Question 1

During the Civil War,inflation caused U.S.prices to rise by roughly

Accepted Answer

A) 12 percent. 
B) 32 percent. 
C) 54 percent. 
D) 76 percent.

Question 2

One important issue in the post-bellum currency debate concerned the coinage of silver by the federal government.Which of the following statements presents accurate information regarding the silver debate?

Accepted Answer

A) Silver circulated widely as money in the years immediately prior to the Coinage Act of 1873. 
B) The Bland-Allison Act allowed for the Treasury to make limited monthly silver purchases at the market price. 
C) Silver never circulated as money in the U.S.after 1873;however,it was used as a unit of account. 
D) Congress passed the Coinage Act in 1873 despite widespread public opposition to this legislation at the time.

Question 3

In 1865,Congress raised the tax on state bank notes to 10 percent of the value of notes in circulation.This tax

Accepted Answer

A) ended the dual banking system in the U.S. 
B) was less than the tax on national bank notes. 
C) was rescinded in 1870. 
D) was avoided through the use of demand deposits.

Exam 19: Money, Prices, and Finance in the Postbellum ERA

During the Civil War,inflation caused U.S.prices to rise by roughly

One important issue in the post-bellum currency debate concerned the coinage of silver by the federal government.Which of the following statements presents accurate information regarding the silver debate?

In 1865,Congress raised the tax on state bank notes to 10 percent of the value of notes in circulation.This tax