WCHS econ

By azazush
  • Period: to

    Econ

  • Alexander Hamilton's Proposal of a National Bank

  • First Bank Established

    Purposes:
    1. To hold the money that the government collected in taxes
    2. To help the government carry out its powers to ttax, borrow money in the public interest, and regulate interestate and foreign commerce.
    3. To issue representative money in the form of bank notes, which were backed by gold and silver.
    4. To ensure that state-chartered banks held sufficient gold and silver to exchange for bank notes should the demand arise.

  • Second Bank Established

  • The Free Banking Era

    There were several problems with the so called "Wildcat" era such as:
    1. Bank runs and panics
    2. Wildcat banks
    3. Fraud
    4. Many different currencies

  • Demand Notes

  • National Banking Acts

  • Gold Standard

    The advantages were:
    1. It set a definite value for the dollar
    2. The government could issue currency only if it had gold in the treasury to back the notes

  • Panic of 1907

  • Federal Reserve System

  • The Great Depression

  • FDIC

  • The Savings and Loan Crisis

  • Financial Institutions Reform, Recovery, and Enforcement Act

  • Glass-Steagall Act Repealed