LYCOS RETRIEVER 
Franklin Delano Roosevelt: New York
built 633 days ago
Franklin Roosevelt was not the type of man who waited for events to happen. In his inaugural address, he swore to bring the nation a New Deal, and backed by a soundly Democratic Congress, he took Washington by storm. Within days of taking office, he closed the remaining banks, avoiding a run on deposits that would have finished them all. He set up a system for judging the soundness of banks and reopened the ones that were solid. He moved to put the government itself on a budget, freeing up federal dollars for relief and reform measures.
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Within a week of his inauguration as President, Franklin D. Roosevelt invokes emergency war powers that effectively suspend the Constitution. Gold is confiscated from private citizens and the new currency is backed by a lien on all property, public and private, in the United States. (remember the land banks?)
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On January 20, 1937, Franklin D. Roosevelt became the first U.S. president sworn into office in January. It was his second of four inaugurations; the first had been held fours years earlier on March 4, 1933. Roosevelt's first inauguration had been shadowed by the onset of the Great Depression—within a week of taking office, the new president had declared a federal bank holiday.
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Roosevelt entered Harvard in 1899, where he was an above average student and devoted a great deal of his time to extracurricular activities. He completed his course work for his B.A. in only three years and returned for the fourth year as editor of the Crimson, the college newspaper. He joined a young Republican club in 1900 in enthusiasm for Theodore Roosevelt, the vice-presidential candidate and his distant cousin. While at Harvard, he fell in love with Anna Eleanor Roosevelt, his fifth cousin once removed. She had had a difficult childhood, being orphaned at the age of ten. She lived with her maternal grandmother and felt rejected and ill at ease in society, thinking herself ugly. When Roosevelt, a handsome Harvard man two years her senior, paid her attention, she was flattered.
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Inaugurated at the height of the Depression, Roosevelt inspired Americans. He launched the “New Deal” instituting social security and unemployment benefits, giving hope to the have-nots and restoring confidence in the government. His public works projects included the Tennessee Valley Authority, the Civilian Conservation Corps, and the Works Progress Administration. Congress, following his lead, sponsored reform measures such as The Federal Deposit Insurance Corporation, which insured deposits and The Securities and Exchange Commission (SEC), which began regulation of the stock exchanges. His mobility hampered by polio, he reached millions by radio in his “fireside chats” while Eleanor tirelessly toured the country.
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Roosevelt won four presidential elections in a row, causing a realignment political scientists call the Fifth Party System. His aggressive use of the federal government re-energized the Democratic Party, creating a New Deal Coalition which dominated American politics until the late 1960s. He and his wife, Eleanor Roosevelt, remain touchstones for modern American liberalism. Conservatives vehemently fought back, but Roosevelt usually prevailed until he tried to pack the Supreme Court in 1937. Thereafter, the new Conservative coalition successfully ended New Deal expansion; during the war it closed most relief programs like the WPA and Civilian Conservation Corps, arguing unemployment had disappeared.
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