On May the Twelfth 1933 president Franklin Delano Roosevelt made the first of what would come to be known as fireside chats. During this chat he spoke to the American people about the recent banking holiday and what actions where to be taken to prevent the banking crisis from worsening. This speech shows Roosevelt's skills as a communicator and his ability to talk to the people in a straightforward manner.
Roosevelt is saying many things in this speech, first and foremost he is re-enforcing the message that there is nothing to fear but fear itself as is shown when he says "It is possible that when the banks resume a very few people who have not recovered from their fear may again begin withdrawals
It needs no prophet to tell you that
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It was then that I issued the proclamation providing for the national bank holiday, and this was the first step in the Government's reconstruction of our financial and economic fabric. The second step, last Thursday, was the legislation promptly and patriotically passed by the Congress confirming my proclamation and broadening my powers so that it became possible in view of the requirement of time to extend the holiday and lift the ban of that holiday gradually in the days to come. This law also gave authority to develop a program of rehabilitation of our banking facilities. And I want to tell our citizens in every part of the Nation that the national Congress -- Republicans and Democrats alike -- showed by this action a devotion to public welfare and a realization of the emergency and the necessity for speed that it is difficult to match in all our history. The third stage has been the series of regulations permitting the banks to continue their functions to take care of the distribution of food and household necessities and the payment of payrolls." Roosevelt took such action because "Your Government does not intend that the history of the past few years shall be repeated. We do not want and will not have another epidemic of bank failures."
Roosevelt s opinion of the bankers was twofold. He thought that some of the bankers were either incompetent or dishonest, and had used the money unwisely making unsafe loans, and investments "Some of our bankers