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Friday, February 10, 2017

1933 | The President Assumes ‘Dictatorial’ Powers. Quickly.

Tumultuous? Definitely.

Busiest? That depends.

President Trump certainly stirred a whirlwind in his first 10 days. But it wasn’t unprecedented. Take a look at the front pages from the first 10 days of Franklin D. Roosevelt’s presidency in 1933, beginning with his speech on March 4 (the last time a swearing-in was held on that date).

“The inaugural address was a Jacksonian speech, a fighting speech, implicit with criticism of the lack of leadership and the philosophy of government which the president imputed to his predecessor, who sat there listening,” Arthur Krock, the Washington bureau chief of The Times, wrote in his account.

“ ‘Action’ was the promise of Mr. Roosevelt’s speech, and action was immediately forthcoming,” Mr. Krock stated.

Before his second full day in office was over, President Roosevelt had suspended all banking transactions in the United States. The goal was to stanch the hoarding of currency and gold by anxious depositors. Runs on the nation’s banks had pushed them into or near collapse.

History calls it a “bank holiday.” That makes it sound cheerful. No confetti was involved.

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