Business

20 July, 04:10

Why would the banks in the United States in the mid-1800s have used a gold and silver standard?

A: People would not trust paper money if it were not backed up by something that had real value.

B: It was more secure against theft than paper money because it weighed too much for a thief to carry away.

C: The gold rush and some rich silver mines meant there was a lot of gold and silver available.

D: Federal law required that all money had to be backed by gold and silver.

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