The hard money faction that opposed the Bank of the United States believed that:

• A. the Bank of the United States should have exclusive control over issuing currency
• B. currency should be backed by gold and silver rather than paper notes
• C. the government should print more paper money to stimulate the economy
• D. state banks should be allowed to issue unlimited amounts of paper currency

Answer: (B)

Verified step by step guidance

1. Understand the historical context: The hard money faction was a group that opposed the Bank of the United States and had specific beliefs about currency and banking.
2. Identify the key belief of the hard money faction: They favored currency backed by tangible assets like gold and silver, rather than relying on paper notes which could be issued in excess.
3. Recognize that the hard money faction distrusted paper money because it could lead to inflation and instability if not backed by precious metals.
4. Contrast their view with other options: They did not support exclusive control of currency by the Bank of the United States, nor did they advocate for printing more paper money or unlimited issuance by state banks.
5. Conclude that the core belief of the hard money faction was that currency should be backed by gold and silver, ensuring its value and stability.