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What Was President Martin Van Buren's New Solution to the Problem

Question 113

Multiple Choice

What was President Martin Van Buren's new solution to the problem of what to do about the federal government's relationship to banking?


A) He called for federal money to be deposited in state-chartered banks known as "pets."
B) He proposed the creation of the Federal Reserve Bank, with branches in key cities.
C) He created the Third Bank of the United States, but this time headed by a reliable Democrat.
D) He set up a program of federal insurance on individual bank accounts to protect them in times of panic.
E) He proposed that federal funds be controlled by government officials rather than by bankers.

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