What was the significance of the Emergency Banking Relief Act?

1 answer:

3 0

The Roosevelt administration created the Emergency Banking Relief Act in 1933 to address the banking panic and the overall banking crisis.

Knowing this, lets take a look at the options:

to create a national bank that could be relied on by citizens - Nope

to create an influx of capital to failing banks - This seems to be the best option, all of the others

to monitor banks and issue approval to those that were still sound - As long as the bank was running, they where happy.

to regulate the use of bank holidays among the states- Nope, they issues an enormous bank holiday to shut down the banking system.

B seems to be the best option.

I hope this helps! :)

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