Question

Immediately upon his election, what short-term solution did Franklin Roosevelt use to end the run on bank withdrawals?

fireside chat

bank holiday

Glass-Steagall Act

Federal Securities Act

Answer 1

"Just days before Franklin D. Roosevelt's inauguration as President, the United States was in the middle of a banking panic. On March 3, 1933, Washington Governor Clarence Martin closed all Washington State banks and declared a three-day “bank holiday,” working with other state governments to pushing for the passage of a federally mandated bank holiday. The banking system was unable to keep up with the panicked withdrawals that customers were making from their bank accounts, rendering banks incapable of providing money many customers had deposited. With the passing of Washington State Senate Bill No. 185 on March 2, 1933, Governor Martin was able to force a temporary closure of all state banks."

Answer 2

I would agree with @nevershoutnever_97. It's not the fireside chat. Those were used for FDR to connect with the American people in a more personal, intimate way to help ease them through the Depression.

It's not the Glass-Steagall Act, because that helped limit community banks' securities activities. It didn't really have to do with people withdrawing money from the banks.

It's also not the Federal Securities Act. That handled the regulation for the offers and sales of securities, again, not involving withdrawals.

That leaves you with B) Bank holidays.

Answer 3

yes...it is the bank holiday

Answer 4

It was back holida! THANK YOU :)

Answer 5

That is what we are here for :)