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Advanced Placement (AP)Advanced Placement (AP)
4 October, 08:16

What was an effect of the Banking Act of 1863?

A. Some banks went out of business because of taxes.

B. Many banks started to create their own currencies.

C. Federal currency was tied to the gold standard.

D. Federal banks were forbidden to issue bonds.

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  1. 4 October, 11:32
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    B.) but it required currency issued by them be backed by government securities such as the gold standard
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Home » Advanced Placement (AP) » What was an effect of the Banking Act of 1863? A. Some banks went out of business because of taxes. B. Many banks started to create their own currencies. C. Federal currency was tied to the gold standard. D.
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