Pig

Banking History Timeline

By wordwelder
  • First Bank of the United States established

    First Bank of the United States established

  • System of Excise Taxes is established

    After the first bank of the United States was established, the excise taxes allowed for more revenue to be produced.
  • Second Bank of the United States Established

    Second Bank of the United States Established

  • President Jackson attacks the 2nd Bank of the United States

    This is because of the outright corruption of the second bank at the hands of Nicolas Biddle
  • Federal Reserve System Established

    Federal Reserve System Established

  • War Loan to Great Britain and France

    Because of the Federal Reserve act, there was money available to loan to foreign countries.
  • Credit is made available to most Americans

    Credit is made available to most Americans

  • Start of Stronger Credit

    Start of Stronger Credit

  • Tariff Act

    Because credit was more available, this cause economic prosperity which in turn caused people to want to secure American business with the Tariff Act.
  • Stock Market Crash

    Stock Market Crash

  • Great Depression through the thirties

    Great Depression through the thirties

  • J.P. Morgan and Co. disbands

    This was due to the stock market crash which caused J.P. Morgan to sell all of its shares.

  • Eight hundred banks are closed within two months

    Stock CrashThis is due to the Great Depression, causing banks to go broke and forcing them to close.
  • Inflation Raises Steadily with low Interest Rates

    Inflation Raises Steadily with low Interest Rates

  • President Roosevelt raises the Debt Ceiling to 65 billion dollars

    The steady inflation and low interest rates encouraged more spending, which consequently raised the debt ceiling.
  • Inflation Rises Steadily and low interest rates

    Inflation Rises Steadily and low interest rates

  • President Eisenhower allots 47,654,000,000 for defense

    This was due to steady inflation rates of the 40's, 50's and 60's, which allowed for more spending in categories such as national defense.
  • Rapid economic growth, overuse of credit, high inflation rate, consumer credit protection, birth of credit counseling

    Rapid economic growth, overuse of credit, high inflation rate, consumer credit protection, birth of credit counseling

  • President Ford announces 51,500,000,000$ of deficit

    This was caused by overuse of credit and high inflation rates.
  • Credit is made available to most Americans

    Credit is made available to most Americans

  • FLETC graduates 97,000 law enforcements students in its first decade

    This is because of credit availability which in turn made for a higher quality of living.
  • Credit becomes marketing tool, major stock market gains and longest peace time expansion

    Credit becomes marketing tool, major stock market gains and longest peace time expansion

    lasted a decade.

  • Output increased, inflation becomes managable and unemployment drops below 5%

    This is due to the prosperity of the nineties, causing economic conditions to become favorable.
  • Terrorist Attack on the World Trade Center, Pentagon, and Pennsylvania causes major stock losses

    Terrorist Attack on the World Trade Center, Pentagon, and Pennsylvania causes major stock losses

  • America goes into a Recession

    After 9/11 the stock market suffered huge losses but U.S. government encouraged its citizens to spend more money which ultimately lead to the many bank failures, foreclosures and high unemployment rates.

  • U.S. loans Germany 200 million dollars for reparation

    This was caused by stronger credit, making funds more available.