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Sep 21, 1455
The use of the currency vanished from China.
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Sep 20, 1535
The first Mint in the New World was established.
It was established in Mexico City at the home at Hernando Cortez. -
Tobacco begins to be used as currency in Virginia
Barely a dozen years after its introduction to Virginia tobacco starts being used as currency and this use continues for nearly 200 years. -
The Act Against Usury
The maximum legal rate of interest in England is reduced to 8% per annum. -
First mint in English America Established in Boston.
The original coins were simple, and had "NE" stamped on them for the New England Colony. -
Act for the Encouragement of Coinage
English mint charges are abolished and replaced by import duties on wine, beer, cider, spirits and vinegar. -
US Confederation Congress passes the Mint Act
The intention is to meet a currency shortage - but only a few tons of copper coins are minted. -
The Bank Indemnity Act
This act gives the directors of the Bank of England legal immunity for loans to the government. This enables the British government to borrow much larger sums for the war against France. -
England made gold a benchmark of value.
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US banking crisis
The uncontrolled, chaotic expansion of banking in the US is slowed, then partly reversed by a financial crisis in which every bank is forced to suspend specie payment of notes. The crisis leads to a depression in the economy which lasts until 1843. -
US Congress suspends convertibility of notes into specie
Priority in the use of gold and silver is given to government purposes as a result of the war. -
Tax placed on US state bank notes
The rate is set at 2%. -
First Bill in America
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The U.S. went on the gold standard
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Stock Market Crash.
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Congress authorized the US Treasury to stop redeeming silver certificates in silver dollars or bullion beginning the following year
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Silver was removed from the production of coins
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US Federal Appeals Court legalizes nationwide ATM networks
It had been argued that automatic teller machines (ATMs) were branches and therefore subject to laws restricting branch banking but the Court rejects this argument. -
Over 90% of all transactions in the US are made electronically
The high costs of cheque and coin payments is a strong motivating factor in the development of electronic payment systems in the US and abroad. -
Financial Crisis
A series of bank and insurance company failures created a financial crisis that halted global credity markets and required unprecented government intervention.
