Law Commons^™

Constitutional Law - New Deal Legislation - Gold Hoarding Statute

Michigan Law Review

Two cases involving acts of Congress passed in March 1933 to prevent the hoarding of gold' were denied a review by the United States Supreme Court on October 8. Both of these cases involved the same facts. Plaintiff had delivered certain gold bars to a bank for safe-keeping. Later the bank notified him that, pursuant to an executive order by the President of the United States, it would have to surrender the gold. Immediately the plaintiff demanded the return of the bullion, which demand was refused, and he filed bills for specific performance of the bailment contract against the bank …