“We have had a bad banking situation. Some of our bankers had shown themselves either incompetent or dishonest in their handling of the people’s funds. They had used the money entrusted to them in speculations and unwise loans. This was, of course, not true in the vast majority of our banks, but it was true in enough of them to shock the people of the United States into a sense of insecurity. And so it became the Government’s job to straighten out this situation and do it as quickly as possible. And that job is being performed.”
“After all, there is an element in the readjustment of our financial system more important than currency, more important than gold, and that is the confidence of the people themselves. Confidence and courage are the essentials of success in carrying out our plan. You people must have faith; you must not be stampeded by rumors or guesses. Let us unite in banishing fear. We have provided the machinery to restore our financial system, and it is up to you to support and make it work.”
Franklin Delano Roosevelt — 12 March 1933
On a separate note, the Broadleaf Blog will likely be quiet over the next few days as we take time to prepare our quarterly reports.