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First Bank in the United States
It was a central bank. It was charted by the US congress. This bank was part of a 3 part expansion. -
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History of Banks
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Second Bank in the USA
It was bulit five years after the first bank. James Madison signed this charter. Basically a copy of the first bank. -
1,000 dollar bill
They are not in circulation anymore and there are no more bills larger than 100 dollars anymore -
Many Kinds of Money
the second Bank of the United States went out of business in 1832, state governments took over the job of supervising banks. Banks would issues "notes" as loans ,but banks didn't have enough cash to redeem the loans. So it was the bank's responsiblity to provide the cash. -
State Bank notes
With minimum regulation, a proliferation of 1,600 state-chartered, private banks issued paper money. 30,000 varieties of color and design, were easily counterfeited, which combined with bank failures to cause confusion and circulation problems. -
Banking Free era
Only State charted banks exsited. The state heavily regulated loans, intaerest rates and deposits. -
Civil War
On the brink of bankruptcy and pressed to finance the Civil War, Congress authorized the United States Treasury to issue paper money for the first time in the form of non-interest bearing Treasury Notes called Demand Notes. -
Greenbacks
Notes, Commonly called “greenbacks” because of the green tint introduced to discourage photographic counterfeiting, they were last issued in 1971. -
National Banking Act.
Provided loans to the civil war.
To create a national bank they had higher standards concering reserves and business practices. -
Gold Certificates
issued by the Department of the Treasury against gold coin and bullion deposits and were circulated until 1933.The Department of the Treasury established the United States Secret Service to control counterfeiting. -
Federal Reserve Act
Paul Warburg came up with a plan that would avert moeny panics. Jacob Schiff said "unless we have a central bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history." -
Emergency Money
Aldrich-Vreeland Act of 1908 provided for emergency currency issues during crises. The act also established the National Monetary Commission to search for a long-term solution to the nation's banking and financial problems -
Regional Federal Reserve System
Wilson insisted that the regional Federal reserve banks be controlled by a central Federal reserve board appointed by the President with the advice and consent of the U.S. Senate -
Size
Currency was reduced in size by 25 percent, and a consistent design was introduced with uniform portraits on the front and emblems and monuments on the back. -
The Great Depression
It was an Economic Slump. It was the longest and most severe depression in the westernized world. It began with the stock market collaspe -
Interstate Banking
Interstate banking was finally allowed. This created nationwide banks of many sizes. Banks also tried to force banks to give out home loans to people with poor credit. -
The 20 dollar bill gets redesigned
The 20 dollar bill got a make over haha :) -
U.S Mint
The Federal Monetary System was established with the creation of the U.S. Mint in Philadelphia. The first American coins were struck in 1793 -
50 State Quarters Program Act
Five new quarters released every year over ten years. The 50 new quarters will feature a design that honors each state's unique history and tradition. The quarters are being released in the order that the states joined the union. -
Top Bank in the World
Deutsche Bank HQ. This bank is in Germany
The top 10 banks have about $24.7 trillion in combined assets
Its assets are 2,802.71
