At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Get immediate and reliable answers to your questions from a community of experienced professionals on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
It gave bankers a safe way to close the doors on angry people who lost there money. The banks were only allowed to reopen if they had the funds to.
-The administration took time to look at banks and reopen the solvent ones.
Banks were evaluated during the Bank Holiday with the goal of improving faith in the banks by reopening banks that were stable enough to get customers to reinvest.
Franklin Roosevelt concluded the banks needed to be evaluated and needed customers to return their money. Most Americans had lost faith in the banks and were nervous to redeposit their money. During the Bank Holiday, Roosevelt passed new banking legislation protecting the money of customers. When the holiday was over, banks that were stable enough to do so were reopened. Citizens lined up to reinvest their money which helped to get the economy moving again.
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.