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Why did President Roosevelt declare a bank holiday after taking office? Check all that apply.

A. To enable inspections of bank finances
B. To allow banks to restructure their organizations
C. To prevent depositors from taking their money
D. To increase public confidence in the banks
E. To prevent money from leaving the country



Answer :

GinnyAnswer

Final answer:

President Roosevelt declared a bank holiday to prevent depositors from taking their money and restore confidence in the banking system.


Explanation:

President Roosevelt declared a bank holiday after taking office to prevent depositors from taking their money. The Emergency Banking Relief Bill helped restore confidence in the banking system by granting the government the power to evaluate and provide loans to banks in crisis. The aim was to stabilize the collapsing banking system and prevent further runs on banks, boosting public faith in the US banking system.


Learn more about President Roosevelt's Bank Holiday Declaration here:

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