Which of the following statements characterizes the operations of the Bank of the United States in the twenty years after its 1791 chartering?

Question

Quizplus · Accepted Answer

The statement that the bank had branches in eight major cities and had an average profit of 8 percent annually characterizes the bank's operations as successful and profitable. Option A is incorrect because Jeffersonian Republicans were strongly opposed to the Bank of the United States and worked to have its charter expire. Option C is partially correct, as the bank did serve as a central clearinghouse, but it did not have the power to prevent states from issuing paper currency. Option D is also incorrect, as the bank consistently made a profit and did not require operating subsidies from the federal government to survive.

Which of the Following Statements Characterizes the Operations of the Bank