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The Navigation Act
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Period: to
History of Banking
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The Stamp Act
The Stamp Act, the first direct tax levied by Parliament on the colonists was passed. An ecomonic boycott led to its repeal. -
The Townshed Act
The Townshed Acts, called "Englands most fateful decision", established a Board of Customs Commissions in Boston. -
Declaration of Independence
The Declaration of Independence was approved. -
Bank of North America
The Bank of North America opened -
George Washington
George Washington was inaugurated as the first President of the United States. -
The First Charter
The First Bank of the United States was chartered by the United States Congress for 20 years. -
First Bank
The First Bank of the United States was opened. -
The Bank Tradegy
The First Bank of the United States is closed permanently. -
Second Bank
The Second Bank of the United States was approved. -
Stock Exchange
The establishment of the New York Stock and Exchange Board -
American Civil War
Abraham Lincoln issued a legal tender paper money called "greenbacks" -
National Currency Act
The National Currency Act, creating a national currency. -
Deutsche Bank
The Deutsche Bank was founded. -
Special Payment Resumption Act
The Special Payment Resumption Act provided for the redemption of United States paper currency ("greenbacks"), in gold beginning in 1879. -
Federal Reserve Act
Federal Reserve Act created the Federal Reserve System, the central banking system of America, and granted it legal authority to issue legal tender. -
Crash of 1929
In the wake of the Wall Street Crash of 1929, 9,000 banks close, wiping out a third of the money supply in the United States -
Nixon Shock
The Nixon Shock was a series of economic measures taken by U.S. President Richard Nixon which canceled the direct convertibility of the United States dollar to gold by foreign nations. This essentially ended the existing Bretton Woods system of international financial exchange. -
Credit Crunch
Start of the Late-2000s financial crisis that saw the a credit crunch that led to the failure and bail-out of a large number of the worlds biggest banks. -
2008 Crash
Washington Mutual collapses, the largest bank failure in history.