Which of the following was an advantage associated with the freebanking system in place in the United States during the 19th century prior to the development of the Central Bank?

• If a bank in one city went bankrupt, people in other cities would not hear about it for several weeks.
• The banking system created a very stable form of currency.
• Individuals had difficulty judging the value of a note printed by an unknown bank.
• Currency traders could make a living trading currency between cities.