1863, National Banking Act (jan 1, 1863 – nov 16, 1866)
Description:
Banks could have a state or federal charter also known as dual banking. The act was designed to create a national banking system, float federal war loans, and establish a national currency. Passed to help resolve the financial crisis that occurered during the early days of the Civil War.Added to timeline:
Date:
jan 1, 1863
nov 16, 1866
~ 3 years and 10 months