Asked by Kayla Piercy on Apr 24, 2024
Verified
The Independent Treasury completely separated the federal government from the nation's banking system.
Independent Treasury
A system used by the United States in the 19th century whereby the government managed its own funds independently of the national banking and financial systems.
Federal Government
The national government of a federal country, which holds the authority to govern shared matters while coexisting with the governments of the individual states.
Banking System
The network of institutions that facilitate the exchange of money between savers and borrowers, including personal and commercial banking services.
- Assess the role of economic policies and crises, such as the Panic of 1837 and the Independent Treasury system, on the development of the American economy.
Verified Answer
MC
mickayla campos7 days ago
Final Answer :
True
Explanation :
The Independent Treasury Act of 1846 established a system where the U.S. government held its own deposits independently of the national banking system, effectively separating its finances from private banks.
Learning Objectives
- Assess the role of economic policies and crises, such as the Panic of 1837 and the Independent Treasury system, on the development of the American economy.