Multiple Select Question

Question

Select all that apply

Which of the following were deemed by Congress in the early 20th century to be essential for an efficient banking system?
Multiple select question.

Public control

Decentralization

Freedom from regulation

International involvement

Centralization

Answer 1

In the early 20th century, Congress deemed the following to be essential for an efficient banking system:

• Decentralization
• Centralization

These concepts reflect the balance between local control and stability provided by a centralized system, particularly in the context of the establishment of the Federal Reserve System in 1913, which aimed to create a more stable and flexible banking framework in the United States.

The options "Public control," "Freedom from regulation," and "International involvement" were not primarily emphasized in the same way during that period.