Finally Remembered

As a historian, Feilan knew better than anyone what would happen next.

Michigan had set an extremely dangerous precedent.

When the government could no longer protect your deposits, the last thing it could do was shut its doors, denying you even a final glimpse inside.

On February 24, Maryland's banks closed.

On February 27, Kentucky and Arkansas fell in succession.

On March 1, Arizona, Oklahoma, Kansas...

The shaded areas representing bank closures on the map grew ever larger, spreading mercilessly like ink bleeding across absorbent paper.

Newspaper reports shifted from isolated crises to regional disasters, eventually pointing toward a nationwide financial collapse.

People began exchanging every asset they had for cash at any cost, hiding it in their homes or burying it in their backyards.

Credit froze, and commercial activity teetered on the brink of paralysis.

The Hoover administration was completely immobilized, able only to watch helplessly as the nation slid into the abyss.

On March 1, when Feilan opened the newspaper again, a shocking headline leaped out at him.

<Banking Systems in 25 States Shut Down—Financial Doomsday Arrives?>

Feilan knew that the pendulum of history had swung to its lowest point.

And the man who could push it back would officially step onto the stage in three days!

Washington.

In the conference room of a temporarily requisitioned federal building, the atmosphere was even heavier than the lead-gray sky outside the windows.

Treasury Secretary William Woodin, Secretary of State Cordell Hull, Interior Secretary Harold Ickes, and the other newly assembled cabinet members sat around the long table like sailors aboard a ship about to sink.

At the head of the table sat Franklin D. Roosevelt in his wheelchair.

But the usual calm warmth had vanished from his face. His expression was terrifyingly grim.

Everyone knew that the United States economy had long been mired in the Great Depression, riddled with holes.

Yet no one had expected the crisis to erupt at the very moment they were about to enter the White House and take up the reins of power, catching them all completely off guard.

"Gentlemen, just as we are about to take hold of this country's steering wheel, someone replaced the brake fluid with gunpowder and threw in a lit match."

"Mr. Hoover is probably packing his belongings in the White House right now. He can leave wearing an expression that says, 'I did my best,' and hand us this burning car."

"So can anyone tell me how this damned nationwide financial heart attack managed to spread across the entire country in just two weeks?!"

Treasury Secretary William Woodin jolted.

He knew the question was aimed at him and hurriedly replied, "Mr. President, according to the latest information we have, this began with the United Guardian Trust Company in Detroit."

"The company's assets had deteriorated severely, and it was too deeply tied to local industry, especially the automobile sector. The state government and the Reconstruction Finance Corporation both tried to organize a rescue, but the most crucial party... Henry Ford, refused any form of capital injection or guarantee."

"Henry Ford declared, 'Let the banks fail. Let liquidation begin.' His refusal caused the final rescue negotiations to collapse, setting off this disaster."

"Henry Ford... Bang!"

Roosevelt's fist slammed heavily onto the thick mahogany table.

Of course he knew that old man.

An industrial emperor who believed in extreme individualism and Social Darwinism, a stubborn old man who saw his factories as his absolute kingdom and the government as his greatest enemy.

During the election, he had not supported Hoover, but neither had he publicly supported Roosevelt, maintaining an arrogant posture of supreme neutrality.

Roosevelt forced down his anger and turned his gaze back to William. "William, do you remember what you assured me of?"

William's face turned deathly pale as he hurriedly explained, "I'm sorry, Mr. President. No one could have imagined this crisis would erupt so quickly, not even those financiers on Wall Street..."

"No one..."

Roosevelt was about to say something when it felt as if his mind had been struck by something, and he froze.

A forgotten memory gradually came into focus.

He recalled that several months ago, at the victory dinner at the Hyde Park estate, a young man had warned him about a banking crisis to his face.

He remembered that the young man had predicted that an extraordinarily severe bank run would break out across the country in the coming months, even causing the entire banking industry to collapse completely.

At the time, Roosevelt had indeed taken it seriously, and a trace of caution had risen in his heart. After the dinner, he had specifically spoken with William about it and asked for his opinion.

But William had told him then that there was no need to worry.

After all, Wall Street financiers had noses more sensitive than sharks smelling blood. If there were any major hidden danger, they would surely detect it immediately.

With William's assurance, he had gradually put the young man's warning out of his mind and focused entirely on assembling his cabinet, balancing the various factions, and preparing for the inauguration.

But now, thinking carefully about every word that young man had said...

The total outbreak of the banking crisis, its spread across the entire United States, even the timing of its eruption—every single prediction had been terrifyingly accurate!

"Oh, right..."

A glimmer suddenly flashed in Roosevelt's eyes, as though he had remembered something crucial. He immediately turned to the assistant standing by the door. "Go get the document Feilan gave me!"

"Yes, Mr. President!"

The cabinet members present stared at Roosevelt, whose demeanor had changed so abruptly, all of them utterly baffled and full of confusion.

Not long afterward, the assistant came running back, panting heavily, clutching a document tightly in his hand as he hurried toward Roosevelt.

Roosevelt immediately reached out, impatiently opened the document, and began reading it carefully, word by word.

At first, his expression remained grim, but as he read further, the look on his face gradually changed.

Surprise gave way to shock, and by the time he had finished reading everything, he was completely stunned. The document trembled slightly in his hand, and his eyes were filled with disbelief.

"What is it, Mr. President?"

William, watching Roosevelt's stunned expression from the side, finally could not help asking.

Roosevelt slowly came back to himself, took a deep breath, and held the document out to William. "See for yourself."

William hurriedly took the document and eagerly opened it to read.

But unlike Roosevelt, he was not particularly surprised after finishing it. He merely nodded. "Mr. President, this is a good summary of the crisis."