The History of Banking till 1913

Timeline created by voall0000
In History
  • The First Bank Of the United States

    The First Bank Of the United States
    George Washington's Secretary of the Treasury, Alexander Hamilton, believed that without a strong central government and a strong bank, the new nation would eventually fail. But although it seemed like a great idea Thomas Jefferson highly disagree with this idea believing that it would destroy the balance of power.... and with disregarding Thomas Jefferson's opinion the bank was chartered in February 25, 1791.
  • By the year of 1805 The First bank of America had a total of 8 branches

    By the year of 1805 The First bank of America had a total of 8 branches
  • The First Bank of America Charter Was not renewed

    The First Bank of America Charter Was not renewed
    On a vote of 65 to 64 by the House of Representative The First Bank of America Charter was not renewed.
  • The Second Bank of America was Established

    The Second Bank of America was Established
  • The biggest enemy of the Bank President Andrew Jackson takes office

    The biggest enemy of the Bank President Andrew Jackson takes office
  • The Failure of renewing the bank charter

    The Failure of renewing the bank charter
    Senatore Henry Clay failed attempt of renewing the bank's charter
  • The Second Bank of American weaking and fading away

    The Second Bank of American weaking and fading away
    The Second bank of america although lasted 4 years longer then its predecessor died off and became bankrupt
  • The Second Bank of America goes bankrupt

    The Second Bank of America goes bankrupt
  • The National Banking Act of 1864

    The National Banking Act of 1864
    It established the office of the Comptroller of the currency to issue natinoal bank notes. These bank were authorized to issue national bank noites
  • The Federal Reserve Act was created

    The Federal Reserve Act was created
    The Federal Reserve Act created a system to stabilize the banking system.