Multiple Choice
Which of the following statements characterizes the operations of the Bank of the United States in the twenty years after its 1791 chartering?
A) The national bank was so successful that Jeffersonian Republicans embraced it and helped secure a new charter after the original charter expired.
B) The bank had branches in eight major cities to respond to demands for commercial credit,and its profits averaged 8 percent annually.
C) Serving as a central clearinghouse,the bank was able to prevent states from issuing much paper currency that wasn't backed by gold or silver.
D) In most years,the bank did not make a profit,and operating subsidies from the federal government were required to keep it afloat.
Correct Answer:
Verified
Correct Answer:
Verified
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