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continental congress printed first paper money.
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congress established first bank in the US
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congress agreed to charter second bank then president jackson vowed to kill it.
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state chartered and unchartered banks took hold during this time period.
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during civil war national banking act was passed.
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banking panic triggered worst depression the US has ever seen
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a bout of speculation on wall street ended in failure.
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the aldrich-veerland act of 1908 passed as an immediate response tot he panic of 1907
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throughout most of 1912 glass and willis labored over a central bank proposed and by december 1912 they presented wilson with what would become the fed reserve act.
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income tax established
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jp morgan & co finances from both sides of war.
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a national bank holoday was ordered closing all banks for 4 days and silver dollar production was halted
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168 fdic insured banks fail.
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fed reserve sets off new bust by making loans and adjustable rate morgages more expensive
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jp morgan chase reports record profits