MinnieGirl MinnieGirl

11-05-2015
History

Answered

Which of the following did NOT contribute to the financial Panic of 1837?
a. Loose credit policies of state banks
b. Establishing of paper money as “legal tender”
c. Sudden drop in worldwide price of cotton
d.Tightened credit polices by foreign banks…notably the Bank of England

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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