Many banks in the United States failed in the 1930s, not because they were poorly managed, but because they could not survive the panicky withdrawal of funds by their depositors.

Question

Quizplus · Accepted Answer

This is a historically accurate statement. During the Great Depression in the 1930s, many banks were forced to close due to a wave of panicked withdrawals by depositors. The failure of these banks contributed to the economic crisis of the time.

Many Banks in the United States Failed in the 1930s