Video: 'FDR Ends Gold Standard in 1933'

(Wednesday, April 19, 1933; during the Great Depression) — President Franklin D. Roosevelt took the United States off the gold standard today by ordering that gold exports to other nations be halted. The effect would be to devalue the U.S. dollar by 36% (against gold-backed currencies) over the next eight months. However, the Dow Jones Industrial Average had increased by 55% on July 18, 1933.