In which way did Roosevelt attempt to restore the nation's confidence in the banking system? A. Firing and replacing top banking
executives B. Ordering banks to keep 100 percent of deposits in cash C. Declaring a bank holiday to give banks time to get in order D. Lowering interest rates
The correct answer is C. Declaring a bank holiday to give banks time to get in order.
When President Franklin D. Roosevelt took over the office, he declared a national 4 day holiday for banks. At this time, this bank holiday was a necessity as many banks ran out of currency and were forced to close. To combat the negative effects of the Great Depression on the banking industry, FDR closed all banks so that they may get their affairs in order. This included individuals from the federal government inspecting bank records and developing an idea of what banks deserved to receive federal funds in order to be bailed out.
The Republic of Texas inherited from the provisional and ad interim governments a debt estimated at $1.25 million. Of this, $100,000 was in the form of loans and the remainder in the form of claims for services and supplies.
The increase of trade led to a new kind of economy. During the middle ages people traded goods for other goods. During the Renaissance people began using coins to buy goods which created a money economy. ... Crafts people produced goods that merchants traded all over Europe.
