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The First Bank if the U.S.was created to help with war debt and to help the government.
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The War of 1812 made cause for the Second Bank of the U.S.when federal debt and government troubles started again.
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President Madison signed a bill in 1816 that made the Second Bank official which lasted fro 20 years.
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By 1860, more than 10,000 bank notes were begun used throughout america.
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In response, the Congress passed the N ational Currency Act in 1863
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In 1864, President Lincoln signed a revision of the National Currency Act. These laws helped establish new systems of banking.
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The Fed Reserve started in 1913.
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National bank notes were the mainstay of the nations money supply until Federal Reserve notes appeared in 1914
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The Great Depression started in 1929, which was a disaster for the banking systems.
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In the last quarter of 1931 alone, more than 1,000 U.S. banks failed.
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In June 1933, Congress enacted federal deposit insurance.
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Glass-Steagal Act of 1933
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The day after President Franklin D. Roosevelt became president, he declared a bank holiday.
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On June 16,1933, President Franklin D. Roosevelt signed the Banking Act of 1933.
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In 1935, Congress passed another law that limited the number of banks and retired the national currency first issued under OCC supervision in 1863.