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The elimination of the national bank removed restraints from regional and local banks, enabling them to behave more irresponsibly than ever. Getting rid of the BUS, whose notes had constituted the most reliable form of paper money, only exacerbated the difficulties that continued to plague the currency until the Civil War. On the other hand, improvements in communication and transportation helped stabilize the currency as well as minimize price differentials around the country.
What Hath God Wrought: The Transformation of America, 1815-1848
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