Question

QUESTION 1

1. The first commercial bank in America was the Bank of North America, chartered by the American Continental Congress.

True

False

1 points   

QUESTION 2

1. Not only did the federal government keep its funds in the First BUS but it also had a 50% ownership stake in the bank.

True

False

1 points   

QUESTION 3

1. The First Bank of the United States lost the vote in Congress to get another charter by one vote in both the House of Representative and the Senate.

True

False

1 points   

QUESTION 4

1. Fearing that it was overextended, the Second BUS redeemed its holdings of state bank notes and the money supply contracted by nearly 50% in one year, leading to America’s first depression.

True

False

1 points   

QUESTION 5

1. While the Second BUS was able to get the Congress to approve an extension of its charter, President Jackson vetoed the legislation.

True

False

1 points   

Answer 1