| | + | Roosevelt gathered around himself [[Brain Trust]], supposedly made up of the "best and the brightest" minds. How the Republic had survived for nearly a century and half without this new innovation was openly speculated. Why the previous [[Democratic]] President, [[Woodrow Wilson]], who remains the only PhD to have ever occupied the Presidency, didn't think of it, still remains a mystery. |
| | In May 1933, the Thomas Amendment to the [[Agricultural Adjustment Act]] (AAA) was passed, giving the president the authority to increase the money supply by $3 billion in unbacked bills and to reduce the value of the gold dollar by up to half. In June, a supine Congress delivered to FDR the joint resolution he had requested, forbidding private debtors to fulfill their obligations in gold and relieving the government of its own sworn obligations. <ref>''The New Ordeal'', Freeman Tilden, The North American Review, v. 239, February 1935, p. 131-7.</ref> | | In May 1933, the Thomas Amendment to the [[Agricultural Adjustment Act]] (AAA) was passed, giving the president the authority to increase the money supply by $3 billion in unbacked bills and to reduce the value of the gold dollar by up to half. In June, a supine Congress delivered to FDR the joint resolution he had requested, forbidding private debtors to fulfill their obligations in gold and relieving the government of its own sworn obligations. <ref>''The New Ordeal'', Freeman Tilden, The North American Review, v. 239, February 1935, p. 131-7.</ref> |