What was the purpose of the March 1933 bank holiday?

to identify and close failing banks

to allow customers to take their money out of banks without penalty

to freeze bank accounts so no more banks would fail

to temporarily close all banks so a federal banking relief program could be put in place

The purpose of the March 1933 bank holiday was to temporarily close all banks so a federal banking relief program could be put in place. Hence, Option D is correct.

What was the banking relief program?

The program was run under the Emergency Banking Act. This law was passed in 1933. This act granted authority over the nation's banking system to the president, the comptroller of the currency, and the secretary of the treasury.

After the inauguration on March 4, 1933, President Franklin Roosevelt declared a four-day national banking holiday that kept all banks shut until Congress could act on March 6.

Thus, Option D is correct.

Learn more about Emergency Banking Act from here:

https://brainly.com/question/13835286

#SPJ2

What was the purpose of the March 1933 bank holiday? to identify and close failing banks to allow customers to take their money out of banks without penalty to freeze bank accounts so no more banks would fail to temporarily close all banks so a federal banking relief program could be put in place

Respuesta :

What was the banking relief program?

Otras preguntas