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The program for social security now pending before

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The program for social security now pending before the Congress is a necessarypart of the future unemployment relief... We must begin now to make provision forthe future. That is why our social security program is an important part of thecomplete picture. It proposes, by means of old-age pensions, to help those whohave reached the age of retirement to give up their jobs, and thus give to theyounger generation greater opportunities for work, and to give to all a feeling ofsecurity as they look toward old age.Excerpt fromFDR FiresideChat -April 14, 1935... I try not to forget that what really counts at the bottom of it all is that the men andwomen willing to work can have a decent job—a decent job to take care ofthemselves and their homes and their children adequately; that the farmer, thefactory worker, the storekeeper, the gas station man, the manufacturer, themerchant—big and small... that all of these can be sure of a reasonable profit andsafety for the earnings that they make....I can hear your unspoken wonder as towhere we are headed in this troubled world. I cannot expect all of the people tounderstand all of the people’s problems, but it is my job to try to understand all ofthe problems.Bank Suspensions - Document Analysis
Contextualization:Bank Suspensions:Includes all banks closed to the public, either temporarily orpermanently, because the bank is having financial difficulties; sometimes these difficulties happenedwhen many citizens pulled their money out of banks because they were afraid that the banks would fail,or because the bank simply failed and loaned out too much money without taking enough in (partiallycaused by high unemployment).YearNumber of Bank Suspensions192965919301352193122941932145619334004Source: Bank suspensions are from U.S. Bureau of the Census, Historical Statistics of the United States, U.S. Government Printing Office,Washington, D.C., 1960Excerpt from FDR Fireside Chat about Banking Crisis - March 12, 1933I want to talk for a few minutes with the people of the United States about banking... I want to tellyou what has been done in the last few days, why it was done and what the next steps are going tobe....First of all, let me state the simple fact that when you deposit money in a bank, the bank does notput the money into a safe deposit vault. It invests your money in many different forms of creditbonds, commercial paper, mortgages and many other kinds of loans. In other words, the bank putsyour money to work to keep the wheels of industry turning around. A comparatively small part of themoney you put into the bank is kept in currency—an amount which in normal times is whollysufficient to cover the cash needs of the average citizen. In other words, the total amount of all thecurrency in the country is only a small fraction of the total deposits in all of the banks.

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Term
Fall
Professor
Mr. Pugliese

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