Question

Why was the Second Bank of the United States important to the economy?

Answer 1

Explanation:

Chartered in 1816, the Second Bank of the United States aimed to bring order and stability to a chaotic financial situation in the U.S. Instead, the bank's loose credit and paper money helped create the conditions for the Panic of 1819. ... The end of the bank led to the return of economic disorder and the Panic of 1837.

Answer 2

Answer:

1. Chartered in 1816, the Second Bank of the United States aimed to bring order and stability to a chaotic financial situation in the U.S. Instead, the bank's loose credit and paper money helped create the conditions for the Panic of 1819. ... The end of the bank led to the return of economic disorder and the Panic of 1837.