FDR created the Emergency Banking Act which was part of the New Deal the first day he was in office in the 1930s. This act closed the banks so that the federals could send somebody to inspect the banks. They closed many banks, but mostly gave people the confidence to be able to deposit moneys into banks. This holiday made more people deposit money into the banks.
Modern History Test 1
Vocabulary for Modern History Test 1. Find, create, and access Great Depression, New Deal, flashcards with Course Hero.