JACKSONIAN DEMOCRACY 1825 1850
PRESIDENT ANDREW JACKSON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What was the function of the Bank of the US?
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It held funds deposited by the federal government.
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It owned and operated smaller banks.
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It served as the only bank in the country.
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It decided which banking laws were constitutional.
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Explanation:
Detailed explanation-1: -The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
Detailed explanation-2: -The First Bank of the United States was a cornerstone of Hamilton’s fiscal policy. It helped fund the public debt left from the American Revolution, facilitated the issuance of a stable national currency, and provided a convenient means of exchange for all the people of the United States.
Detailed explanation-3: -Founded by an act of Congress in 1913, the Federal Reserve’s primary purpose was to enhance the stability of the American banking system.
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