What was President Martin Van Buren’s new solution to the problem of what to do about the federal government’s relationship to banking?
a. He created the Third Bank of the United States, but this time headed by a reliable Democrat.
b. He proposed that federal funds be controlled by government officials rather than by bankers.
c. He set up a program of federal insurance on individual bank accounts to protect them in times of panic.
d. He called for federal money to be deposited in state-chartered banks known as “pets.”
e. He proposed the creation of the Federal Reserve Bank, with branches in key cities.
Ans: b. He proposed that federal funds be controlled by government officials rather than by bankers.
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