What did newspapers say about the gold decisions of 1933 and 1971 that day?

"President Roose Roosevelt - velt Roosevelt made a good start when he clamped an embargo on the export of gold."

"The United States has abandoned the gold standard. Presi President - dent President Roosevelt has declared a tight embargo on the export of gold."

"There appear to be three chief purposes in leaving the gold standard. One is to raise domestic commodity prices. One is to remove the disadvantage this country lias in international trade. The third is to give the president a powerful weapon in discussing with the representatives of foreign powers the international"

"Great Britain deserted the gold standard in 1931 and inflation set in. Prices advanced and for a time general conditions of the country improved."

"The United States has now abandoned the gold standard on Its own initiative and hence is in a powerful position to deal with the other nations. Had this country gone into negotiations having to defend and protect the gold standard, the United States would be in an unadvantageous position to bargain."

"J. P. Morgan in one of his rare public statements today endorsed Presi President - dent President Roosevelt’s action in suspend suspending - ing suspending gold exports. “I welcome the reported action of the president,” he said in a written statement, “and the secretary of the tr< s af•’• T 7, placing an embargo on gold exports. ... Therefore. I regard the ac action - tion action now taken as bein"

"With gold exports definitely stopped and the dollar deblining swiftly in terms of other leading currencies, there was a rush in the New York stock exchange, in the Chicago Board of Trade, and other domestic markets to convert funds into shares and commodities."

"He received newspapermen for one of the regular semi-weekly con conierences, - ierences, conierences, however, giving^ them the news of the administration’s deci decision - sion decision on gold."

"Acceptance oi silver in payment of war debts was urged by Senator Carl Hayden (D., Ariz.), in a report laid before the United States senate to today. - day. today. ... “If the central banks of the debtor nations would use silver as a reserve against paper money to the same ex extent - tent extent as that mecal is thus employed in the United States as a safe sub substitute - stitute substitute for "

"It was the first public statement issued by the traditionally reticent head of the House of Morgan since his statement in London in Sep September, - tember, September, 193 L when he described the British suspension of gold payments at that time as constructive, under the circumstances."

"In his article, Lehrman mostly just recounts the meetings that led up to RN’s decision to abandon Bretton Woods, and seems to take it for granted that readers share his view that the action was harmful to the American economy."

"Another article by Detlev Schlichter, in the WSJ’s European edition, places the decision in the context of decisions by governments over the ages to rely on paper money, always (according to Schlichter) with the result of inflation either producing social collapse of a return to hard currency."

"As George Shultz, who was Director of the Office of Management and Budget in August 1971, points out at Forbes.com, had this not been an imminent threat, the President would have instituted the end of Bretton Woods the following month, which might have given the world’s financial structure more time to prepare for changes on so vast a scale."

"A year earlier, in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins."

"The decision to suspend gold convertibility by President Richard Nixon on August 15 1971 was triggered by French and British intentions in early August to convert dollars into gold."

""The President warned again: t hoarding gold- In my opinion a ma i exchanging gold and gold certificate! for currency for hoarding purpose i is jufet as much liable under the Fed Federal - eral Federal law as the person hoarding gold.""

"required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin , gold bullion , and gold certificates owned by them to the Federal Reserve in exchange for $20.67"

"the term "hoarding" means the withdrawal and withholding of gold coin, gold bullion or gold certificates from the recognized and customary channels of trade"

"An embargo was placed on the expor exportation - tation exportation or earmarking of gold, n universal bank holiday to last un until - til until Thursday night was proclaimed."

"until August 15, 1971, when President Richard Nixon announced that the US would no longer value the US dollar with a fixed"

"from Monday, tho sixth day of March, to Thursday, the ninth day of March, nineteen hundred and thirty-three"

"Whereas, there have been heavy and unwarranted withdrawals of gold and currency from our bank banking - ing banking institutions for the purpose of hoarding; and Whereas, continuous and increas increasingly - ingly increasingly extensive speculative activity abroad in foreign exchange has re resulted - sulted resulted in severe drains on the nation’s stock of gold"