Word: louisiana
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Dates: during 1930-1939
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Perhaps you will be amused at the real facts surrounding the selection of A. G. Newmyer, general manager of the New Orleans Item-Tribune, of the excuse for Louisiana's "Historic Saturday" (TIME, Feb. 13). Here's what happened...
Thus as had happened in Nevada last autumn, in Louisiana last fortnight, a banking moratorium was proclaimed this week in Michigan. It shut tight for eight days 530 banks with some $1,500,000,000 in deposits, was the biggest moratorium since the Depression...
Thus last week for the first time in history the anniversary of the day that President Wilson gave German Ambassador Count von Bernstorff his walking papers was officially observed. Though no "proper ceremonies" were held anywhere in Louisiana, the proclamation closed every bank in New Orleans, brought business to a standstill.* And it thereby stopped (as it was intended it should) a run on New Orleans' $65,000,000 Hibernia Bank & Trust Co.-third largest bank in the city. To New Orleans it was the fantastic second act of a drama that opened last month with the crash...
...therefore, I, Oscar Kelly Allen, Governor of the State of Louisiana, do hereby ordain that Saturday, the 4th day of February, 1933 . . . be a holiday throughout the State . . . and I do hereby order that all public business, including schools, banks and other public enterprises be suspended . . . and that the proper ceremonies to commemorate that event be held...
...Because the proclamation did not reach them until late "Wilson Day," most country banks throughout Louisiana did business as usual...