Question

Every person authorized to sign checks for a business must complete and sign a signature card for the bank.

a) True
b) False

Answer 1

The Panic of 1819 led to a widespread distrust in the Second Bank of the United States, not an increase in faith, as it was seen as a contributing factor to the economic crisis.

Step-by-step explanation:

The statement that the Panic of 1819 increased the American people's faith in the Second Bank of the United States is false. The Panic of 1819 was the first widespread and enduring financial crisis in the United States, which severely impacted the national economy and caused a widespread distrust in the Second Bank of the United States, which was seen as a contributing factor to the panic. Many US citizens and politicians criticized the bank for its lending policies, which many believed had exacerbated the economic downturn. The panic marked the end of the economic expansion that had followed the War of 1812 and featured widespread foreclosures, bank failures, unemployment, and a slump in agriculture and manufacturing. It also led to calls for reform of the Second Bank of the United States and changes in the banking system.