Gold Bondholders Protective Council, Inc. v. United States

In this unusual case, we are required to determine the impact on plaintiffs claim of Chief Justice Charles Evans Hughes’ historic opinion in one of the Gold Clause decisions:1 Perry v. United States, 294 U.S. 330 (1935).

Plaintiff, a Delaware corporation, is the owner of a $50 4-1/4% Gold Liberty Bond of 1933-38, which was issued October 24,1918. The bond provided that the United States would pay the principal and interest in gold coin "of the present standard of value” upon presentation by the bearer to the Treasurer of the United States on or after October 15, 1938. On April 2, 1981,…