US Banking and Economy 1830s
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Questions and Answers

What was the approximate increase in the number of state-chartered banks between 1830 and 1836?

  • 384
  • 713 (correct)
  • 684
  • 844

What was the percentage increase in paper banknotes per capita in circulation in the United States between 1834 and 1836?

  • 40 (correct)
  • 30
  • 20
  • 50

What was the primary factor that encouraged British capitalists to invest in America during this period?

  • High interest rates in the United States
  • Government incentives in America
  • Economic downturn in Great Britain
  • Low interest rates in Great Britain (correct)

What was the approximate increase in American foreign indebtedness between 1834 and 1836?

<p>$220 million (A)</p> Signup and view all the answers

What was the source of the information regarding American foreign indebtedness and the increase in paper banknotes per capita?

<p>America’s First Great Depression: Economic Crisis and Political Disorder after the Panic of 1837 (B)</p> Signup and view all the answers

Study Notes

Banking and Finance in the 1830s

  • The number of state-chartered banks in the United States increased from 329 in 1830 to 713 in 1836.
  • The volume of paper banknotes per capita in circulation in the US increased by 40% between 1834 and 1836.
  • Low interest rates in Great Britain led to British capitalists making risky investments in America.
  • American foreign indebtedness increased from $110 million to $220 million between 1834 and 1836 due to the surge in British lending across the Atlantic.

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Learn about the growth of state-chartered banks and the surge in paper banknotes in circulation in the United States during the 1830s.

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