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American colonists issued paper currency for the Continental Congress, to finance the Revolutionary War.
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The first domestic loan occurred. Congress approved the Treasury Board's recommendation to borrow $5 million.
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The Board of Treasurey has people sign on the Continetal bills or credit.
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European money is being allowed to be used in the United States
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For the first time in history, a nation adopted a decimal coinage system. The dollar was unanimously chosen as the money unit for the United States.
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The second bank of the united states is approved.
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The Second Bank of the United States was offically opened. It went through some rough spots in its first year.
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Andrew Jackson was skeptical of the central banking system and believed it gave too few men too much power and caused inflation. So he campaigned against it.
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President Jackson orders the government to stop depositing money into the Bank of US. The money was deposited into charter banks.
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Throughout 1834 there was a contant back and forth between president Jackson and the senate about the state banks, and the governments money.
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A bill establishing an Independent Treasurey is proposed by Congress
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The United States Customs Service began collecting revenue in the new state of Texas.
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An Act of Congress withdrew the right for foreign the legal tender properties of forgein coin exchange in the United States.
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There was a statutory limitation of $300 million on the amount of United States Notes authorized to be outstanding and in circulation. This currency was not backed by any deposit in any bank.Their Notes also did not have interest.
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Congress passed the Public Credit Act to pay the public debt in gold, leaving three hundred million in "greenbacks" and a debate about redeeming them.
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The federal gold reserves drop to only sixty million dollars. The federal government offers a bond issue of fifty million dollars to make up gold reserve losses.
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The Federal income tax on individuals and corporations began.
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Congress passed the War Revenue Act, it increased corporate and personal income taxes and established profits, and luxury taxes.
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United States banks loaned Germany two hundred million for reparation.
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The Secretary of the Treasury removed the restrictions on acquiring or holding gold certificates.
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The Social Security Amendments mandated that all new Federal Government employees be covered.
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Iraq started to sell oil in Euro's not FRB dollars.
