Question

How did Herbert Hoover belatedly try to curb the growing number of bank failures in 1932?

He lowered interest rates.

He permitted the creation of the Reconstruction Finance Corporation, which had a modest effect

He abandoned the Gold Standard.

He temporarily dissolved the Federal Reserve System.

Answer 1

Herbert Hoover tried to curb bank failures in 1932 by lowering interest rates, creating the RFC, and temporarily abandoning the Gold Standard.

Step-by-step explanation:

In an attempt to curb the growing number of bank failures in 1932, Herbert Hoover took several actions:

1. He lowered interest rates to stimulate borrowing and investment.
2. He permitted the creation of the Reconstruction Finance Corporation (RFC), which provided loans to businesses, including banks, to increase liquidity and stability in the financial system.
3. He temporarily abandoned the Gold Standard, which allowed for the circulation of more money and stabilized commodity prices.

These measures had varying degrees of success, but ultimately they were not enough to alleviate the effects of the Great Depression.