Video: 'Emergency Legislation: The Bank Holiday'
(Monday, March 6, 1933, 1:00 a.m. EST; during the Great Depression) — Barely 36 hours in office, U.S. President Franklin D. Roosevelt issued Executive Order 2039 early this morning, declaring a nationwide “bank holiday,” effective immediately, temporarily closing every bank in the United States and freezing all financial transactions in order to prevent a run on the banks by consumers lacking confidence in the economy. Continue reading National bank holiday declared by President Franklin D. Roosevelt aimed at calming panicked depositors goes into effect 90 years ago this hour #OnThisDay #OTD (Mar 6 1933)