In the 1920s, many rural banks failed because

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Hadassah Eaton

Business

24 July, 00:13

In the 1920s, many rural banks failed because

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Abram Curtis · Answer 1

In the 1920s, many rural banks failed because of the failure of the farms to produce the bumper crops they were producing previously. The farmers had invested heavily in machinery and storage facilities. They drop in production meant that the investment did not recover and they failed to pay their loans back.