear that beer intended for bottling, except when removed
by P^Pe line, must be drawn into stamped containers and be removed in such
containers to the bottling establishment.
The law prohibits the bottling of
fermented liquor from open and unstamped vessels.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, September 15, 1934
9-15-34
Press Service
Uo* 2 - 9 8
Beer tax regulations were made more drastic today "by Commissioner of
Internal Revenue Guy T. Helvering, in a decision approved "by the Secretary
of the Treasury, prescribing new procedure for the cancelling and affixing
of internal revenue stamps to beer kegs, barrels., hogsheads and similar
receptacles*
The new procedure which supersedes other provisions on this subject
in existing regulations is expected to aid materially in preventing tax
evasions by brewers and retail dispensers of beer.
Rigid rules now laid
down lessen the opportunity to remove stamps and reuse them contrary to
law, by requiring a specific method of perforation of stamps and of more
securely affixing them to containers.
The decision sets forth that it is highly important for the protection
of the revenue that the tax stamps be secured to the kegs or other containers
in such manner that they cannot be removed without intentional effort for
that purpose*
The decision said:
’’It is mandatory that the stamps be affixed over the spigot holes in
the heads of wooden or metal containers in such manner and by the use of such
adhesives that the stamps shall not be removable without destruction under
such normal conditions of usage as will be found to obtain during the handing
of the containers*
«Stamps must be affixed by adhesives in such manner as not be become
detached by any change in moisture conditions attending the storage, cooling
dispensing and other handling of the packages.
If necessary to accomplish thi
they shall be coated with a water repellent material which must not, however,
affect the legibility of the stamps*«
When a "beer tax stamp is attached to the container it must show clearly
the identity of the heer manufacturer.
The perforations must he intact and
legible on that portion of the stamp remaining on the barrel, or other con
tainer after the spigot is driven through.
The rules provide that the stamp
shall be centrally affixed upon the spigot hole in the head of the container,
and that the spigot of the air faucet must in all cases be driven through
the stamp in such manner as effectually to destory the stamp.
The decision further states that the affixing to a package of two or
more stamps having an aggregate face value of the amount of tax due thereon
is not a sufficient compliance with the provisions of the law.
The tax on
each package must be represented by a single stamp of proper denomination
duly cancelled and affixed upon the spigot hole of the container.
Brewers are charged by law with the procurement, affixing and cancellation
of the internal revenue stamps for the taxpayment of their fermented liquor.
The decision makes clear that beer intended for bottling, except when removed
by pipe line, must be drawn into stamped containers and be removed in such
containers to the bottling establishment.
The law prohibits the bottling of
fermented liquor from open and unstamped vessels.
I It
ENTRANCES
NUMBER OF VESSELS
Per Cent
Increase
In
Number
Per Cent
Increase
In
Tonnage
1953
1934
14,415
13.318
27,731
15,487
11*968
27,455
7.5
-10*1
- 1.6
4.0
2.7
3.5
5,067
2*570
7,437
5,327
2.342
7,669
5.1
•»1.2
3.1
0*8
»S>5
*•0.5
3,346
2*603
5,949
4,141
2*902
7,043
23.6
11.5
18.4
22*6
11.3
17.4
4,865
5,932
21.9
14.1
3,058
3,357
9*8
2.9
From Coastwise Ports
Domestic vessels only
13,192
13,180
•*0.1
«*0*1
Grand Total
Foreign vessels
Domestic vessels
Total
22,826
39.406
62,232
24,955
39,681
64,636
9.3
0.7
3.9
6.5
4.7
5.4
Direct from Foreign Ports
Foreign vessels
Domestic vessels
Total
Via Other Damegtio Ports to Lade
Foreign vessels
Donmstie vessels
Total
Via Other Domestic Ports with
Residue Cargo to Unlade
__
Foreign vessels
Domestic vessels
Total
From Intercoastal Ports
Domestic vessels only
From Ports in Noncontiguous
Territory
—
Domestic vessels only
Note: (~) denotes decrease.
»
(
I R
C9
the balance of their incoming cargo«
Both the number and
tonnage of Teasels making such additional stops increased
during the past fiscal year as compared with 1933«
Such
ressels are, of course, already included with those entering
direct from foreign ports amd their number and tonnage is
significant only as an eTidence of increased actiwity in
foreign trade«
Foreign Tessels are excluded from carrying cargoes
between ports in the united States or its possessions«
Tessels entering from intercoastal ports and from our non
contiguous territory and those carrying bonded cargoes
coastwise, are therefore, exclusively domestic Tessels«
Substantial increases appear both in the number and tonnage
of domestic vessels entered from intercoastal ports and from
ports in noncontiguous territory«
A detailed statement of the number of entrances of
Tessels and of the increases or decreases in their net ton
nage follows:
««3-
vessels increased by 3*5 percent from 59,487,515 tons during
the fiscal year 1933 to 61,599,596 during 1934«
Foreign vessels entering direct from foreign ports shoved
an increase both in number and in tonnage, the number of such
vessels being 7*5 percent and the tonnage 4 percent greater
during 1934 than during the preceding fiscal year.
Foreign vessels occupied a relatively more important place
during the past fiscal year, representing 60*8$ of the total
number as compared with 52# in 1933*
The tonnage of such vessels
also constituted a sligitly larger proportion of the total than
during the previous year*
Domestic vessels entering from foreign parts declined by
10*1# in number, although their tonnage showed an increase of
2*7
»*# over 1933*
arriving
The decline in the number of domestic vessels
from abroad was due to the entry of fewer vessels in
ballast; such vessels numbered only 5,106 in 1934 as compared
with 6,753 during the previous year, a decline of 24*4 percent*
Entries of American vessels with bulk or general cargo, on the
other hand, increased from 6,565 in 1933 to 6,862 during the
past fiscal year*
Before proceeding on ti»ir homeward voyage, vessels on**
gaged in foreign trade may go to other than the port of first
arrival either to lade cargo destined for abroad or to discharge
*•2»
The number of vessels entering through the various custom
houses of the United States aggregated 64,636 during the fiscal
year 1934, an increase of 5*4 percent from the total for the
preceding fiscal year (62,232), the Bureau of Customs announced
today*
The term "entering” is used by Customs officials in a some*
what technical sense and refers to the filing of certain specific
documents with the Collector of Customs within a short time after
the arrival of the vessel at a port*
All vessels, whether of
foreign or domestic registry, arriving in this country direct
from foreign ports are required to make entry at a customhouse*
In addition, all foreign vessels plying between American ports
for the purpose either of securing further cargo or of unlading
residue cargo, are required to make entry at each port of call«
American vessels if registered for foreign trade, or if they
carry any foreign cargo in bond, are likewise required to make
entry at each port of call*
The total number of vessels entering direct from foreign
ports during the past fiscal year was 27,455, a slight decrease
1*6 percent from the number of such vessels during the previous
fiscal year*
An indication of the upward trend of foreign trade,
however, appears from the fact that the net tonnage of these
TREASURY DEPARTMENT
Washington
FOR MORNING NEWSPAPERS,
Monday, September 17, 1934
9-15-34
Press Service
No, 2 - 9 9
The number of vessels entering through the various custom houses of the
United States aggregated 64,636 during the fiscal year 1934, an increase of
5,4 percent from the total for the preceding fiscal year (62,232), the Bureau
of Customs announced today.
The terra “entering" is used by Customs officials in a somewhat technical
sense and refers to the filing of certain specific documents with the Collector
of Customs within a short time after the arrival of the vessel at a port.
vessels, whether of foreign or
direct from
All
domestic registry, arriving in this country
foreign ports are required to make entry at a customhouse.
In
addition, all foreign vessels plying between American ports for the purpose
either of securing further cargo or of unlading residue cargo, are required to
make entry at each port of call,
American vessels if registered for foreign
trade, or if they carry any foreign cargo in bond, are likewise required to
make entry at each port of call.
The total number of vessels entering direct from foreign ports during
the past fiscal year was 27,455, a slight decrease 1.6 percent from the number
of such vessels during the previous fiscal year.
An indication of the upward
trend of foreign trade, however, appears from the fact that the net tonnage
of these vessels increased by 3.5 percent from 59,487,515 tons during the
fiscal year 1933 to 61,599,596 during 1934.
Foreign vessels entering direct from foreign ports showed an increase
both in number and in tonnage, the number of such vessels being 7.5 percent
and the tonnage 4 percent greater during 1934 than during the preceding fiscal
year
*** 3 **
Foreign vessels occupied a relatively Aore important place during the past
fiscal year, representing 60.8$ of the total number as compared with 52$ in
1933.
The tonnage of such vessels also constituted a slightly larger propor#
tion of the total than during the previous year.
Domestic vessels entering from foreign ports declined by 10,1$ in number,
although their tonnage showed an increase of 27$ over 1933.
The decline in
the number of domestic vessels arriving from abroad was due to the entry of
fewer vessels in ballast; such vessels numbered only 5,106 in 1934 as compared
with 6,753 during the previous year, a decline of 24,4 percent.
Entries of
American vessels with bulk or general cargo, on the other hand, increased from
6,565 in 1933 to 6,862 during the past fiscal year*
Before proceeding on their homeward voyage, vessels engaged in foreign
trade may go to other than the port of first arrival either to lade cargo des
tined for abroad or ot discharge the balance of their incoming cargo.
Both
the number and tonnage of vessels making such additional stops increased during
the past fiscal year as compared with 1933.
Such vessels are, of course, a!-*
ready included with those entering direct from foreign ports and their number
and tonnage is significant only as an evidence of increased activity in foreign
trade.
Foreign vessels are excluded from carrying cargoes between ports in the
United States or its possessions.
Vessels entering from intercoastal ports
and from our noncontiguous territory and those carrying bonded cargoes coast
wise, are therefore, exclusively domestic vessels..
Substantial increases
appear both in the number and tonnage of domestic vessels entered from inter
coastal ports and from ports in noncontiguous territory.
A dotailed statement of the number of entrances of vessels and of the
increases or decreases in their net tonnage follows:
ENTRANCES
NUMBER OF VESSELS
Per Cent
Increase
In
Number
Per Cent
Increase
In
Tonnage
1933
1934
14,413
13,318
27,731
15,487
11,968
27,455
7*5
-10,1
- 1.6
4.0
2.7
3,5
Via Other Domestic Ports to Lade
Foreign vessels
Domestic vessels
Total
5,067
2,370
7,437
5,327
2,342
7,669
5.1
«1.2
3.1
0.8
«3.3
-0,5
Via Other Domestic Ports with
Residue Cargo to Unlade
Foreign vessels
Domestic vessels
Total
3,346
2,603
5,949
4,141
2,902
7,043
23.8
11.5
18.4
22.6
11.3
17,4
From Inter coastal Ports
Domestic vessels only
4,865
5,932
21,9
14.1
From Ports in Noncontiguous
Territory
Domestic vessels only
3,058
3,357
9.8
2.9
From Coastwise Forts
Domestic vessels only
13,192.
13,180
-0.1
-0.1
Grand Total
Foreign vessels
Domestic vessels
Total
22,826
39,406
62,232
24,955
39,681
64,636
9.3
0.7
3.9
6.5
4.7
5.4
Direct from Foreign Ports
Foreign vessels
Domestic vessels
Total
Note
(—) denotes decrease
@FedFRASER