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Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."
The Gold Clause Cases were a series of actions brought before the Supreme Court of the United States, in which the court narrowly upheld the Roosevelt administration's adjustment of the gold standard in response to the Great Depression.
Joan Blondell and Etta Moten Barnett sing the song "Remember My Forgotten Man" in the climactic sequence of the film Gold Diggers of 1933, with scenes of mass unemployment. [7] In the film My Man Godfrey (1936) a Boston Brahmin is mistaken for a tramp when frivolous socialites are looking for a "forgotten man" in a scavenger hunt.
President Roosevelt was challenged to decrease unemployment, raise wages and increase the money supply, but was restricted in doing so by the United States' strict adherence to the gold standard. [3] The Gold Reserve Act, which banned the export of gold, restricted the ownership of gold and halted the convertibility of paper money into gold ...
Upon taking office in March 1933, U.S. President Franklin D. Roosevelt departed from the gold standard. [58] By the end of 1932, the gold standard had been abandoned as a global monetary system. [58] Czechoslovakia, Belgium, France, the Netherlands and Switzerland abandoned the gold standard in the mid-1930s. [58]
After the realigning 1932 United States elections following the onset of the Great Depression, the gold standard was abandoned from March 1933, and the Act abrogated, by a coordinated series of policy changes including executive orders by President Franklin D. Roosevelt, [5] new laws, [6] and U.S. Supreme Court rulings known as the Gold Clause ...
The Agricultural Adjustment Act included the Thomas Amendment, a provision that allowed the president to reduce the gold content of the dollar, to coin silver dollars, and issue $3 billion in fiat money not backed by gold or silver. In April 1933, Roosevelt took the United States off the gold standard. [65]
Executive Order 6814 closely mirrors Executive Order 6102, which FDR signed on April 5, 1933, "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States" with some differences.