jan 1, 1863 - National Bank Act 1863-1864 (economical)

Description:

Description: Attempts to assert federal control over the banking system
Create national bank
Create national currency
Create secondary market
Created federally chartered banks under supervision of the Office of the Comptroller of the Currency
Immediate Impact: Banks could issue bank notes
Long-term impact: Dual Banking System
Key people: Thaddeus Stevens, Treasury Salmon Chase,  Senator John Sherman
Role of each person: Thaddeus Stevens- Opposed the act
Treasury Salmon Chase & Senator John Sherman - Both promoted the act

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