What Contributed MOST to the Collapse of the Freedmen's Bank

question 26

Multiple Choice

What contributed MOST to the collapse of the Freedmen's Bank in 1874?

• A)The bank could not secure deposits because not enough blacks made enough money to keep the bank afloat.
• B)The federal government refused to take any action to assist the bank when it hit hard times after the Panic of 1873.
• C)Rich industrialists manipulated the bank for their own profit,weakening the bank's finances before a general depression brought it down.
• D)As president of the bank,Frederick Douglass insisted on loaning out money to freedpeople who had no collateral,quickly exhausting the bank's funds.

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