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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
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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
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The biggest enemy of the Bank President Andrew Jackson takes office
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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 america although lasted 4 years longer then its predecessor died off and became bankrupt -
The Second Bank of America goes bankrupt
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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 created a system to stabilize the banking system.
