https://padlet.com/beckettas/1wgfy08ytyoes0ck en-us 2022-10-04 13:53:15 UTC 2025-12-06 13:44:25 UTC hello@padlet.com beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325751278 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]]> 2022-10-04 13:57:49 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325751278 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325755925 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.]]> 2022-10-04 13:59:44 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325755925 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325766084 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.]]> 2022-10-04 14:04:34 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325766084 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325770382 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]]> 2022-10-04 14:06:28 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325770382 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325772061 the economic slowdown called the panic of 1837]]> 2022-10-04 14:07:17 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325772061 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325778002 congress passed the national banking acts to set up a system of national banks.]]> 2022-10-04 14:09:42 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325778002 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325784479 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]]> 2022-10-04 14:12:21 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325784479 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325788980 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.]]> 2022-10-04 14:14:23 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325788980 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325790386 Congress created a National Monetary Commission. Its job was to find ways to prevent panics from happening again.]]> 2022-10-04 14:15:02 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325790386 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325793680 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.]]> 2022-10-04 14:16:35 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325793680 beckettas https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325798941 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]]> 2022-10-04 14:18:27 UTC https://padlet.com/beckettas/1wgfy08ytyoes0ck/wish/2325798941