When Congress convened, the House of Representatives unanimously passed the Emergency Banking Relief Act after only 38 minutes of debate.
The senate approved the bill later that evening and Roosevelt signed it into effect.
The new law required federal examiners to survey the nations banks and issue Treasury Department licenses to those that were financially sound.
On March 12 President Roosevelt addressed the nation by radio and 60 million people listened to this first of many “fireside chats”, direct talks in which Roosevelt let the America an people know what he was trying to accomplish.
He assured the people that their money would be secure if they put it back into the banks.
When the banks opened the day after the speech, deposits far outweighed withdrawals and the banking crises was over.