This Day in History March 5, 1933

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Things were pretty bad during the Great Depression, and on this date in 1933, President Franklin Roosevelt declared that there would be a bank holiday on the following day.  What that meant was that all bank transactions would be suspended for four days.  This was a necessary thing because only fifty percent of banks were even holding on at this point.  This was FDR's first full day in office, by the way.

For more information:
http://www.tennessean.com/article/20130305/OPINION04/303050045/FDR-s-bank-holiday-set-stage-reform?nclick_check=1
http://www.livinghistoryfarm.org/farminginthe30s/money_08.html