Respuesta :
The effects of the lack of a banking system in early America are: The barter system was commonplace, Land banks were created, and Local governments often would issue currency.
A banking system is a network of establishments that offers us financial services. These institutions are responsible for managing the payment system, lending money, taking deposits, and offering financial advice. India's financial system has the following characteristics: Has to do with money.
A bank's job is to accept deposits from the general public and use those deposits as collateral for loans that support the growth of commerce, industry, and agriculture. Bank earns greater interest rates on loans and advances from depositors while paying lower interest rates to depositors on their deposits.
The given question is incomplete, the complete question is:
What were the effects of the lack of a banking system in early America? (Select all that apply)
Multiple select question.
(A) The barter system was commonplace.
(B) Land banks were created.
(C) Local governments often would issue currency.
(D) Great Britain established local banks in America.
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