Answer :
To counter bank runs during the Great Depression, the federal government declared a bank holiday.
Explanation:
A bank run was when numerous people would go to the bank and withdraw their money in large amounts. People were worried about the banking institutions and took all of their money out which caused a crisis.
Tennessee was the first state to encounter a bank run and this led to more people, at once, taking their money out of the banks all over southeast Tennessee. Within days, New York was hit with numerous bank runs.
President Roosevelt was elected after the banks failed and he declared a bank holiday right after he was in office. This helped the federal government do inspections and be able to guarantee that the banks would protect the people after the bank holiday was over.
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