Question

What did supporters believe a national bank would do for the United States?


A) it would reduce uncertainty about the value of money

B)it would enable state and private banks to print their own money

Answer 1

A. It would put the money into the governments hands (more secure), and local banks would not be able to print their own money

Answer 2

The correct answer is A) it would reduce uncertainty about the value of money.

In the United States, the supporters believed that a National Bank would reduce uncertainty about the value of money.

The Bank of Nort America was the nation’s first Central Bank. It was followed by the First Bank of the United States 1n 1791. It was the idea of Alexander Hamilton as the Secretary of the Treasury. He and the supporters of the idea considered that the decision to create the bank would stabilize the economic conditions of the country and it would improve the credit of America.