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

Question

Responses

Monetary reserves increased.
Monetary reserves increased.

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

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

Land became easier to purchase.

Answer 1

The correct response is:

The U.S. banking system experienced decentralization.

During the Free Banking Era (approximately 1837 to 1863), many states allowed the establishment of banks with fewer restrictions, leading to a decentralized banking system where numerous banks issued their own currency.