Battle's Bank defies FDR Banking Holiday Order
Posted by: 
Shimski
N 42° 00.068 W 080° 19.001
17T E 556590 N 4650127
The Battle's Bank refusal to close during the the banking crash of 1933 brought much national and international attention to the small canal community if Girard, PA.
Waymark Code: WM3DZZ
Location: Pennsylvania, United States
Date Posted: 03/21/2008
Views: 45
"Ten thousand U.S. banks had failed in just four years, and panic was sweeping the country. But newly elected President Franklin Delano Roosevelt faced this epic crisis head-on. To stem the tide of runs and failures, he took immediate and drastic action. By presidential proclamation on March 6, 1933, all U.S. banks were ordered to close their doors for business until further notice-the infamous Bank Holiday.
Vacationing in California, 68-year-old bank president Charlotte Elizabeth Battles received an urgent telegram from her uncle, Charles Webster, asking for instructions. She wired him, "Business as usual." Then she sent a note to FDR, declaring, "Mr. President, we're minding our business, you do the same. Since I do not presume to tell you how to run the country, please do not presume to tell me how to run my bank." The result was national publicity for her little-known community bank, located just west of Erie, Pennsylvania." -New York Times
Pictured is current bank gallery
Type of publication: Newspaper
When was the article reported?: 03/11/1933
Publication: New York Times
Article Url: [Web Link]
Is Registration Required?: no
How widespread was the article reported?: international
News Category: Business/Finance
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