thank you for joining us. it is good to have you here. when we get a new president in this country or when we get a president re-elected for a new term, that president is inoculated. he or someday she is sworn in to start a new presidential term in january. that is why it is always so cold. january 20 is when it happens. that has only been true since the 1930s. up until the 1930s, presidents did not get inaugurated in january. they waited another two months and didn t get inaugurated until march. last time a president got inaugurated on the old day in march was march 4, 1933. that was one president franklin delano roosevelt cuts one in for the first time. that was also the last time we as a country would have to wait that whole four months after the election before we left the new president take over. after we had that first inauguration in march, 1933, we moved the date earlier and back to january. we actually had to amend the united states constitution in order to make
great depression. during the term of the previous president, republican herbert hoover, disastrous presidency in economic terms. doing his time in office, there was a series of thinking panic. people made runs on banks. in 1932, there was a really big surge in bank failures in the west and midwest. there started to be a national panic. in 1932 when the national panic was taking hold in individual states, they started to and bank holidays. nevada was the first who did it, but other states like michigan followed suit and individual states started to holidays. they started declaring that they would be closed on specific days and basically stop people from rushing in and pulling all of the deposits and collapsing. doing that state-by-state and