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The National Banking System: a brief history

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  • Bruce A. Champ

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.

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  • Bruce A. Champ, 2007. "The National Banking System: a brief history," Working Paper 0723, Federal Reserve Bank of Cleveland.
  • Handle: RePEc:fip:fedcwp:0723
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    Cited by:

    1. Bouwman, Christa H. S., 2013. "Liquidity: How Banks Create It and How It Should Be Regulated," Working Papers 13-32, University of Pennsylvania, Wharton School, Weiss Center.

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    Keywords

    National banks (United States);

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