Which is true about central banking in the United States?

(multiple choice)

It began with the Banking Act of 1863.

It began with the creation of the First Bank of the United States.

It ended with the passage of the Gold Standard Act of 1900.

It ended with the creation of the Federal Reserve Bank.

Question

History

Mohammed Pham

17 August, 10:39

Which is true about central banking in the United States?

(multiple choice)

It began with the Banking Act of 1863.

It began with the creation of the First Bank of the United States.

It ended with the passage of the Gold Standard Act of 1900.

It ended with the creation of the Federal Reserve Bank.

+4

Answers (1)

Know the Answer?

Valentina Howard · Answer 1

It began with the creation of the First Bank of the United States.

Explanation:

Central banks in the US began with the creation of the First Bank of the United States on February 25, 1791. The establishment of the first central bank was introduced in the Congress by the first Secretary of the Treasury, Alexander Hamilton. Hamilton strongly believed in a strong central banking system and urged for its creation for the economic improvement of the country. Congress finally established the First Bank of the United States with a term of 20 years charter.

Which is true about central banking in the United States?(multiple choice)It began with the Banking Act of 1863.It began with the creation of the First Bank of the United States.It ended with the passage of the Gold Standard Act of 1900.It ended with the creation of the Federal Reserve Bank.