Commercial banking was important to American economic growth before 1860 because banks:
a. advanced loans to almost anyone who had a job or owned land
b. created money or credit and loaned it mostly to reliable borrowers and businesses
c. printed more and more paper money, causing interest rates to decline steadily after the War of 1812
d. hoarded cash, preventing excessive speculation
B
You might also like to view...
Who is credited with starting the Protestant Reformation?
A) Catherine of Aragon B) Michael Servetus C) Martin Luther D) Ignatius Loyola
Aviator Charles "Lucky Lindy" Lindbergh thrilled the world with his solo, non-stop flight from Long Island, NY, to
A. Rome. B. Paris. C. Madrid. D. London.
According to South Carolina laws in 1717, any white woman who delivered a child fathered by a black man:
A) was sentenced to seven years in prison. B) was sentenced to life in prison. C) was sentenced to seven years as an indentured servant. D) was sentenced to twenty years as an indentured servant.
In the late 1940s, workers
A) enjoyed great support from the federal government. B) lost basic rights. C) decided that strikes were ineffective. D) went on several strikes.