Throughout our history, presidents have faced crises that have gripped both the nation and the world. In this episode, Association Truman was close to his friends and associates, had a grin for strangers, but could be less Camp David has provided presidents and their families with a recreational retreat from the White House, as well as a Roosevelt was elected to office at the height of the Great Depression.
He ushered in an environment June 28, President Dwight D. Search WHHA - start typing and then listen for common searches like yours. Explore the Initiative. The Sessions Podcast. Have you Ever Wondered How was the location of the White House selected? Which president started the tradition of pardoning the Thanksgiving turkey? Who oversees the White House and the Residence staff?
Have any presidents or first ladies died at the White House? When did the White House first get plumbing? See More Questions. Get in touch. Library of Congress Show Me More. Your browser does not support the audio element. Remember that the essential accomplishment of the new legislation is that it makes it possible for banks more readily to convert their assets into cash than was the case before.
More liberal provision has been made for banks to borrow on these assets at the Reserve Banks and more liberal provision has also been made for issuing currency on the security of those good assets.
This currency is not fiat currency. It is issued only on adequate security -- and every good bank has an abundance of such security.
One more point before I close. There will be, of course, some banks unable to reopen without being reorganized. The new law allows the Government to assist in making these reorganizations quickly and effectively and even allows the Government to subscribe to at least a part of new capital which may be required.
I hope you can see from this elemental recital of what your government is doing that there is nothing complex, or radical in the process. We had a bad banking situation. Some of our bankers had shown themselves either incompetent or dishonest in their handling of the people's funds.
They had used the money entrusted to them in speculations and unwise loans. This was of course not true in the vast majority of our banks but it was true in enough of them to shock the people for a time into a sense of insecurity and to put them into a frame of mind where they did not differentiate, but seemed to assume that the acts of a comparative few had tainted them all.
It was the Government's job to straighten out this situation and do it as quickly as possible -- and the job is being performed. I do not promise you that every bank will be reopened or that individual losses will not be suffered, but there will be no losses that possibly could be avoided; and there would have been more and greater losses had we continued to drift.
I can even promise you salvation for some at least of the sorely pressed banks. We shall be engaged not merely in reopening sound banks but in the creation of sound banks through reorganization. It has been wonderful to me to catch the note of confidence from all over the country.
I can never be sufficiently grateful to the people for the loyal support they have given me in their acceptance of the judgment that has dictated our course, even though all of our processes may not have seemed clear to them. After all there is an element in the readjustment of our financial system more important than currency, more important than gold, and that is the confidence of the people.
Confidence and courage are the essentials of success in carrying out our plan. You people must have faith; you must not be stampeded by rumors or guesses.
Let us unite in banishing fear. We have provided the machinery to restore our financial system; it is up to you to support and make it work. It is your problem no less than it is mine. Together we cannot fail. Grant Rutherford B. Hayes James A. Garfield Chester A. Roosevelt Harry S.
Truman Dwight D. Eisenhower John F. Kennedy Lyndon B. Though today there is almost nothing as ubiquitous as a bottle of Coca-Cola, this was not always the case. For the first several years of its existence, Coke was only available as a fountain drink, and its producer saw no reason for that to change. It was not until March 12, In early , Austrian Nazis conspired for the second time in four years to seize the Austrian government by force and unite their nation with Nazi Germany.
On March 12, , Indian independence leader Mohandas Gandhi begins a defiant march to the sea in protest of the British monopoly on salt, his boldest act of civil disobedience yet against British rule in India.
On this day, the commander of the German Home Army, Gen. Friedrich Fromm, is shot by a firing squad for his part in the July plot to assassinate the Fuhrer. By , many high-ranking German officials had made In response to the critical comments made about him by singer Natalie Maines in the run-up to the invasion of Iraq, President George W. They can say what they want to say.
Sign up now to learn about This Day in History straight from your inbox. On March 12, , a sudden hail storm prompts fans at a soccer match in Kathmandu, Nepal, to flee. The resulting stampede killed at least 70 people and injured hundreds more. Approximately 30, people were watching the game between the Nepalese home team, Janakpur, and
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