Which of the following statements accurately describes the Bank of the United States?
A) It would be totally owned by the federal government.
B) It had unanimous support in Congress.
C) The Constitution had specifically demanded its creation.
D) It would provide regulation of national currency.
E) President Washington ultimately opposed it.

Question

Quizplus · Accepted Answer

The Bank of the United States was created to provide regulation of the national currency, making D the most accurate statement. The other options are not accurate: A is incorrect as the bank would have private shareholders; B is incorrect as there was significant opposition to the bank in Congress; C is incorrect as there was no explicit demand for the bank in the Constitution; and E is partially correct, as Washington did have concerns about the bank but did not ultimately oppose it, making it an inaccurate statement.

Which of the Following Statements Accurately Describes the Bank of the United