Whereas an act of Congress entitled “An Act To provide emergency financing facilities for financial institutions, to aid in financing agriculture, commerce, and industry, and for other purposes,” approved by the President on the 22d of January, 1932, as amended by an act of Congress entitled “An Act To relieve destitution, to broaden the lending powers of the Reconstruction Finance Corporation, and to create employment by providing for and expediting a public-works program,” approved by the President on the 21st of July, 1932, contains in section 5 thereof the following provision concerning the powers of the Reconstruction Finance Corporation:
“The corporation may make loans under this section at any time prior to the expiration of one year from the date of the enactment hereof; and the President may from time to time postpone such date of expiration for such additional period or periods as he may deem necessary, not to exceed two years from the date of the enactment hereof.”
And Whereas I, Herbert Hoover, President of the United States of America, acting under and by virtue of the authority conferred upon me by section 5 of said act of Congress, do hereby declare and proclaim that the Reconstruction Finance Corporation may make loans under the provisions of section 5 of said act at any time prior to the 22d day of January 1934.
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 this eighth day of December in the year of our Lord nineteen hundred and thirty-two, and of the Independence of the United States of America the one hundred and fifty-seventh.
Herbert Hoover