What occurred because of the Free Banking Era in the U.S?(1 point)

Question

Responses

Land became easier to purchase.
Land became easier to purchase.

Banks were unable to print more money.
Banks were unable to print more money.

The U.S. banking system experienced decentralization.
The U.S. banking system experienced decentralization.

Monetary reserves increased.
Monetary reserves increased.

Answer 1

The correct response is:

The U.S. banking system experienced decentralization.

During the Free Banking Era (approximately 1837 to 1863), banks were established without the need for federal charters and operated under state laws, leading to a decentralized banking system where many banks issued their own currency.