Questions: In the 1830s, what was one argument in favor of the Second National Bank? The bank would serve as a foundation for the new economy. The bank kept the value of printed currency stable and steady. The bank helped pay down the debt from the American Revolution. The bank helped benefit the wealthy class and extend its influence.

In the 1830s, what was one argument in favor of the Second National Bank?
The bank would serve as a foundation for the new economy.
The bank kept the value of printed currency stable and steady.
The bank helped pay down the debt from the American Revolution.
The bank helped benefit the wealthy class and extend its influence.
Transcript text: In the 1830s, what was one argument in favor of the Second National Bank? The bank would serve as a foundation for the new economy. The bank kept the value of printed currency stable and steady. The bank helped pay down the debt from the American Revolution. The bank helped benefit the wealthy class and extend its influence.
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Solution

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The answer is the second one: The bank kept the value of printed currency stable and steady.

Explanation for each option:

  1. The bank would serve as a foundation for the new economy.

    • This is not a primary argument from the 1830s. The focus was more on stability and regulation rather than being a foundational element.
  2. The bank kept the value of printed currency stable and steady.

    • Correct. One of the main arguments in favor of the Second National Bank was its role in stabilizing the currency and providing a uniform national currency.
  3. The bank helped pay down the debt from the American Revolution.

    • This was more relevant to the First National Bank, which was established to manage Revolutionary War debt.
  4. The bank helped benefit the wealthy class and extend its influence.

    • This was actually an argument against the bank, as critics claimed it favored the wealthy elite.

In summary, the Second National Bank was primarily supported for its ability to stabilize the currency.

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