The National Banking System: a brief history

Bruce Champ

No 723, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: During the period of the National Banking System (1863?1913), national banks could issue bank notes backed by holdings of eligible U.S. government securities. This paper presents an overview of the legal and financial history of this period. It begins with the reasons the National Banking System was created. It also examines the rules of operation for national banks as established by the National Banking Act and its subsequent revisions. Furthermore, the paper serves as a brief financial history of the period, examining the various forces that shaped the environment in which national banks operated.

Keywords: National; banks; (United; States) (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-ban and nep-his
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Citations: View citations in EconPapers (7)

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