1935
Gold Clause Cases
The Supreme Court upholds the 1933 resolution that voided gold clauses in contracts.
On 5 June 1933 a joint resolution of Congress declared gold clauses against public policy. A promise to pay in gold, or in a sum measured by gold, was to be discharged in legal tender. The Supreme Court upheld that main line in the Gold Clause Cases of 1935.
The official price is already $35, set on 30 January 1934. The public still cannot redeem currency in gold. Private monetary gold remains restricted.