June 5 in History

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From Gary Alexander’s “This Day in Market History.”
Adam Smith was born in Scotland on June 5, 1723.
John Maynard Keynes was born in Cambridge on June 5, 1883, exactly 160 years after Smith.
On June 5, 1933, the U.S. Congress officially took America off of the gold standard. Gold’s price was raised by governmental fiat, from $20.67 to $35 per ounce. Gold was forbidden for Americans to own, but the gold mining stocks were fair game and were among the best performers in the 1930s.