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Description

On March 6, 1933, Franklin D. Roosevelt, less than forty-eight hours after becoming president, ordered the suspension of all banking facilities in the United States. How the nation had reached such a desperate situation and how it responded to the banking “holiday” are examined in this book, the first full-length study of the crisis.

Although the 1920s had witnessed a wave of bank failures, the situation worsened after the 1929 stock market crash, and by the winter of 1932-1933, complete banking collapse threatened much of the nation. President Hoover’s stopgap measures proved totally inadequate, the author shows, and by March 4, the day of Roosevelt’s inauguration, thirty-four states had declared banking moratoriums. Of special interest in this study is Ms. Kennedy’s examination of relations between Herbert Hoover and Franklin D. Roosevelt.

Susan Estabrook Kennedy is assistant professor of history at Temple University in Philadelphia.

Publication Date

1973

Publisher

The University Press of Kentucky

Place of Publication

Lexington, KY

ISBN

9780813152912

eISBN

9780813163307

Keywords

Banking law, Herbert Hoover, FDR, Franklin Delano Roosevelt, United States banking

Disciplines

Economics

The Banking Crisis of 1933
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