Nothing to Fear

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Franklin Delano Roosevelt faced extraordinary economic challenges when he assumed the presidency of the United States in March 1933. The nation was stuck in a seemingly endless depression, unemployment stood at 25 percent, and many governors had declared "bank holidays" to prevent bank closings.

Roosevelt promised "bold, consistent experimentation" and said that his policy would be to "try something and if that doesn't work, try something else."

He meant it. In just 100 days, his new administration advanced a series of initiatives that gave the federal government a direct role in managing the economy. The steps he took during this brief period permanently …