The New Deal I (1933-34) continues: Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq., signs the Municipal Bankruptcy Act of 1933.  This is the first statute in the nation to address the question of municipal jurisdictions reorganizing their debts to avoid insolvency.

       NOTE: As an attorney (Officer of the Court) Roosevelt was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].

       [added 7/8/2022] Thanks to Bill Holmes for this entry.

Subsequent Events:

5/27/1933                            6/28/1934                    8/16/1937

Authority:

References:

Encyclopedia of Banking and Finance, s.V. “New Deal,” 753.

Current U.s. National Debt:

$36,167,124,467,492

Source