Search results
Results from the WOW.Com Content Network
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more
Rothbard, Murray N., History of Money and Banking in the United States.Full text (510 pages) in pdf format, A libertarian interpretation; Schweikart, Larry, ed. Banking and Finance to 1913 (1990), an encyclopedia with short articles by experts Schweikart, Larry, ed. Banking and Finance, 1913-1989 (1990), an encyclopedia with short articles by ...
The First Bank of the United States was modeled after the Bank of England and differed in many ways from today's central banks. For example, it was partly owned by foreigners, who shared in its profits. Also, it was not solely responsible for the country's supply of bank notes. It was responsible for only 20% of the currency supply; state banks ...
Three pence issued by the Bank of North America on August 6, 1789, printed by Benjamin Franklin Bache on marbled paper obtained by Benjamin Franklin. [6]In May 1781, Alexander Hamilton revealed that he had recommended Robert Morris for the position of Superintendent of Finance of the United States the previous summer when the constitution of the Articles of Confederation-era executive was ...
Numerous banks that were started during this period ultimately proved to be unstable. [6] In many Western states, the banking industry degenerated into "wildcat" banking because of the laxity and abuse of state laws. Bank notes were issued against little or no security, and credit was over extended; depressions brought waves of bank failures.
Of note during this period were agitation by the Whig Party for a central bank and a flirtation with the Treasury Notes as currency. Particularly controversial was an issue by Secretary Spencer of about $850,000 of Treasury Notes endorsed with a promise for immediate repurchase, principal and interest, by the sub-treasury in New York at par in ...
Download as PDF; Printable version; In other projects ... 1780s; 1790s; 1800s; 1810s; 1820s; 1830s; Pages in category "Banks established in 1780" The following 4 ...
In 1861 the U.S. began issuing United States Notes as legal tender. [128] Banks began paying interest on deposits and using the proceeds to make short term call loans, mainly to stock brokers. [118] New York banks created a clearing house association in 1853 in which member banks cleared accounts with other city banks at the close of the week ...