History of Banking

  • Period: to


    Nation does not have the same currency. Federalists and Antifederalists disagree about the banking system.
  • A First

    A First
    First bank of the United States created
  • Period: to


    Period of instability follows expiration of First Bank's Charter
  • Second!

    Second Bank of the United States created!
  • Period: to

    Jackson is in the house.

    President Jackson vetoes recharter of Second Bank in 1832, giving rise to Free Banking Era.
  • Period: to

    Finally United

    National Baking Acts of 1863 and 1864 establish national banking system and uniform currency.
  • Fire

    Fires destroyed all banks, but the contents in the vault still survived.
  • Panic!

    Panic of 1907 leads to the creation of the Federal Reserve System
  • Wilson signs act

    Wilson signs act
    President Wilson signs the Federal Reserve act
  • Great depression

    Great depression
    the great depression begins
  • FDIC

    PResident Roosevelt helps restore confidence in the nartions banks by establishing the FDIC.
  • Period: to

    Stablility! Yay!

    Period of government regulation and long-term stability.
  • Period: to

    Time for some new laws...

    New laws make clear the rights and responsibilites of banks and consumers
  • First ATM

    The Automated Teller Machine was created
  • Uh oh...

    Period of deregulation; S&L's face bankruptcies
  • All better!

    After 2 decades of mergers, the banking system emerges stable and healthy