How did the early new deal legislation attempt to achieve the three goals of relief, recovery, and reform?
FDR first act as President was to issue a proclamation declaring a four-day "bank holiday" throughout the nation. Then FDR gets a willing Congress to pass the Emergency Banking Act, giving FDR broad powers over banks and foreign exchange. After the bank holiday ends banks can reopen when they prove that they are solvent. Within three days, 1000 banks will reopen.
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