My fearless padlet by Ava Haun

1791

haunac — 2024-10-14 18:41:41 UTC

Alexander Hamilton suggested that the first bank of the United States be opened up, it was successful and was the largest and most powerful bank in the US

1811

haunac — 2024-10-14 18:46:35 UTC

There were more banks made. There were about 100 state banks. A state gave the right to these banks, not the government.

1816

haunac — 2024-10-14 18:49:41 UTC

The second bank of the United States was created. This happened to try to bring order back to the banking system.

1832

haunac — 2024-10-14 18:57:47 UTC

Some people were not happy about this bank, the president thought that it favored rich and powerful people. He didn't like this so much that he did not renew it, and he refused the government.

1837

haunac — 2024-10-14 19:01:09 UTC

Many banks were getting used because people would get loans and not pay them back. That is why the banks were such problems.

1816-1865

haunac — 2024-10-14 19:06:03 UTC

When the Civil War broke out the Union and the Confederacy printed paper money to pay their bills. the money was known as greenbacks.

1863 and 1864

haunac — 2024-10-14 19:09:06 UTC

Congress passed the National Bank Acts to set up a system of national banks. The government checked each bank to make sure they are safe.

1900

haunac — 2024-10-14 19:11:50 UTC

Congress passed the Gold Standard which set the value of a dollar and a certain amount of gold.

1933

haunac — 2024-10-14 19:13:26 UTC

The US continued to go off the Gold Standard.