The Free Banking Era (jan 1, 1836 – jan 1, 1865)
Description:
The Free Banking Era allowed many state-chartered, city, and private businesses to issue their own paper money. This resulted in over 1600 banks, issuing more than 10,000 different kinds of paper currency. This impacted the economy because it allowed people to spend money, but only in certain areas, taking away university.Added to timeline:
Date:
jan 1, 1836
jan 1, 1865
~ 29 years