Dealing with the Great Depression, FDR and the New Deal.
People were in a panic and attempting to get their savings out of the banks. Now banks don't have enough money in house to cover all of people's holdings. People were retrieving their money at such a rate that banks could not cover it, so many went bankrupt. FDR ordered a bank holiday to prevent anymore banks from going bankrupt and that people would lose their savings. He also urged people to keep their money in the banks and also created the FDIC to deal with this problem.
So that way banks weren't foreclosing and he was able to go on the radio and explain the american people that banks were okay. There was no need to panic and going to the bank withdrawing your money. It was safe in there. He helped calm the American nerve
George Herbert Walker Bush already declared a New World Order in 1991.
I had asked this same question three times, and didn't get a proper answer
Franklin D. Roosevelt initiated a National Bank Holiday in his first Hundred Days of office. At the time, the American banking system was in a state of collapse. By 1932, banks were closing at the rate of 40 per day. On 6 March 1932, Roosevelt closed all banks in the country for four days to give Treasury officials time to draft emergency legislation, this was later passed by Congress as the Emergency Banking Relief Act. The aim of the Act was simply to restore confidence in the American banking system. It gave the Treasury power to investigate all banks threatened with collapse while the Reconstruction Finance Corporation was authorised to buy bank stocks in order to support them and save them from collapse by getting rid of their debts. Roosevelt also took this opportunity to make use of his 'fireside chats', using the radio to inform the nation, in language all could understand, the nature of the crisis and how they could all help. The message he passed on to them was simple: place your money in the bank rather than under your matress. And it worked. Banks considered strong enough to reopen were allowed to open and others were reorganised by government officials to put them on a sounder footing. Roosevelt's goal of instilling renewed public confidence in the American banking system worked: by the beginning of April, $1 billion in currency had been returned to bank deposits and the banking crisis that had been affecting the country since the Great Depression was over as well as putting another successful feather in Roosevelt's cap, one of the many factors which would help him to win the hearts of many Americans and their votes which would allow him to the win the 1936 election.
