Question

Why did President Roosevelt declare a bank holiday after taking office? Check all that apply.
to enable inspections of bank finances
to allow banks to restructure their organizations
to prevent depositors from taking their money
to increase public confidence in the banks
to prevent money from leaving the country

Answer 1

Roosevelt declared a bank holiday to:

• enable inspections of bank finances
• prevent depositors from taking their money
• to prevent money from leaving the country

What is the bank holiday?

This was a 5 days holiday declared by Roosevelt upon resuming office as President as an attempt to improving the collapsing banking system.

He declared the holiday to enable inspections of bank finances, prevent depositors from taking their money and to prevent money from leaving the country.

Therefore, the Option A, C and E is correct.

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