Measures During the Depression

When FDR took office, about 4,000 banks had collapsed and one in every four workers was unemployed, as a December 19, 2008, New York Times article noted. Asset prices had collapsed, foreclosure activity had skyrocketed, and credit had virtually frozen. FDR’s immediate goals were to restore people’s confidence in the banking and financial system and provide near-term relief to the unemployed. Immediately following his inauguration in March 1933, FDR embarked on what came to be known as his “first 100 days,” a phrase still used when a new president takes office.
In those early days of his presidency, FDR enacted a number of measures designed to stabilize the financial system. As he took office, FDR declared a four-day ...

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