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Period: to
Date
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First Bank of the United States established
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Congress passes the Coinage Act, which establishes a mint and prescribes a decimal system of coinage.
The United States had to have a uniform currency to be able to distribute it to all the member states, -
1920-1980 Credit made available to most Americans.
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By increasing bank reserve requirements the Federal Reserve Bank effectively took money out of circulation and triggering the Great Depression.
With less money in circulation, people began to use credit more and eventually lost all their money. -
Stock Market Crash
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1940s-1960s Stable inflation rates; low interest rates.
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The Dow Jones Industrial Average fell 508 points, marking the worst one-day collapse in history.
After such a huge decline, the stock market picked back up in the 90s. -
1990s Credit as a major marketing tool across industries; major stock market gains; longest peace time expansion.
