What did the National Bank Act of 1863 do?
A) It created a national bank in each Confederate state.
B) It established criteria by which a bank could get a federal charter and issue national bank notes.
C) It declared that it was a conflict of interest, and therefore illegal, for federally chartered banks to purchase federal war bonds.
D) It tied the value of Confederate currency to the price of cotton on the European market.
E) It took the Union off the gold standard.
Correct Answer:
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