Executive Order 6608—Amendment of Executive Order No. 3761 Relating to Interest on Deposit Money Orders

Executive Order No. 3761 of December 6, 1922, relating to interest on deposit money orders issued in the Canal Zone, is hereby amended to read as follows:

By virtue of and pursuant to authority vested in me by section 2 of the act of February 16, 1933 (ch. 89, 47 Stat. 812), the following regulations are hereby prescribed:

1. Deposit money orders issued by the Canal Zone Postal Service on or after April 1, 1934, shall bear interest at the rate of five eighths of 1 per centum for each period of 3 full calendar months from date of issue. Interest shall be payable when the order is paid but shall not accrue for more than 3 years.

2. Deposit money orders issued by the Canal Zone Postal Service prior to April 1, 1934, shall bear interest at the rate of three fourths of 1 per centum from date of issue for any period or periods of 3 full calendar months ending between April 1, 1934, and June 30, 1934, inclusive. For subsequent periods the rate of interest shall be the same as that provided in the preceding paragraph of this order.

3. On all deposit money orders interest shall be payable when the orders are paid but shall not accrue for more than 3 years.

4. The Governor of the Panama Canal is hereby authorized to prescribe such detailed rules and regulations as may be necessary to carry out this order.

FRANKLIN D. ROOSEVELT

The White House,
February 20, 1934.