USA HISTORY

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THE GREAT DEPRESSION 1929 1940

THE GREAT DEPRESSION

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
“I want to talk for a few minutes with the people of the United States about banking-with the comparatively few who understand the mechanics of banking ____ I want to tell you what has been done in the last few days, why it was done, and what the next steps are going to be ____ FDR 1933The excerpt above is a brief example of how Franklin Roosevelt sought to reassure the American public during uncertain economic times. This is an example of
A
a radio speech known as a fireside chat
B
a speech at a weekly town hall meeting for concerned citizens
C
a weekly news editorial titled “The Road to Prosperity & Peace”
D
a short movie clip played in a movie theater before the premier
Explanation: 

Detailed explanation-1: -Roosevelt explained the banking system in five sentences. He pointed out that “when you deposit money in a bank, the bank does not put the money into a safe deposit vault.” In-stead, he said, “. . . the bank puts your money to work to keep the wheels of industry and of agriculture turning around.”

Detailed explanation-2: -Roosevelt continued to use fireside chats throughout his presidency to address the fears and concerns of the American people as well as to inform them of the positions and actions taken by the U.S. government.

Detailed explanation-3: -The new law allows the twelve Federal Reserve Banks to issue additional currency on good assets and thus the banks that reopen will be able to meet every legitimate call. The new currency is being sent out by the Bureau of Engraving and Printing to every part of the country.”

Detailed explanation-4: -The purpose of the EBRA was to provide economic relief and support to banks. It increased the regulatory power of the president of the United States over financial institutions.

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