The Banking Crisis (RLE Banking & Finance)

CHAPTER IX.—THE BANKS AREREOPENED

THE COUNTRY AT THE CROSSROADS

FEW Administrations indeed in this country have faced such difficult and delicate problems during the first week of their existence as did that of Franklin D. Roosevelt. The parallel with Lincoln's inauguration immediately suggests itself. Then, disunion and civil war faced the country as the President took office. President Roosevelt faced a nation-wide financial collapse of the first magnitude. In both cases the elected representatives of the people rose to the occasion and took decisive action when faced with the gravest problems. It remains to be seen, however, whether our banking problem can be solved as fundamentally and permanently by Roosevelt as were the slavery and states ...