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It gave the president power to regulate banking transactions and foreign exchange and to reopen solvent banks. President Roosevelt began to give "fireside chats" over the radio in order to restore public confidence of banks.
? Congress then passed the Glass-Steagall Banking Reform Act, creating the Federal Deposit Insurance Corporation (FDIC)...
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A reform program, the FDIC insured individual bank deposits up to $5,000, ending the epidemic of bank failures.
? In order to protect the shrinking gold reserve, President Roosevelt ordered all private holdings of gold to be given to the Treasury in exchange for paper currency and then the nation to be taken off the gold standard?Congress passed laws providing for these measures...
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Chapter 34 Outlines- Baily's
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