In Video: Gold Standard Historical Moments

Franklin D. Roosevelt Ends Gold Standard in 1933

Friday, February 24, 1933

Franklin D. Roosevelt effectively abandoned the gold standard after Herbert Hoover’s presidency, when the gold standard was the basis of the US currency.

Our international trade relations though vastly important are secondary to the establishment of a sound national economy.

—FDR, 1933

Franklin D Roosevelt acted on this pledge and abandoned the gold standard six weeks later on April 19, 1933.