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American default : the untold story of FDR, the Supreme Court, and the battle over gold /

"The untold story of how FDR did the unthinkable to save the American economy. The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression,...

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Bibliographic Details
Main Authors: Edwards, Sebastian, 1953
Published: Princeton University Press,
Publisher Address: Princeton, New Jersey :
Publication Dates: [2018]
Literature type: Book
Language: English
Subjects:
New Deal, 1933-1939
Depreciation > United States > History > 20th century
Default Finance
Summary: "The untold story of how FDR did the unthinkable to save the American economy. The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the U.S. dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America's history. Sebastian Edwards provides a compelling account of the economic and legal drama that embroiled a nation already reeling from globa
Carrier Form: xxxiii, 252 pages : illustrations ; 25 cm
Bibliography: Includes bibliographical references (pages [235]-242) and index.
ISBN: 9780691161884 (hardcover : alkaline paper) :
0691161887 (hardcover : alkaline paper)
Index Number: HC106
CLC: F171.295
Call Number: F171.295/E268
Contents: Gold and the professors -- A tragic disaster -- The quest for money -- A national calamity -- Moderate inflation Is necessary and desirable -- A transfer of wealth to the debtor class -- The gold clause Is gone -- A London interlude -- Order in place of chaos -- The gold-buying program -- The path to the supreme court -- Nine old men and gold -- Embarrassment and confusion -- The waiting game -- The decisions, at last -- Consequences -- Could it happen again?

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