FDR: “It is not exaggerating the possibility to tell you that such an…”

On the record

It is not exaggerating the possibility to tell you that such an occurrence might well have taken from us the major part of our gold reserve and resulted in such a further weakening of our government and private credit as to bring on actual panic conditions and the complete stoppage of the wheels of industry.

Said by

FDR

Democratic · New York

Source

gutenberg.org

Editor's note · Context

Roosevelt warns about the potential panic and economic collapse due to a loss of gold reserves.

Share on X Share on Facebook Email this quote

FDR: “It is not exaggerating the possibility to tell you that such an occurrence might well have taken from us the major part…”

Editor's note · Context