Question

QUESTION 11

1. Jay Cooke’s investment company collapsed with the Panic of 1873 along with his enormous investment in the Panama Canal.

True

False

1 points   

QUESTION 12

1. According to DiLorenzo, President Washington agreed to having the Bank of the United States in order to get the boundaries of the new capital drawn so that it ran along his property line.

True

False

1 points   

QUESTION 13

1. According to DiLorenzo, political insider trading allowed many to buy older, discounted government debt for as little as 80% of par value.

True

False

1 points   

QUESTION 14

1. According to Trask, during the War of 1812, cotton and tobacco growers in the southern states continued to trade with Great Britain as the English had made them exempt from their naval blockade.

True

False

1 points   

QUESTION 15

1. According to Trask, by the end of 1817, the 2^nd BUS had 19 branches throughout the nation.

True

False

1 points   

QUESTION 16

1. President Martin Van Buren was in office just before President Jackson.

True

False

1 points   

QUESTION 17

1. The financial panic that began two months after Van Buren took office led to only 6 of 800 banks in the U.S. still redeeming paper for specie.

True

False

1 points   

QUESTION 18

1. The key feature of the Independent Treasury System was that the federal government would accept only paper in payment and not specie, so as not to impose on the banking system.

True

False

1 points   

QUESTION 19

1. Woods argues that President Roosevelt both started and prolonged the Great Depression.

True

False

1 points   

QUESTION 20

1. The “forgotten depression” occurred in 1920-1921.

True

False

Answer 1

11. False. collapsed in the panic of 1873 because of exposure to railroad stocks.

12.false

13 false.

14. False. That was a war in between USA and British for violations of U.S. maritime rights.

16. False.

17. True.

18. True.

19. True.