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What were some of the weaknesses of the national banking system that gave rise to the...

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Finance

What were some of the weaknesses of the national banking systemthat gave rise to the Federal Reserve Act?

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The national banking act of 1863 and 1864 was made to give more rights to federal banks than state banks The banking system was good enough in issuing notes but it also had certain problems and weaknesses in it which led to creation of federal reserve Some of the main weaknesses of this banking system was inelasticity in issuing notes immobility of the reserves and absence or    See Answer
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What were some of the weaknesses of the national banking systemthat gave rise to the Federal Reserve Act?

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