Immediately upon his election, what short-term solution did franklin roosevelt use to end the run on bank withdrawals?
select one:
a. fireside chat
b. bank holiday
c. glass-steagall act
d. federal securities act

The correct answer is B.  Franklin Roosevelt used the bank holidays, imposed through the Emergency Banking Act, to end the run on bank withdrawals.

The Emergency Banking Act was a law passed by the United States Congress, proposed by President Franklin D. Roosevelt during the Great Depression in the early days of its mandate, on March 9, 1933.

The Law formulated a plan according to which all banks of manifest insolvency were definitively closed, allowing operations only to banks that proved to be sufficiently solvent to sustain themselves. Only the latter could open their doors again after the National Bank Holiday of four days decreed by President Roosevelt from 9 to 13 March 1933.

The law went into effect along with a guarantee from the Federal Reserve to provide funds to solvent banks that could reopen, which in fact caused the federal government to insure 100% of bank deposits. This confidence caused that when the banks reopened on March 13 of 1933, the depositors returned to deposit their funds in these, in sharp contrast with the massive deposit withdrawals that had happened in previous months.

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