Which in effect caused those citizens who turned

Reference no: EM133637496

Question: During the first administration of President Franklin Roosevelt, all American citizens were required to turn over to the federal government whatever gold coins they possessed (except for those that formed part of systematic coin collections) and to accept paper money in exchange. The price of gold coins has been generally rising ever since, which in effect caused those citizens who turned in their coins to lose money by the process. Was this demand on the part of the federal government a form of taxation? Why or why not?

Reference no: EM133637496

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