Franklin D. Roosevelt, Silver, and China.

Article OPEN
Friedman, Milton;
  • Journal: Journal of Political Economy,volume 100,issue 1 February,pages62-83
  • Related identifiers: doi: 10.1086/261807

The silver purchase program, initiated by Franklin Roosevelt in late 1933 in response to the economically small but politically potent silver bloc, gave a large short-run subsidy to silver producers at the cost of destroying any long-run monetary role for silver. More i... View more
Share - Bookmark