A massive banking crisis occurred in the United States in 1933. In the two preceding years, a large number of banks had failed, and fear of lost savings had prompted many depositors to remove their funds from banks. Problems became so serious in the state of Michigan that Governor William A. Comstock was forced to declare a moratorium on all banking activities in the state on February 14, 1933. The panic in Michigan quickly spread to other states, and on March 6, President Franklin D. Roosevelt declared a banking moratorium throughout the United States that left the entire country without banking services. Congress immediately met in a special session to solve the banking crisis and on March 9 passed the Emergency Banking Act of 1933 to assist financially healthy banks to reopen. By March, banks controlling 90 percent of the country's financial reserves were again open for business. Which of the following can be inferred from the passage?

Jakarta, Wed. Many people are closely following the political polls during the final weeks preceding this important general election. But how do these polls actually work? “Polls are surveys of ...

The indiscriminate hunting of endangered houbara bustard birds in Pakistan by rich hunting parties from the Gulf nations have pushed the species toward extinction. The hunting was initially banned by ...

THE LION AND THE MOUSE A Lion was sleeping peacefully when he was woken by something running up and down his back and over his face. Pretending to be still asleep, the Lion slowly opened one eye a...

The indiscriminate hunting of endangered houbara bustard birds in Pakistan by rich hunting parties from the Gulf nations have pushed the species toward extinction. The hunting was initially banned by ...

Rabbits are small mammals in the family Leporidae of the order Lagomorpha, found in several parts of the world. There are eight different genera in the family classified as rabbits, including the Euro...