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first national bank
The first national bank was created on December 31, 1781 The purpose this bank was created was for people to put their money in a safe place to save it. It was also used to take out money too. -
second national bank
was built in January 1st 1816. The founder of the second national bank was due to a money crisis following the War of 1812. -
State Bank Notes
24th of January 1836. Private bank issued paper money in rapid increase with minimum regulation. State bank notes, with a large variety of colors design, were easily counterfeited. Combined, there were multiple bank failures which caused confusion and circulation problems. -
civil war
Reason it happen was like a big argument because of slavery. The reason why this happen was because some people wanted to keep their slaves because they were making money off them and others disagreed with that because they didn’t think it was right. -
In god we trust
Paper currency was first issued with the inscription “In God We Trust” in 1957. The inscription appears on all currency series 1963 and later on. -
Green backs happend
24th of January 1862. Demand Notes were replaced by United Stated Notes. Commonly called “greenbacks” because of the green tint introduced to discourage photographic counterfeiting, they were last issued in 1971 the Secretary of the Treasury was empowered by Congress to have notes engraved and printed by private bank note companies. The note were signed and affixed with seals by six Treasury department employees. -
Gold Standard
: Was created the 1st of January 1879 The gold standard was adopted to keep the price of gold level between 1879 and 1932. -
Fed
Was signed on the 23rd of December 1913. Woodrow Wilson signed the Federal Reserve Act into law, which created decentralized central bank that balanced the competing intrests of private banks and populist sentiment. -
The Stock Market crash
on the 29th of October 1929. The Whole Trading industry was effected by the stock market crash. Mainly our country was effected the most. This happened because there was too many stocks being sold at large amounts. The market payments were getting out of control. So the market crashed because customers were not coming back for the products. -
FDIC
was created on June 1st 1933. Congress establishes the FDIC which guarantees bank deposits in an effort to restore confidence in banks. The FDIC still guarantees bank deposits for an individual up to $250,000 per depositor, per insured bank, for each account ownership category.