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  • 14-12-2020
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why did banks stop lending money in the 1920s?​

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kimielacy
kimielacy kimielacy
  • 14-12-2020

Answer:

U.S banks were reduced from 25,000 to 14,000 in the late 1920s. .. As the depression wore on, more businesses failed. workers lost their jobs, and bank loans were not repaid. people withdrew their cash to live on, instead of saving it. Banks could not keep up with the demands for withdrawal of funds

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