A Look Back at the National Banking System and Its Relevance for Today
9 Pages Posted: 25 Mar 2014
Date Written: March 24, 2014
The National Banking System, established in 1864, required the backing of currency by government debt. There was considerable debate at the time about the proposed legislation. This paper looks back at the key features of the financial system as it existed in the latter half of the nineteenth century, the debates over reform of that system, and the relevance of those debates for financial reform today.
Keywords: banking regulation, National Banking System
JEL Classification: G28, N21
Suggested Citation: Suggested Citation