US Supreme Court upholds restrictions on ownership of gold

The Supreme Court upheld the New Deal in the gold clause cases, led by Chief Justice Hughes. The decision was close, with a 5-4 split, and resulted in a government victory. This decision had mixed reactions; while stocks rose in New York, some, like Norman C. Norman, were unhappy, fearing government control over money value. Senate Leader Robinson expressed satisfaction, believing it would positively impact economic conditions.

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