History of The US Bank by Caden Van Leeuwen

1791

antillgm — 2024-10-24 17:14:22 UTC

Congress gave the bank a 20-year charter

vanleeuwencj — 2024-10-24 17:45:05 UTC

The charter from Congress expired

vanleeuwencj — 2024-10-24 17:45:15 UTC

Congress created a second US bank with a new charter

vanleeuwencj — 2024-10-24 17:45:25 UTC

Banks in New York City ran out of gold and silver.

mirzain — 2024-10-24 17:48:12 UTC

Congress passed the National Banking Acts to set up a system of national banks.

talbertat — 2024-10-24 17:49:33 UTC

Andrew Jackson (the president at the time) vetoed the request to re-charter the second bank. He thought it favored wealthy and powerful people.

antillgm — 2024-10-24 17:51:52 UTC

The Panic of 1907 happened because many banks made bad loans and gave too much credit.

antillgm — 2024-10-24 17:51:55 UTC

Congress created a National Monetary Commission. Its job was to find ways to prevent panics from happening again.