Introduction
I have chosen the First Inaugural Address of Franklin D. Roosevelt (1933) as a primary source connected to the Great Depression. The Bank Holiday that occurred soon after FDR’s inauguration is primarily related to this speech. The American public valued the Bank Holiday, which FDR announced a few days after entering office since it attempted to strengthen the shaky financial system that was in danger of collapsing altogether. To regain public trust and stop more bank runs, the government might audit and restructure the banks by temporarily stopping all banking operations.
Speech Analysis
FDR’s inaugural speech established the tone for his presidency, making it historically crucial for the Great Depression. FDR wanted to comfort the American people despite the economic upheaval. His well-known statement, “The only thing we have to fear is fear itself,” exuded optimism and hope (First Inaugural Address of Franklin D. Roosevelt, 1933, para. 1). He appealed for action and togetherness despite the widespread dread and despair, offering the country a sense of direction and will to get through the crisis.
The nation’s mental and emotional condition during the Great Depression is revealed in FDR’s inauguration speech. It emphasizes how crucial it is to have strong leadership that can encourage individuals and instill confidence. The speech makes clear FDR’s resolve to address the financial difficulties the American people are suffering, as well as his intention to take drastic, unheard-of action to remedy the situation. However, despite being a strong call to action, FDR’s inauguration speech omits essential information regarding the Bank Holiday and the specifics of the government’s plan to address the economic crisis.
Conclusion
In summary, the more excellent background of the Great Depression is intrinsically tied to FDR’s First Inaugural Address and the ensuing Bank Holiday. The speech emphasized the value of unity and leadership in times of crisis, and the Bank Holiday played a crucial role in bringing the financial system back under control and reviving public trust. When taken together, they signaled the start of a new phase of government economic involvement and attempts to lessen the consequences of the Great Depression.
Reference
First inaugural address of Franklin D. Roosevelt. (1933). Web.