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The Massecuesets Bay Colony issued the first colonial currency. This was called the spanish milled dollar
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The Cotinental did not last very long and many people lost confidence in them This resulted in the phrase "not worth a continental" becuase they became worthless
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They made many demoninations of coins
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Although the Mint Act was passed in 1792, they did ot start making coins until 1794
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In 1805 eight different branches were opened, and they were forced to back up their notes with gold and silver. This resulted in may banks closing
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Congress granted the 2nd National Bank a 20 year charter. This bank was under the control of Nicholas Biddle.
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He has been held responsible for killing the banks by 1836
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The Greenbacks were made in order to finance the Civil War
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This was inacted to creat the office of the "controller of currency" to issue charters to national banks
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The secret service was established in 1865. There purpose was to protect our nation from counterfitting
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This department made all of the paper money where as the mint made the coins.
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During this panic 10,000 of 24,000 banks failed in the U.S.
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This act lead to a demand in credit, industrialization and also established banks that were both flexible and adaptable. This was in responce to the 1907 panic.
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This was the worst economic downfall in U.S. history and many people went from being rich to extreme poverty.
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This act made U.S. made 750 million dollars of gold for sale
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The Bank Merger Act was passed. It required Federal regulation of mergers and consolidations.
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The federal reserve printed tens of billions of dollars to buy the worthless bonds of dictatorial regimes called monetizing foreign debt
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The Tax Equity and Fiscal Responcibility Act was created in order to reduce the budget gap by generating revenue through closure of tax loopholes and introduction of tougher enforcement of tax rules
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This was considered the worst financial crash since the Great Depression. This lead to many large companies recieving government bailouts.
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This bill brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression
