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Franklin D. Roosevelt's New Deal Programs

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Franklin D. Roosevelt had a few programs of the New Deal. The New Deal program that I have chosen is the Emergency Banking Relief Act. The three things that I am going to talk about are; what the Emergency Banking Relief Act is about, the Great Depression, and the sections. First is what the Emergency Banking Relief Act. On March 9th, 1933, the United States passed this act, the Emergency Banking Relief Act, to help steady the systems of the all of the banks. Franklin D. Roosevelt had confidence in himself that he would be able to fix the banking system, so he did everything he could to fix it. The first thing that Franklin wanted was having a four-day banking holiday, and doing that would shut down the banks. Herbert Hoover …show more content…

In the Emergency Banking Relief Act, had enlarged the powers of the President, Franklin D. Roosevelt. The powers were divided into five titles, and they are; Title One: they expanded the presidential authority during the banking crisis, including transaction in transfers of credit between or payments as defined by Franklin Roosevelt, foreign exchange, and melting, hoarding, earmarking, or export of silver or gold coin. Title Two: giving the comptroller of currency of the power to restrict the operations of a bank with impaired assets, that would take possession of records, books, and the assets of the bank and taking action to conserve the assets of such bank pending further disposition of its business. Title Three: allowing the secretary of the treasury, determining the bank of needing additional funds, so they can operate and have approval of President Roosevelt requesting the Reconstruction Finance Corporation to subscribe to the stock in associations. The State banks make loans securing the stock as collateral. Title Four: allowing Federal Reserve banks converting any US debt obligation into cash or any check, draft, or banker acceptance, into cash at 90% of its value. Allow the Federal Reserve banks to secure loans of any member banks at an interest rate of only 1% of the main discount ratings. Also, allowing Federal Reserve to be able to make loans to anyone up to 90 days, if the loan is secured by a general obligation of the U.S. both fixed the interests rates by the Federal Reserve Banks. Also, giving the Federal Reserve flexibility to point out the emergency currency. Title Five: the appropriation of $20,000,000 to the President of carrying the legislation and making the act effective. The Emergency Relief Banking Act was a big deal in the 1933. Franklin Roosevelt was the one that started the Emergency Relief Banking Act. The reason why the Emergency Relief Banking Act is a big deal is because of the

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