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Home > Joe's Daily U.S. History Lesson > Joe's Daily U.S. History Lesson -- June 5
Podcast: Joe's Daily U.S. History Lesson
Episode:

Joe's Daily U.S. History Lesson -- June 5
Category: Education
Duration: 00:05:41
Publish Date: 2018-05-29 20:01:41
Description:

JUNE 5 -- 1933 FDR takes U.S. off gold standard; 1864 Battle of Piedmont; 1888 Grover cleveland nominated for Democratic Party; 1958 Johnny Mathis gets #1 album; 1944 Pre D-Day

JUNE 5 1933 – FDR takes United States off fold standard ...aNd congress enacts a joint resolution nullifying the right of creditors to demand payment in gold. The US had been on a gold standard since 1879, with the exception for an embargo on gold exports during WWI, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy unsustainable.

This is a discussion that could go on for days; some argue that this ended the Great Depression, while others believe that’s got n nothing to do with ending the great depression. Some believe in Keynesian theories and others believe we should end the Federal Reserve. Yet others became libertarians.

I’ll just leave it at that for now.

In civil war news…

1864 – Union routs Rebels at the battle of Piedmont. David Hunter for the Union v Grumble5 Jones for the CSA. The result? Yankee victory.

Actually, the first real victory for the Union for the Shenandoah campaign. General Grant had just took over command of Union forces, and directed Franz Sigel in the Battle of new Market. But Sigel got his butt handed to him, and was replaced by Hunter.

After serious fighting, Union Col. Joseph Thoburn’s men struck the flank of Jone’s force, and the Confederate line began falling apart. Jones and his men retreated, but the retreat turned into a rout.

Jones was killed on the way out with a bullet to the head. About 1000 Confederate men including 60 or so officers were captured, and almost 1600 men lost their lives. The Union lost about 850.

The next day, Hunter would march into Staunton, and move on to Lexington, then Lynchburg, destroying military stores along the way.
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