Roosevelt's New Deal Fiscal Reform Research Paper

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The fear of banking institutions has lasted throughout the generations, and with good reason. Thus, this piece of legislation has remained relevant in order to continue to protect consumers all across the country.

Moreover, the first one hundred days of Roosevelt's term also saw the passing of the Gold Reserve Act. This act severely restricted the amount of gold that was to be owned and sold by Americans. It was passed in January of 1934 ((United States House of Representatives 23). It limited the amount of gold that both private citizens and the Federal Reserve could sell on the private and commercial market. Although passed so long ago, it still stands as viable legislation today. In the modern context, the law limits the amount of gold available to public hands Reserve had to be handed over to the United States Department of the Treasury (Hoizer 1). The law also limited the amount of gold private citizens could posses.

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Directly after the Act was passed, private citizens who owned more gold than they were restricted to were forced to sell their excess to the government. This piece of legislation has survived the generations because it helps keep the gold in the hands of the federal government, rather than in the hands of private citizens who might sell it abroad on a more favorable market. This has helped stabilize the American economy for generations.

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