asked 108k views
4 votes
What were the effects of abolishing the National bank in 1811?

1 Answer

2 votes

It resulted in difficulties in financing the war of 1812

the Bank of the United States was established in 1791 to serve as a repository for federal funds and as the government’s fiscal agent. Failure of Congress to renew its charter led to difficulties in financing war


answered
User George Petrov
by
8.2k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.