-
1780s
The Nation has no reliable medium of exchange. Federalists and Antifederalista disagree about a banking system. -
1791
First Bank of the United States is established. -
1811-1816
Period of instability follos expiration of First Bank's charter. -
1816
Second Bank of the United States reestablishes stability -
1830s-1860s
President Jackson vetoes recharter of Second Bank in 1832, givingg rise to the Free Banking Era. -
1861-1863
Civil war makes clear the need for better monetary and banking system. -
1913
President Wilson signs the Federal Reserve Act. -
1929
The Great Depression begins -
1933
President Roosevelt helps restore cn the nation's banks by establishing the FDIC. -
1940-1960s
Period of governemnt regulation and long-term stability -
1980s
Period of deregulation; savings and loans face bankruptcies. -
2000s
In 2007, a result of the subprime mortgage crisis ia s sharp increase in the number of people who lose their homes because they cant pay their mortage. this leads to the worest economic crisis since World War 2 -
1863-1864
National Banking Acts of 1863 and 1864 establish national banking system and uniform national currency