Section 12: U.S. banks and money | Previous Section | Main Menu | Next Section |
To rebuild its credit after the Revolution, the American government decided not to issue more paper money. From 1781 to 1863, banks provided much of the nation's money. Commerce came to depend heavily on bank notes and bank deposits. | ||
Notes from two banks that couldn't quite hang on | ||
![]() First Bank of the United States |
![]() Second Bank of the United States |
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State-chartered banks took over | ||
![]() Bank of New York |
![]() Bank of Massachusetts |
![]() Bank of North America |
With no central control, there were many notes and much chaos | ||
![]() Mississippi and Alabama Railroad Company |
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Wildcat banks | ||
![]() Augusta Banking and Insurance Company |
![]() Bank of East Tennessee |
![]() Central Bank of Alabama |
This note was probably the reason the South is known as Dixieland | ||
![]() $10 dix note, front |
![]() $10 dix note, back |
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