This history of central banking in the United States encompasses various bank regulations, from early wildcat banking practices through the present Federal Reserve System.
Privately issued note, 1863
1908 cartoon arguing that an elastic currency is needed
Woodrow Wilson signs bill creating the Federal Reserve System, December 24, 1913
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A central bank, reserve bank, national bank, state bank, or monetary authority is a financial institution that manages the monetary policy of a country or monetary union. In contrast to a commercial b
History of central banking in the United States
…signed by George Washington soon after. The First Bank of the United States was modeled after the Bank of England and differed in many ways from today's central banks. For example, it was partly owned by foreigners, who shared in its profits. Also, it was not solely responsible for the country's supply of bank notes…
Walter Bagehot, influential 19th-century theorist of the economic role of central banks
Interior of the Llotja de Barcelona where the city's Taula de canvi was operated
The Bank of England in 1791
The Bank of Finland in Helsinki