What Was the Purpose of the "Subtreasury Plan

question 47

Multiple Choice

What was the purpose of the "subtreasury plan"?

• A) It promoted deflation by withdrawing silver certificates from circulation.
• B) It reestablished the gold standard.
• C) It reclaimed unused land from the railroads.
• D) It allowed farmers to secure low-interest government loans.
• E) It said that the national bank could pull supplemental cash from private banks.

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Definitions:

Concealment

In contract law, taking active steps to prevent another from learning the truth.

Nondisclosure

The obligation to keep certain information confidential and not share it without authorization, typically enforced through agreements.

Innocent Misrepresentation

a false statement made without knowledge of its falsity, but not intended to deceive, which may allow for some remedies if it leads another party to enter into a contract under false pretenses.

Scienter

In cases of fraud and deceit, the word means knowledge on the part of the person making the representations, at the time when they are made, that they are false. In an action for deceit, scienter must be proved.