[Sacajaweau]

Still trying to figure out how he had the power to outlaw gold.

[hanamizu]

Still trying to figure out how he had the power to outlaw gold.

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Good point. He declared an economic emergency and issued an executive order. The penalty for not turning in the gold was a $10,000 (roughly a quarter million in today’s money)fine and up to 10 years in prison. Many weren’t willing to resist such draconian punishments.

It was, of course, outright theft and was resented by many for the rest of their lives. In my father’s family, gold coins were birthday or anniversary presents meant to be kept and cherished (as well as a financial asset). FDR was both the most beloved and reviled President in his time, but the majority were in the former group and the minority in the latter.