Currency Exchange Rate Quotes



The Hoover administration had lost control of the economy. The nation was in a depression. Banks were failing. Gold was being hoarded and taken out of circulation while we were on the gold standard. Roosevelt’s solution was to decouple American money and gold—a solution that William Jennings Bryan had suggested many years earlier. See {640978}.


What the Prime Minister was trying to say is that the buying power had not been diminished suddenly for local and non-imported items.