"The emergency banking legislation passed by the Congress today is a most constructive step toward the solution of the financial and banking difficulties which have confronted the country. The extraordinary rapidity with which this legislation was enacted by the Congress heartens and encourages the country."—Secretary of the Treasury William Woodin, March 9, 1933What was the aim of the legislation referred to in this excerpt? Reopen banks and convince people to redeposit their cash. Create a federal insurance program for funds held in banks. Separate the banking from the investment industry. Permanently close all of the poorly performing banks.

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