how did fdr reform banking, finance and government revenue during the first 100 days?
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By Sadie Kiefer & Jeremiah Forehand. How did FDR reform banking, finance and government revenue during the first 100 days?. Problem by 1933. Widespread banking failure Cash reserve depleted Banks unable to imburse investors. Results of bank failure. No more trust in banks - PowerPoint PPT PresentationTRANSCRIPT
By Sadie Kiefer & Jeremiah Forehand
Widespread banking failure
Cash reserve depleted
Banks unable to imburse investors
No more trust in banks
Unreliable cash circulation
March 5th, 1933 declared bank holiday
Congress Passed Emergency Bankning Relief Act
Treasury Dep. inspects banks
Insolvent banks
Self-Sufficient banks
Established FDIC
Federal Securities Act-banks liable for misrepresentations (May 1933)
Securities Exchange Commission- prevented people “rigging” in stock market
Bank Failure- cash reserve depleated
Emergency Banking Relief Act- Treasury inspected banks
FDIC- federal insurance for accounts of less than $5,000
$ Problems of G.D.
Avg. People Stock Investors
Too much creditpayments
Stock Market Crash
Banks fold
Lost jobs
Lack of self-sufficiency
Unable to imburse people with $
Lost jobsDebt, home foreclosures
1. Who was the ‘new’ role forced to be involved with nations economy, as a result of laws passed in FDR’s first 100 days?
2. What were two reasons why Roosevelt declared a bank holiday?
1. Who was the ‘new’ role forced to be involved with nations economy, as a result of laws passed in FDR’s first 100 days?
The federal government (e.g., FDIC & SEC)
2. What were two reasons why Roosevelt declared a bank holiday?
1. To prevent further withdrawals2. To pave the way for actions necessary in the emergency banking relief act