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What is one reason why many people distrusted the banking system during the free banking era of the first half of 1800s?
During the free banking era of the first half of the 1800s, many people distrusted the banking system due to the lack of regulation and oversight, which allowed banks to issue their own currency without standardized backing. This led to frequent bank failures and the issuance of banknotes that were not redeemable for gold or silver, making them unreliable. Additionally, the absence of a uniform banking system contributed to widespread speculation and financial instability, further eroding public confidence.
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What was a major reason for declining importance of state governments during the 1960?
The national government distrusted states due to racism in the South
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