Why did President Roosevelt declare a bank holiday after taking office? Check all that apply. to enable inspections of bank finances to allow banks to restructure their organizations to prevent depositors from taking their money to increase public confidence in the banks to prevent money from leaving the country

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Social Studies

Nathanael Davila

3 October, 21:38

Why did President Roosevelt declare a bank holiday after taking office? Check all that apply. to enable inspections of bank finances to allow banks to restructure their organizations to prevent depositors from taking their money to increase public confidence in the banks to prevent money from leaving the country

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Marquis · Answer 1

The correct answers here are 3 and 4.

The Bank Holiday was declared in 1933. The US has for some time felt the effects of the Great Depression. The banks were hit hard and the people lost confidence in the bank and withdrew money from the banks which actually even further hurt the economy. So in order to prevent people from withdrawing money and to restore the confidence in banks, President Roosevelt declared the Bank Holiday.