Public Law 2.
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(/us/pl/73/1).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the CongressNational banking system.Emergency declared existing. hereby declares that a serious emergency exists and that it is imperatively necessary speedily to put into effect remedies of uniform national application. TITLE I Section 1. The actions, regulations, rules, licenses, orders andProclamations, orders, etc., issued since March 4, 1933; approval.Post, p. 343.Trading with the Enemy Act, amended.Vol. 40, pp. 415, 966, amended.Foreign exchange, export or hoarding of coin, bullion, etc.Regulatory powers of President during national emergency. proclamations heretofore or hereafter taken, promulgated, made, or issued by the President of the United States or the Secretary of the Treasury since March 4, 1933, pursuant to the authority conferred by subdivision
(b)of section 5 of the Act of October 6, 1917, as amended, are hereby approved and confirmed. Sec. 2. Subdivision
(b)of section 5 of the Act of October 6, 1917 (40 Stat. L. 411), as amended, is hereby amended to read as follows: " “(b) During time of war or during any other period of national emergency declared by the President, the President may, through any agency that he may designate, or otherwise, investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, transfers of credit between or payments by banking institutions as defined by the President, and export, hoarding, melting, or ear-marking of gold or silver coin or bullion or currency, by any person within the United States or any place subject to the jurisdiction thereof; and the President may require any person engaged in anyCompulsory testimony, etc. transaction referred to in this subdivision to furnish under oath, complete information relative thereto, including the production of any books of account, contracts, letters or other papers, in connection therewith in the custody or control of such person, either before or after such transaction is completed. Whoever willfully violatesPunishment for violation. any of the provisions of this subdivision or of any license, order, rule or regulation issued thereunder, shall, upon conviction, be fined not more than $10,000, or, if a natural person, may be imprisoned1 2for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both. “Person” construed.As used in this subdivision the term ‘person’ means an individual, partnership, association, or corporation.” " Sec. 3. Federal Reserve Act, amended.Vol. 39, p. 752. Section 11 of the Federal Reserve Act is amended by adding at the end thereof the following new subsection: " “(n) Emergency impounding of gold.Authority of Secretary of Treasury. Whenever in the judgment of the Secretary of the Treasury such action is necessary to protect the currency system of the United States, the Secretary of the Treasury, in his discretion, may require any or all individuals, partnerships, associations and corporations to pay and deliver to the Treasurer of the United States any or all gold coin, gold bullion, and gold certificates owned by such individuals, Exchange for any other form of currency, etc.partnerships, associations and corporations. Upon receipt of such gold coin, gold bullion or gold certificates, the Secretary of the Treasury shall pay therefor an equivalent amount of any other form of coin or currency coined or issued under the laws of Reimbursing transportation costs.the United States. The Secretary of the Treasury shall pay all costs of the transportation of such gold bullion, gold certificates, coin, or currency, including the cost of insurance, protection, and Hoarding, etc., deemed an offense.such other incidental costs as may be reasonably necessary. Any individual, partnership, association, or corporation failing to comply with any requirement of the Secretary of the Treasury made under Penalty.this subsection shall be subject to a penalty equal to twice the value of the gold or gold certificates in respect of which such failure occurred, and such penalty may be collected by the Secretary of the Treasury by suit or otherwise.” " Sec. 4. Operations of the National Banking and Federal Reserve Systems.Emergency suspension, etc., provided for. In order to provide for the safer and more effective operation of the National Banking System and the Federal Reserve System, to preserve for the people the full benefits of the currency provided for by the Congress through the National Banking System and the Federal Reserve System, and to relieve interstate commerce of the burdens and obstructions resulting from the receipt on an unsound or unsafe basis of deposits subject to withdrawal by check, during such emergency period as the President of the United States Proclamation.by proclamation may prescribe, no member bank of the Federal Reserve System shall transact any banking business except to such extent and subject to such regulations, limitations and restrictions as may be prescribed by the Secretary of the Treasury, with the Penalty for violation.approval of the President. Any individual, partnership, corporation, or association, or any director, officer or employee thereof, violating any of the provisions of this section shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $10,000 or, if a natural person, may, in addition to such Each day a separate offense.fine, be imprisoned for a term not exceeding ten years. Each day that any such violation continues shall be deemed a separate offense. TITLE II Sec. 201. “Bank Conservation Act.”Citation of title.Terms construed.*Post*, p. 72. This title may be cited as the “Bank Conservation Act.” Sec. 202. As used in this title, the term “bank” means
(1)any national banking association, and
(2)any bank or trust company located in the District of Columbia and operating under the supervision of the Comptroller of the Currency; and the term “State” means any State, Territory, or possession of the United States, and the Canal Zone. Sec. 203. Conservators. Whenever he shall deem it necessary in order to conserve the assets of any bank for the benefit of the depositors and other 3creditors thereof, the Comptroller of the Currency may appoint aAppointment.Bond, etc., required. conservator for such bank and require of him such bond and security as the Comptroller of the Currency deems proper. The conservator,To take over all books, assets, etc. under the direction of the Comptroller, shall take possession of the books, records, and assets of every description of such bank, and take such action as may be necessary to conserve the assets of such bank pending further disposition of its business as provided by law. Such conservator shall have all the rights, powers, andPowers and obligations of. privileges now possessed by or hereafter given receivers of insolvent national banks and shall be subject to the obligations and penalties, not inconsistent with the provisions of this title, to which receivers are now or may hereafter become subject. During the time that suchRights under. conservator remains in possession of such bank, the rights of all parties with respect thereto shall, subject to the other provisions of this title, be the same as if a receiver had been appointed therefor. All expenses of any such conservatorship shall be paid out of theExpenses of conservatorship. assets of such bank and shall be a lien thereon which shall be prior to any other lien provided by this Act or otherwise. The conservatorSalary. shall receive as salary an amount no greater than that paid to employees of the Federal Government for similar services. Sec. 204. The Comptroller of the Currency shall cause to be madeBank examination; reports. such examinations of the affairs of such bank as shall be necessary to inform him as to the financial condition of such bank, and the examiner shall make a report thereon to the Comptroller of the Currency at the earliest practicable date. Sec. 205. If the Comptroller of the Currency becomes satisfied thatTermination of conservatorship and resumption of bank business. it may safely be done and that it would be in the public interest, he may, in his discretion, terminate the conservatorship and permit such bank to resume the transaction of its business subject to such terms, conditions, restrictions and limitations as he may prescribe. Sec. 206. While such bank is in the hands of the conservatorSums for depositors’ withdrawals or payments for creditors set aside by conservator. appointed by the Comptroller of the Currency, the Comptroller may require the conservator to set aside and make available for withdrawal by depositors and payment to other creditors, on a ratable basis, such amounts as in the opinion of the Comptroller may safely be used for this purpose; and the Comptroller may, in his discretion,Receipt of deposits. permit the conservator to receive deposits, but deposits received while the bank is in the hands of the conservator shall not be subjectCertain limitations not applicable to. to any limitation as to payment or withdrawal, and such deposits shall be segregated and shall not be used to liquidate any indebtednessSegregation; restriction on use, etc. of such bank existing at the time that a conservator was appointed for it, or any subsequent indebtedness incurred for the purpose of liquidating any indebtedness of such bank existing at the time such conservator was appointed. Such deposits received whileTo be kept on hand in cash. the bank is in the hands of the conservator shall be kept on hand in cash, invested in the direct obligations of the United States, or deposited with a Federal reserve bank. The Federal reserve banksSeparate accounts to be kept. are hereby authorized to open and maintain separate deposit accounts for such purpose, or for the purpose of receiving deposits from State officials in charge of State banks under similar circumstances. Sec. 207. In any reorganization of any national banking associationBank reorganization.*Post*, p. 72.Requirements, etc. under a plan of a kind which, under existing law, requires the consent, as the case may be,
(a)of depositors and other creditors or
(b)of stockholders or
(c)of both depositors and other creditors and stockholders, such reorganization shall become effective only
(1)when the Comptroller of the Currency shall be satisfied that the planApproval of Comptroller. of reorganization is fair and equitable as to all depositors, other cred-4itors and stockholders and is in the public interest and shall have approved the plan subject to such conditions, restrictions and limitations as he may prescribe and
(2)when, after reasonable notice of Consent of depositors representing 75 per cent of deposits, etc.such reorganization, as the case may require,
(A)depositors and other creditors of such bank representing at least 75 per cent in amount of its total deposits and other liabilities as shown by the Or stockholders.books of the national banking association or
(B)stockholders owning at least two-thirds of its outstanding capital stock as shown by Depositors and other creditors.the books of the national banking association or
(C)both depositors and other creditors representing at least 75 per cent in amount of the total deposits and other liabilities and stockholders owning at least two-thirds of its outstanding capital stock as shown by the books of the national banking association, shall have consented in waiting *Proviso*.Satisfied claims to be deducted.to the plan of reorganization: *Provided, however*, That claims of depositors or other creditors which will be satisfied in full under the provisions of the plan of reorganization shall not be included among the total deposits and other liabilities of the national banking association in determining the 75 per cent thereof as above provided Disposition of records, assets, etc., on reorganization.When such reorganization becomes effective, all books, records, and assets of the national banking association shall be disposed of in accordance with the provisions of the plan and the affairs of the national banking association shall be conducted by its board of directors in the manner provided by the plan and under the conditions, restrictions and limitations which may have been prescribed Plan to apply equally.by the Comptroller of the Currency. In any reorganization which shall have been approved and shall have become effective as provided herein, all depositors and other creditors and stockholders of such national banking association, whether or not they shall have consented to such plan of reorganization, shall be fully and in all respects subject to and bound by its provisions, and claims of all depositors and other creditors shall be treated as if they had consented to such plan of reorganization.. Sec. 208. Segregation of deposits to cease. After fifteen days after the affairs of a bank shall have been turned back to its board of directors by the conservator, either with or without a reorganization as provided in section 207 hereof, the provisions of section 206 of this title with respect to the segregation of deposits received while it is in the hands of the conservator and with respect to the use of such deposits to liquidate the indebtedness *Proviso*.Notice before turning back control.of such bank shall no longer be effective: *Provided*, That before the conservator shall turn back the affairs of the bank to its board of directors he shall cause to be published in a newspaper published in the city, town or county in which such bank is located, and if no newspaper is published in such city, town or county, in a newspaper to be selected by the Comptroller of the Currency published in the State in which the bank is located, a notice in form approved by the Comptroller, stating the date on which the affairs of the bank will be returned to its board of directors and that the said provisions of To be furnished each depositor.section 206 will not be effective after fifteen days after such date; and on the date of the publication of such notice the conservator shall immediately send to every person who is a depositor in such bank under section 206 a copy of such notice by registered mail addressed to the last known address of such person as shown by the records of the bank, and the conservator shall send similar notice in like manner to every person making deposit in such bank under section 206 after the date of such newspaper publication and before the time when the affairs of the bank are returned to its directors. 5 Sec. 209. Conservators appointed pursuant to the provisions of thisProvisions governing conservators.[R.S. sec. 5209, p. 1007](/us/rs/s5209/p1007); [U.S.C. pp. 291, 475](/us/usc/pp291/475).Vol. 35, p. 1108.Vol. 40, p. 072. title shall be subject to the provisions of and to the penalties prescribed by section 5209 of the Revised Statutes (U. S. C., Title 12, sec. 592); and sections 112,113, 114,115, 116 and 117 of the Criminal Code of the United States (U. S. C., Title 18, secs. 202, 203, 204, 205, 206 and 207), in so far as applicable, are extended to apply to contracts, agreements, proceedings, dealings, claims and controversies by or with any such conservator or the Comptroller of the Currency under the provisions of this title. Sec. 210. Nothing in this title shall be construed to impair in anyPowers of President, etc., not impaired. manner any powers of the President, the Secretary of the Treasury, the Comptroller of the Currency, or the Federal Reserve Board. Sec. 211. The Comptroller of the Currency is hereby authorizedRules to be prescribed. and empowered, with the approval of the Secretary of the Treasury, to prescribe such rules and regulations as he may deem necessary in order to carry out the provisions of this title. Whoever violates any rule or regulation made pursuant to this section shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $5,000, or imprisoned not more than one year, or both. TITLE III Sec. 301. Notwithstanding any other provision of law, any nationalNational banks.Preferred stock.*Post*, p. 147. banking association may, with the approval of the Comptroller of the Currency and by vote of shareholders owning a majority of theIssue of, by vote of shareholders. stock of such association, upon not less than five days’ notice, given by registered mail pursuant to action taken by its board of directors, issue preferred stock in such amount and with such par value as shallAmount, par value, etc. be approved by said Comptroller, and make such amendments to its articles of association as may be necessary for this purpose; but, in the case of any newly organized national banking association which has not yet issued common stock, the requirement of notice to and vote of shareholders shall not apply. No issue of preferred stockPayment. shall be valid until the par value of all stock so issued shall be paid in. Sec. 302.
(a)The holders of such preferred stock shall be entitledDividends.*Post*, p. 148. to cumulative dividends at a rate not exceeding 6 per centum per annum, but shall not be held individually responsible as such holdersLiability of shareholders. for any debts, contracts, or engagements of such association and shall not be liable for assessments to restore impairments in the capital of such association as now provided by law with reference to holders of common stock. Notwithstanding any other provision of law, theVoting rights. holders of such preferred stock shall have such voting rights, and such stock shall be subject to retirement in such manner and on suchRetirement provisions. terms and conditions, as may be provided in the articles of association with the approval of the Comptroller of the Currency.
(b)No dividends shall be declared or paid on common stock untilPriority. the cumulative dividends on the preferred stock shall have been paid in full; and, if the association is placed in voluntary liquidation or a conservator or a receiver is appointed therefor, no payments shall be made to the holders of the common stock until the holders of the preferred stock shall have been paid in full the par value of such stock plus all accumulated dividends. Sec. 303. The term “common stock” as used in this title meansDefinitions.“Common stock.” stock of national banking associations other than preferred stock issued under the provisions of this title. The term “capital” as used“Capital.” in provisions of law relating to the capital of national banking associations shall mean the amount of unimpaired common stock plus 6the amount of preferred stock outstanding and unimpaired; and the “Capital stock,”term “capital stock”, as used in section 12 of the Act of March 14, 1900, shall mean only the amount of common stock outstanding. Sec. 304. Reconstruction Finance Corporation.Subscription for preferred stock.*Post*, p. 21. If in the opinion of the Secretary of the Treasury any national banking association or any State bank or trust company is in need of funds for capital purposes either in connection with the organization or reorganization of such association, State bank or trust company or otherwise, he may, with the approval of the President, request the Reconstruction Finance Corporation to subscribe for preferred stock in such association, State bank or trust company, or to make loans secured by such stock as collateral, and the Reconstruction Sale of, permitted.Finance Corporation may comply with such request. The Reconstruction Finance Corporation may, with the approval of the Secretary of the Treasury, and under such rules and regulations as he may prescribe, sell in the open market or otherwise the whole or any part of the preferred stock of any national banking association, State bank or trust company acquired by the Corporation pursuant Increase of outstanding obligations authorized.to this section. The amount of notes, bonds, debentures, and other such obligations which the Reconstruction Finance Corporation is authorized and empowered to issue and to have outstanding at any one time under existing law is hereby increased by an amount sufficient to carry out the provisions of this section. TITLE IV Sec. 401. Federal Reserve Act, amendments.Vol. 38, p. 269, amended.[U.S.C., p. 286](/us/usc/p286).Delivery of circulating notes on deposit of U.S. bonds, etc.*Post*, p. 21. The sixth paragraph of Section 18 of the Federal Reserve Act is amended to read as follows: " “Upon the deposit with the Treasurer of the United States,
(a)of any direct obligations of the United States or
(b)of any notes, drafts, bills of exchange, or bankers’ acceptances acquired under the provisions of this Act, any Federal reserve bank making such deposit in the manner prescribed by the Secretary of the Treasury shall be entitled to receive from the Comptroller of the Currency circulating notes in blank, duly registered and countersigned. Amount of issue.When such circulating notes are issued against the security of obligations of the United States, the amount of such circulating notes shall be equal to the face value of the direct obligations of the United States so deposited as security; and, when issued against the security of notes, drafts, bills of exchange and bankers’ acceptances acquired under the provisions of this Act, the amount thereof shall be equal to not more than 90 per cent of the estimated value of such notes, drafts, bills of exchange and bankers’ acceptances so deposited Value, use, etc.as security. Such notes shall be the obligations of the Federal reserve bank procuring the same, shall be in form prescribed by the Secretary of the Treasury, shall be receivable at par in all parts of the United States for the same purposes as are national bank notes, Redemption.and shall be redeemable in lawful money of the United States on presentation at the United States Treasury or at the bank of issue. Regulations.The Secretary of the Treasury is authorized and empowered to prescribe regulations governing the issuance, redemption, replacement, retirement and destruction of such circulating notes and the release Tax.and substitution of security therefor. Such circulating notes shall be subject to the same tax as is provided by law for the circulating notes of national banks secured by 2 per cent bonds of the United Issue to cease when emergency terminates; exception.States. No such circulating notes shall be issued under this paragraph after the President has declared by proclamation that the 7emergency recognized by the President by proclamation of March 6, 1933, has terminated, unless such circulating notes are secured by deposits of bonds of the United States bearing the circulation privilege. When required to do so by the Secretary of the Treasury,Agent of Treasurer or Comptroller of the Currency. each Federal reserve agent shall act as agent of the Treasurer of the United States or of the Comptroller of the Currency, or both, for the performance of any of the functions which the Treasurer or the Comptroller may be called upon to perform in carrying out the provisions of this paragraph. Appropriations available for distinctiveSums available for expenses. paper and printing United States currency or national bank currency are hereby made available for the production of the circulating notes of Federal reserve banks herein provided; but the UnitedReimbursement. States shall be reimbursed by the Federal reserve bank to which such notes are issued for all expenses necessarily incurred in connection with the procuring of such notes and all other expenses incidental to their issue, redemption, replacement, retirement and destruction.” " Sec. 402. Section 10(b) of the Federal Reserve Act, as amended,Vol. 47, p. 56, amended.[U.S.C., Supp. VI, p. 136](/us/usc/p136).Advances to member banks when acceptable assets not available for rediscount.*Post*, p. 21. is further amended to read as follows: " “Sec. 10(b). In exceptional and exigent circumstances, and when any member bank has no further eligible and acceptable assets available to enable it to obtain adequate credit accommodations through rediscounting at the Federal reserve bank or any other method provided by this Act other than that provided by section 10 (a), any Federal reserve bank, under rules and regulations prescribed by the Federal Reserve Board, may make advances to such member bankSecurity. on its time or demand notes secured to the satisfaction of such Federal reserve bank. Each such note shall bear interest at a rate notInterest. less than 1 per centum per annum higher than the highest discount rate in effect at such Federal reserve bank on the date of such note. No advance shall be made under this section after March 3, 1934, orExpiration. after the expiration of such additional period not exceeding one year as the President may prescribe.” " Sec. 403. Section 13 of the Federal Reserve Act, as amended, is amended by adding at the end thereof the following new paragraph: " “Subject to such limitations, restrictions and regulations as theAdvances to individuals, etc. Federal Reserve Board may prescribe, any Federal reserve bank may make advances to any individual, partnership or corporation on the promissory notes of such individual, partnership or corporation secured by direct obligations of the United States. Such advancesSecurity, interest, etc. shall be made for periods not exceeding 90 days and shall bear interest at rates fixed from time to time by the Federal reserve bank, subject to the review and determination of the Federal Reserve*Post*, p. 20. Board.” " TITLE V Sec. 501. There is hereby appropriated, out of any money in theAppropriation. Treasury not otherwise appropriated, the sum of $2,000,000, which shall be available for expenditure, under the direction of the President and in his discretion, for any purpose in connection with the carrying out of this Act. Sec. 502. The right to alter, amend, or repeal this Act is herebyAmendment, etc. expressly reserved. If any provision of this Act, or the applicationSaving provision. thereof to any person or circumstances, is held invalid, the remainder of the Act, and the application of such provision to other persons or circumstances, shall not be affected thereby. Approved, March 9, 1933, 8.30 p. m. To provide for certain expenses incident to the first session of the Seventy-third Congress. Chapter 2 48 Stat. 8 1933-03-17 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2024-12-11 73 1 public 8 [CHAPTER 2.] JOINT RESOLUTION To provide for certain expenses incident to the first session of the Seventy-third Congress.March 17, 1933.[[H. J. Res. 75](/us/bill/73/hjres/75).][[Pub. Res., No. 1](/us/bill/73/pubres/1).] Resolved by the Senate and House of Representatives of the United States of America in Congress assembled,Appropriations for certain expenses, first session, Seventy-third Congress.Mileage.Sums available.Vol. 47, pp. 1351, 1354. That the appropriations for mileage of Senators, Representatives, the Resident Commissioner from Puerto Rico, and the Delegate from Hawaii, and for expenses of the Delegate from Alaska and the Resident Commissioners from the Philippine Islands, contained in the Legislative Appropriation Act for the fiscal year 1934, are hereby made immediately available and authorized to be paid to Senators, Representatives, Delegates, and Resident Commissioners, for attendance on the first session of the Seventy-third Congress. Stationery.Vol. 47, p. 1358.The appropriation for stationery for Representatives, Delegates, and Resident Commissioners, and for the committees and officers of the House, contained in the Legislative Appropriation Act for the Limitations waived.Vol. 47, p. 408.fiscal year 1934, is hereby made immediately available for expenditure on account of the first session of the Seventy-third Congress notwithstanding the provisions of section 304 of the Act of June 30, *Proviso*.Stationery allowance.1932 (47 Stat. 408): *Provided*, That from such sum each Representative, Delegate, and Resident Commissioner shall be allowed $90 for stationery allowance or commutation therefor. Approved, March 17, 1933. To maintain the credit of the United States Government. Chapter 3 48 Stat. 8 1933-03-20 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2024-12-11 73 1 public [CHAPTER 3.] AN ACT To maintain the credit of the United States Government.March 20, 1933.[[H.R. 2820](/us/bill/73/hr/2820).][[Public, No. 2](/us/pl/73/2).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Maintenance of credit of United States. TITLE I veteransVeterans. Section 1. Pensions.Regulations of the President.*Post*, pp. 524, 1282.Executive orders, Nos. 6089–6100, March 31, 1933; 6156–6159, June 6, 1933; 6231–6234, July 28, 1933.Classes entitled.Disease, etc., in line of duty. That subject to such requirements and limitations as shall be contained in regulations to be issued by the President, and within the limits of appropriations made by Congress, the following classes of persons may be paid a pension:
(a)Any person who served in the active military or naval service and who is disabled as a result of disease or injury or aggravation of a preexisting disease or injury incurred in line of duty in such service.
(b)Certain war-time services. Any person who served in the active military or naval service during the Spanish-American War, including the Boxer Rebellion and the Philippine Insurrection, or the World War, and who is *Proviso*.Spanish-American War veteran over 62.permanently disabled as a result of injury or disease: *Provided*, That nothing contained in this title shall deny a pension to a Spanish-American War veteran past the age of sixty-two years entitled to a pension under existing law, but the President may reduce the rate of pension as he may deem proper.
(c)Widows, dependent parents, etc. The widow, child, or children, dependent mother or father, of any person who dies as a result of disease or injury incurred or aggravated in line of duty in the active military or naval service.
(d)Designated war service. The widow and/or child of any deceased person who served in the active military or naval service during the Spanish-American War, including the Boxer Rebellion and the Philippine Insurrection. 9
(e)For the purpose of subparagraph
(b)of this section, theFixing World War service. World War shall be deemed to have ended November 11, 1918. Sec. 2. The minimum and maximum monthly rate of pensionMinimum and maximum rates.*Post*, p. 524. which may be paid for disability or death shall be as follows: For disability, from $6 to $275; for death, from $12 to $75. Sec. 3. For each class of persons specified in subparagraphs (a)Degrees of disability. and
(b)of section 1 of this title the President is hereby authorized to prescribe by regulation the minimum degrees of disability and such higher degrees of disability, if any, as in his judgment should be recognized and prescribe the rate of pension payable for each such degree of disability. In fixing rates of pensions for disabilityDeath. or death the President shall prescribe by regulation such differentiation as he may deem just and equitable, in the rates to be paid to veterans of different wars and/or their dependents and to be paid for
(a)Disabilities and deaths resulting from disease or injuryWar-time service. incurred or aggravated in line of duty in war-time service;
(b)Disabilities and deaths resulting from disease or injuryPeace-time service. incurred or aggravated in line of duty in peace-time service;
(c)Disabilities and deaths not incurred in service.Not in service. Sec. 4. The President shall prescribe by regulation (subject to thePrescribing duration of certain wars. provisions of section 1
(e)of this title) the date of the beginning and of the termination of the period in each war subsequent to the Civil War, including the Boxer Rebellion and the Philippine Insurrection, service within which shall for the purposes of this Act be deemed war-time service. The President shall further prescribe byRegulations as to service, claims, etc. regulation the required number of days of war or peace time service for each class of veterans, the time limit on filing of claims for each class of veterans and their dependents, the nature and extent of proofs and presumptions for such different classes, and any other requirements as to entitlement as he shall deem equitable and just. The President in establishing conditions precedent may prescribeClassification, conditions, etc. different requirements or conditions for the veterans of different wars and their dependents and may further subdivide the classes of persons as outlined in section 1 of this title and apply different requirements or conditions to such subdivisions. Sec. 5. All decisions rendered by the Administrator of Veterans’Finality of decisions. Affairs under the provisions of this title, or the regulations issued pursuant thereto, shall be final and conclusive on all questions of law and fact, and no other official or court of the United States shall have jurisdiction to review by mandamus or otherwise any such decision. Sec. 6. In addition to the pensions provided in this title, theDomiciliary care.*Post*, pp. 301, 525. Administrator of Veterans’ Affairs is hereby authorized under such limitations as may be prescribed by the President, and within the limits of existing Veterans’ Administration facilities, to furnish to veterans of any war, including the Boxer Rebellion and the Philippine Insurrection, domiciliary care where they are suffering with permanent disabilities, tuberculosis or neuropsychiatric ailments and medical and hospital treatment for diseases or injuries. Sec. 7. The Administrator of Veterans’ Affairs subject to the generalAdministrator of Veterans’ Affairs.Authority, etc. direction of the President and in accordance with regulations to be issued by the President shall administer, execute, and enforce the provisions of this title and for such purpose shall have the same authority and powers as are provided in sections 425, 430, 431, 432,[U.S.C., p. 1215](/us/usc/p1215). 433, 434, 440, 442, 443, 444, 447, 450, 451, 453, 455, 457, 458, 459, 459a, 459c, 459d, 459e, 459f, title 38, U. S. C., and such other sections of title 38, U. S. C., as relate to the administration of the laws granting pensions. 10 Sec. 8. Delegation of authority. The Administrator of Veterans’ Affairs is hereby authorized in carrying out the provisions of Title 1 of this Act or any other pension Act to delegate authority to render decisions to such person or persons as he may find necessary. Within the limitations of such delegations, any decisions rendered by such person or persons shall have the same force and effect as though rendered by the Administrator Approval of regulations.of Veterans’ Affairs. The President shall personally approve all regulations issued under the provisions of this title. Sec. 9. Claims for benefits.Filing, hearings, review, etc. Claims for benefits under this title shall be filed with the Veterans’ Administration under such regulations, including provisions for hearing, determination, and administrative review, as the President may approve, and payments shall not be made for any Payments, reopening, etc.period prior to date of application. When a claim shall be finally disallowed under this title and the regulations issued thereunder, it Participation by beneficiary in decision.*Post*, p. 526.may not thereafter be reopened or allowed. No person who is entitled to any benefits under this title shall participate in any determination or decision with respect to any claim for benefits under this title. Sec. 10. Retired emergency officers.Continuance of pay, if retirement due to service injury, etc.*Post*, p. 112. Notwithstanding the provisions of section 2 of this title, any person who served as an officer of the Army, Navy, or Marine Corps of the United States during the World War, other than as an officer of the Regular Army, Navy, or Marine Corps during the World War, who made valid application for retirement under the Vol. 45, p. 735, amended.[U.S.C., Supp. VI, p. 727](/us/usc/p727).provisions of Public No. 506, Seventieth Congress, enacted May 24, 1928, sections 581 and 582, title 38, United States Code, and who prior to the passage of this Act has been granted retirement with pay, shall be entitled to continue to receive retirement pay at the monthly rate now being paid him if the disability for which he has been retired resulted from disease or injury or aggravation of a preexisting disease or injury incurred in line of duty during such *Provisos*.World War service.Disability in line of duty, etc.service: *Provided*, That such person entered active service between April 6, 1917, and November 11, 1918: *Provided*, That the disease or injury or aggravation of the disease or injury directly resulted from the performance of military or naval duty, and that such person otherwise meets the requirements of the regulations which may be issued under the provisions of this Act. Sec. 11. Offenses under repealed acts.*Post*, p. 11.Incurred penalties, etc., prosecuted. All offenses committed and all penalties or forfeiture incurred under the acts repealed by section 17 of this title may be prosecuted and punished in the same manner and with the same effect as if said repeal had not been made and any person who forfeited rights to benefits under any such acts shall not be entitled to any benefits under this title. Sec. 12. Perjury. That whoever in any claim for benefits under this title or by regulations issued pursuant to this title, makes any sworn Punishment for.statement of a material fact knowing it to be false, shall be guilty of perjury and shall be punished by a fine of not more than $5,000 or by imprisonment for not more than two years, or both. Sec. 13. Fraudulently accepting pension. That if any person entitled to payment of pension under this title, whose right to such payment under this title or under any regulation issued under this title, ceases upon the happening of any Punishment for.contingency, thereafter fraudulently accepts any such payment, he shall be punished by a fine of not more than $2,000 or by imprisonment for not more than one year, or both. Sec. 14. Fraudulently obtaining money, etc. That whoever shall obtain or receive any money, check, or pension under this title, or regulations issued under this title, without being entitled to the same, and with intent to defraud the United States or any beneficiary of the United States, shall be punished by a fine of not more than $2,000, or by imprisonment for not more than one year, or both. 11 Sec. 15. Any person who shall knowingly make or cause to beFalse affidavits, etc. made, or conspire, combine, aid, or assist in, agree to, arrange for, or in any wise procure the making or presentation of a false or fraudulent affidavit, declaration, certificate, statement, voucher, or paper, or writing purporting to be such, concerning any claim for benefits under this title, shall forfeit all rights, claims, and benefitsPunishment for. under this title, and, in addition to any and all other penalties imposed by law, shall be guilty of a misdemeanor and upon conviction thereof shall be punished by a fine of not more than $1,000 or imprisonment for not more than one year, or both. Sec. 16. Every guardian, curator, conservator, committee, or personEmbezzlement by guardian, etc. legally vested with the responsibility or care of a claimant or his estate, having charge and custody in a fiduciary capacity of money paid, under the provisions of this title, for the benefit of any minor or incompetent claimant, who shall embezzle the same in violation of his trust, or convert the same to his own use, shall be punished by a fine not exceeding $2,000 or imprisonment at hard labor for a term not exceeding five years, or both. Sec. 17. All public laws granting medical or hospital treatment,Veterans of designated wars.Public laws granting certain allowances, etc., repealed.[U.S.C., p. 1191](/us/usc/p1191).*Post*, p. 526. domiciliary care, compensation and other allowances, pension, disability allowance, or retirement pay to veterans and the dependents of veterans of the Spanish-American War, including the Boxer Rebellion and the Philippine Insurrection, and the World War, or to former members of the military or naval service for injury or disease incurred or aggravated in the line of duty in the military or naval service (except so far as they relate to persons who served prior to the Spanish-American War and to the dependents of such persons, and the retirement of officers and enlisted men of the Regular Army, Navy, Marine Corps, or Coast Guard) are hereby repealed,Term insurance.[U.S.C., p. 1225](/us/usc/p1225). and all laws granting or pertaining to yearly renewable term insurance are hereby repealed, but payments in accordance with such laws shall continue to the last day of the third calendar month following the month during which this Act is enacted. The Administrator of Veterans’ Affairs under the general direction of the President shallReview of allowed claims. immediately cause to be reviewed all allowed claims under the above referred to laws and where a person is found entitled under this Act, authorize payment or allowance of benefits in accordance with the provisions of this Act commencing with the first day of the fourth calendar month following the month during which this Act is enacted and notwithstanding the provisions of section 9 of*Ante*, p. 10. this Act, no further claim in such cases shall be required: *Provided*,*Provisos*.Matured insurance. That nothing contained in this section shall interfere with payments heretofore made or hereafter to be made under contracts of yearly renewable term insurance which have matured prior to the date of enactment of this Act and under which payments have been commenced, or on any judgment heretofore rendered in a court of competent jurisdiction in any suit on a contract of yearly renewable term insurance, or which may hereafter be rendered in any such suit now pending: *Provided further*, That, subject to such regulations asFuneral, etc., expenses.*Post*, p. 310. the President may prescribe, allowances may be granted for burial and funeral expenses and transportation of the bodies (including preparation of the bodies) of deceased veterans of any war to the places of burial thereof in a sum not to exceed $107 in any one case. The provisions of this title shall not apply to compensation orDisabled veterans, pensions, etc. pension (except as to rates, time of entry into active service and special statutory allowances), being paid to veterans disabled, or dependents of veterans who died, as the result of disease or injury directly connected with active military or naval service (without benefit of statutory or regulatory presumption of service connection) 12Emergency officers’ retired pay not included.pursuant to the provisions of the laws in effect on the date of enactment of this Act. The term “compensation or pension” as *Ante*, p. 10.used in this paragraph shall not be construed to include emergency officers’ retired pay referred to in section 10 of this title. Sec. 18. Payments for fiscal year 1934 reduced.*Post*, p. 521. For the fiscal year ending June 30, 1934, any pension, and/or any other monetary gratuity, payable to former members of the military or naval service in wars prior to the Spanish-American War, and their dependents, for service, age, disease, or injury, except retired pay of officers and enlisted men of the Regular Army, Navy, Marine Corps, or Coast Guard, shall be reduced by 10 per centum of the amount payable. Sec. 19. Effect of Executive orders. The regulations issued by the President under this title which are in effect at the expiration of two years after the date of enactment of this Act shall continue in effect without further change or modification until the Congress by law shall otherwise provide. Sec. 20. Transmittal to Congress. The President shall transmit to the Congress, as soon as practicable after the date of their issue, copies of all regulations issued pursuant to this title. TITLE II Officers and employees.officers and employees Sec. 1. *Post*, p. 521.Terms construed.Persons included. When used in this title—
(a)The terms “officer” and “employee” mean any person rendering services in or under any branch or service of the United States Government or the government of the District of Columbia, but do Exempted.not include
(1)officers whose compensation may not, under the Constitution, be diminished during their continuance in office;
(2)the Vice President, the Speaker of the House of Representatives, Senators, Representatives in Congress, Delegates, and Resident Commissioners;
(3)officers and employees on the rolls of the Senate and House of Representatives;
(4)any person in respect of any office, position, or employment the amount of compensation of which is expressly fixed by international agreement; and
(5)any person in respect of any office, position, or employment the compensation of which is paid under the terms of any contract in effect on the date of the enactment of this title, if such compensation may not lawfully be reduced.
(b)“Compensation” defined. The term “compensation” means any salary, pay, wage, allowance (except allowances for travel), or other emolument paid for services rendered in any civilian or noncivilian office, position, or employment; and includes the retired pay of judges (except judges whose compensation, prior to retirement or resignation, could not, under the Constitution, have been diminished), and the retired pay of all commissioned and other personnel of the Coast and Geodetic Survey, the Lighthouse Service, and the Public Health Service, and the retired pay of all commissioned and other personnel Payments excluded.of the Army, Navy, Marine Corps, and Coast Guard; but does not include payments out of any retirement, disability, or relief fund made up wholly or in part of contributions of employees. Sec. 2. Determination of salaries, part of fiscal year 1933 and all of 1934.*Post*, p. 521. For that portion of the fiscal year 1933 beginning with the first day of the calendar month following the month during which this Act is enacted, and for the fiscal year ending June 30, 1934, the compensation of every officer or employee shall be determined as follows:—
(a)Basis for computing. The compensation which such officer or employee would receive under the provisions of any existing law, schedule, regulation, Executive order, or departmental order shall first be determined as though this title (except section 4) had not been enacted. 13
(b)The compensation as determined under subparagraph (a)Percentage reduction. of this section shall be reduced by the percentage, if any, determined in accordance with section 3 of this title. Sec. 3.
(a)The President is authorized to investigate throughIndex figure of cost of living.Determination of, for base periods. established agencies of the Government the facts relating to the cost of living in the United States during the six months period ending June 30, 1928, to be known as the base period, and upon the basis of such facts and the application thereto of such principles as he may find proper, determine an index figure of the cost of living during such period. The President is further authorized to make aOther periods. similar investigation and determination of an index figure of the cost of living during the six months period ending December 31, 1932, and each six months period thereafter.
(b)The President shall announce by Executive order the indexAnnouncement by Executive order.Pay readjustments.Executive Orders, Nos. 6085, March 28, 1933; 6188, July 3, 1933; 6553, January 9, 1934; 6791, July 6, 1934.*Post*, p. 522. figure for the base period and for each subsequent period determine 1 by him under paragraph
(a)of this section. The percentage, in any, by which the cost of living index for any six months’ period, as provided in paragraph
(a)of this section, is lower than such index for the base period, shall be the percentage of reduction applicable under section 2
(b)of this title in determining compensation to be paid during the following six months’ period, or such portion thereof during which this title is in effect: *Provided*, That*Provisos*.Maximum pay reduction. such percentage of reduction (including reductions made under any existing law, regulation, or Executive order, in the case of subsistence and rental allowances for the services mentioned in the Pay ActVol. 42, p. 628. of June 10, 1922) shall not exceed 15 per centum. Sec. 4.
(a)Section 4 of An Act Making Appropriations for theVol. 47, p. 1513, amended. Treasury and Post Office Departments for the fiscal year ending June 30, 1934, and for other purposes, approved March 3, 1933, is hereby amended to read as follows: " “Sec. 4.
(a)The provisions of the following sections of Part IIDesignated provisions of Economy Act continued effective.Vol. 47, p. 401.*Post*, p. 522. of the Legislative Appropriation Act, fiscal year 1933, are hereby continued in full force and effect during the fiscal year ending June 30, 1934, namely sections 105 (except subsections
(d)and
(e)thereof), 107 (except paragraph
(5)of subsection
(a)thereof andStationery for Members of Congress.*Post*, p. 318. subsection
(b)thereof), 201, 203, 206 (except subsection
(a)thereof), 214, 216, 304, 315, 317, 318, and 323, and for the purpose of continuing such sections, in the application of such sections with respect to the fiscal year ending June 30, 1934, the figures ‘1933’ shall be read as ‘1934’; the figures ‘1934’ as ‘1935’; and the figures ‘1935’ as ‘1936’; and, in the case of section 203, the figures ‘1932’ shall be read as ‘1933’; except that in the application of such sections with respect to the fiscal year ending June 30, 1934 (but not with respect to the fiscal year ending June 30, 1933), theModifications. following amendments shall apply: “(1) Section 216 is amended by striking out the period at theFurloughs. end thereof and inserting in lieu thereof a colon and the following: ‘ *Provided further*, That no employee under the classified civil serviceMaximum period, fiscal year 1934.Vol. 47, p. 1514, amended. shall be furloughed under the provisions of this section for a total of more than 90 days during the fiscal year 1934, except after full and complete compliance with all the provisions of the civil-service laws and regulations relating to reductions in personnel.’ “(2) Section 317 is amended by striking out the period at the endTransfer of appropriations.Limitation “public works” personnel.Vol. 47, p. 1514, amended. thereof and inserting in lieu thereof a colon and the following: ‘ *Provided further*, That no part of any appropriation for “public works”, nor any part of any allotment or portion available for “public works” under any appropriation, shall be transferred pursuant to the authority of this section to any appropriation for expenditure for personnel unless such personnel is required upon or in connection 14“Public works” construed.with “public works.” “Public works” as used in this section shall comprise all projects falling in the general classes enumerated in Budget Statement No. 9, pages A177 to A182, inclusive, of the Budget for the fiscal year 1934, and shall also include the procurement of new airplanes and the construction of vessels under appropriations Official interpretation conclusive.for “Increase of the Navy.” The interpretation by the Director of the Bureau of the Budget, or by the President in the cases of the War Department and the Navy Department, of “public works” as defined and designated herein shall be conclusive.’ “(b) Inconsistent acts, etc., suspended. All Acts or parts of Acts inconsistent or in conflict with the provisions of such sections as amended, are hereby suspended during the period in which such sections, as amended, are in effect. “(c) Suits respecting pay, etc., restricted. No court of the United States shall have jurisdiction of any suit against the United States or (unless brought by the United Vol. 47, pp. 401, 402.States) against any officer, agency, or instrumentality of the United States arising out of the application as provided in this section, of such sections 105 or 107, as amended, unless such suit involves the Constitution of the United States. “(d) Unexpended sums impounded. The appropriations or portions of appropriations unexpended by reason of the operation of the amendments made in subsection
(a)of this section shall not be used for any purpose, but shall be impounded and returned to the Treasury. “(e) Reduction in permanent, etc., appropriations. Each permanent specific annual appropriation available during the fiscal year ending June 30, 1934, is hereby reduced for that fiscal year by such estimated amount as the Director of the *Post*, p. 15.Bureau of the Budget may determine will be equivalent to the savings that will be effected in such appropriation by reason of the application of this section and section 7.” "
(b)Vol. 47, p. 1515, repealed. Sections 5 and 6 of the Treasury and Post Office Appropriation Act, fiscal year 1934, are hereby repealed.
(c)Annual leave limitation.Vol. 47, p. 407, amended. Section 215 of the Legislative Appropriation Act, fiscal year 1933 (relating to the limitation on annual leave), is amended by striking out “ *Provided further*, That nothing herein shall apply to civilian officers and employees of the Panama Canal located on the Isthmus and who are American citizens, or to officers and employees of the Foreign Services of the United States holding official station outside the continental United States” and inserting in lieu thereofCivilian employees in Canal Zone; officers holding official station outside United States, Alaska.“ *Provided further*, That nothing herein shall apply to officers and employees of the Panama Canal and Panama Railroad Company on the Isthmus of Panama, or to officers and employees of the United States (including enlisted personnel) holding official station outside the continental United States or in Alaska.”
(d)Furloughs, overtime pay, etc.Sections repealed.Vol. 47, pp. 399–403, 406. The following sections of Part II of the Legislative Appropriation Act, fiscal year 1933, are hereby repealed effective on the first day of the calendar month following the month in which this Act is enacted; namely, sections 101, 102, 103, 104, subsections
(d)and
(e)of section 105, 106, 107 (except paragraphs (1), (2), (3), and
(4)of subsection
(a)thereof), 108, 112, and 211.
(e)Vice President and Speaker of the House of Representatives.Senators, Representatives, etc. Subsection
(a)of section 105 or the Legislative Appropriation Act, fiscal year 1933, is amended to read as follows, beginning with the first day of the calendar month following the month during which this Act is enacted: " “(a) Salaries reduced. The salaries of the Vice President and the Speaker of the Vol. 47, p. 401, amended.House of Representatives are reduced by 15 per centum; and the salaries of Senators, Representatives in Congress, Delegates, and Resident Commissioners are reduced by 15 per centum.” " 15
(f)Subsection
(b)of section 105 of the Legislative AppropriationCongressional clerk hire.Vol. 47, p. 401. Act, fiscal year 1933, is amended to read as follows, beginning with the first day of the calendar month following the month during which this Act is enacted: " “(b) The allowance for clerk hire of Representatives in Congress,Allowance for, reduced. Delegates, and Resident Commissioners is reduced by the percentage applicable by law to other employees on the roll of the House of Representatives, such reduced allowance to be apportioned by the Representative, Delegate, or Resident Commissioner among his clerks as he may determine, subject to the limitations of existing law, but the compensation of such clerks shall not be subject to reduction under subsection
(c)of this section.” "
(g)Subsection
(c)of section 105 of the Legislative AppropriationOther congressional officers and employees. Act, fiscal year 1933, is amended to read as follows, beginning with the first day of the calendar month following the month during which this Act is enacted: " “(c) The rate of compensation of any person on the rolls of theRate of pay reduced. Senate or of the House of Representatives (other than persons included within subsection (a)), is reduced by the percentage applicable by law to employees of the Government generally.” " Sec. 5. The provisions of this title providing for temporary reductionsRetired pay. in compensation and suspension in automatic increases in compensation shall not operate to reduce the rate of compensation upon which the retired pay or retirement benefits of any officer or employee would be based but for the application of such provisions, but the amount of retired pay shall be reduced as provided in this title: *Provided*, That retirement deductions authorized by law to be made*Proviso*.Deductions based on regular salary rate. from the salary, pay, or compensation of officers or employees and transferred or deposited to the credit of a retirement fund, shall be based on the regular rate of salary, pay, or compensation instead of on the rate as temporarily reduced under the provisions of this title. Sec. 6. In the case of a corporation the majority of the stock ofGovernment corporations.Pay provisions. which is owned by the United States, the holders of the stock on behalf of the United States, or such persons as represent the interest of the United States in such corporation, shall take such action as may be necessary to apply the provisions of this title to offices, positions, and employments under such corporation and to officers and employees thereof, with proper allowance for any reduction in compensation since December 31, 1931. Sec. 7. In any case in which the application of the provisions ofRemittances from Constitutional officers. this title to any person would result in a diminution of compensation prohibited by the Constitution, the Secretary of the TreasuryAcceptance; sums covered in. is authorized to accept from such person, and cover into the Treasury as miscellaneous receipts, remittance of such part of the compensation of such person as would not be paid to him if such diminution of compensation were not prohibited. Sec. 8. The appropriations or portions of appropriations unexpendedUnexpended sums impounded.*Post*, p. 523. by reason of the operation of this Act shall not be used for any purpose, but shall be impounded and returned to the Treasury. Sec. 9. No court of the United States shall have jurisdiction ofSuits arising hereunder.Court jurisdiction limited. any suit against the United States or (unless brought by the United States) against any officer, agency, or instrumentality of the United States arising out of the application of any provision of this title,Constitution excepted.*Post*, p. 522. unless such suit involves the Constitution of the United States. 16 TITLE III amendments to legislative appropriation act, fiscal year, 1933 Section 1. Legislative Act, fiscal year 1933.Vol. 47, pp. 414, 1519, amended. Sections 407 and 409 of Title IV of Part II of the Legislative Appropriation Act, fiscal year 1933, as amended by section 17 of the Treasury and Post Office Appropriation Act, approved March 3, 1933, are amended to read as follows: " “Sec. 407. Executive orders to be transmitted to Congress. Whenever the President makes an Executive order under the provisions of this title, such Executive order shall be submitted Effective date.to the Congress while in session and shall not become effective until after the expiration of sixty calendar days after such transmission, unless Congress shall by law provide for an earlier effective date of such Executive order or orders. “Sec. 409. Department reorganization, etc.Orders to be transmitted within two years.Vol. 47, p. 413. No Executive order issued by the President in pursuance of the provisions of section 403 of this title shall become effective unless transmitted to the Congress within two years from the date of the enactment of this Act.” " Approved, March 20, 1933. To provide revenue by the taxation of certain nonintoxicating liquor, and for other purposes. Chapter 4 48 Stat. 16 1933-03-22 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2024-12-11 73 1 public [CHAPTER 4.] AN ACT To provide revenue by the taxation of certain nonintoxicating liquor, and for other purposes.March 22, 1933.[[H.R. 3341](/us/bill/73/hr/3341).][
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