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Gold Standard
In the 1780s, Thomas Jefferson, Robert Morris and Alexander Hamilton recommended to Congress the value of a decimal system. The United States adopted a silver standard based on the Spanish milled dollar in 1785. Date is incorrect. It was in 1780-1790. -
Hamiltons Proposal of national bank
Hamilton proposed that there be a constuction of a United States Bank. This is how our currency today came to be. This happened throughout the late 1780's through the early 1790's. -
1st bank of the U.S.
Chartered for twenty years. The First Bank building is now a National Historic Landmark located in Philadelphia, Pennsylvania. The intention was to: pay off all war debts, raise money for the new government, establish a national bank, and to create common currency. -
Free Banking/"Wildcat" Era
Banking was regulated by the states during this time period. This occured during the time of 1816-1863. The wildcat business' business' known to be risky. Problems such as bankrupcy and dishonesty would occur. This happened because business' would lie to customers tricking them into thinking they were a more well off bank when really they were not. March 14 was not the day this occured. For some reason it forced me to choose an actual day. When in reality there wasn't specifically a day I found. -
2nd bank of the U.S.
The second bank of the United States which began business in Jan 7 1817. It was chartered for twenty years. It is located still today in Philadelphia, Pennsylvania. -
Demand Note
A Demand Note is a type of United States paper money. It was the first paper money used. The US started using this form of payment during the Civil War to cover war expenses. Again the 14 is not the date this occured. -
National Banking Acts
The National Banking Acts of 1863 and 1864 were two United States federal banking acts that established a system of national banks, and created the United States National Banking System. Again, the date is incorrect. The years this occured were during 1863 and 1864. -
Panic of 1907
US financhal crisis that last three weeks. There were runs on banks and trust companies. The panic was triggered by the failed attempt in October 1907 to corner the market on stock of the United Copper Company. Many banks went bankrupt. Specific day unknown, it is not 14. -
Federal Reserve Act-Federal Reserve System
The Federal Reserve Act was created and established the Federal Reserve System, the central banking system of the United States of America, and granted legal authority to issue Federal Reserve Notes. -
Great Depression
The Great Depression was an economic slump or finachal crisis that began in 1929 and lasted until about 1939. -
FDIC
The Federal Deposit Insurance Corporation is the government corporation operating as an independent agency created by the Banking Act of 1933. -
Glass-Steagall Act
The provisions of the U.S. Banking Act of 1933 that limited commercial bank securities activities and affiliations within commercial banks and securities firms. -
Savings and Loan Crisis
The savings and loan crisis of the 1980s and 1990s was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995. Exact Day and Month unknown. -
Financial Institutions Reform, Recovery, and Enforcement Act
Established the Resolution Trust Corporation to close hundreds of insolvent thrifts, provided funds to pay out insurance to their depositors. This transferred thrift regulatory authority from the Federal Home Loan Bank Board to the Office of Thrift Supervision.
