# data[].attributes.body
The first Secretary of the Treasury, Alexander Hamilton suggested that a national bank be created. In 1791 the Bank of the United States was set up in 1791

# data[].attributes.body
Congress refused to renew its charter. In the end the number of banks chartered by the states grew. there were about 100 state banks, these banks printed their own paper money. Although this caused problems because the money was supposed to be backed by silver and gold coins.

# data[].attributes.body
Congress set up the second bank of the United States to try to bring order back to the banking system. It brought in some success but many people were still not pleased with the bank.

# data[].attributes.body
President Jackson refused to charter the banks again and took all the money from the government and put the money into smaller, state-chartered banks

# data[].attributes.body
the economic slowdown called the panic of 1837

# data[].attributes.body
congress passed the national banking acts to set up a system of national banks.

# data[].attributes.body
Congress passed the Gold Standard Act. It set the value of the dollar at a certain amount of gold. People knew they could cash in their paper money for gold

# data[].attributes.body
The panic of 1907 happened because many banks made bad loans and gave too much credit. People lost trust in banks. demands for money caused a bank run.

# data[].attributes.body
Congress created a National Monetary Commission. Its job was to find ways to prevent panics from happening again.

# data[].attributes.body
The federal reserve act was passed. It served as the nation's first true central bank. It created a banking system of 12 district banks throughout the country.

# data[].attributes.body
On March 5, 1933 Franklin D. Roosevelt wanted to end the panic. He declared a national bank holiday where he ordered all banks closed. After inspected only the safe banks were allowed to reopen