In March 1933 President Roosevelt suspended gold payments. In June 1933 Congress adopted joint Resolution No. 10 voiding all contracts to pay in gold. Last week, more than a year later, a Federal court passed for the first time on the legality of the Government's action.
Thirty-one years ago the Iron Mountain Railroad (now part of the Missouri Pacific) floated a 30-year bond issue with the promise to repay the bonds when due in U. S. gold coin "of the present standard of weight and fineness." In May 1933 when the bonds were...
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