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The nation has no medium of exchange. Federalists and Antifederalists disagree about a banking system.
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First Bank of the United States is established
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Through out the 1800's banks expanded across the nation and there were more than 700 private banks across the united states
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Period of Instability follows experation of First Bank's charter
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Second Bank of the United States reestablishes stability.
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President Jackson vetoes recharter of Second Bank in 1832, Giving rise to the free banking era
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Gold is discoverd in Sutters Creek, and later became known as Sutters Mill
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Civil War makes clear the need for a better monetary and banking system
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became widespread at banks in the 1870s. This reduced the kidnappings, but set bank robbers to work again at prying or blasting open vaults
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Te Panic of 1907 lead to the creation of the Federal Reserve System.
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The First Bank of Italy was created by A.P. Giannini
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President Wilson signs the Federal Reserve Act.
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The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.
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The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s.
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Period of government regulations and long term stability
