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The following ought to be verified by other people, because I have no evidence of this at all. However, in the early days of the New Deal they called in all the outstanding gold. Everybody whose father had given him a five dollar gold piece when he was ten years old and had kept it in the safe deposit box ever since, or in the bottom drawer, was asked to bring it in. They did. They brought them in in great quantities. All kinds of gold was brought in - foreign pieces and everything else. I've forgotten how much came into the banks, but it was a very large amount on voluntary compliance with the President's invitation because they were going to build up our money values and stabilize our money which was in terrible condition in '33.

At this time Henry Morgenthau was not the Secretary of the Treasury, but he was in the Farm Credit Administration. He was working with George Warren. He was very much under the guidance of Warren in economic matters. I think that Henry Morgenthau and Warren were sometimes in on conferences. I was not in on conferences on money, but I would be present merely because it had been at a Cabinet meeting. I know that Dan Roper was there on one occasion, because he just smiled, puckered up his eyes and laughed, saying, “I guess that could be true, Mr. President.” The President was at these conferences.