nov 3, 1936 - Political Realignment in the Election of 1936

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As soon as FDR was inaugurated, he set about creating his "New Deal" (He didn't have a plan going in, but instead relied on his "brain trust" of advisors.)

The EBA was an act that declared a 4-day bank holiday starting on March 6th, during which ALL business of banks across the nation would be paused. Meanwhile, government officials inspected the banks - reopening those that could pay their debts, reorganizing some, and closing others.

It was meant to restore American confidence in the banking system.

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