HIST 4060 Chapter : FDR AND THE FIRST HUNDRED DAYS
Document Summary
The week he is inaugurated calls for a banking holiday to stop the withdraw of money out of banks to stem the panic. When hoover does this for the most part people didn"t listen to him. What roosevelt does is before the banking holiday ends, he gets on the radio in the first of what become known as fire side chats. What makes this different is the fact that he is speaking to the people listening to the radio directly before it was just a recording of presidents addressing an audience. In order to be successful, you have to put the money back into the bank. Only by depositing money will the bank have money to progress and improve. The way he explains it and the fact that people believe what he is saying makes all the difference over 1 billion dollars are deposited. For the first time deposits are greater than withdrawals.
