Work in progress — cycles are added one at a time. Every quote is machine-verified against an archived source; follow the links to read it.

1936 › Franklin D. Roosevelt (Democratic) › Gold standard and currency basis

A permanently sound currency stabilized against wide fluctuations

pledge_forwarddirectional_stanceparty_platformevidence A Money, Currency & Credit similar solutions · similar reasoning

Solution

Maintain the managed dollar of 1934 ('the soundest currency in the world') and stabilize it to prevent the former swings that injured debtors and creditors in turn.

Rationale

Wide fluctuations 'injured in turn producers, debtors, and property owners on the one hand, and wage-earners and creditors on the other.'

Position chain: A sound currency preserved at all hazards

Statements (2)

1936-06-25 · Democratic National Convention, Philadelphia (platform) · conventionparty_platform ✓ verified

We approve the objective of a permanently sound currency so stabilized as to prevent the former wide fluctuations in value which injured in turn producers, debtors, and property owners on the one hand, and wage-earners and creditors on the other, a currency which will permit full utilization of the country's resources. We assert that today we have the soundest currency in the world.

Source: 1936 Democratic Party Platform (1936-06-23)

1936-10-14 · Chicago · generalparty_platform ✓ verified

By our monetary policy we have kept prices up and lightened the burden of debt. It is easier to get credit. It is easier to repay.

Source: Address at Chicago, Ill. (1936-10-14)

Follow-through

kept

The dollar's gold value was not changed after 1934; the Tripartite Agreement with Britain and France (Sept. 1936) and the stabilization fund kept exchange rates orderly; the greenback and silver powers were not used to inflate.

Assessments

kept Franklin D. Roosevelt — Annual Message to Congress

No devaluation and no inflationary issue occurred in the second term.

Other positions on this issue

A sound currency preserved at all hazards — Franklin D. Roosevelt, 1932 specific_pledge
Hold the gold standard and the 'honest dollar'; no fiat money, no 'rubber dollar' price-fixing — Herbert Hoover, 1932 specific_pledge
Sound currency 'at all hazards'; no further devaluation; repeal the laws delegating the money power to the Executive — Alf Landon, 1936 specific_pledge

1936-fdr-sound-stabilized-currency · created by claude-fable-5-1 · review: unreviewed