Executive Order 11110

Executive Order 11110

Executive Order 11110 was issued by President John F. Kennedy on June 4, 1963.

This executive order allows the U.S. Secretary of the Treasury to issue silver certificates against silver bullion based on authority delegated by the President to the Secretary under the Thomas Amendment to the Agricultural Adjustment Act.


The Order was for the Treasury to issue silver certificates against all silver held by the government which did not already have certificates against it. The Order was needed due to the passage of Public Law 88-36 which repealed the Silver Purchase Act and other related monetary measures. One result was that after the repeals, only the President could issue new silver certificates.

The Federal Reserve System could replace the certificates, but only in larger denominations. The thrust of the Order returned the authority to issue new silver certificates (and specify denominations) back to the U.S. Treasury.

This executive order allowed for the Federal Reserve System to distribute and exchange currency at lower denominations that met the growing economic need. The authoritative basis for the Order was substantially nullified in 1982 with the passage of Public Law 97-258.

The Order was never directly reversed. However, Section 1(j) of Executive Order 10289, which was added by Section 1(a) of Executive Order 11110, was revoked when Ronald Reagan signed Executive Order 12608 in 1987. [http://www.reagan.utexas.edu/archives/speeches/1987/090987f.htm]

ee also

Related topics
* Bimetallism -- using more than one metal in a reserve banking system
* Silver standard -- as opposed to a strict Gold Standard

External links

* [http://www.presidency.ucsb.edu/ws/index.php?pid=59049&st=&st1= John F. Kennedy: Executive Order 11110]
* [http://www.archives.gov/federal-register/executive-orders/1963-kennedy.html Executive Orders Disposition Tables, John F. Kennedy - 1963]
* [http://www.archives.gov/federal-register/codification/executive-order/10289.html Codification of EO 10289 at the National Archives]

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • List of United States federal executive orders — The following is an incomplete list of United States federal executive orders. At the federal level of government in the United States, laws are made almost exclusively by legislation. Such legislation originates as an Act of Congress passed by… …   Wikipedia

  • Доллар Джона Кеннеди — Банкнота казначейства США номиналом 5 долларов серии 1963 г …   Википедия

  • Kennedy assassination conspiracy theories — There are many conspiracy theories regarding the assassination of United States President John F. Kennedy on November 22, 1963. Such theories began to be generated soon after his death and continue to be proposed today. Many of these theories… …   Wikipedia

  • Monetary sovereignty — A state is generally considered monetarily sovereign to the extent that it retains the following legal rights[1][2]: The right of legal tender to choose which currencies are acceptable as legal tender for payment of taxes and other legal debts.… …   Wikipedia

  • Federal Reserve System — FRB and FED redirect here. For other uses, see FRB (disambiguation) and FED (disambiguation). Federal Reserve System …   Wikipedia

  • John F. Kennedy assassination conspiracy theories — President Kennedy, Jackie Kennedy, Nellie Connally and Governor John Connally, shortly before the assassination. There has long been suspicion of a government cover up of information about the assassination of John F. Kennedy on November 22, 1963 …   Wikipedia

  • 1963 — This article is about the year 1963. For other uses, see 1963 (disambiguation). Millennium: 2nd millennium Centuries: 19th century – 20th century – 21st century Decades: 1930s  1940s  1950s  – 1 …   Wikipedia

  • Currency Wars — For a discussion of competitive devaluation, see Currency war. For James G. Rickard s Currency Wars: The Making of the Next Global Crisis, see James G. Rickards. Currency Wars   …   Wikipedia

  • Silver standard — The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. The silver standard was widespread until the 19th century, when it was replaced in most countries by the gold standard.Ancient… …   Wikipedia

  • Attentat auf JFK — Bei einem Attentat kam am 22. November 1963 John F. Kennedy, der 35. Präsident der Vereinigten Staaten von Amerika, in Dallas ums Leben. Knapp eineinhalb Stunden nach dem Attentat wurde Lee Harvey Oswald als Verdächtiger in einem Kino verhaftet… …   Deutsch Wikipedia