Primarily this is bec

osevelt was inaugurated March 4, 1933 (32 days after Hitler was appointed Chancellor of Germany), the U.S. was at the nadir of the worst depression in its history. A quarter of the workforce was unemployed. Farmers were in deep trouble as prices fell by 60%. Industrial production had fallen by more than half since 1929. Two million were homeless. By the evening of March 4, 32 of the 48 states, as well as the District of Columbia had closed their banks.[65] The New York Federal Reserve Bank was unable to open on the 5th, as huge sums had been withdrawn by panicky customers in previous days.[66] Beginning with his inauguration address, Roosevelt began blaming the economic crisis on bankers and financiers, the quest for profit, and the self-interest basis of capitalism:
“ Primarily this is bec

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