Word: hoarder
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Dates: during 1930-1939
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...Senator, defied the Attorney General to take $120 worth of gold he was holding despite the President's anti-hoarding order (TiME, May 15). The Government de clined peppery old Mr. Thomas' invitation to make a test case of his violation. Last week aged, defiant Hoarder Thomas lay ill in his hoary red stone Denver mansion, but he was pleased to know that one member of his family was to go to court to defend what the Thomases believed were their Constitutional right...
...Defendant Campbell the Government picked for this test not only the largest "gold hoarder" on its list but also a respectable lawyer whom Prosecutor Medalie called "exceedingly able." Born in Brooklyn, Mr. Campbell was graduated from Harvard Law School in 1894, is a director of U. S. and British insurance companies, belongs to such swank Manhattan clubs as Union, Metropolitan (where he lives) and Century. When he filed his civil suit against the Chase Bank, he well knew he was inviting the Government to prosecute. His argument in that suit will become his defense in the criminal action...
Corollary to his order permitting export of newly mined gold, President Roosevelt issued at the same time new orders requiring gold hoarders to report their holdings and turn them in-penalty for failure $10,000 fine or ten years in prison. No startling success has been Attorney General Cummings' gold hunt to date. After starting out last June to recover "$500,000,000 of gold in hoarding," he admitted fortnight ago that he had located but $39,000,000. Yet sternly intent remains the President that gold hoarders shall not profit like gold miners by selling their gold abroad...
...orders to his 22 district offices to put every available one of his 350 Government agents on the job. Even the Federal sleuth who for weeks had been guarding the secret records of the Senate Banking & Currency Committee's investigation of J. P. Morgan & Co. was transferred to hoarder-hunting. Investigators marched in upon suspects, flashed their badges, read the President's proclamation aloud, ordered them to disgorge. Of the first 1,838 queried, 95 with gold hoards of $660,601 flatly refused to obey, defied the Government to prosecute. Their names were promptly delivered to the Department...
...into the discard-and economic life went on about the same. Lawyers talked of taking a test case to the Supreme Court but admitted that their chief obstacle lay in proving that a bondholder had been actually damaged by being paid in paper money instead of in gold coin. Hoarders. Up last week also was the time limit set by President Roosevelt for hoarders to return to the Government all their gold holdings above $100 under pain of $10,000 fine and ten years imprisonment. Since March 6 nearly a billion dollars in gold had flowed back to the Treasury...