Our system of national banks

Question

Quizplus · Accepted Answer

The system of national banks was established during the Civil War in 1863 through the National Banking Act. It was designed to create a stable national currency and fund the Union's war effort. While the Federal Reserve Act of 1913 established the Federal Reserve System, the national banking system still exists today as a crucial part of the country's financial structure. So, option A and B are incorrect. Option C is also incorrect as the national banking system still exists.

Our System of National Banks