What occurred because of the Free Banking Era in the U.S ?

Question

Banks were unable to print more money
The U.S. Banking system experienced decentralization
Monetary reserves increased
Land became easier to purchase

Answer 1

Banks were unable to print more money led to inflation and financial instability. The U.S. Banking system experienced decentralization as banks were not regulated by a central authority, leading to more competition and a variety of banking practices. Monetary reserves increased as banks had to hold a certain amount of reserves to back their issued currency. Land became easier to purchase as banks had more lenient lending policies and were willing to finance land purchases.