Why was the banking industry under investigation by the Nye Committee in 1934?

2 answers:

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I believe it is A. "Nye created headlines by drawing connections between the wartime profits of the banking and munitions industries to America's involvement in World War I. Many Americans felt betrayed and questioned that the war had been an epic battle between the forces of good (democracy) and evil (autocracy). This investigation of these "merchants of death" helped to bolster sentiments for isolationism."

balu736 [363]3 years ago

4 0

Answer:

Option A. The banking industry was under investigation by the Nye Committee in 1934 as questions emerged as to whether banks, as well as munitions factories, played a role in the United States joining World War I.

Explanation:

The Special Committee of Investigation of the Munitions Industry, commonly known as the Nye Committee was a United States committee founded on April 12th, 1934, and chaired by U.S Senator Gerald Nye. The goal of the committee was to investigate whether or not the involvement of the country in World War I had a financial interest supported by the banking system and the weapon's suppliers. The conclusion of the committee suggested that it had found enough proof that the banking system and the weapons supplier's factories were connected to the involvement of the nation in World War I. This disappointed and angered the public opinion of America, and was one of the main reasons for the country's neutrality during the earlier stages of World War II.

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