American Banking

American Banking The American Banking System 1800-1810 INTRODUCTION Looking spikelet to the outset of the 19th century, it is impossible to say that any trustworthy banking system had really been developed in the US. This is to say that, though there were roughly 120 private commercial banks that had been claim by new state presidencys, the so-called system was incisively organized. It was ad hoc in nature and directly linked to the merchant banking practices of the pre-independence period. The eld preceding the turn of the century were important because they brought a central banking authority onto the scene.

In 1789 the new federal government established a position for the Secretary of the Treasury. As we know, the inauguration to hold this prestigious title was Alexander Hamilton. He do a great deal in the 11 years leading up to the year 1800. Most notably his actions were largely responsible for the creation of the First Bank of the United States, which was disposed(p) a charter ...If you want to get a abounding essay, rewrite it on our website: OrderCustomPaper.com

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