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.

Monetary reserves increased.
Monetary reserves increased.

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

The U.S. banking system experienced decentralization.

Answer 1

The correct response is: The U.S. banking system experienced decentralization.

During the Free Banking Era (approximately 1837 to 1863), state-chartered banks were established with fewer regulations, leading to a more decentralized banking system. Each bank could issue its own currency, leading to a diverse range of banknotes in circulation.