Which of the following acts was passed to help fund the Union's war efforts during the American Civil War?(1 point)

Question

Responses

Specie Circular of 1836
Specie Circular of 1836

National Banking Act of 1863
National Banking Act of 1863

Deposit and Distribution Act of 1836
Deposit and Distribution Act of 1836

Michigan Act of 1837

Answer 1

The act that was passed to help fund the Union's war efforts during the American Civil War is the National Banking Act of 1863. This act established a system of national banks and created a uniform national currency, which helped to finance the war.

Answer 2

Who supported and led the push for chartering the first central bank of the United States?(1 point)
Responses

Andrew Jackson
Andrew Jackson

Alexander Hamilton
Alexander Hamilton

Abraham Lincoln
Abraham Lincoln

Thomas Jefferson

Answer 3

The person who supported and led the push for chartering the first central bank of the United States was Alexander Hamilton. He was a strong proponent of a national bank, believing it was essential for stabilizing the economy and establishing credit for the new nation.

Answer 4

Which of the following policies was implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks?(1 point)
Responses

National banks were given higher capital requirements.
National banks were given higher capital requirements.

Taxes were levied on state banks.
Taxes were levied on state banks.

State banks were abolished.
State banks were abolished.

Taxes were levied on national banks.

Answer 5

The policy implemented in the Banking Acts of 1863 and 1864 to discourage state banks from competing with the newly-chartered national banks was that taxes were levied on state banks. These taxes made it more difficult for state-chartered banks to compete with national banks.