JACKSONIAN DEMOCRACY 1825 1850
DEMOCRACY IN AMERICA BY ALEXIS DE TOCQUEVILLE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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national banking system
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nullification crisis
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American system
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second great awaening
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Detailed explanation-1: -In the United States, a national bank is a chartered financial institution that belongs to the Federal Reserve. Its primary purpose is to auction Treasury bonds and provide cash deposit and lending services.
Detailed explanation-2: -On February 25, 1863, President Lincoln signed The National Currency Act into law. The Act established the Office of the Comptroller of the Currency (OCC), charged with responsibility for organizing and administering a system of nationally chartered banks and a uniform national currency.
Detailed explanation-3: -The Bank would be able to lend the government money and safely hold its deposits, give Americans a uniform currency, and promote business and industry by extending credit. Together with Hamilton’s other financial programs, it would help place the United States on an equal financial footing with the nations of Europe.
Detailed explanation-4: -The National Currency Act of 1863 created the national banking system and the Office of the Comptroller of the Currency.