The Aldrich–Vreeland Act was a United States law passed in response to the Panic of 1907 which established the National Monetary Commission.
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.
The fireside chats were a series of evening radio addresses given by Franklin D. Roosevelt, the 32nd President of the United States, between 1933 and 1944. Roosevelt spoke with familiarity to millions of Americans about recovery from the Great Depression, the promulgation of the Emergency Banking Act in response to the banking crisis, the 1936 recession, New Deal initiatives, and the course of World War II. On radio, he quelled rumors, countered conservative-dominated newspapers, and explained his policies directly to the American people. His tone and demeanor communicated self-assurance during times of despair and uncertainty. Roosevelt was regarded as an effective communicator on radio, and the fireside chats kept him in high public regard throughout his presidency. Their introduction was later described as a "revolutionary experiment with a nascent media platform."
The causes of the Great Depression in the early 20th century in the United States have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises and recessions. The specific economic events that took place during the Great Depression are well established.
Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States." The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933.
This history of central banking in the United States encompasses various bank regulations, from early wildcat banking practices through the present Federal Reserve System.
The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury. It also prohibited the Treasury and financial institutions from redeeming dollar bills for gold, established the Exchange Stabilization Fund under control of the Treasury to control the dollar's value without the assistance of the Federal Reserve, and authorized the president to establish the gold value of the dollar by proclamation.
The Banking Act of 1933 was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms. The entire law is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and Representative Henry B. Steagall (D) of Alabama. The term "Glass–Steagall Act", however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms. That limited meaning of the term is described in the article on Glass–Steagall Legislation.
The history of the United States dollar began with moves by the Founding Fathers of the United States of America to establish a national currency based on the Spanish silver dollar, which had been in use in the North American colonies of the Kingdom of Great Britain for over 100 years prior to the United States Declaration of Independence. The new Congress's Coinage Act of 1792 established the United States dollar as the country's standard unit of money, creating the United States Mint tasked with producing and circulating coinage. Initially defined under a bimetallic standard in terms of a fixed quantity of silver or gold, it formally adopted the gold standard in 1900, and finally eliminated all links to gold in 1971.
In the United States, the Great Depression began with the Wall Street Crash of October 1929 and then spread worldwide. The nadir came in 1931–1933, and recovery came in 1940. The stock market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. Altogether, there was a general loss of confidence in the economic future.
The United States Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913. </ref> https://www.federalreserveeducation.org/about-the-fed/archive-history/#:~:text=1913%3A%20The%20Federal%20Reserve%20System%20is%20Born&text=By%20December%2023%2C%201913%2C%20when,private%20banks%20and%20populist%20sentiment.
The Great Depression (1929–1939) was a severe global economic downturn that affected many countries across the world. It became evident after a sharp decline in stock prices in the United States, leading to a period of economic depression. The economic contagion began around September 1929 and led to the Wall Street stock market crash of 24 October. This crisis marked the start of a prolonged period of economic hardship characterized by high unemployment rates and widespread business failures.
The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1938. Major federal programs and agencies, including the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), the Civil Works Administration (CWA), the Farm Security Administration (FSA), the National Industrial Recovery Act of 1933 (NIRA) and the Social Security Administration (SSA), provided support for farmers, the unemployed, youth, and the elderly. The New Deal included new constraints and safeguards on the banking industry and efforts to re-inflate the economy after prices had fallen sharply. New Deal programs included both laws passed by Congress as well as presidential executive orders during the first term of the presidency of Franklin D. Roosevelt.
The first inauguration of Franklin D. Roosevelt as the 32nd president of the United States was held on Saturday, March 4, 1933, at the East Portico of the United States Capitol in Washington, D.C. This was the 37th inauguration, and marked the commencement of the first term of Franklin D. Roosevelt as president and John Nance Garner as vice president.
The initial economic collapse which resulted in the Great Depression can be divided into two parts: 1929 to mid-1931, and then mid-1931 to 1933. The initial decline lasted from mid-1929 to mid-1931. During this time, most people believed that the decline was merely a bad recession, worse than the recessions that occurred in 1923 and 1927, but not as bad as the Depression of 1920-21. Economic forecasters throughout 1930 optimistically predicted an economic rebound come 1931, and felt vindicated by a stock market rally in the spring of 1930.
The Gold Clause Cases were a series of actions brought before the Supreme Court of the United States, in which the court narrowly upheld the Roosevelt administration's adjustment of the gold standard in response to the Great Depression.
This article details the history of banking in the United States. Banking in the United States is regulated by both the federal and state governments.
The following events occurred in March 1933:
The first 100 days of Franklin D. Roosevelt's presidency began on March 4, 1933, the day Franklin D. Roosevelt was inaugurated as the 32nd president of the United States. He had signaled his intention to move with unprecedented speed to address the problems facing the nation in his inaugural address, declaring: "I am prepared under my constitutional duty to recommend the measures that a stricken nation in the midst of a stricken world may require." Roosevelt's specific priorities at the outset of his presidency were getting Americans back to work, protecting their savings and creating prosperity, providing relief for the sick and elderly, and getting industry and agriculture back on their feet.
The first term of the presidency of Franklin D. Roosevelt began on March 4, 1933, when he was inaugurated as the 32nd president of the United States, and the second term of his presidency ended on January 20, 1941, with his inauguration to a third term. Roosevelt, the Democratic governor of the largest state, New York, took office after defeating incumbent President Herbert Hoover, his Republican opponent in the 1932 presidential election. Roosevelt led the implementation of the New Deal, a series of programs designed to provide relief, recovery, and reform to Americans and the American economy during the Great Depression. He also presided over a realignment that made his New Deal Coalition of labor unions, big city machines, white ethnics, African Americans, and rural white Southerners dominant in national politics until the 1960s and defined modern American liberalism.
