1. March 12, 1933 Fireside Chat on Banking delivered by President Franklin D. Ro

Question

1. March 12, 1933 Fireside Chat on Banking delivered by President Franklin D. Roosevelt: “The Fireside Chat on Banking”.The president blames speculators for creating the banking panic. TRUE or FALSE? Why? Thank you!

2. March 12, 1933 Fireside Chat on Banking delivered by President Franklin D. Roosevelt: “The Fireside Chat on Banking”.The president blames corporations for creating the banking panic. TRUE or FALSE? Why? Thank you!

3.March 12, 1933 Fireside Chat on Banking delivered by President Franklin D. Roosevelt: “The Fireside Chat on Banking”.The President uses the speech to restore the public’s confidence in the banking system.TRUE or FALSE? Why? Thank you!

4. March 12, 1933 Fireside Chat on Banking delivered by President Franklin D. Roosevelt: “The Fireside Chat on Banking”. The President explains the currency is being supplied to banks so that the banks can reopen and meet the demand for currency by depositors. The currency supplied to individual banks is independent of the quality of the bank’s assets. This is to assure the public that no depositor will suffer any losses. FDR emphasizes that the government will absorb all losses rather than depositors. TRUE or FALSE? Why? Thank you!

Explanation / Answer

1. False

2. False

No, The President does not blame speculator or corporations for creating the banking panic during his speech.According to his speech banking panic raise due to undermined confidence of public.Due to this they rush to turn bank deposit into currency or gold.

3. True

Yes,President used the speech to restore the public confidence in banking system. President calms the fears of the nation and outline his plan to restore confidence in the banking system through the first nationwide address, broadcast on radio directly from the White House

4. False

Reserve bank issued additional currency on good assets. It is sound currency because it is backed by actual good assets. President also said, l don't promise you 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.

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