What happened in the banking industry in the years leading up to 1933? Bank failures were staying about the samedeclining✔ increasing.
How many banks failed in 1933?1,0002,500✔ 4,000
If you said something like “take out all of my money,” you are like most Americans who lived during the Depression.What problems were created as more and more Americans removed their money from the banks? Check all of the boxes that apply.
Before 1933, what happened to customers’ deposits if a bank failed?
Who is the audience for this speech?wealthy bankers✔ ordinary consumersforeign diplomats
What would you predict the purpose of this speech to be?
How would you characterize the mood of the American people who listened to the fireside chats?
Write a brief, two-paragraph response to the president’s fireside chat. Discuss whether you think his speech was effective, and why or why not. Use details from the reading to support your conclusion.
President Franklin D. Roosevelt’s fireside chat was highly effective because it used simple, direct language to restore public confidence in the banking system. By explaining the banking crisis in terms that the average citizen could understand, he demystified a complex financial issue. He admitted that there had been a rush to withdraw funds, which caused the bank holiday, but he reassured listeners that their money would be safer in a reopened bank than under their mattresses. This conversational and calm tone helped reduce the panic that had gripped the nation during the Great Depression. Furthermore, the speech was effective because it framed the recovery as a partnership between the government and the people. Roosevelt’s closing appeal for support and his promise that the banks would be managed for the benefit of the community provided a sense of security. By the time the banks reopened, the public’s response was overwhelmingly positive, as evidenced by the fact that deposits exceeded withdrawals. This direct link between his words and the restoration of the financial system proves the success of his communication strategy.
What would you do if you feared your bank was about to fail?
If I feared my bank was about to fail, I would likely try to withdraw my funds as quickly as possible to protect my savings. This reaction is what typically causes a bank run. However, in modern times, I would also check if my deposits were protected by the FDIC, which insures deposits up to a certain amount, providing a safety net that prevents the need for a panic-driven withdrawal.
Which of these words best describes the tone of this speech?✔ conversationalformalangry
What challenges did President Roosevelt face as he tried to win over the American public? Check all of the boxes that apply.
Which of the following did you include in your answer? Check all of the boxes that apply.a clearly stated opinion on the effectiveness of the speechclearly stated reasons for that opinionevidence and details from the fireside chat to support that conclusionidentification of specific events that occurred during the Great Depression in support of the conclusion
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