Question

*PLEASE ANSWER THESE ADDITIONAL QUESTIONS , I WILL GIVE BRAINLIEST*
1. Which of the following acts was passed to help fund the Union's war efforts during the American Civil War? (1 point)

a.) Michigan Act of 1837

b.) Specie Circular of 1836

c.) National Banking Act of 1863

d.) Deposit and Distribution Act of 1836


2. Which of the following policies was implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks? (1 point)

a.) State banks were abolished.

b.) National banks were given higher capital requirements.

c.) Taxes were levied on national banks.

d.) Taxes were levied on state banks.


3. Which of the following reflects the decentralization that occurred throughout the U.S. banking system in the mid-1800s?(1 point)

a.) The national currency of the United States was established.

b.) The number of independent state banks increased dramatically.

c.) The number of national banks increased dramatically.

d.) The first and second central banks of the United States were chartered.


4. Which of the following difficulties would Andrew Jackson have faced in implementing his preferred currency of gold and silver coin?(1 point)

a.) The First National Bank only printed 20 percent of the country's currency, limiting the money supply.

b.) U.S. gold and silver mines were too numerous under Jackson's presidency and would contribute to an uncontrollable money supply.

c.) National banks were only capable of loaning 10 percent of their reserves, limiting the money supply.

d.) The U.S. stock of gold and silver was too limited under Jackson's presidency to provide a sufficient money supply.

Answer 1

Banking in the U.S. Before 1900 Quick Check

unit five lesson three

1) Which of the following acts was passed to help fund the Union's war efforts during the American Civil War?

Answer: National Banking Act of 1863

2) Who supported and led the push for chartering the first central bank of the United States?

Answer: Alexander Hamilton

3) Which of the following policies was implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks?

Answer: Taxes were levied on state banks

4) Which of the following reflects the decentralization that occurred throughout the U.S. banking system in the mid-1800s?

Answer: The number of independent state banks increased dramatically

5) Which of the following difficulties would Andrew Jackson have faced in implementing his preferred currency of gold and silver coin?

Answer:  The U.S. stock of gold and silver was too limited under Jackson's presidency to provide a sufficient money supply

Answer 2

1) The act that was actually passed to help fund the Union's war efforts during the American Civil War is: National Banking Act of 1863

2) The individual that supported and led the push for chartering the first Central Bank of the United States is: Alexander Hamilton

3) The policy that was implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks is: Taxes were levied on state banks.

4) The statement that reflects the decentralization that occurred throughout the U.S. banking system in the mid-1800s is: The number of independent state banks increased dramatically.

5) The difficulty that Andrew Jackson would have faced in implementing his preferred currency of gold and silver coin is: The U.S. stock of gold and silver was too limited under Jackson's presidency to provide a sufficient money supply.

What is banking?

Banking actually refers to the way in which financial institutions collects, exchanges, pays, safeguards or invests the finances of customers. We can see that institutions which carry out this service are known as banks.

In United States, the central banking system is known to be the Federal Reserve system. In 1863, the National Banking Act was established to fund the Union's war efforts during the American Civil War.

Learn more about banking on https://brainly.com/question/4359581