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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What bank was The Bank of North America modeled after?
(a) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of France.
(b) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Russia.
(c) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of England.
(d) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Germany.

2. Early banks were supported by what monetary system?
(a) Sometimes the banks were on a gold system, but most often they went to a fiat money system.
(b) Sometimes the banks were on a gold system, but most were backed by other commodities.
(c) Sometimes the banks were on a gold system, but most often they went to a silver-backed money system.
(d) Sometimes the banks were on a gold system, but most often they were backed by their governments.

3. The Rothschild family held sway over most political leaders with the exception of what historic figure?
(a) The Rothschild family held no political influence over Napoleon.
(b) The Rothschild family held no political influence over Vladimir Lenin.
(c) The Rothschild family held no political influence over Adolph Hitler.
(d) The Rothschild family held no political influence over Kaiser Wilhelm II.

4. What was the goal of the secret society founded by Lord Alfred Milner?
(a) A secret society, founded by Lord Alfred Milner, had as its goal the democratization of the entire world.
(b) A secret society, founded by Lord Alfred Milner, had global peace as its main goal.
(c) A secret society, founded by Lord Alfred Milner, had as its goal the eradication of disease and hunger.
(d) A secret society, founded by Lord Alfred Milner, had as its goal the dominance of the world through money controls.

5. What caused England to nearly go broke?
(a) The British pound suffered in the Asian market, which led to the country nearly going broke.
(b) The British pound suffered in the international markets, which led to the country nearly going broke.
(c) The British pound suffered in the European market, which led to the country nearly going broke.
(d) The British pound suffered in the US market, which led to the country nearly going broke.

Short Answer Questions

1. How did large banks react to the Federal Reserve Act?

2. What caused wildcat banks to develop?

3. What does the author predict for the U.S. economy?

4. What restrictions were placed on the Bank of Amsterdam which was established in 1609?

5. What caused the economic downturn in 1818?

Short Essay Questions

1. According to Chapter 10, what is the basic structure of the US monetary system?

2. According to Chapter 20, what was the economic outlook in the U.S. following the Civil War?

3. According to Chapter 21, what system was in control of the economy before the Federal Reserve System was established?

4. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?

5. According to Chapter 12, what event sparked the conflicts that led to World War I?

6. In Chapter 11, what place in history does the Rothschild family hold?

7. According to Chapter 24, what decade marked the beginning of a tremendous surge in U.S. debt?

8. According to Chapter 15, why was the use of fiat money disallowed in the United States?

9. According to Chapter 14, how many revolutions did Russia actually undergo?

10. In Chapter 12, what were the sales of English and French war bonds used for?

(see the answer keys)

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