[lbo-talk] Sam Smith on the Nov 3rd movement

John Lacny jlacny at earthlink.net
Sat Mar 6 06:08:52 PST 2004


Jon Johanning writes:


> (Actually, I'm reading a book on the 20s-30s which says
> that when FDR was inaugurated every bank in the country
> was closed; I guess that is a bit of an exaggeration.)

No, it's true; he declared a bank holiday to prevent a run on deposits. I don't know how much this is talked about in the history books, but it had an impact on popular consciousness. My own late grandmother, who was a teenager at the time, always talked about how "the first thing Roosevelt did" when he got into office was to shut down all the banks.

- - - - - John Lacny

People of the US, unite and defeat the Bush regime and all its running dogs!



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