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Franklin D. Roosevelt’s Obsession With Oak Island Explained

Years before FDR became president, he invested in The Old Gold Salvage and Wrecking Company, intrigued by their efforts to uncover treasure said to be buried on Oak Island FDR’s interest in the Oak Island mystery began when he was a young man. His grandfather, Warren Delano Jr., who was a noted sailor and wealthy goods and commodities trader, had also financially backed Oak Island ventures, and stories of the treasure and rumored curse passed down through Roosevelt’s affluent family, as Monsters and Critics explains.

Prior to FDR’s involvement, The Old Gold Salvage and Wrecking Company had tried on several occasions to find the storied treasure. In 1909, with FDR’s backing, Bowdoin and his crew continued their Oak Island dig, confident that their modern technology for the time would make some progress. Though they hit a cement barrier, no trace of treasure was ever found. Soon Bowdoin’s agreement to dig on the site ran out and in a disagreement with the treasure trove license holder, Bowdoin and FDR discontinued their excavation, according to the Oak Island Tours website.

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