Question

What happened when the charter for the National Bank ran out in 1811?

Answer 1

OK so basically the economy had suffered state banks made too many loans and it also lead to an increase in spending which had led to an influx in pricing 

Answer 2

Answer:

The National Bank closed in 1811, is the right answer.

Explanation:

The National Bank was the first Bank of the U.S. On 25th February  1791, this bank was chartered for a period of 20 years by the Congress of the U.S. In the year 1795 when Alexander Hamilton left his post, Oliver Wolcott, the Secretary of the Treasury, notified Congress that more money is required. This could be obtained either by selling the shares of the government or by raising taxes. Over time, the issues between the Congress and the Secretary of the Treasury evolved but the charter of the bank expired in 1811 which led to the termination of the first bank of the United States.