According to Roosevelt, what caused the bank runs? Americans were unwilling to take money out of their banks. The government was unable to print enough paper currency. Many Americans were scared that their bank was going to fail. Congress did not act quickly enough to stop the crisis.

Question

Alejandro Velasquez

History

23 January, 16:30

According to Roosevelt, what caused the bank runs? Americans were unwilling to take money out of their banks. The government was unable to print enough paper currency. Many Americans were scared that their bank was going to fail. Congress did not act quickly enough to stop the crisis.

+2

Answers (2)

Know the Answer?

Madelynn Lang · Answer 1

c edg 2020

Mohammad Rangel · Answer 2

The correct answer is: Many Americans were scared that their bank was going to fail.

According to President Roosevelt, Bank runs were caused by many American who were scared that their bank was going to fail. The people were scared that Roosevelt would abandon the gold standards thus leading the increased bank runs. Citizens lost confidence in the American banking system thus rushed to withdraw their savings before bank runs made their banks bankrupt.