When the U.S. was still a colony of Great Britain, land banks were created to lend money to farmers.

Name: When the U.S. was still a colony of Great Britain, land banks were created to lend money to farmers.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

Land banks were indeed established in the American colonies to lend money to farmers, offering an early form of credit by using land as security for loans. This helped farmers to finance their operations when traditional forms of credit were not available or were too costly.