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

Question

Responses

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

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

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

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 able to operate without a central authority, leading to a decentralized banking system where numerous state-chartered banks could issue their own currency. This resulted in greater competition and variation among financial institutions.