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The Banking Crisis of 1933
Paperback
AccountingEconomics20th Century United States History
ISBN13: 9780813152912
Publisher: University Press of Kentucky
Published: Jul 15 2014
Pages: 280
Weight: 0.92
Height: 0.64 Width: 6.00 Depth: 9.00
Language: English
On March 6, 1933, Franklin D. Roosevelt, less than forty-eight hours after becoming president, ordered the suspension of all banking facilities in the United States. How the nation had reached such a desperate situation and how it responded to the banking holiday are examined in this book, the first full-length study of the crisis.
Although the 1920s had witnessed a wave of bank failures, the situation worsened after the 1929 stock market crash, and by the winter of 1932-1933, complete banking collapse threatened much of the nation. President Hoover's stopgap measures proved totally inadequate, the author shows, and by March 4, the day of Roosevelt's inauguration, thirty-four states had declared banking moratoriums. Of special interest in this study is Ms. Kennedy's examination of relations between Herbert Hoover and Franklin D. Roosevelt.
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