6 Aug 1846 Jahr - Independent Treasury Act

Beschreibung:

It is important for you to know that the 1st U.S. Bank, (the one organized by Alexander Hamilton) went out of business just before the War of 1812. The U.S. Government borrowed heavily from private banks to finance the war and temporarily failed to repay its loans. In 1816, Congress passed a charter, to last 20 years, that established the 2nd U.S. Bank. Andrew Jackson opposed the existence of this bank, in 1832 he vetoed the U S Bank re-charter bill, which led to its ultimate demise. The 2nd U.S. Bank was replaced by the Independent Treasury, expanded by the 1863 National Banking Act and then overhauled in 1913 (Federal Reserve Act) by the creation of the Federal Reserve System and strengthened again in the 1935 Banking Act.