Which bill did John Sherman work on to restore the nation's credit abroad?
Federal Reserve Act
Gold Standard Act
National Banking Act
None of the above
Answer
The National Banking Act, introduced by John Sherman, played a crucial role in revitalizing the nation's credit standing in the international arena. This legislation established a system of national banks, setting standards for currency issuance and reserve requirements. It also created the Office of the Comptroller of the Currency to supervise and regulate these institutions, ensuring stability and public trust in the financial system.
The Remarkable Journey of John Sherman: Test Your Knowledge!
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