What was the primary reason that Congress initiated deposit insurance in the 1930s?

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The primary reason Congress initiated deposit insurance in the 1930s was to protect the deposits of individual savers. This was in response to the widespread loss of savings during the Great Depression when many banks failed, leaving depositors with no recourse for their lost funds. Deposit insurance provided a safety net for savers, helping to restore confidence in the banking system and prevent runs on banks that could further destabilize the economy.

What Was the Primary Reason That Congress Initiated Deposit Insurance