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Did Franklin D. Roosevelt confiscate gold during the great depression?
Wiki User
∙ 13y ago
With the Presidential Executive Order 6102 of April 5 1933, Roosevelt did indeed order the confiscation of gold, bullion, gold certificates, etc and forced people to exchange their gold for paper money.
Wiki User
∙ 13y ago
Yes, in 1933, Franklin D. Roosevelt signed an executive order that required private citizens to turn in their gold coins, bars, and certificates to the government in exchange for paper currency at the prevailing rate of $20.67 per ounce. This move was part of an effort to stabilize the banking system and stimulate the economy during the Great Depression. The government then raised the price of gold to $35 per ounce in 1934, effectively devaluing the dollar.
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Herbert Hoover and Franklin Roosevelt were the presidents during the great depression.
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Franklin D. Roosevelt
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Herbert Hoover and Franklin Roosevelt were presidents during the Great Depression.
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President Franklin D. Roosevelt.
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president Franklin D. Roosevelt
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Franklin Delano Roosevelt .
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