jan 1, 1816 - Second National Bank ratified by Madison

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This is when President Madison authorized the construction of the second National Bank in the United States. This was done because Madison wanted to handle some of the debt that had been produced from the war of 1812 and the creation of this bank would help that. This is significant because it shows the federal government getting involved in economics more directly and the government helping a market that was heavily inflated.

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