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1933 Bank Holiday Ordered...

Item # 674507

March 09, 1933

THE NEW YORK TIMES, March 9, 1933.

* United States Bank Holiday
* The Great Depression
* Franklin D. Roosevelt

The front page has a nice banner headline: "ROOSEVELT GETS PLEDGE OF NEW CURRENCY LAW TODAY FROM CONGRESS CHIEFS, SO BANKS CAN OPEN TOMORROW; SCRIP PLAN ABANDONED; HOARDED GOLD IS CALLED BACK" with subheads. (see) More on the following pages with related photo. This action would have the desired effect of stopping the panic run on the nation's banks, and happened the day after F.D.R. was inaugurated. One of the more historic issues from the Depression-era.
Complete with all 30 pages, this is the "rag edition" printed on very high quality newsprint meant for institutional holdings. In great condition as such.

wikipedia notes: : The United States Bank Holiday of the Great Depression took place in 1933 when Franklin D. Roosevelt closed the banks from March 6 to March 10 to keep depositors from bankrupting the banking system by withdrawing all their money.

Banks were allowed to reopen when they could prove that the money in their reserves was greater than or equal to the money that had been deposited in. If the banks were unsound they would stay closed or could apply for a government loan in order to keep from declaring bankruptcy.

Category: The 20th Century