Executive Order 6767—Modification of Executive Order No. 6646 of March 14, 1934, Etc.

By virtue of and pursuant to the authority vested in me under title I of the National Industrial Recovery Act of June 16, 1933 (ch. 90, 48 Stat. 195), and in order to effectuate the purposes of said title, it is hereby ordered as follows: 1. Any person submitting a bid to any agency or instrumentality of the United States, or any State, municipal, or other public authority, to furnish goods or services at prices which, in accordance with the requirements of one or more approved codes of fair competition, must have been filed, prior to their quotation, with the Code Authority, or other designated agency, shall be held to have complied adequately with the requirements of such code of fair competition: (a) If said bidder shall quote a price or prices not more than 15 percent below his price or prices filed in accordance with the requirements of such code or codes; and (b) if, after the bids are opened, each bidder quoting a price or prices below his filed price or prices shall immediately file a copy of liis bid with the Code Authority or other appropriate agency with which he is required to file prices. 2. If upon complaint made to the Administrator for Industrial Recovery, he shall find, after due investigation, that the tolerance of 15 percent provided in this order is resulting in destructive price cutting in a particular trade or industry, he is hereby authorized to issue an administrative order reducing said tolerance of 15 percent for such trade or industry to the extent he shall find necessary to prevent such destructive price cutting, but in no event to a tolerance of less than 5 percent. 3. The Administrator for Industrial Recovery is directed to cause a study to be made of the effects of this order upon the maintenance of standards of fair competition in sales to public and private customers and to report to the President thereon within six (6) months of the date of this order. 4. All prior Executive orders, including Executive Order No. 6646 of March 14, 1934, are hereby modified insofar as, and to such extent, as they may be in conflict or inconsistent with this order. FRANKLIN D. ROOSEVELT The White House, June 29, 1934.