objection to the order of the Secretary of the Treasury shall be considered by the court unless such objection shall have been urged before the collector or chief officer of customs or unless there were reasonable grounds for failure so to do. The finding of the Secretary of the Treasury as to the facts, if supported by substantial evidence, shall be conclusive. If any party shall apply to the court for leave to adduce additional evidence, and shall show to the satisfaction of the court that such additional evidence is material and that there were reasonable grounds for failure to adduce such evidence in the proceeding before the collector or chief officer of customs, the court may order such additional evidence to be taken before the collector or chief officer of customs and to be adduced upon the hearing in such manner and upon such terms and conditions as to the court may seem proper. The Secretary of the Treasury may modify his findings as to the facts by reason of the additional evidence so taken, and he shall file with the court such modified or new findings, which, if supported by substantial evidence, shall be conclusive, and his recommendation, if any, for the modification or setting aside of the original order. The judgment and decree of the court affirming, modifying, or setting aside, in whole or in part, any such order of the Secretary of the Treasury shall be final, subject to review by the Supreme Court of the United States upon certiorari or certification as provided in sections 239 and 240 of the Judicial Code, as amended (U.S.C., title 28, secs. 346 and 347). The commencement of proceedings under this subsection shall, unless specifically ordered by the court, operate as a stay of the Secretary of the Treasury's order. ** 11.14 Records of the Committee. The Committee shall keep such rosters and other records as may be necessary to perform its functions under this part, and is authorized to require the permanent transfer to the Committee of any records in any office of the Treasury Department which pertain solely to the functions of the Committee in connection with the licensing and revocation of license of customhouse brokers. Copies of rosters shall be furnished to bureaus, offices, and divisions of the Treasury Department upon sufficient showing of need thereof. The Committee shall, on request, furnish information to any person as to whether any specified person is a licensed customhouse broker.** 11.15 Effective date of regulations. The regulations in this part shall become effective on May 16, 1936.*† **For statutory and source citations, see note to § 11.1. 50 Executive orders relating to the 76 77 52 Orders of the Secretary of the 79 53 Instructions of the Secretary of the 120 54 Provisional regulations issued 121 127 70 Proclamation of December 21, 1933, 128 Proclamation of April 10, 1935, concerning receipt of newly-mined domestic silver Proclamation of April 24, 1935, concerning receipt of newly-mined domestic silver Proclamation of December 30, 1937, The newly-mined domestic silver 129 Values of foreign moneys EDITORIAL NOTE: For list of abbreviations used in this chapter, see note to § 50.1. PART 50-EXECUTIVE ORDERS RELATING TO THE HOARDING, EXPORT, AND EARMARKING OF GOLD COIN, GOLD BULLION, AND GOLD CERTIFICATES 2 50.1 Declaring emergency and indicat- 50.6 Earmarking and export of gold ing scope of order. coin and gold bullion. Export of articles fabricated from gold. 50.2 Definitions. 50.3 Returns. 50.6a 50.4 Acquisition of gold coin and gold 50.7 Shipments to United States pos sessions. Regulations. 50.10 Fines and penalties. 50.11 Revocation or modification. 'Regulations of the Secretary of the Treasury of September 12, 1933, as amended, issued under E.O. 6260, Aug. 28, 1933, are not included in this codification because they have been in part superseded. Copies of such regulations may be procured from the Treasury Department. Page 1 Section 50.1 Declaring emergency and indicating scope of order. I, Franklin D. Roosevelt, President of the United States of America, do declare that a period of national emergency exists, and by virtue of said authority and of all other authority vested in me, do hereby prescribe the following provisions for the investigation and regulation of the hoarding, earmarking, and export of gold coin, gold bullion, and gold certificates by any person within the United States or any place subject to the jurisdiction thereof; and for the investigation and regulation of transactions in foreign exchange and transfers of credit and the export or withdrawal of currency from the United States or any place subject to the jurisdiction thereof by any person within the United States or any place subject to the jurisdiction thereof.** *§§ 50.1 to 50.11, inclusive, issued under the authority contained in sec. 5 (b), 40 Stat. 415, secs. 2, 13, 48 Stat. 1, 343; 12 U.S.C. 95a, 213, 31 U.S.C. 824. In §§ 50.1 to 50.11, inclusive (except § 50.6a), the numbers to the right of the decimal point correspond with the respective section numbers in Executive Order 6260, Aug. 28, 1933. Amendments are noted in brackets following sections affected. ABBREVIATIONS: The following abbreviations are used in this chapter: General ruling, Secretary of the Treasury. Secretary of the Treasury. 50.2 Definitions. As used in this part the term "person" means an individual, partnership, association, or corporation; and the term "the United States" means the United States and any place subject to the jurisdiction thereof.** 50.3 Returns. Within 15 days from August 28, 1933, every person in possession of and every person owning gold coin, gold bullion, or gold certificates shall make under oath and file as hereinafter provided a return to the Secretary of the Treasury containing true and complete information relative thereto, including the name and address of the person making the return; the kind and amount of such coin, bullion, or certificates held and the location thereof; if held for another, the capacity in which held and the person for whom held, together with the post office address of such person; the nature of the transaction requiring the holding of such coin, bullion, or certificates and a statement explaining why such transaction cannot be carried out by the use of currency other than gold certificates; Provided, That no returns are required to be filed with respect to and (a) Gold coin, gold bullion, and gold certificates in an amount not exceeding in the aggregate $100 belonging to any one person; (b) Gold coin having a recognized special value to collectors of rare and unusual coin; (c) Gold coin, gold bullion, and gold certificates acquired or held under a license heretofore granted by or under authority of the Secretary of the Treasury; and Page 2 **For statutory and source citations, see note to 8 50.1. (d) Gold coin, gold bullion, and gold certificates owned by Federal Reserve banks. Such return required to be made by an individual shall be filed with the collector of internal revenue for the collection district in which such individual resides, or, if such individual has no legal residence in the United States, then with the collector of internal revenue at Baltimore, Maryland. Such return required to be made by a partnership, association, or corporation shall be filed with the collector of internal revenue of the collection district in which is located the principal place of business or principal office or agency of such partnership, association, or corporation, or if it has no principal place of business or principal office or agency in the United States, then with the collector of internal revenue at Baltimore, Maryland. Such return required to be made by an individual residing in Alaska shall be filed with the collector of internal revenue at Seattle, Washington. Such return required to be made by a partnership, association, or corporation having its principal place of business or principal office or agency in Alaska shall be filed with the collector of internal revenue at Seattle, Washington. The Secretary of the Treasury may grant a reasonable extension of time for filing a return, under such rules and regulations as he shall prescribe. No such extension shall be for more than 45 days from August 28, 1933. An extension granted hereunder shall be deemed a license to hold for a period ending 15 days after the expiration of the extension. The returns required to be made and filed under this section shall constitute public records; but they shall be open to public inspection only upon order of the President and under rules and regulations prescribed by the Secretary of the Treasury. A return made and filed in accordance with this section by the owner of the gold coin, gold bullion, and gold certificates described therein, or his duly authorized agent, shall be deemed an application for the issuance under § 50.5 of a license to hold such coin, bullion, and certificates.*+ 50.4 Acquisition of gold coin and gold bullion. No person other than a Federal Reserve bank shall after August 28, 1933, acquire in the United States any gold coin, gold bullion, or gold certificates except under license therefor issued pursuant to this part; Provided, That member banks of the Federal Reserve System may accept delivery of such coin, bullion, and certificates for surrender promptly to a Federal Reserve bank, And provided further, That persons requiring gold for use in the industry, profession, or art in which they are regularly engaged may replenish their stocks of gold up to an aggregate amount of $100, by acquisitions of gold bullion held under licenses issued under § 50.5 (b), without necessity of obtaining a license for such acquisitions, And provided further, That collectors of rare and unusual coin may acquire from one another and hold without necessity of obtaining a license therefor gold coin having a recognized special value to collectors of rare and unusual coin (but not including quarter eagles, otherwise known as $2.50 pieces, unless held, together with rare and unusual coin, as part of a collection for **For statutory and source citations, see note to § 50.1. Page 3 |