|
History Of Central Banking In The United States
This history of central banking in the United States encompasses various bank regulations, from early wildcat banking practices through the present Federal Reserve System. 1781–1836: Bank of North America and First and Second Bank of the United States Bank of North America Some Founding Fathers were strongly opposed to the formation of a national banking system; the fact that England tried to place the colonies under the monetary control of the Bank of England was seen by many as the "last straw" of oppression which led directly to the American Revolutionary War. Others were strongly in favor of a national bank. Robert Morris, as Superintendent of Finance, helped to open the Bank of North America in 1782, and has been accordingly called by Thomas Goddard "the father of the system of credit and paper circulation in the United States". As ratification in early 1781 of the Articles of Confederation had extended to Congress the sovereign power to generate bills of credit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Regulation In The United States
Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations. Apart from the bank regulatory agencies the U.S. maintains separate securities, commodities, and insurance regulatory agencies at the federal and state level, unlike Japan and the United Kingdom (where regulatory authority over the banking, securities and insurance industries is combined into one single financial-service agency). Bank examiners are generally employed to supervise banks and to ensure compliance with regulations. U.S. banking regulation addresses privacy, disclosure, fraud prevention, anti-money laundering, anti-terrorism, anti-usury lending, and the promotion of lending to lower-income po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Potomac River
The Potomac River () drains the Mid-Atlantic United States, flowing from the Potomac Highlands into Chesapeake Bay. It is long,U.S. Geological Survey. National Hydrography Dataset high-resolution flowline dataThe National Map. Retrieved August 15, 2011 with a drainage area of 14,700 square miles (38,000 km2), and is the fourth-largest river along the East Coast of the United States and the 21st-largest in the United States. Over 5 million people live within its watershed. The river forms part of the borders between Maryland and Washington, D.C. on the left descending bank and between West Virginia and Virginia on the right descending bank. Except for a small portion of its headwaters in West Virginia, the North Branch Potomac River is considered part of Maryland to the low-water mark on the opposite bank. The South Branch Potomac River lies completely within the state of West Virginia except for its headwaters, which lie in Virginia. Course The Potomac River runs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Constitution Of The United States
The Constitution of the United States is the supreme law of the United States of America. It superseded the Articles of Confederation, the nation's first constitution, in 1789. Originally comprising seven articles, it delineates the national frame of government. Its first three articles embody the doctrine of the separation of powers, whereby the federal government is divided into three branches: the legislative, consisting of the bicameral Congress (Article I); the executive, consisting of the president and subordinate officers ( Article II); and the judicial, consisting of the Supreme Court and other federal courts ( Article III). Article IV, Article V, and Article VI embody concepts of federalism, describing the rights and responsibilities of state governments, the states in relationship to the federal government, and the shared process of constitutional amendment. Article VII establishes the procedure subsequently used by the 13 states to ratify it. It is regarded as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whig Party (United States)
The Whig Party was a political party in the United States during the middle of the 19th century. Alongside the slightly larger Democratic Party, it was one of the two major parties in the United States between the late 1830s and the early 1850s as part of the Second Party System. Four presidents were affiliated with the Whig Party for at least part of their terms. Other prominent members of the Whig Party include Henry Clay, Daniel Webster, Rufus Choate, William Seward, John J. Crittenden, and John Quincy Adams. The Whig base of support was centered among entrepreneurs, professionals, planters, social reformers, devout Protestants, and the emerging urban middle class. It had much less backing from poor farmers and unskilled workers. The party was critical of Manifest Destiny, territorial expansion into Texas and the Southwest, and the Mexican-American War. It disliked strong presidential power as exhibited by Jackson and Polk, and preferred Congressional dominance in lawma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Party System
Historians and political scientists use Second Party System to periodize the political party system operating in the United States from about 1828 to 1852, after the First Party System ended. The system was characterized by rapidly rising levels of voter interest, beginning in 1828, as demonstrated by Election Day turnouts, rallies, partisan newspapers, and high degrees of personal loyalty to parties.Wilentz, '' The Rise of American Democracy: Jefferson to Lincoln'' (2006) Two major parties dominated the political landscape: the Democratic Party, led by Andrew Jackson, and the Whig Party, assembled by Henry Clay from the National Republicans and from other opponents of Jackson. Minor parties included the Anti-Masonic Party, an important innovator from 1827 to 1834; the abolitionist Liberty Party in 1840; and the anti-slavery expansion Free Soil Party in 1848 and 1852. The Second Party System reflected and shaped the political, social, economic and cultural currents of the Jac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Jackson
Andrew Jackson (March 15, 1767 – June 8, 1845) was an American lawyer, planter, general, and statesman who served as the seventh president of the United States from 1829 to 1837. Before being elected to the presidency, he gained fame as a general in the United States Army and served in both houses of the U.S. Congress. Although often praised as an advocate for ordinary Americans and for his work in preserving the union of states, Jackson has also been criticized for his racial policies, particularly his treatment of Native Americans. Jackson was born in the colonial Carolinas before the American Revolutionary War. He became a frontier lawyer and married Rachel Donelson Robards. He served briefly in the United States House of Representatives and the United States Senate, representing Tennessee. After resigning, he served as a justice on the Tennessee Supreme Court from 1798 until 1804. Jackson purchased a property later known as the Hermitage, becoming a wealthy plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Madison
James Madison Jr. (March 16, 1751June 28, 1836) was an American statesman, diplomat, and Founding Father. He served as the fourth president of the United States from 1809 to 1817. Madison is hailed as the "Father of the Constitution" for his pivotal role in drafting and promoting the Constitution of the United States and the Bill of Rights. Madison was born into a prominent slave-owning planter family in Virginia. He served as a member of the Virginia House of Delegates and the Continental Congress during and after the American Revolutionary War. Unsatisfied with the weak national government established by the Articles of Confederation, he helped organize the Constitutional Convention, which produced a new constitution. Madison's Virginia Plan was the basis for the Convention's deliberations, and he was an influential voice at the convention. He became one of the leaders in the movement to ratify the Constitution, and joined Alexander Hamilton and John Jay in writing '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Bank Of The United States
The Second Bank of the United States was the second federally authorized Hamiltonian national bank in the United States. Located in Philadelphia, Pennsylvania, the bank was chartered from February 1816 to January 1836.. The Bank's formal name, according to section 9 of its charter as passed by Congress, was "The President Directors and Company of the Bank of the United States". While other banks in the US were chartered by and only allowed to have branches in a single state, it was authorized to have branches in multiple states and lend money to the US government. A private corporation with public duties, the Bank handled all fiscal transactions for the U.S. Government, and was accountable to Congress and the U.S. Treasury. Twenty percent of its capital was owned by the federal government, the Bank's single largest stockholder.. Four thousand private investors held 80 percent of the Bank's capital, including three thousand Europeans. The bulk of the stocks were held by a few hundr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
War Of 1812
The War of 1812 (18 June 1812 – 17 February 1815) was fought by the United States of America and its indigenous allies against the United Kingdom and its allies in British North America, with limited participation by Spain in Florida. It began when the United States declared war on 18 June 1812 and, although peace terms were agreed upon in the December 1814 Treaty of Ghent, did not officially end until the peace treaty was ratified by Congress on 17 February 1815. Tensions originated in long-standing differences over territorial expansion in North America and British support for Native American tribes who opposed US colonial settlement in the Northwest Territory. These escalated in 1807 after the Royal Navy began enforcing tighter restrictions on American trade with France and press-ganged men they claimed as British subjects, even those with American citizenship certificates. Opinion in the US was split on how to respond, and although majorities in both the House and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Note (19th Century)
A Treasury Note is a type of short term debt instrument issued by the United States prior to the creation of the Federal Reserve System in 1913. Without the alternatives offered by a federal paper money or a central bank, the U.S. government relied on these instruments for funding during periods of financial stress such as the War of 1812, the Panic of 1837, and the American Civil War. While the Treasury Notes, as issued, were neither legal tender nor representative money, some issues were used as money in lieu of an official federal paper money. However the motivation behind their issuance was always funding federal expenditures rather than the provision of a circulating medium. These notes typically were hand-signed, of large denomination (at least ), of large dimension (bigger than private banknotes), bore interest, were payable to the order of the owner (whose name was written on the front of the note), and matured in no more than three years – though some issues lacked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Jefferson
Thomas Jefferson (April 13, 1743 – July 4, 1826) was an American statesman, diplomat, lawyer, architect, philosopher, and Founding Fathers of the United States, Founding Father who served as the third president of the United States from 1801 to 1809. He was previously the nation's second vice president of the United States, vice president under John Adams and the first United States Secretary of State, United States secretary of state under George Washington. The principal author of the United States Declaration of Independence, Declaration of Independence, Jefferson was a proponent of democracy, republicanism, and individual rights, motivating Thirteen Colonies, American colonists to break from the Kingdom of Great Britain and form a new nation. He produced formative documents and decisions at state, national, and international levels. During the American Revolution, Jefferson represented Virginia in the Continental Congress that adopted the Declaration of Independence. As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
