A Brief History of Deposit Insurance in the United States

A Brief History of Deposit Insurance in the United States These words were spoken by President Franklin D Roosevelt in his first fireside chat to the people of the United States on March In announcing an end to the bank holiday he had proclaimed six

These words were spoken by President Franklin D Roosevelt in his first fireside chat to the people of the United States on March 12, 1933 In announcing an end to the bank holiday he had proclaimed six days earlier, President Roosevelt was exhorting the people to remain calm and avoid the panicked withdrawals that had crippled the nation s banking system in the first moThese words were spoken by President Franklin D Roosevelt in his first fireside chat to the people of the United States on March 12, 1933 In announcing an end to the bank holiday he had proclaimed six days earlier, President Roosevelt was exhorting the people to remain calm and avoid the panicked withdrawals that had crippled the nation s banking system in the first months of 1933 However, despite the federal government s newly adopted plans to reorganize many closed but viable banks, some 4,000 banks that had closed earlier in 1933 or during the bank holiday never reopened.