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History of U.S. Banking

History of U.S. Banking. 1600s no banks in early colonies Used British coins (tobacco or wampum) British didn't want the Americas to make own money. Colonist won independence in 1783 1791 – First Bank of the United States 1816 – Second Bank of the United States.

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History of U.S. Banking

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  1. History of U.S. Banking 1600s no banks in early colonies Used British coins (tobacco or wampum) British didn't want the Americas to make own money. Colonist won independence in 1783 1791 – First Bank of the United States 1816 – Second Bank of the United States

  2. States, cities, counties, railroads, stores, and individuals opened their own banks. Free Banking Era1836-1866

  3. The Father of the U.S. Banking System Salmon P. Chase Set up system of national banks Issued same bank notes Greenbacks

  4. Federal Reserve “Bank panics” 12 Districts (each with its own reserve bank) Kept gold and silver to back up money

  5. What is the stock market? Shares of stock Part owner Board of directors Dividends Risky Compass #7133

  6. Black Tuesday

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