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Finalized by President Franklin D. Roosevelt on March 9, 1933, the legislation ended up being directed at restoring general public self- self- confidence when you look at the nation’s economic climate after a bank holiday that is weeklong.

“The crisis banking legislation passed away by the Congress today is really a many constructive action toward the perfect solution is associated with economic and banking problems which may have confronted the nation. The rapidity that is extraordinary which this legislation ended up being enacted by the Congress heartens and encourages the nation. ” – Secretary of this Treasury William Woodin, March 9, 1933 “i will guarantee you that it’s safer to help keep your profit a reopened bank...

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