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American Revolution
American Revolution
The American Revolution took place between 1765 and 1783. The Thirteen American Colonies rejected the British monarchy and established the United States of America. -
Bank of United States.
Bank of the United States
In 1791, federalists won the first debate, the congress established the Bank of United States. -
That Bank's Charter Ran Out.
The Bank of United States kept running until 1811, when its charter ran out. Then the state banks took over, which created a great deal of chaos and confusion. -
The Second Bank of The United States.
The Second Bank of the United States
To eliminate the chaos that is created by States banks, Congress charted the Second Bank of the United States in 1816. -
The End of Second Bank of the United States.
In 1832, when Congress tried to renew the Bank's charter, President Andrew Jackson vetoed the renewal. -
The Free Banking Era.
As state-charted banks flourished once again from 1837 to 1863, the sheer number of banks gave rise to a variety of problems, like bank runs and panics, fraud, and many different currencies. -
The National Bank Acts of 1863.
National Bank Act of 1863
The National Bank Acts of 1863 and 1864 gave the federal government the power to charter banks, require banks to hold an adequate amount of gold and silver reserves, and issue a national currency. -
The Beginning of Dollars.
The history of us. dollar
In the 1870s, the nation adopted the gold standard which set a definite value of the dollars. The US dollars started to play an important role in the global market. -
The Federal Reserve Act.
The federal reserve act
In 1913, the Federal Reserve Act established the Federal Reserve System, which reorganized the federal banking system to include: 12 federal reserve banks, the federal reserve board, short-term loans and federal reserve notes. -
The Establishment of FDIC.
History of FDIC
In order to deal with the Great Depression in 1930s, President Franklin Roosevelt acted to restore the banking system by established the FDIC, which insured customer deposits if a bank failed. -
The Sub-prime Mortgage Collapse.
Subprime mortgage crisis was a nationwide banking emergency that coincided with the U.S. recession of December 2007 – June 2009. It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation of housing-related securities.
