According to the speech why did Roosevelt close the banks

Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation's banking system. On March 6 he declared a four-day national banking holiday

After a month-long run on American banks, Franklin Delano Roosevelt proclaimed a Bank Holiday, beginning March 6, 1933, that shut down the banking system. ... Roosevelt used the emergency currency provisions of the Act to encourage the Federal Reserve to create de facto 100 percent deposit insurance in the reopened banks.

The peasants would be unable to provide enough for the quotas and so their goods were simply taken away from them and instead were given to the cities and the military. Millions of peasants as a result would starve to death and would end up moving to the cities where all of the food was being sent.

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