Answer:
During the early 1800s, the banking industry in the United Sates was
characterized by all of the following EXCEPT (D) Widespread fraud
Explanation:
In the mid-1800s, the American government did not print paper cash yet instead stamped gold and silver coins called species. The estimation of these coins was dictated by the opinion of the metal in the coins themselves.
Individuals did not generally need to pull back their cash to buy these because regularly merchants would acknowledge the banknotes as installment. In this manner, banknotes coursed from hand to hand while the gold and silver that supported them or ensured their worth stayed in the bank.
