Answer :
What did the Banking Act of 1933 do?
The new law allows the twelve Federal Reserve banks to issue additional currency on good assets and thus the banks that reopen will be able to meet every legitimate call. The new currency is being sent out by the Bureau of Engraving and Printing in large volume to every part of the country.
The new law allows the twelve Federal Reserve banks to issue additional currency on good assets and thus the banks that reopen will be able to meet every legitimate call. The new currency is being sent out by the Bureau of Engraving and Printing in large volume to every part of the country.
Answer: Roosevelt proclaimed a Bank holiday, on March 6, 1933, it shut down the banking system. The banks reopened on March 13.