The main idea in Madison's federalist paper #51 is that checks and balances can and should be put in place in a federal government in order to keep any single branch from becoming too powerful.
Answer:
Congress passed the Federal Reserve Act in 1913, when the US had functioned without a central bank since 1836 because it wanted to end the numerous financial crises faced by the nation since its founding.
Primarily, the Federal Reserve Act of 1913 created the central bank of the United States. Its purposes included the printing of currency, control of money supply, maximization of employment, and the minimization of inflation.
Explanation:
The nation needed to enjoy economic stability by having a central bank that executes the monetary policies of the Federal government. The Federal Reserve Act provided the United States government with a safer, more stable, and more flexible monetary and financial system. Since its establishment, it has worked to ensure the enthronement of an efficient national payments system, flexible money supply, and effective lending/borrowing mechanism to ease liquidity crises for the facilitation of investments and industrialization of the nation.
Answer:
The Southern economy was based primarily on cash crop agriculture, while the North had a diverse economy which included manufacturing, food staple farming and shipping.
They introduced the Proclamation of 1763.
Explanation:
- Before the French and Indian wars, the French controlled the fur trade from their bases in Canada. French merchants traded with the Native Americans in the Ohio and Mississippi valleys, even as far as the Missouri River. The French did not settle in these areas but focused on establishing trading posts.
- After the French and Indian wars, the British took over the fur trade from the French. Native American tribes were threatened by the western movement of the American colonists. The Ohio Valley Indians fought the French during the French and Indian Wars to block the colonists' Western movements.
- The Western colonist movement angered the tribes of the Ohio Valley. The settlers threatened to disrupt and destroy the lucrative fur trade now benefiting England, helping to repay debts incurred during the French and Indian wars. The western settlement had to be stopped in order to preserve peace and the fur trade with the Indians.
- The proclamation of 1763 made it illegal for any settlement west of the Appalachian Mountains.
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