Saturday, August 6, 2011

The most important function of the Second Bank of the United States was to...

  • make a profit for the federal government through judicious loans to entrepreneurs.
  • keep the economy in equilibrium by raising or lowering interest rates in response to changes in the capitalist business cycle.
  • stabilize the nation's money supply by forcing state banks to periodically convert their paper money into gold and silver coin.
  • serve as a clearinghouse for foreign investments and currency. 

ANSWER: The most important function of the Second Bank of the United States was to stabilize the nation's money supply by forcing state banks to periodically convert their paper money into gold and silver coin.

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