apr 20, 1933 - FDR takes US
off gold standard
(Apr 1933)
Description:
Ordered all private holdings of hold to be surrendered to Treasury in exchange for paper currency; Took nation off gold standard; Emergency Congress responded to recommendation by cancelling gold-payment clause in all contracts, authorized repayment in paper $$
FDR managed currency by buying gold from treasury at inflated prices, stopped buying gold (Feb 1924), returned US to limited gold standard for int'l trade
Added to timeline:
Unit 3 (APUSH II)
Date:
