Question

Why did FDR declare a bank holiday early in the his administration

a) to cutt off the use of cash
b) to weaken the banking industry
c) to inspect the financial health of the banks
d) to give people in the banking industry of well-earned vacation

Answer 1

Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation's banking system. On March 6 he declared a four-day nationalbanking holiday that kept all banksshut until Congress could act.