Franklin D. Roosevelt
Appearances
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
And this was the first step in the government's reconstruction of our financial and economic fabric. The second step, last Thursday, was the legislation promptly and patriotically passed by the Congress
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
confirming my proclamation and broadening my powers so that it became possible in view of the requirement of time to extend the holiday and lift the ban of that holiday gradually in the days to come. This bank holiday, while resulting in many cases in great inconvenience, is affording us the opportunity to supply the currency necessary to meet the situation.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
Remember that no sound bank is a dollar worse off than it was when it closed its doors last week. Your government does not intend that the history of the past few years shall be repeated. We do not want and will not have another epidemic of bank failures. It has been wonderful to me to catch the note of confidence from all over the country.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
I can never be sufficiently grateful to the people for the loyal support that they have given me in their acceptance of the judgment that has dictated our course. even though all our processes may not have seemed clear to them.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
After all, there is an element in the readjustment of our financial system more important than currency, more important than gold, and that is the confidence of the people themselves. Confidence and courage are the essentials of success in carrying out our plan. You people must have faith. You must not be stampeded by rumors or guesses. Let us unite in banishing fear.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
We have provided the machinery to restore our financial system, and it is up to you to support and make it work. It is your problem, my friend, your problem no less than it is mine. Together, we cannot fail.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
My friend. I want to talk for a few minutes with the people of the United States about banking. And I know that when you understand what we in Washington have been about, I shall continue to have your cooperation as fully as I have had your sympathy and your help during the past week.
History That Doesn't Suck
174: The First “First Hundred Days:” FDR Kicks Off the New Deal
Because of undermined confidence on the part of the public, there was a general rush by a large portion of our population to turn bank deposits into currency or gold. a rush so great that the soundest banks couldn't get enough currency to meet the demand. It was then that I issued the proclamation providing for the national bank holiday.