The Emergency Banking Act and Gold Confiscation of 1933 (HOM 34-A)

History of Money, Lecture 34, Pt. A: a look at the banking holiday ordered by FDR in March 1933, followed by Executive Order 6102, which outlawed the private possession of more than five ounces of gold, codified by Congress (together with a devaluation of the dollar) with the Gold Reserve Act in 1934. With this latter act, Roosevelt altered the price of gold from $20.67 an ounce to $35. How effect were these moves in countering the Great Depression?
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Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Associate Director of the Center for American Institutions at Arizona State University.
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