jan 1, 1863 - National Banking Act
Description:
The act that created national banks which circulated notes backed by the U.S government (Greenbacks). After an amendment, it was required that national bank notes were not taxed but state notes were, which established a national currency. Due to the Free Banking Era, state banks did not suffer much.Added to timeline:
Date:
jan 1, 1863
Now
~ 162 years ago