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the nation has no reliable medium of exchange. federalists and Antifederalists disagree about a banking system.
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First Bank of the United States is established.
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1811-1816 period of instability follows expiration of first charter.
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1816 second back of the united staes reestablishes stability.
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1830s-1860s President Jackson Vetoes Recharter of second back in 1832, giving rise to free banking era.
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1861-1863 civil war makes a clear need for a bettermonetary and banking system.
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1863-1864 National Banking Acts of 1863 and 1864 established aNational banking system and uniform currency.
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Panic of 1907 leads to the creation of the Federal Reserve System
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President Wilson signs the Federal Reserve Act
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The Great Depression begins
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President Roosevelt helps restore confidence in the Nation's bank by establishing the FDIC
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1940s-1960s. Period of government regulation and long-term stability.
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late 1960s-1970s. new laws make clear the rights and responsibilities of banks and consumers.
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1980s was a period of deregulation; S&Ls face bankruptcies.
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After two decades of mergers, the banking system emerges stable and healthy
