Money: Breaking the Silver Bonds

Sixty-five years after William Jennings Bryan thundered his famous war cry, "You shall not crucify mankind upon a cross of gold," John F. Kennedy finally severed the Democratic Party's emotional ties to silver. Moving to abandon F.D.R.'s 1933 silver-support program. Kennedy last week ordered the Treasury to stop its sales of stockpiled silver at an arbitrary 91¢ an ounce. Simultaneously, the President opened a drive to abolish the practice of backing U.S. currency with silver as well as gold, which was adopted in the early days of the Republic.

Buying Spree. The Government's role in the silver market, which originally was...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!