SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933
This paper examines the week-long U.S. bank holiday of 1933, in which President Franklin D. Roosevelt responded to a banking panic by closing all of the banks and promising that the government would review them and reopen only those that were solvent. When the banks reopened the panic was over, as d...
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| Format: | Article |
| Language: | English |
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Economic & Business History Society
2011-06-01
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| Series: | Essays in Economic and Business History |
| Online Access: | https://www.ebhsoc.org/journal/index.php/ebhs/article/view/212 |
| _version_ | 1819024178113675264 |
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| author | Ranjit Dighe |
| author_facet | Ranjit Dighe |
| author_sort | Ranjit Dighe |
| collection | DOAJ |
| description | This paper examines the week-long U.S. bank holiday of 1933, in which President Franklin D. Roosevelt responded to a banking panic by closing all of the banks and promising that the government would review them and reopen only those that were solvent. When the banks reopened the panic was over, as deposits far outstripped withdrawals. This paper provides a detailed look at the bank holiday, with a focus on the review and selective reopening of the banks. It also tries to assess the relative importance of the bank review in rejuvenating public confidence and hence in the overall success of the bank holiday. |
| first_indexed | 2024-12-21T04:50:39Z |
| format | Article |
| id | doaj.art-70dae398847845d39d80680046dbbb59 |
| institution | Directory Open Access Journal |
| issn | 0896-226X |
| language | English |
| last_indexed | 2024-12-21T04:50:39Z |
| publishDate | 2011-06-01 |
| publisher | Economic & Business History Society |
| record_format | Article |
| series | Essays in Economic and Business History |
| spelling | doaj.art-70dae398847845d39d80680046dbbb592022-12-21T19:15:26ZengEconomic & Business History SocietyEssays in Economic and Business History0896-226X2011-06-012914158212SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933Ranjit DigheThis paper examines the week-long U.S. bank holiday of 1933, in which President Franklin D. Roosevelt responded to a banking panic by closing all of the banks and promising that the government would review them and reopen only those that were solvent. When the banks reopened the panic was over, as deposits far outstripped withdrawals. This paper provides a detailed look at the bank holiday, with a focus on the review and selective reopening of the banks. It also tries to assess the relative importance of the bank review in rejuvenating public confidence and hence in the overall success of the bank holiday.https://www.ebhsoc.org/journal/index.php/ebhs/article/view/212 |
| spellingShingle | Ranjit Dighe SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 Essays in Economic and Business History |
| title | SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 |
| title_full | SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 |
| title_fullStr | SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 |
| title_full_unstemmed | SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 |
| title_short | SAVING PRIVATE CAPITALISM: THE U.S. BANK HOLIDAY OF 1933 |
| title_sort | saving private capitalism the u s bank holiday of 1933 |
| url | https://www.ebhsoc.org/journal/index.php/ebhs/article/view/212 |
| work_keys_str_mv | AT ranjitdighe savingprivatecapitalismtheusbankholidayof1933 |