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Maksim231197 [3]
4 years ago
10

Which is true about central banking in the United States?

History
1 answer:
Readme [11.4K]4 years ago
6 0

Answer:

<h3>It began with the creation of the First Bank of the United States. </h3>

Explanation:

  • Central banks in the US began with the creation of the First Bank of the United States on February 25, 1791. The establishment of the first central bank was introduced in the Congress by the first Secretary of the Treasury, <u>Alexander Hamilton</u>.
  • Hamilton strongly believed in a strong central banking system and urged for its creation for the economic improvement of the country. Congress finally established the First Bank of the United States with a term of 20 years charter.
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