The Only Thing We Have To Fear Itself Analysis

Roosevelt did many things during the banking holiday in order to restore the banks to order. "By the afternoon of March third, a week ago last Friday, scarcely a bank in the country was open to do business can best

The first inaugural address of Franklin D. Roosevelt was one that strove to lift the American people off their feet as the country entered some of it's worst years during the Great Depression. One of Roosevelt's strong advantages during his address was his ability to relate to the very real concerns of the everyday American citizens. With pressures of the failing economy facing the President-elect, he delivered this speech, addressing the nation about his plans for a New Deal. Roosevelt made his first point in his address by stating, “...the only thing we have to fear is fear itself.” This statement later became one of the most famous Presidential lines in all of history. The purpose of this statement was to remind the nation that for this

Faced with this economic decline, came other factors that included unemployment and lack of confidence in banks (Church 100). Restoring faith in banks across the United States was one goal for FDR. As depositors lost confidence in the national bank, over $1,000,000,000 was taken out in cash and hoarded (Boardman 64). The Emergency Banking Act closed all banks for four straight days, and put them under inspection by the national government (Schraff 52). Banks were put under meticulous scrutiny by the Treasury Department. The U.S. government demanded that all hoarded gold be returned and all of the $1,000,000,000 was deposited (Boardman 65). Banks were allowed to open only under a strict system of licensing (Schraff 52). Another banking program was The Federal Deposit Insurance Corporation, or FDIC, which was created by Congress to guarantee deposits up to $5000 (Gupta). In the case

Almost immediately after taking office, Roosevelt called on Congress to convene and began what would be known as the Hundred Days, which lasted until June 16, 1933. On March 6 Roosevelt called a nationwide bank holiday, and on March 9 Congress passed the Emergency Banking Act, which provided for federal bank inspections. In the summer of 1933, the Glass-Steagle Act set much more stringent rules

president to be elected four times, Franklin D. Roosevelt led a strong presidency and overcame multiple challenges throughout his terms. The banking crisis in which the banking sector had undergone a meltdown leading up to the closure of approximately 11,000 banks was the immediate challenge Roosevelt encountered after his inauguration on March 4, 1933. Widespread fear and panic was caused among the people who had lost their life savings overnight. Another large challenge that Roosevelt faced was the lost faith of the people. The American population had lost total faith in government and were faced with questions based on its capacity to make sound economic and financial decisions. At this point he had to create a means of installing the lost confidence of the people that was caused mainly by the depression. Through President Roosevelt's New Deal, the people were reassured that everything was going to be okay and even though the political, social, and economic situation was desperate, he was going to continue to protect them in all means necessary. Prior to his election, Roosevelt was vacationing in Canada and was diagnosed as having contracted polio. Originally it was difficult for him to accept that he was permanently paralyzed, so he tried multiple therapies to enhance his performance and did almost anything to find a cure. Despite all of his hard work and dedication, he never regained the use of his legs. Over the next several years, he worked to improve his physical and political image. He did this by only using a wheelchair when he was not in public and by walking short distances with braces on his legs. He worked through his illness and never let it affect the way he ran the country; always putting his people before himself. Despite all of the roadblocks that Franklin D. Roosevelt may have encountered, he forged through and accomplished many amazing

When Franklin D. Roosevelt was elected to his first term as president of the United States in 1932, America was in a severe depression. When Franklin Roosevelt took office in March of 1933, President Hoover handed the problems of the Great Depression over to Roosevelt. Upon taking office, Franklin Roosevelt issued a bank holiday which forced all banks to close from March 6 to March 10 while he met with Congress to pass the Emergency Banking Act to allow banks with enough money to reopen and for the Federal Government to help the banks that did not have enough money (A Bank). This act was a prerequisite to many other programs that would develop under Franklin D. Roosevelt’s administration. Under

Two days after taking office, Roosevelt issued a proclamation closing all American banks for four days until Congress could meet in special session to consider banking-reform legislation. So great was the panic about bank failures that the "bank holiday," as the president euphemistically described it, created a general sense of relief. Three days later, Roosevelt sent to Congress the Emergency Banking Act, a generally conservative bill designed primarily to protect the larger banks from being dragged down by the weakness of smaller ones. The bill provided for Treasury Department inspection of all banks before they would be allowed to reopen, for federal assistance to some troubled institutions, and for a thorough reorganization of those in the greatest difficulty.

The day after his inauguration he right away took decisive action by proclaiming a Bank Holiday and on March 9th Congress passes Roosevelt’s Emergency Banking Act, putting brakes on the continuing of collapsing banks. By the the end of the month almost 3 quarters of them had reopened. For the next eight years, the government created a series of projects and programs, known as the New Deal. The New Deal had the overarching goal of restoring dignity and prosperity to many people, and change the federal government. FDR’s bold initiatives likewise set the stage for the growth of American power to superpower

Roosevelt in 1933. In this speech he explained to the average citizen what happened with the banking crisis, why it happened, and how the government was going to fix it. He explained in the commoner’s vernacular the system in which banks invest a large majority of money people deposit and keep only a small amount in currency. It is normally plentiful for the needs of the community, but when people had started distrusting the banks and rushed to get their money out, the banks weren’t able to meet the rushed demand. By the 3rd of March hardly any banks were open for business and to explain how the government had stopped the problem from escalating President Roosevelt commented “It was then that I issued the proclamation providing for the national bank holiday, and this was the first step in the Government’s reconstruction of our financial and economic fabric.” (Roosevelt) This shows how they had began to fix the problem, and tells why all of the banks were closed. The second step in repairing the economy was to extend the bank holiday which was to be lifted gradually as different bank facilities were being rehabilitated. The bank holiday was put into effect because it provided the time that was needed to for banks to be able to supply needed currency. Roosevelt reassured people that none of the banks were worse off than they were

This quotation means to me that they are scared of responsibility. In the quotation from Timo Cruz, he says, “Our deepest fear is that we are powerful beyond measure… Your playing small does not serve the world.” There is a saying which goes, “With great power comes great responsibility.” They are not scared of the power they have, but of the responsibilities and expectations that come with possessing power. The amount of work they put in currently will not be good enough while they are in possession of such great power. They are scared of not being able to meet those expectations so they play it safe. They do not allow themselves to go above and beyond what is expected of them. They let themselves and others believe the only thing they are

FDR begged for people not to take their money out of the banks and to just trust him. “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself (pg. 90).

His intent was to calm the public as he addressed them nationally. He advised them of the reasoning and rationale as to why the government made the decision to close all banks. He explained that government’s purpose was to gain an understanding of the banking system and stabilize the banking industry, so that their money would be safe and they could feel secure about their personal finances. He advised them when the banks would be reopened, and most importantly he stressed that only banks supported by the federal government and were deemed to be solvent and were backed by the Federal Reserve Bank would be reopened. He also explained that not all banks would reopened at the same time. The new administration had a daunting task to provide financial security for all of the nation’s banks. He reassured the public that eventually they would have access to their money. He stressed to them that their money was now safer in a bank then stuffed in a mattresses or in a tin can hidden in their yard. FDRs assurance that he was in control combined with his speaking voice calmed a nation that had never experienced anything like the Great

In the novel Things Fall Apart by Chinua Achebe, the theme of the power of fear

To start of the novel Fear, by Gabriel Chevallier, Jean Dartemont is in France observing all the civilians celebrate the start of the new war. He criticizes their behavior and strongly disapproves, however, he admits a curiosity in him that convinces him to volunteer for the war for it will be a ‘remarkable spectacle.” After being approved to go to war, Dartemont heads to a training camp. There he becomes a private after failing to become an officer. Here he commands a group, but realized he finds the maintenance of soldiers to be tedious and useless work. Already he becomes quite eager to arrive at the front lines, which soon happens.

Roosevelt acted quickly, ordering all banks to stay closed for four days whilst he tried to convince the public to put an end to withdrawing their money and return the money they had already taken out. He also established the Security Act, which forced all banks to provide full public information and only allowing the trustworthy banks to reopen. He then gave grants to these banks so that they could pay back debts and would no longer have to risk the prospect of becoming bankrupt as they once again opened. Possibly the hardest hit group of people in American society by the Great Depression were the farmers.