Question

Why were many U.S. citizens against the Second Bank of the United States, which was an attempt by Congress to restore order in the monetary system in 1816?





Citizens feared that a central bank placed too much power in the hands of the federal government.




Citizens feared that there could be a reoccurrence of “The Panic of 1807.'




Citizens believed that the Federal Reserve Districts were not assigned appropriately.




Citizens believed that the states should not be given power over the banking system.

Answer 1

Citizens feared that a central bank placed too much power in the hands of the federal government

Answer 2

The answer is: Citizens feared that a central bank placed too much power in the hands of the federal government

At that time, the citizens feared that the move to establish the second bank of united states is the effort made by united states government to gained total control of the market. They afraid that if they allow it, the would no longer have the freedom to choose the type of business they want to establish and the government would make it hard to obtain loan for businesses that they did not approve of.