THE VIRGINIA DYNASTY 1801 1825
JAMES MADISON AFTER THE WAR OF 1812 THE ERA OF GOOD FEELINGS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tariff of 1816
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Second Bank of US
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Missouri Compromise
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Monroe Doctrine
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Detailed explanation-1: -President Lincoln recognized that unreliable paper money and inadequate credit was problematic. Along with his Treasury Secretary, Salmon P. Chase, he conceived the national banking system and the Office of the Comptroller of the Currency to regulate and supervise it.
Detailed explanation-2: -It would act as fiscal agent for the federal government-holding its deposits, making its payments, and helping it issue debt to the public-and it would issue and redeem banknotes and keep state banks’ issuance of notes in check.
Detailed explanation-3: -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-4: -On September 10, 1833, Jackson removed all federal funds from the Second Bank of the U.S., redistributing them to various state banks, which were popularly known as “pet banks.” In addition, he announced that deposits to the bank would not be accepted after October 1.