Executive Order 7097—Inspection of Income, Excess-Profits, and Capital-Stock Tax Returns

By virtue of and pursuant to the authority vested in me by section 257 (a) of the Revenue Act of 1926 (44 Stat. 9, 51); section 55 of the Revenue Act of 1928 (45 Stat. 791, 809); section 55 of the Revenue Act of 1932 (47 Stat. 169, 189), as amended by section 318 (h) of the National Industrial Recovery Act (48 Stat. 195, 209); and section 55 (a) of the Revenue Act of 1934 (48 Stat. 680, 698), it is hereby ordered that income, excess-profits, and capital-stock tax returns made under the Revenue Act of 1934, the National Industrial Recovery Act, the Revenue Act of 1932, as amended by the National Industrial Recovery Act, and the prior revenue acts shall be open to inspection by the Committee on Agriculture and Forestry, United States Senate, or any duly authorized subcommittee thereof, for the purpose of, and to the extent necessary in, the investigation of the causes of the rapid decline in the price of cotton on the cotton exchanges on or about March 11, 1935, which such committee or subcommittee is authorized and directed to make by Senate Resolution 103 (74th Cong.), agreed to March 16, 1935; such inspection to be in accordance and upon compliance with the rules and regulations prescribed by the Secretary of the Treasury and approved by me this date for the inspection by that committee, or an authorized subcommittee thereof, of income and excess-profits tax returns made under the Revenue Act of 1932 on or before the date of the enactment of the National Industrial Recovery Act, and under the prior revenue acts, and capital-stock tax returns made under the National Industrial Recovery Act.

FRANKLIN D. ROOSEVELT

The White House,
July 9, 1935.