Western cities like Denver and San Francisco did serve as a major safety valve by providing
a. a home for new immigrants from Europe.
b. recreational activities for its inhabitants.
c. a home for economically struggling farmers, miners, and easterners.
d. subsidized and low-cost housing for immigrants from China and Japan.
e. None of these choices are correct.
Question 2
The following elements helped cause the Panic of 1819 and exacerbate its adverse economic effects except
a. the overextension of credit by western banks to dubious business and unwise ventures.
b. the overspeculation in frontier lands by the Bank of the United States through its western branches.
c. the absence of a sound, central national monetary policy by the federal government.
d. the coercive loan call-in and foreclosure demands imposed by the Bank of the United States.
e. a devastating agricultural drought throughout the nation in 1818-1819.
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