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Federalist vs. Antifederalist
The Federalist and Antifederalsit disagree about banking. -
GOLD! GOLD! GOLD!
Goldsmiths became first bankers. Gold Rush in California lead to many new banks. -
The First Bank
The very first bank formed in 1791 and opened in Philidelphia in 1782. It was opened by congress and named The North American Bank. -
Creation of new banks
By the 1800's, over 700 banks were created. -
crisis!
A period of instability follows expiration of First Bank's charter. -
gaining stability
Second Bank of US becomes stable. -
The rise to the Free Banking Era.
President Jackson vetoes recharter of Second Bank in 1832. -
The need for banking systems
Civil War occurs and creates need for a better banking systems. -
The New Acts!
National banking acts establish new banking systems and uniform currency. -
EXTREME CONDITIONS!
An earthquake and firestorm destroys all infrastructure and ruined the Volts at many banks. -
We Have Your Back!
Panic of 1907 leads to creation of Federal Reserve System. -
Just SIGN IT!
President Wilson signs the Federal Reserve Act. -
ANOTHER CRISIS!!!!
A "bank cry" broke out and many people lost confidence in their banks. -
decreasing <<
The Great Depression caused the 25,000 banks in the 1920's to go down to 14,000 banks in 1933. -
ughhhhh....
The Great Depression begins. -
COMMONLY USED TODAY...
In 1930, Bank of America was created. -
We will take care of you!
President Roosevelt established the FDIC with gives people confidence in the nation's banks. -
New Technology
Scientist developed ERMA, an electronic method of counting. -
VISA VISA VISA!
The first credit card was created in California in 1959. Visa was created in 1969. -
Gaining confidence in our banks
The government starts to regulate and creates long term stability. -
Newer ways to get your money quick!
By 1968, there were more than 850,000 ATM'S around the world. -
Responsible Banks
New laws make clear the rights and responsibilities of bankers and consumers. -
BANKRUPT!!!
The period of deregulation and bankruptcies. -
PAST-PRESENT
After 2 decades of mergers, the banking system becomes stable and healthy.