The bank holiday stops the panic
1933 · Event
Two days into his presidency, with the banking system hours from oblivion, Roosevelt closes every bank in America — then explains it on the radio in the first fireside chat, in language a depositor could trust. When the banks reopen, the queues are to put money back in: confidence, conjured by government, on air.
On these timelines: The Great Depression, USA, Economic History, Master
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