FDR First Inauguration

Setting the scene

Franklin D. Roosevelt was inaugurated as the 32nd U.S. president on March 4, 1933, at the depth of the Great Depression. The nation was in crisis—13 million unemployed (25% of workforce), 5,000 banks had failed, and the banking system had collapsed, with 38 states closing banks. Roosevelt's inauguration took place in cold, rainy weather in Washington, with the nation listening by radio. In his inaugural address, Roosevelt declared 'the only thing we have to fear is fear itself,' promising 'action, and action now.'

What happened

Roosevelt's first 100 days were the most productive in American history. He declared a bank holiday on March 6, closing all banks, then pushed through the Emergency Banking Act. He gave his first fireside chat on March 12, explaining banking to the public and restoring confidence. In his first 100 days, Congress passed 15 major bills creating the New Deal: the Civilian Conservation Corps, Agricultural Adjustment Act, Tennessee Valley Authority, and National Industrial Recovery Act. Roosevelt established the modern activist presidency.

Why it still matters

FDR's inauguration marked a turning point in American government, shifting from laissez-faire to active federal intervention in the economy. His New Deal created Social Security, unemployment insurance, bank deposit insurance, and labor protections that remain today. Roosevelt's leadership during the Depression and World War II made him the only president elected four times. His inauguration speech, with its optimism and call for collective action, defined his presidency and restored American confidence. March 4, 1933, marked the beginning of the modern American welfare state and the expansion of presidential power.

Background

The New Deal reshaped American governance.