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First Bank of the United States established
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Congress passes the Coinage Act
The U.S. had to have a uniform currency , to be able to distribute it to all the states. -
Second Bank of the United States established
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Panic of 1907
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Federal Reserve System established
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Period: to
Stronger credit
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Period: to
Credit made available for most Americans
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Stock Market Crash
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J.P. Morgan and Co. announce that the group formed to halt the market crash on October 24-29, has sold all its shares and is disbanded.
The group that was formed to stop the stock market crash sold all of it's stocks -
Period: to
Great Depression
Decade of consumer distrust of credit and investment -
FDIC established
The Banking Act was put in palce and insured bank accounts -
Period: to
Stable inflation rates: low interest rates
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The United States Savings Bonds Division in the Treasury Department continued the programs of the War Finance Division, the War Savings Staff and the Defense Savings Staff.
The government tried to get rid of it's debt by selling bonds. -
Period: to
Rapid economic growth
Overuse of credit: high inflation rate: consumer credit protection legislation: birth of credit counseling -
Period: to
Credit as a major marketing tool across industries
major stock market gains; longest peace time expansion -
Stock market peaked
people kept investing because they kept making money which made the stock market reach it's all-time high -
Terrorist attack the World Trade Center, the Pentagon, and Pennsylvania led to major stock market losses.
