How did the Second Bank of the United States react to the Panic of 1819?
Responses
The bank forgave the loans of its debtors, increasing the amount of money in the economy. The bank forgave the loans of its debtors, increasing the amount of money in the economy.
The bank started to print more money in a policy called quantitative easing. The bank started to print more money in a policy called quantitative easing.
The bank ordered its debtors to pay back their loans immediately and decided to limit the amount of money in the economy.The bank ordered its debtors to pay back their loans immediately and decided to limit the amount of money in the economy.
The bank did not take any action, allowing the market to correct itself naturally.