PROF
ENGLISH 150
10/02/11
THE FEDERAL RESERVE BANK
In 1690 the mamma Bay colony became the number 1 in the united states to final result
piece of music money, soon mothers began printing their own money as well. Due to the scarcity of coins which been the primary performer of trade .Colonies paper currencies were used to pay for their expenses , as well as to append money to the coloniess citizens . Paper money became the primary means of the currencies exchange . But some of the currencies were not always approve by gold or silver which made them decry .
The very first attempt at a matter currency was during the America revolutionary war . The continental coition began issuing its own paper currency calling their bills continents. The first edge of the united states was needed because the government had a debt from the war. In 1791 after the united states constitution was approved, the first banks charter was drafted in 1811. The bank was originally was based in carpenters hall from 1791 to 1795, it was restored in 1976. In 1811 congress voted to abandon its charter.
The secondly bank of the united states was chartered for many of the same reasons as its predecessor, the first bank of the united states. The war in 1812 had remaining a formidable debt , inflation surged ever upward imputable to ever increasing amount of notes issued by private banks, for these reasons hot seat Madison signed a bill authorizing the second bank in 1816 with a charter lasting 20 long time . Located in Philadelphia,...If you want to get a full essay, order it on our website: Ordercustompaper.com
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