American Banking

Timeline created by CiaraRentz
In History
  • Federalist vs. Antifederalist

    The Federalist and Antifederalsit disagree about banking.

    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.

    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.

    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.

    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.

    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.

    The period of deregulation and bankruptcies.

    After 2 decades of mergers, the banking system becomes stable and healthy.