DailyTimeCapsule brief
September 9, 1933
On September 9, 1933, the U.S. Treasury announced that the new price of gold would be set at $29.62 per ounce, a significant increase of $8.95 over the previous fixed level. This adjustment was made under an order dated August 29, reflecting the government's ongoing response to the economic turmoil of the Great Depression. Amidst a global context marked by rising authoritarian regimes and economic struggles, American officials were focused on stabilizing the economy through gold policies and debt management. The collection of foreign debts was a pressing concern, as the U.S. sought to recover from the financial impacts of the 1929 stock market crash and subsequent economic collapse, which had left millions in despair and uncertainty. This date marked a crucial step in the U.S. government's efforts to regain fiscal control and instill confidence in the economy.
Key developments
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On September 9, 1933, a significant event took place regarding the collection of foreign debts. This event highlighted the complexities and challenges faced by nations dealing with foreign investments during the economic turmoil of the Great Depression. The focus was on strategies to manage and recoup debts owed by foreign entities.
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On September 9, 1933, the U.S. Treasury set the price of new gold at $29.62 per ounce following an order dated August 29. This price was $8.95 above the previously fixed gold level, emphasizing the government's response to economic challenges during the Great Depression. The new pricing aimed to stabilize the economy and increase the value of mined gold.
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Article 8 -- No Title
