Executive Order 6102

Executive Order 6102 was an order signed by President Franklin D. Roosevelt in 1933. It made it illegal for any person in the United States to own or trade gold, except for a few exceptions. This was done in order to help the government control the country's money supply and prevent people from taking their money out of the country. It also allowed the government to set the price of gold and make sure it didn't get too high. The order meant that ordinary people could not own gold coins and bullion, which was the most common form of owning gold at that time. Everyone had to turn in their gold to the government and in exchange they got paper money (dollars). It was a very important step for the United States to take in order to help stabilize the economy.