The National Banking Acts of 1863 and 1864 Provided That

Multiple Choice

The National Banking Acts of 1863 and 1864 provided that

A) national banks could issue their own notes only against U.S. government bonds the banks held on deposit with the Treasury.
B) national banks could issue their own notes only against cash held in their vaults.
C) national banks could issue their own notes only against U.S. government bonds the banks held on deposit with the Federal Reserve Bank.
D) none of the above.