The changes of U.S banks
1791 Bank of The US.
This was the first bank of the United States. The first banks charter was signed by George Washington. It was built because the US was in debt from the revolutionary war. The bank was controlled by the federal government and was made to collect fees and make government payments. A lot of people opposed the bank because they felt that it gave the federal government too much power, so eventually the bank collapsed and failed.
1816 Second Bank of The US.
The second bank was built because the US was in debt because of the war of 1812. They made this bank less powerful than the first bank in hopes to please the state banks. The bank failed and the state banks started to issue their own form of currency. The Federal government didnt print any money until the Civil War.