Test Your KnowledgeReturn to Jekyll Island Click on the letter of your choice to test your understanding.
Question 1 What event in U.S. history in the early 1900s resulted in a call for reform of central banking?
Question 2 During the Panic of 1907, the U.S. Treasury contributed $25 million to help rescue the economy. Which of the following was NOT part of the additional rescue efforts that occurred during the panic?
Question 3 The ________________ established a commission tasked with studying the causes of the Panic of 1907 and developing a plan for a major overhaul of the nation’s financial system.
Question 4 The Aldrich-Vreeland Act called for the creation of an 18-member committee to draft a proposal of reform for the banking and financial system. This committee was called the
Question 5 To break the gridlock and draft the report due to Congress, _____________ called a secret meeting in Jekyll Island.
Question 6 The first and second Banks of the United States failed in part because of the public’s perception that:
Question 7 The draft legislation that resulted from the meeting on Jekyll Island was known as the ____; its terms called for the establishment of ____ regional banks called Reserve Associations to be part of a central banking system.
Question 8 Which of the following is a duty specified for the Reserve Associations under the Aldrich Plan?
Question 9 Under the Aldrich plan, the central banking system would be led by a board with ____ members headed by a ______.
Question 10 The Aldrich Plan did not successfully achieve passage due to what concern?