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The Nation has no reliable medium of exchange. Federalists and Antifederalista disagree about a banking system.
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First Bank of the United States is established.
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Period of instability follos expiration of First Bank's charter.
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Second Bank of the United States reestablishes stability
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President Jackson vetoes recharter of Second Bank in 1832, givingg rise to the Free Banking Era.
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Civil war makes clear the need for better monetary and banking system.
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President Wilson signs the Federal Reserve Act.
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The Great Depression begins
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President Roosevelt helps restore cn the nation's banks by establishing the FDIC.
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Period of governemnt regulation and long-term stability
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Period of deregulation; savings and loans face bankruptcies.
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In 2007, a result of the subprime mortgage crisis ia s sharp increase in the number of people who lose their homes because they cant pay their mortage. this leads to the worest economic crisis since World War 2
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National Banking Acts of 1863 and 1864 establish national banking system and uniform national currency