he Banking Crisis.doc
《he Banking Crisis.doc》由会员分享,可在线阅读,更多相关《he Banking Crisis.doc(19页珍藏版)》请在三一文库上搜索。
1、-范文最新推荐- he Banking Crisis franklin delano roosevelt: first fireside chatthe banking crisismy friends:i want to talk for a few minutes with the people of the united states about banking - to talk with the comparatively few who understand the mechanics of banking, but more particularly with the overw
2、helming majority of you who use banks for the making of deposits and the drawing of checks.i want to tell you what has been done in the last few days, and why it was done, and what the next steps are going to be. i recognize that the many proclamations from state capitols and from washington, the le
3、gislation, the treasury regulations, and so forth, couched for the most part in banking and legal terms, out to be explained for the benefit of the average citizen. i owe this, in particular, because of the fortitude and the good temper with which everybody has accepted the inconvenience and hardshi
4、ps of the banking holiday. and i know that when you understand what we in washington have been about, i shall continue to have your cooperation as fully as i have had your sympathy and your help during the past week.first of all, let me state the simple fact that when you deposit money in a bank, th
5、e bank does not put the money into a safe deposit vault. it invests your money in many different forms of credit - in bonds, in commercial paper, in mortgages and in many other kinds of loans. in other words, the bank puts your money to work to keep the wheels of industry and of agriculture turning
6、around. a comparatively small part of the money that you put into the bank is kept in currency - an amount which in normal times is wholly sufficient to cover the cash needs of the average citizen. in other words, the total amount of all the currency in the country is only a comparatively small prop
7、ortion of the total deposits in all the banks of the country.what, then, happened during the last few days of february and the first few days of march? because of undermined confidence on the part of the public, there was a general rush by a large portion of our population to turn bank deposits into
8、 currency or gold - a rush so great that the soundest banks couldn't get enough currency to meet the demand. the reason for this was that on the spur of the moment it was, of course, impossible to sell perfectly sound assets of a bank and convert them into cash, except at panic prices far below
9、their real value. by the afternoon of march third, a week ago last friday, scarcely a bank in the country was open to do business. proclamations closing them, in whole or in part, had been issued by the governors in almost all the states. it was then that i issued the proclamation providing for the
10、national bank holiday, and this was the first step in the government¡¯s reconstruction of our financial and economic fabric.the second step, last thursday, was the legislation promptly and patriotically passed by the congress confirming my proclamation and broadening my powers so that it
11、became possible in view of the requirement of time to extend the holiday and lift the ban of that holiday gradually in the days to come. this law also gave authority to develop a program of rehabilitation of our banking facilities. and i want to tell our citizens in every part of the nation that the
12、 national congress - republicans and democrats alike - showed by this action a devotion to public welfare and a realization of the emergency and the necessity for speed that it is difficult to match in all our history.the third stage has been the series of regulations permitting the banks to continu
13、e their functions to take care of the distribution of food and household necessities and the payment of payrolls.this bank holiday, while resulting in many cases in great inconvenience, is affording us the opportunity to supply the currency necessary to meet the situation. remember that no sound ban
14、k is a dollar worse off than it was when it closed its doors last week. neither is any bank which may turn out not to be in a position for immediate opening. the new law allows the twelve federal reserve banks to issue additional currency on good assets and thus the banks that reopen will be able to
15、 meet every legitimate call. the new currency is being sent out by the bureau of engraving and printing in large volume to every part of the country. it is sound currency because it is backed by actual, good assets.another question you will ask is this: why are all the banks not to be reopened at th
16、e same time? the answer is simple and i know you will understand it: your government does not intend that the history of the past few years shall be repeated. we do not want and will not have another epidemic of bank failures.as a result, we start tomorrow, monday, with the opening of banks in the t
17、welve federal reserve bank cities - those banks, which on first examination by the treasury, have already been found to be all right. that will be followed on tuesday by the resumption of all other functions by banks already found to be sound in cities where there are recognized clearing houses. tha
18、t means about two hundred and fifty cities of the united states. in other words, we are moving as fast as the mechanics of the situation will allow us.on wednesday and succeeding days, banks in smaller places all through the country will resume business, subject, of course, to the government's p
19、hysical ability to complete its survey it is necessary that the reopening of banks be extended over a period in order to permit the banks to make applications for the necessary loans, to obtain currency needed to meet their requirements, and to enable the government to make common sense checkups.ple
20、ase let me make it clear to you that if your bank does not open the first day you are by no means justified in believing that it will not open. a bank that opens on one of the subsequent days is in exactly the same status as the bank that opens tomorrow.i know that many people are worrying about sta
21、te banks that are not members of the federal reserve system. there is no occasion for that worry. these banks can and will receive assistance from member banks and from the reconstruction finance corporation. and, of course, they are under the immediate control of the state banking authorities. thes
22、e state banks are following the same course as the national banks except that they get their licenses to resume business from the state authorities, and these authorities have been asked by the secretary of the treasury to permit their good banks to open up on the same schedule as the national banks
23、. and so i am confident that the state banking departments will be as careful as the national government in the policy relating to the opening of banks and will follow the same broad theory.it is possible that when the banks resume a very few people who have not recovered from their fear may again b
24、egin withdrawals. let me make it clear to you that the banks will take care of all needs, except, of course, the hysterical demands of hoarders, and it is my belief that hoarding during the past week has become an exceedingly unfashionable pastime in every part of our nation. it needs no prophet to
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- he Banking Crisis
链接地址:https://www.31doc.com/p-1770588.html