What impacts did the decentralization of the U.S. banking system during the Free

Question

Banking Era have on the currency in the United States? Select the two correct answers.
(1 point)
• The purchasing power currencies issued by state banks varied wildly from state to state.
• Monetary reserves decreased.
• The money supply declined.
• The amount of loanable funds increased.
• Land was frequently purchased with counterfeit currency.

Answer 1

The two correct answers are:

1) The purchasing power of currencies issued by state banks varied wildly from state to state.
2) Land was frequently purchased with counterfeit currency.