The First Bank of the United States had characteristics that differ from those of the modern central bank of the United States. Which of the following is one such characteristic of the First Bank of the United States?(1 point)
Responses
The First Bank of the United States featured little corruption.
The First Bank of the United States featured little corruption.
The First Bank of the United States printed all of the nation's currency.
The First Bank of the United States printed all of the nation's currency.
The First Bank of the United States was partially owned by foreign investors.
The First Bank of the United States was partially owned by foreign investors.
The First Bank of the United States was issued an indefinite charter.
The First Bank of the United States was issued an indefinite charter.
The First Bank of the United States was issued an indefinite charter.
To answer this question, we need to identify one characteristic of the First Bank of the United States that is different from the modern central bank of the United States. To do this, we can eliminate any characteristic that applies to both the First Bank and the modern central bank.
The characteristic "The First Bank of the United States featured little corruption" is not unique to the First Bank of the United States, as it could also apply to a modern central bank. Therefore, we can eliminate this option.
The characteristic "The First Bank of the United States printed all of the nation's currency" is also not unique to the First Bank of the United States. In the modern system, the Federal Reserve is responsible for printing the nation's currency. Therefore, we can eliminate this option as well.
The characteristic "The First Bank of the United States was issued an indefinite charter" is indeed one such characteristic that differs from the modern central bank of the United States. Unlike the modern central bank (the Federal Reserve), which operates on a fixed and renewable charter, the First Bank of the United States was issued an indefinite charter.
Therefore, the correct answer is: "The First Bank of the United States was issued an indefinite charter."