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FDR's first 100 days
Included some of the most wide sweeping changes made in American history.
New Deal
Divided into what were called the 3 Rs: Relief, Recovery, Reform.
Relief
Programs that would give immediate help to those most in need (food, shelter, jobs).
Recovery
Programs that would help the economy get back to where it was before the Stock Market Crash (Black Tuesday).
Reform
Programs designed to make sure that another crash never happened again.
Banking Holiday
Ordered by FDR on March 6th, 1933, closing all banks due to a severe banking crisis.
Emergency Banking Act
Legislation sent to Congress on March 9th, 1933, which passed in eight hours.
Sound financial condition
Only banks found to be in this condition by the Treasury Department would be allowed to reopen.
Reorganized banks
Weaker banks would be reorganized under the Emergency Banking Act.
Insolvent banks
Banks that were insolvent would not reopen.
Fireside Chat
The night before the banks reopened, FDR delivered his first chat explaining how banking worked.
$1 billion in hoarded reserves
Amount of cash and gold that returned to the banking system within a month after banks reopened.
FDIC
Created as a result of restored confidence in the banks, stemming from the Banking Holiday and Emergency Banking Act.
Glass-Steagall Act
Another name for the act that led to the creation of the FDIC.
March 6th, 1933
Date when FDR ordered a national 'bank holiday'.
March 9th, 1933
Date when FDR sent new legislation to Congress regarding banking.
