feb 10, 1863 - National Banking System
Description:
It was designed to establish a standard bank-note currency. Any banks that joined could buy government bonds and issue sound paper money backed by them. This was the first significant step toward a unified banking network since 1836. This allowed the North's inflation rate to only be at 80% while the South's was at 9,000% by the end of the war.Added to timeline:
Date:
feb 10, 1863
Now
~ 162 years ago