My Project topics are Emergency Banking Releif Act/ Bank Holiday and The Main Differences between the second and first New Deal, but so far I've only reserched the Emergency Banking Relief Act/Bank Holiday. Because that is the only one of my topics i have info on, that is what I will be talking about.The Emergency Banking Relief Act was an act of the US Congress started by President Franklin Roosevelt, also known as FDR, during the time of the Great Depression. The Emergency Banking Relief Act was passed on March 3, 1933. The act allowed a plan that would close down banks that are penniless and reorganize/reopen those banks strong enough to survive. THe act was introduced to the public on March 9, 1933, to a session of Congress. The act was actually passed later that same evening, causing over 100 Democratic members of Congress to ready to take small steps into addressing to banking failurs and as well as other economicc weaknesses.Below is a link to the American History Part II Document.1930s: Emergency Banking Relief Act of 1933
According to William L. Silber, the Emergency Banking Relief Act was passd four days after Franklin D. Roosevlt declard a nation wide bank holiday. Also passed was the Federal Reserve’s commitment to provide unlimited amounts of currency to reopened banks. After they had reopned on March 13, 1933, people had stood in line to return their cash they had had carefully hidden. Within about two weeks, most AMericans had had more than half of what they had already had in federal banks put away.
I know that it's not much yet, but I do have more coming. I think that the Emergency Banking Relief Act was a great idea for Congress to pass, because all that money hidden in someone's house, car, wallet, etc., it;s just dangerous! It lowered the crime rate, and now poeple are smarter about their money. And a plus would be intrest. Now the bank is paying you to use their system, and with mor money in your account, the higher the intrest.*Sorry about all of the typos, some of my lettrs on my keypad are not working completely, such as the e and the w.Sources:http://en.wikipedia.org/wiki/Emergency_Banking_Act1930s: Emergency Banking Relief Act of 1933(same as link above, used as well)
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