Emergency Banking Relief Act:
an act of the US Congress
Started by FDR during the great depression
passed on March 3, 1933
close down banks that are penniless and reorganize those banks strong enough to survive
public on March 9,1933
over 100 democratic members of congress ready to take small steps into addressing to banking failures and as well as other economic issues
4 days after it was started FDR declared a nation wide bank holiday
banks reopened when they were finacially stable
people stood in line to return their cash to the banks that they had hidden
within two weeks, most americans had put more then half of the money back in the banks
Banking Act of 1933:
Established the FDIC
Introduced banking reforms which were designed to control speculation
Effort to curb deflation
Allowed Federal Reserve to regulate interest rates in saving accounts
Music:
Despite going through a depression they still had good music
Woody Guthrie This land is your land
Huddie Ledbetter considered to be the king of the 12 string blues guitar
Jazz, Swing, Big Bands
The jitterbug
Combo Jazz played only for listening
Big Bands 15 to 20 players for listening, dances and parties
Pop
Popular singers The Andrew's Sisters, Gene Autry, Roy Rogers , Shirley Temple
Comments