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First paper money is introduced to the colonies by the Massachusetts Bay Colony .
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The official monetary system becomes based of the dollar.
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Established in Philadelphia, Pennsylvania and named the Bank of North America.
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Congress passes The Coinage Act, which creates the Mint and authorized construction of a Mint building at the nation's capital, Philadelphia.
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First American coins made in 1793.
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Manages 25 branch offices nationwide by 1832.
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1,600 state-chartered, private banks issue state bank notes.
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As the Gold Rush progresses, local banks and gold dealers issued banknotes or drafts, locally accepted paper currency, in exchange for gold.
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Congress authorizes the United States Treasury to issue paper money for the first time in the form of non-interest bearing treasury notes, called demand notes.
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United States Notes, or Greenbacks, were last issued in 1971.
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The Department of the Treasury establishes the United States Secret Service to control counterfeits.
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The first time lock is installed to prevent criminals from extracting vault information from employees and stop entry by staff at unauthorized times.
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Banks destroyed, leaving the vaults heated but in tact.
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Created by an Act of Congress to serve as the nation's central bank.
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Unemployment in the US rises to 25% and internations trade plunges by 50%. An average of 70 banks fail annually.
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Currency is reduced in size by 25% and standardized with uniform portraits on the faces and emblems and monuments on the back.
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In order to restore public confidence in the nation's banking system, Roosevelt calls for all nation's banks to close.
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A security thread is a thin ribbon threaded through a note's paper to prevent conterfeiting.
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Checks become a new method of payment without the need to carry large amounts of money.
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Congress requires all currency issued with the inscription "In God We Trust". All currency Series 1963 and beyond is printed with this statement.
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Called the Docuteller, the machine was installed in a wall of the Chemical Bank in Rockville Centre, New York.
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The distinction between commercial and savings banks is virtually eliminated.
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Abolishes the independence of the savings and loan industry and transferred insurance responsibilities to the FDIC.
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Five new quarters released every year between 1999-2008.
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Oversized pictures of Abraham Lincoln and Alexander Hamilton are slightly off-center and makes conterfeiting more difficult.
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Number of banks increases, interest rates are lowered and a housing boom occurs.
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Also called Check 21, substitues paper checks for digital images which can then be used to process checks electronically.
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Designed to reduce the regulatory burdens on banks, savings and loans, and credit unions.
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Failure of major US banks causes the Stock Market to lose 21% of its value in a week.
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President Roosevelt establishes the FDIC to provide deposit insurance to banks snd regulate state non-member banks
