On March 14 1933, Inauguration Day, all U.S. banks were ordered to close at the end of the 4th bank panic. The U.S. Treasury didn’t have enough money to pay every government worker. Roosevelt, in the hope to address the country's economic problem, created a four day bank holiday and fireside chats. The four day bank holiday was created for the closing of all banks so Congress could pass reform legislation and reopen the banks. The fireside chat was created to boosts America's confidence by having Roosevelt talk to the public by radio. During Roosevelt's first 100 days in office, his administration passed legislation that aimed to bring up production and create jobs. The Federal Deposit Insurance Corporation was created to protect depositors accounts, while the Securities and exchange Commission was created to keep an eye on the stock market and prevent another Great Depression. Tennessee Valley Authority and Works Project Administration created jobs, employing 8.5 million citizens.
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it is a new deal