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Establishment of the Bank was included in a three-part expansion of federal fiscal and monetary power.
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It provided national currency and acted as the government's fiscal agent.
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A private corporation with public duties, the central bank handled all fiscal transactions for the US Government, and was accountable to Congress and the US Treasury.
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Attacks the bank of the United States.
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World War 1.
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established Postal Savings Depositories
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Is the central banking system of the United States
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American bankers, organized by J.P. Morgan and Co., agree to lend Great Britain and France five hundred million dollars, the largest loan floated in any country.
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Most credit was givn to people so they could buy houses and cars.
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People were learning how to build stronger credit.
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only two thirds the size of the old, goes into circulation.
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Decade of consumer distrust of credit and investment.
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inflation is a rise in the general level of prices of goods and services in an economy over a period of time.
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Overuse of credit, high inflation rate, consumer credit protection legislation, birth of credit councling.
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major stock market gains, longest peace time expansion.
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The north wing of the Main Treasury Building was severely damaged by fire.
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World Trade Center, the Pentagon, and the Pannsylvania lead to major stock market losses. Theats of further terrorism continue to influencethe financial markets. The latter part of the first decade was markets by a significant economic recession that resulted in failed banks, foreclosures, and high unemployment.
