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MinnieGirl MinnieGirl
  • 11-05-2015
  • History
Answered

Which of the following did NOT contribute to the financial Panic of 1837?

ALoose credit policies of state banks
BEstablishing of paper money as “legal tender”
CSudden drop in worldwide price of cotton

d.Tightened credit polices by foreign banks…notably the Bank of England

Verified Answer :

HistoryGuy HistoryGuy
  • 11-05-2015

"b. Establishing of paper money as “legal tender”" did not contribute to the financial panic of 1837, although loose credit policies weren't a supreme factor.

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