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What Did the Legal Tender Act of 1862 Do

Question 37

Multiple Choice

What did the Legal Tender Act of 1862 do?


A) It called for the coinage of money to be in gold only because it would protect the interests of big business.
B) It forbade national banks and gave more power to the state banks in developing their own currencies.
C) It forbade the printing of paper currency because the Republican-dominated Congress thought it would destroy the economy.
D) It for the first time allowed for the printing of a national paper currency to help pay for the Civil War.
E) It gave eastern businesses tax breaks and made it more difficult for new western states to become a part of the national economy.

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