Four-day national banking holiday
03/04/1933 AD decreed
Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation's banking system and to stabilize America's banking system. On March 6 he declared a four-day national banking holiday that kept all banks shut until Congress could act.
During this time the federal government would inspect all banks, re-open those that were sufficiently solvent, re-organize those that could be saved, and close those that were beyond repair. To inspire confidence about the reforms initiated FDR gave one of his first "fireside chats" explaining the alterations made by the federal government on the banking industry.
Due to confidence in FDR and the proposed alterations Americans returned 1 billion dollars to bank vaults in the following week.
Lattitude: 38.9072° N
Longitude: 77.0369° W
Region: North America
Modern Day United States
Subjects Who or What decreed?
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Franklin Delano Roosevelt (FDR) 32nd President of ...
Objects To Whom or What was decreed?
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