Banks in gold-rush California were

Name: Banks in gold-rush California were
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Banks were not positively encouraged by the state constitution, but rather were allowed to operate under a general law. The state legislature was also not particularly generous in granting charters to banks, and in fact imposed strict regulations on their operations. While some residents may have been eager for the convenience of paper money, there were also many who were skeptical or opposed to the banking system.

Banks in Gold-Rush California Were