and financial transactions more predictable. This reduced the problem of multiple state-chartered banks issuing their own, often unreliable, banknotes.
2. **Fiscal Management:** It provided a central repository for the federal government to manage its finances. This allowed for more efficient tax collection and the management of government debt, promoting economic stability.
3. **Encouraging Investment:** The bank offered loans and credit, encouraging investment in businesses and infrastructure. This, in turn, fueled economic growth and development.