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FDR Reorganizes Banks After Collapse - March 1933

The Emergency Banking Act (EBA), was an act passed by the United States Congress in March 1933 in an attempt to stabilize the banking system.

On March 12, the evening before banks began to reopen, FDR gave his first fireside chat, a national radio address explaining the alterations made by the federal government on the banking industry. Due to confidence in FDR and the proposed alterations, Americans returned $1 billion to bank vaults in the following week.


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