THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He wanted to tax all banks to pay for his New Deal programs
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he wanted to make sure all the banks were stable before they reopened
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He wanted to make sure that people stopped investing their money in the stock market
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he wanted to stop foreign countries from depositing money into U.S. banks
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Detailed explanation-1: -For an entire week in March 1933, all banking transactions were suspended in an effort to stem bank failures and ultimately restore confidence in the financial system.
Detailed explanation-2: -In 1939, responding to events caused by the Great Depression, President Franklin Roosevelt declared a “banking holiday, ” ordering all banks in the United States closed until government audits declared them solvent. During the Great Depression, banks throughout the United States faced a financial crisis.
Detailed explanation-3: -Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation’s banking system and to stabilize America’s banking system. On March 6, he declared a four-day national banking holiday that kept all banks shut until Congress could act.