FDR's First 100 Days and the New Deal

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.