Question

During the Great Depression, what began in the fall of 1930?

Answer 1

Answer: In the fall of 1930, the first of four waves of banking panics began, as large numbers of investors lost confidence in the solvency of their banks and demanded deposits in cash, forcing banks to liquidate loans in order to supplement their insufficient cash reserves on hand.

Answer 2

The Great Depression began with the stock market crash of 1929 and was made worse by the 1930s Dust Bowl. President Franklin D. Roosevelt responded to the economic calamity with programs known as the New Deal.