1 Answer | Add Yours
Franklin Delano Roosevelt (1882-1945) was inaugurated as President on March 4, 1933. The very next day, he issued Proclamation 2038, which convened an Emergency Session of Congress, which met on March 9th. From that date until June 16th, fifteen legislative proposals were enacted into law in what has become known as "The First Hundred Days." However, on March 6th, he issued Proclamation 2039, in which he declared a "Bank Holiday," which shut down the banking industry for several days. Additionally, by this proclamation, he effectively took the United States off the gold standard by forbidding bank transactions in gold, supposedly deriving his authority to do so by invoking provisions of the Trading With the Enemy Act of 1917.
We’ve answered 320,004 questions. We can answer yours, too.Ask a question