By virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917 (40 Stat. L., 411), as amended by the Act of March 9, 1933, and by Section 4 of the said Act of March 9, 1933, and by virtue of all other authority vested in me, I hereby issue the following executive order. The Secretary of the Treasury is authorized and empowered under such regulations as he may prescribe to permit any member bank of the Federal Reserve System and any other banking institution organized under the laws of the United States, to perform any or all of their usual banking functions, except as otherwise prohibited. The appropriate authority having immediate supervision of banking institutions in each State or any place subject to the jurisdiction of the United States is authorized and empowered under such regulations as such authority may prescribe to permit any banking institution in such State or place, other than banking institutions covered by the foregoing paragraph, to perform any or all of their usual banking functions, except as otherwise prohibited. All banks which are members of the Federal Reserve System, desiring to reopen for the performance of all usual and normal banking functions, except as otherwise prohibited, shall apply for a license therefor to the Secretary of the Treasury. Such application shall be filed immediately through the Federal Reserve Banks. The Federal Reserve Bank shall then transmit such applications to the Secretary of the Treasury. Licenses will be issued by the Federal Reserve Bank upon approval of the Secretary of the Treasury. The Federal Reserve Banks are hereby designated as agents of the Secretary of the Treasury for the receiving of application and the issuance of licenses in his behalf and upon his instructions. Until further order, no individual, partnership, association, or corporation, including any banking institution, shall export or otherwise remove or permit to be withdrawn from the United States or any place subject to the jurisdiction thereof any gold coin, gold bullion, or gold certificates, except in accordance with regulations prescribed by or under license issued by the Secretary of the Treasury. No permission to any banking institution to perform any banking functions shall authorize such institution to pay out any gold coin, gold bullion or gold certificates except as authorized by the Secretary of the Treasury, nor to allow withdrawal of any currency for hoarding, nor to engage in any transaction in foreign exchange except such as may be undertaken for legitimate and normal business requirements, for reasonable traveling and other personal requirements, and for the fulfillment of contracts entered into prior to March 6, 1933. Every Federal Reserve Bank is authorized and instructed to keep itself currently informed as to transactions in foreign exchange entered into or consummated within its district and shall report to the Secretary of the Treasury all transactions in foreign exchange which are prohibited. FRANKLIN D ROOSEVELT The White House March 10, 1933.
Executive Order 6073 🏛️✅ Zone 1: Maximum Authority Constitutional Neutral (+0.02)
📜 Art. I §8: Delegated Tariff & Commerce Execution
Executive Order 6073—Regulations Concerning the Operation of Banks
Executive Brief • At a Glance
⏱️ 2 min read (493 words) •
● In Effect
🎯 Primary Mandate
I hereby issue the following executive order.
⚖️ Constitutional Footing
🏛️✅ Zone 1: Maximum Authority
Express or Implied Congressional Authorization
📜 Art. I §8: Delegated Tariff & Commerce Execution
🏛️ Scope & Affected Sectors
Sovereign State Governments & Localities Foreign Nations & International Entities Financial Institutions & Monetary Authorities
Plain-English Translation & Framers' Constitutional Analysis
Early Statesman synthesis distilling legal jargon into practical meaning, statutory anchors, and structural constitutional impacts.
Signed by President Franklin D. Roosevelt on March 10, 1933, this order concerns Regulations Concerning the Operation of Banks. I hereby issue the following executive order. The Secretary of the Treasury is authorized and empowered under such regulations as he may prescribe to permit any member bank of the Federal Reserve System and any other banking institution organized under the laws of the United States, to perform any or all of their usual banking functions, except as otherwise prohibited.
Constitutional Assessment: This action represents an orderly exercise of Article II administrative discretion, managing the internal machinery and personnel of the executive branch without abridging the ancient liberties of the people.
Key Directives & Operative Actions
▪
I hereby issue the following executive order.
▪
The Secretary of the Treasury is authorized and empowered under such regulations as he may prescribe to permit any member bank of the Federal Reserve System and any other banking institution organized under the laws of the United States, to perform any or all of their usual banking functions, except as otherwise prohibited.
▪
The appropriate authority having immediate supervision of banking institutions in each State or any place subject to the jurisdiction of the United States is authorized and empowered under such regulations as such authority may prescribe to permit any banking institution in such State or place, other than banking institutions covered by the foregoing paragraph, to perform any or all of their usual banking functions, except as otherwise prohibited.
▪
All banks which are members of the Federal Reserve System, desiring to reopen for the performance of all usual and normal banking functions, except as otherwise prohibited, shall apply for a license therefor to the Secretary of the Treasury.
Constitutional & Societal Entities Impacted
🏛️ Sovereign State Governments & Localities
🏛️ Foreign Nations & International Entities
🏛️ Financial Institutions & Monetary Authorities
Policy Areas & Topics
🏛️
The Framers' Constitutional Council
1787 PrismEvaluating this order against the constitutional debates of 1787 and the limits of Article II executive power.
🏛️✅ Zone 1 (Maximum Authority)
§
"When the President acts pursuant to an express or implied authorization of Congress, his authority is at its maximum, for it includes all that he possesses in his own right plus all that Congress can delegate."
— Justice Robert H. Jackson, Youngstown Sheet & Tube Co. v. Sawyer (1952) Express or Implied Congressional Authorization
JM
James Madison
Separation of Powers & Legislative Primacy
"The constitutional magistracy was designed not to invent policy, but to be the faithful instrument of the laws passed by the people's representatives." — Speech in the First Congress (1789)
Madison would approve the structural posture of this order. The President acts strictly in subordination to statutory authority granted under Article II, Section 3 ("take Care that the Laws be faithfully executed"). The checks and balances hold firm because the policy origin remains with the legislature.
Madisonian Stance: Concurring (Statutory)
AH
Alexander Hamilton
The Energetic Executive & Unified Command
"The direction of war implies the direction of the common strength; and the power of directing and employing the common strength must be under the direction of the single hand of the Executive." — Federalist No. 74 (1788)
Hamilton would forcefully champion executive discretion here. For foreign entanglements, commerce defense, and national security, deliberative assemblies are too slow and faction-ridden. A unified, energetic Executive exercising swift command is precisely what the Philadelphia Convention intended for national preservation.
Hamiltonian Stance: Supportive of Execution
GM
George Mason
Bill of Rights, Due Process & 10th Amendment
"The president will be surrounded by flatterers and sycophants... and the great powers of the executive will gradually absorb the liberties of the people." — Cato IV (Anti-Federalist, 1787)
The Anti-Federalist prism advises continuous democratic vigilance. Even routine administrative directives aggregate centralized federal power away from town halls and state assemblies toward a distant executive apparatus.
Anti-Federalist Stance: Eternal Vigilance Required
📐
Five Measurable "Constitutional Friction" Dimensions
An objective audit measuring potential separation-of-powers tension against the United States Constitution and established Supreme Court doctrine.
🛡️ High Constitutional Concordance
27 / 100 friction index
Dimension 1 • Art. I, §1 & §8
Low Friction
Legislative Encroachment & Purse
Operates within delegated statutory execution without modifying legislative appropriations or taxing powers.
Benchmark: Power of the purse, taxes/tariffs, and rule of law reserved to Congress.
Dimension 2 • Art. II, §1 & §3
Low Friction
Executive Scope & Faithfulness
Exercises standard supervisory executive authority to faithfully execute existing statutes.
Benchmark: Faithfully execute laws enacted by Congress vs. unilateral decree.
Dimension 3 • 10th Amendment
Moderate Friction
Federalism & State Sovereignty
Engages state and local partners in cooperative federalism programs.
Benchmark: Police powers and un-delegated responsibilities reserved to the States.
Dimension 4 • 5th & 14th Amendments
Moderate Friction
Due Process & Individual Rights
Applies regulatory or compliance standards to private contractors or commercial entities.
Benchmark: Protection of private property, contracts, liberty, and procedural justice.
Dimension 5 • Separation of Powers
Low Friction
Youngstown Jacksonian Tier
The President operates strictly as the constitutional Chief Executive, carrying out policy established by Congress with strong statutory backing.
Benchmark: Express or Implied Congressional Authorization
⚖️
Audit Synthesis
This order operates in close harmony with statutory authority and standard Article II supervisory execution.
Weighted composite: Art. I (25%), Art. II (25%), Federalism (15%), Due Process (15%), Youngstown (20%).
ℹ️
How to read these dimensions: Executive power expands whenever an administration acts without explicit statutory authorization from Congress (Article I), touches upon police powers historically reserved to the states (Tenth Amendment), or limits private rights and property without judicial process. A low friction score indicates strict concordance with enacted law; a high friction score highlights orders testing the limits of presidential discretion.
Total Words
493
3,071 characters
Estimated Read Time
2 min
@ 200 words / min
Flesch-Kincaid
20.4
Post-Graduate Legal
Text size:
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Referenced By Later Executive Orders (1)
Subsequent presidents who cited, amended, continued, or revoked this directive in later orders.
Gerald R. Ford • 1974-12-31
Related Executive Orders
Other executive actions signed by Franklin D. Roosevelt around this period.
EO 6072 Mar 8, 1933
⚖️✨ Zone 2 (Zone of Twilight) Constitutional Neutral
Executive Order 6072—Transfer of Control and Jurisdiction of Certain Buildings at Cristobal to the Navy Department
📜 Art. II §2: Commander-in-Chief Supervisory Authority
Buildings Nos. 1113, 1409, and 1411, located at Cristobal, Canal Zone, that were transferred, exclusive of the sites thereof but including free use of such sites, by Executive Order No. 3917, dated October 16, 1923, from the Panama Canal to the War Department, be, and the same…
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EO 6071 Mar 8, 1933
🏛️✅ Zone 1 (Maximum Authority) Constitutional Neutral
Executive Order 6071—Appointment of August A. Gennerich
📜 Art. I §8: Delegated Tariff & Commerce Execution
August A. Gennerich may be appointed an operative in the Secret Service Division of the Treasury Department without compliance with the requirements of the civil-service rules. This order is recommended by the Secretary of the Treasury.
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EO 6074 Mar 13, 1933
⚖️✨ Zone 2 (Zone of Twilight) Constitutional Neutral
Executive Order 6074—Amendment of Schedule A, Subdivision VII, of the Civil-Service Rules
📜 Art. II §3: Administrative Management & Civil Service
Schedule A, Subdivision VII, section 2, of positions excepted from examination, is hereby amended, by the insertion of the words underscored, to read as follows: 2.
Franklin D. Roosevelt College Level • 1m
EO 6077 Mar 15, 1933
⚖️✨ Zone 2 (Zone of Twilight) Constitutional Neutral
Executive Order 6077—Withdrawal of Public Lands for Resurvey
📜 Art. II §1: Executive Discretion & Internal Operations
The public lands in T. 12 S., R. 7 W. of the New Mexico principal meridian, New Mexico, be, and the same are hereby, withdrawn from settlement, location, sale, entry, and all forms of appropriation, pending a resurvey of said township under the act of March 3, 1909 (35 Stat.…
Franklin D. Roosevelt High School • 1m
EO 6076 Mar 15, 1933
⚖️✨ Zone 2 (Zone of Twilight) Constitutional Neutral
Executive Order 6076—Withdrawal of Public Lands for Resurvey
📜 Art. II §1: Executive Discretion & Internal Operations
The public lands in T. 1 S., R. 16 W.; T. 4 N., R. 18 W.; and T. 9 S., R. 9 W. of the New Mexico principal meridian, New Mexico, be, and the same are hereby, withdrawn from settlement, location, sale, entry, and all forms of appropriation, pending a resurvey of said townships…
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EO 6075 Mar 15, 1933
⚖️✨ Zone 2 (Zone of Twilight) Constitutional Neutral
Executive Order 6075—Withdrawal of Public Lands for Resurvey
📜 Art. II §1: Executive Discretion & Internal Operations
The public lands in T. 12 S., R. 68 W. of the sixth principal meridian, Colorado, be, and the same are hereby, withdrawn from settlement, location, sale, entry, and all forms of appropriation, pending a resurvey of said township under the act of March 3, 1909 (35 Stat. 845).
Franklin D. Roosevelt High School • 1m
📜
Scholarly & Legal Citations
Exec. Order No. 6073 (Mar. 10, 1933), https://executiveordersarchive.org/orders/app-executive-order-6073-regulations-concerning-the-operation-banks.
