Question

The _____ was one of the first acts Roosevelt passed. It prevented panic withdrawals from banks by the public. It also closed banks until they could be evaluated by the government to be fiscally sound

Answer 1

The Emergency Banking Act of 1933 was a pivotal step in restoring confidence in the U.S. banking system during the Great Depression, leading to the reopening of solvent banks and the establishment of the FDIC.

Step-by-step explanation:

The act referred to in the question is known as the Emergency Banking Act of 1933, which was one of the first acts passed by President Franklin D. Roosevelt in response to the banking crisis during the Great Depression. The act implemented a nationwide bank holiday that temporarily closed U.S. banks to prevent panic withdrawals and allowed for government evaluation of banks' fiscal health. Only those banks deemed solvent were allowed to reopen, which helped to restore public confidence in the banking system.

As a result of the Emergency Banking Act and Roosevelt's subsequent "fireside chats," consumer confidence improved significantly. Close to $1 billion in cash and gold was redeposited into the banks after the holiday, demonstrating the regained trust in the banking system. The act also led to increased federal oversight and the establishment of the Federal Deposit Insurance Corporation (FDIC) under the Glass-Steagall Banking Act, further securing individual bank deposits up to $2,500.

Answer 2

Im almost certain it was the new deal. You could be a little research on it but yeah i think thats the answer