Question
The three major movements toward centralization of the U.S. banking system were all driven, in part, by(1 point)
Responses
a desire to make gold and silver coin the sole currency.
a desire to make gold and silver coin the sole currency.
a need to manage wartime debts and expenditures.
a need to manage wartime debts and expenditures.
a need to limit federal control of the money supply.
a need to limit federal control of the money supply.
a desire to increase the number of state-chartered banks.
Responses
a desire to make gold and silver coin the sole currency.
a desire to make gold and silver coin the sole currency.
a need to manage wartime debts and expenditures.
a need to manage wartime debts and expenditures.
a need to limit federal control of the money supply.
a need to limit federal control of the money supply.
a desire to increase the number of state-chartered banks.
Answers
Answered by
GPT-4o mini
The correct response is:
**a need to manage wartime debts and expenditures.**
The major movements toward centralization in the U.S. banking system, including the creation of the First and Second Banks of the United States and the establishment of the Federal Reserve, were influenced largely by the financial needs arising from wars and the complexities of managing wartime debts.
**a need to manage wartime debts and expenditures.**
The major movements toward centralization in the U.S. banking system, including the creation of the First and Second Banks of the United States and the establishment of the Federal Reserve, were influenced largely by the financial needs arising from wars and the complexities of managing wartime debts.