Why was the Emergency Banking Act during Franklin Delano Roosevelt's presidency the first legislation passed by Roosevelt and Congress?
The above response is completely incorrect, but out of respect I won't delete it. The Emergency Banking Act (which was signed by Congress in 38 minutes without any of them act…ually getting a chance to read it, and amended the Trading With The Enemy Act of 1917) allowed FDR to have unlimited power during times of war or a declared national emergency. Those powers could not be taken away unless the President decided that the national emergency was over. He declared the Great Depression to be a national emergency, abused the Act which was supposed to only be used during wartime, and never ended the national emergency. As of today (Oct. 15, 2008), that national emergency is still in effect and the President still has dictatorial powers over America. Resource: Senate Report 93-549 and others The emergency banking act was signed because FDR addressed that he would fix the banking crisis, so he passed the act and because many banks closed and many people lost their life savings the act gave banks the opportunity to reopen after the gov. found them to be financially secure. (MORE)