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The fall of the second United States in 1836 created a patchwork banking system during the mid-1800s.
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In early 1861 nine of the southern states had a combined total of 121 charter banks.
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By 1861 most of the country's 1,601 state-chartered banks were issuing paper money of questionable value.
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By the end of the war, in 1865, no banks existed in North Caroline, Mississippi, or Florida. Only three banks still operated in Georgia, and South Carolina had only one.