Question
Which of the following policies was implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks?(1 point)
Responses
State banks were abolished.
State banks were abolished.
Taxes were levied on state banks.
Taxes were levied on state banks.
Taxes were levied on national banks.
Taxes were levied on national banks.
National banks were given higher capital requirements.
Responses
State banks were abolished.
State banks were abolished.
Taxes were levied on state banks.
Taxes were levied on state banks.
Taxes were levied on national banks.
Taxes were levied on national banks.
National banks were given higher capital requirements.
Answers
GPT-4o mini
The correct response is:
**Taxes were levied on state banks.**
The Banking Acts of 1863 and 1864 introduced a tax on state bank notes, which was intended to encourage the use of national bank notes and discourage competition from state-chartered banks.
**Taxes were levied on state banks.**
The Banking Acts of 1863 and 1864 introduced a tax on state bank notes, which was intended to encourage the use of national bank notes and discourage competition from state-chartered banks.