"This is pre-eminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyses needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigour has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days."

Franklin D. Roosevelt, First Inaugural Address, Washington D.C., 4 March 1933. Roosevelt had won the 1932 presidential election in a landslide, defeating Herbert Hoover. He was inaugurated at the depth of the Depression: unemployment stood at around 25% and over 4,000 banks had failed in the preceding months.