fttank
Answered

Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

What prompted Congress to enact the National Bank Act of 1863?

Congress passed this act to encourage the settlement of the western territories.

Confederate landowners sold slaves in the North, disrupting the labor force.

Congress needed a new law to repeal the Legal Tender Act, which was bankrupting the Union.

Union states were printing their own paper money, which led to economic instability.

Sagot :

Answer:

Congress passed the act to help resolve the financial crisis that emerged during the early days of the American Civil War (1861–1865). In order to bring financial stability to the nation and fund the war effort, the National Bank Act of 1863 was introduced in the Senate in January of that year.

Explanation:

Answer:

Union states were printing their own paper money, which led to economic instability.

Explanation:

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.