FDR Discusses Emergency Banking Act

The transcript discusses the reopening of banks with a new currency backed by good assets, distributed nationwide. It addresses concerns about state banks not in the Federal Reserve System, ensuring they receive support. The speaker emphasizes the importance of public confidence and courage in overcoming financial fears. A call to action is made for unity in solving financial problems, highlighting that success depends on collective effort.

What is the primary backing for the new currency introduced by the Central Reserve Bank?

• Government bonds

• Foreign investments

• Good assets

• Gold reserves

How will State Banks that are not part of the Federal Reserve System receive support?

• Through international loans

• By issuing more currency

• By increasing interest rates

• From member banks and the Reconstruction Finance Corporation

What is the expected outcome when people realize they can access their money for legitimate purposes?

• A rise in inflation

• A decrease in bank deposits

• The Phantom of Fear will be dispelled

• Increased panic

What is the key message conveyed to the people regarding the financial system?

• To invest in foreign markets

• To rely solely on government support

• To have faith and not be swayed by rumors

• To withdraw all their savings

What are considered essential for the success of the financial plan?

• Strict regulations

• Confidence and courage

• High interest rates

• Government intervention