On March 3, 1933
Dewitt noted “Cloudy and mild. Fairly good sleighing on most roads. Banks
closed their doors today by order of the governor.” Herbert H. Lehman was
governor, following Franklin D. Roosevelt who had just won the 1932 election to
become the next President of the United States. The governor was acting in
accord with many other states. His actions were a prelude to one of the first
acts by the new President.
President
Roosevelt took office on March 4, 1933. At 1:00 am, Monday, March 6, 1933,
President Roosevelt issued a proclamation ordering the suspension of all
banking transactions, effective immediately. He had taken that oath of office
only thirty-six hours earlier.
The terms of the
presidential proclamation specified that “no such banking institution or branch
shall pay out, export, earmark, or permit the withdrawal or transferring any
manner or by any device whatsoever, nor shall any such banking institution or
branch pay out deposits,
make loans or discount, or transact any other banking business whatsoever.”
For an entire
week, Americans would have no access to banks or banking services. They could
not withdraw or transfer their money, nor could they make deposits.
During that time
congress enacted several new laws, which allowed for the orderly reopening of
the banks and the successful reversal of the runs on banks.
The Wheeler
National Bank of Interlaken reopened on March 15 and moved forward to continue
its place as a strong leader within the community.
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| Interlaken Review March 10, 1933 www.fultonhistory.com |
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| Interlaken Review March 17, 1933 www.fultonhistory.com |
Dewitt’s Diary Monday,
March 6, 1933
Buzzing wood
today up at the woods. Clear and mild. A National closing of the banks by order
of President Roosevelt.
Tuesday, March
14, 1933
A few large
banks opened today.
Wednesday, March
15, 1933
Our bank and
most other banks are open after several days holiday. The president of the US
declared a bank holiday to safeguard the people. 
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