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First Bank of the United States established
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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
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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
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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
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Start of Stronger Credit
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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
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Great Depression through the thirties
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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
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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
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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
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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
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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
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
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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.
