Question

1) Why more than 700 banks of USA collapsed in 1930 ?​

Answer 1

Answer:

As the economic depression deepened in the early 30s, and as farmers had less and less money to spend in town, banks began to fail at alarming rates. 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.

Answer 2

Answer:

Due to great economic depression led all the countries in dilemma which is due to the loss held in 1st World War by all the countries.