1. What do you see as the socio-political impact of the "Panic
... depression, restrictionists generally advocated various controls over credit as a method of relieving the present depression and preventing future ones. Various plans were offered (in addition to insistence on strict adherence to specie payments): for example, banks should be allowed only in cities; prohibition of small denomination notes; and the prohibit ion of interbank borrowing. Hostility to banks was widespread throughout the nation, and ... many influential figures went so far as to advocate abolition of banking, or virtual abolition through imposing 100 percent reserves ... ...
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- Grade Level: Undergraduate