U.S Banking timeline By Angela Ma Feb 25, 1811 The first bank of United States is proposed. Jan 1, 1816 Congress chartered the second Bank of United States. Period: Dec 24, 1830 to Dec 25, 1837 The numbers of state-chartered banks nearly tripled. Jul 10, 1832 President Andrew Jackson vetoed the bank renewal.(Bank Veto) Period: Jan 1, 1837 to Jan 1, 1863 Free Banking Jan 1, 1860 Estimated 8,000 different bank were circulating currency. Dec 24, 1861 The United States Treasury issued its first paper currency since the Continental. Dec 23, 1913 The Federal Reserve system act. Oct 29, 1929 The Great Depression began. Mar 9, 1933 Franklin acted to restore public confidence in the nation banking system.
