The three major movements toward centralization of the U.S. banking system were all driven, in part, by(1 point)

Question

Responses

a desire to increase the number of state-chartered banks.
a desire to increase the number of state-chartered banks.

a need to manage wartime debts and expenditures.
a need to manage wartime debts and expenditures.

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 limit federal control of the money supply.

Answer 1

The correct response is:

a need to manage wartime debts and expenditures.

The centralization of the U.S. banking system was influenced by various factors, including the need for a more coordinated financial response to wartime conditions, which led to reforms and the establishment of a central banking system.