First inaugural address of Franklin D. Roosevelt

First inaugural address of Franklin D. Roosevelt was delivered by President Franklin D. Roosevelt on Saturday, March 4, 1933, at the East Portico of the United States Capitol in Washington, D.C.. The speech, coming at the lowest point of the Great Depression, was a defining moment in American history, aimed at restoring national confidence. It is most famous for its assertion that "the only thing we have to fear is fear itself," setting the tone for the unprecedented federal activism of the New Deal.

Background and context

The address was delivered during an unprecedented national crisis, with the American economy in a state of collapse following the Wall Street Crash of 1929. Banks were failing in a cascade of bank runs, industrial production had plummeted, and unemployment had reached nearly 25 percent. Roosevelt had decisively defeated incumbent Herbert Hoover in the 1932 United States presidential election, a contest largely seen as a referendum on Hoover's handling of the depression. The interregnum between the election in November and the March inauguration, governed by the since-repealed Twentieth Amendment, saw the crisis deepen, leaving the nation in a state of paralysis and panic. The political atmosphere in Washington, D.C. was one of desperation, with many, including figures like Huey Long, calling for radical action.

Delivery and themes

Roosevelt delivered the address on a cold, overcast day to a massive crowd gathered at the United States Capitol. His delivery, broadcast nationally via radio, was firm and resonant, a stark contrast to the perceived pessimism of the Hoover administration. The central theme was an immediate call to action against the "common difficulties" facing the nation, framed not as a complex economic problem but as a straightforward emergency requiring warlike resolve. He explicitly blamed the crisis on the failures of "the rulers of the exchange of mankind's goods" on Wall Street, whom he accused of incompetence and stubbornness. The speech artfully balanced dire realism with unwavering optimism, promising direct, vigorous leadership from the executive branch and asking for broad executive powers akin to those granted during World War I.

Key passages and analysis

The most enduring passage is the opening declaration: "So, first of all, let me assert my firm belief that the only thing we have to fear is...fear itself." This line, crafted with the help of speechwriter Louis Howe, was a masterstroke of political rhetoric designed to break the national mood of helplessness. Another pivotal section declared a policy of "good neighbor" relations with nations in the Western Hemisphere, a precursor to the Good Neighbor Policy formalized later at the Montevideo Convention. The address is also noted for its call for a "strict supervision of all banking and credits and investments," which foreshadowed the immediate declaration of a national bank holiday and the subsequent passage of the Emergency Banking Act. Roosevelt's assertion that "this Nation asks for action, and action now" served as a direct mandate for the First 100 Days of legislative frenzy.

Public and political reaction

The public reaction was overwhelmingly positive, with millions of Americans hearing a message of hope and decisive leadership for the first time in years. Newspapers like The New York Times reported a palpable shift in the national mood almost immediately. Politically, the speech successfully rallied a nervous Congress, which would soon grant Roosevelt extraordinary powers to combat the depression. While some conservatives, such as former President Calvin Coolidge, expressed private concerns about the expansion of federal power, the overwhelming sentiment, even among many Republicans, was relief. Internationally, the address was closely monitored by leaders like Adolf Hitler in Germany and Winston Churchill in Britain, who recognized the arrival of a significant new figure on the world stage.

Historical significance and legacy

The address is universally regarded as one of the most important presidential speeches in American history, marking the definitive end of the laissez-faire era and the beginning of the modern federal government's central role in the economy. It established the rhetorical foundation for the New Deal coalition and reshaped public expectations of the presidency. The phrase "nothing to fear but fear itself" has entered the global lexicon as a symbol of resilience in crisis. Scholars often compare its impact to that of Abraham Lincoln's Gettysburg Address for its redefinition of national purpose. The speech's call for executive authority also set important precedents for later presidents during national emergencies, from World War II to the September 11 attacks.

Category:Inaugurations of Franklin D. Roosevelt Category:1933 in Washington, D.C. Category:1933 documents Category:Presidential inaugural addresses of the United States