The History of Banking

  • The Navigation Act

    The Navigation Act
  • Period: to

    History of Banking

  • The Stamp Act

    The Stamp Act
    The Stamp Act, the first direct tax levied by Parliament on the colonists was passed. An ecomonic boycott led to its repeal.
  • The Townshed Act

    The Townshed Act
    The Townshed Acts, called "Englands most fateful decision", established a Board of Customs Commissions in Boston.
  • Declaration of Independence

    Declaration of Independence
    The Declaration of Independence was approved.
  • Bank of North America

    Bank of North America
    The Bank of North America opened
  • George Washington

    George Washington was inaugurated as the first President of the United States.
  • The First Charter

    The First Bank of the United States was chartered by the United States Congress for 20 years.
  • First Bank

    First Bank
    The First Bank of the United States was opened.
  • The Bank Tradegy

    The First Bank of the United States is closed permanently.
  • Second Bank

    Second Bank
    The Second Bank of the United States was approved.
  • Stock Exchange

    Stock Exchange
    The establishment of the New York Stock and Exchange Board
  • American Civil War

    American Civil War
    Abraham Lincoln issued a legal tender paper money called "greenbacks"
  • National Currency Act

    The National Currency Act, creating a national currency.
  • Deutsche Bank

    Deutsche Bank
    The Deutsche Bank was founded.
  • Special Payment Resumption Act

    Special Payment Resumption Act
    The Special Payment Resumption Act provided for the redemption of United States paper currency ("greenbacks"), in gold beginning in 1879.
  • Federal Reserve Act

    Federal Reserve Act
    Federal Reserve Act created the Federal Reserve System, the central banking system of America, and granted it legal authority to issue legal tender.
  • Crash of 1929

    In the wake of the Wall Street Crash of 1929, 9,000 banks close, wiping out a third of the money supply in the United States
  • Nixon Shock

    Nixon Shock
    The Nixon Shock was a series of economic measures taken by U.S. President Richard Nixon which canceled the direct convertibility of the United States dollar to gold by foreign nations. This essentially ended the existing Bretton Woods system of international financial exchange.
  • Credit Crunch

    Start of the Late-2000s financial crisis that saw the a credit crunch that led to the failure and bail-out of a large number of the worlds biggest banks.
  • 2008 Crash

    Washington Mutual collapses, the largest bank failure in history.