The first banking crisis of the 1930s was probably caused by
a. low farm prices.
b. the stock market crash.
c. antagonism between Wall Street banks and Main Street banks.
d. Bank of England attempts to preserve the gold standard by raising interest rates.
Question 2Robert Fulton is most recognized for
a. inventing of the cotton gin.
b. building the first steamboat.
c. being one of the primary advocates of the abolition movement.
d. developing the technology to power railroad engines.
Question 3Britain's departure from the gold standard in September 1931 ____ bank closures in the United States because ____.
a. decreased, the British decided to invest their gold in the U.S
b. increased, anyone who wanted gold had to withdraw it from U.S. banks
c. decreased, Britain could now follow expansionary monetary policies at home
d. increased, people realized that the United States was about to bail out Britain with large loans
Question 4Which statement best describes the relationship between steamboats, keelboats and flatboats on the Mississippi River in the antebellum period?
a. Steamboats were substitutes for both keelboats and flatboats.
b. Steamboats were complements for both keelboats and flatboats.
c. Steamboats were substitutes for keelboats and complements for flatboats.
d. Steamboats were substitutes for flatboats and complements for keelboats.
Question 5The failure of the Bank of the United States in December 1930 probably intensified the banking panic for each of the following reasons except that it proved that ___
a. the Fed might fail to act as a lender of last resort.
b. big banks could fail.
c. New York Banks could fail.
d. that Wall Street banks could fail.
Question 6All of the following statements present accurate information about the major antebellum transport routes except:
a. The Northeastern Gateway connected Pittsburgh to Philadelphia and Wheeling to Baltimore.
b. The Southern Gateway was primarily a water-based route.
c. The Mid-Atlantic Gateway connected Savannah and Charleston to Washington, DC via roads and railroads.
d. The Northern Gateway included the Erie Canal.
Question 7During the 1930s,
a. ordinary citizens were not allowed to hold gold.
b. the US government fixed the price at which the Treasury would by and sell gold.
c. production of gold soared.
d. All of the above are correct.
e. Only a and b are correct.
Question 8Until the 1840s, the leading transport route in the US (in terms of volume of freight from the West) was:
a. the Northern Gateway.
b. the Northeastern Gateway.
c. the Southern Gateway.
d. the Erie Canal.
Question 9During the Federal Bank Holiday ordered by President Roosevelt
a. new supplies of gold were distributed to the banks.
b. a national monetary commission was set up.
c. the banks were inspected.
d. the leadership of the Federal Reserve System was replaced.
Question 10The sharp decline in domestic freight costs during the antebellum period was primarily due to the introduction of:
a. railroads.
b. paved roads.
c. clipper ships.
d. canals and steamboats.
Question 11During the Federal Bank Holiday ordered by President Roosevelt and the week that followed it,
a. new supplies of gold were distributed to the banks.
b. a national monetary commission was set up.
c. the banks were inspected.
d. actions were taken to take the US off the gold standard
e. Both c and d are correct.
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