Answers.com > Wiki Answers > Categories > History, Politics & Society > History > US History > The Great Depression > How many banks collapsed during the Great Depression?

How many banks collapsed during the Great Depression?

In: The Great Depression [Edit categories]

Answer:

Approximately 9,000 banks failed during the Great Depression during the late 20's early 30's.

First answer by ID1102984072. Last edit by Ksmail. Contributor trust: 3971 [recommend contributor ]. Question popularity: 9 [Recommended].

[report abuse]

Can you answer these The Great Depression questions?

	What was the new deal philosophy regarding the governments role in the economy?	Answer it!
	How did Franklin Roosevelt respond to the great depression?	Answer it!
	What charities supplied food during the great depression?	Answer it!
	What item did unemployed people sell during the depression?	Answer it!
	Why did the great depression help totalitarian regimes to rise?	Answer it!

How many banks completely collapsed during the Great Depression?
During the 20s, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed - 10 times as many. In all, 9,000 banks failed...
What did many do during the great depression?
they went to work to support their parents.
Why did many banks fail during the great depression?
Banks loan your money out and then collect a profit from it. During the Great Depression people couldn't pay their loans back, which caused the bank's money supply to drop. Then when someone wanted...
Why were there many bank failures during the great depression?
banks invest money in the stock market, stock market crached, so did the banks
How many bank closures were there during the great depression?
over 9000