Question

The Emergency Banking Act was the first in an unprecedented flurry of legislation passed in the first three months of Roosevelt’s administration, a period known as the Hundred Days. Identify the goals of the following legislation passed during the Hundred Days.

Answer 1

Answer:

Explanation:

In the administration of President Roosevelt, he made series of pledges of what he is going to achieve in his first 100 days in office. One of the things which he fulfils was the passing into law the Emergency Banking Act. The goals of the banking act law was to grant the president and the secretary of the treasury department greater control of the regulatory authority over the American banking system.

It also enables the opening of the individual accounts as soon as it was certified fit by the regulatory body (i.e the account being financially secure). The major goal was to reassure the Americans that it is safer to put their money in the reopened banks than to be kept at their various homes due to the panic the had about their money getting lost in banks as a result of the country's great depression that was being experienced.