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History Of Banking In The United States
This article details the history of banking in the United States. Banking in the United States is regulated by both the federal and state governments. New nation In the first half of the 19th century, many of the smaller commercial banks within New England were easily chartered as laws allowed to do so (primarily due to open franchise laws). The rise of commercial banking saw an increase in opportunities for entrepreneurs to borrow capital used to grow an enterprise. The small private banking sector saw a great deal of insider lending. Many of these banks actually spurred early investment and helped spur many later projects. Despite what some may consider discriminatory practices with insider lending, these banks actually were very sound and failures remained uncommon, further encouraging the financial evolution in the United States. Early attempts to create a national bank In 1781, an act of the Congress of the Confederation established the Bank of North America in Philade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In The United States
Banking in the United States began by the 1780s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security. The beginnings of the banking industry can be traced to 1780 when the Bank of Pennsylvania was founded to fund the American Revolutionary War. After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions. As of 2018, the largest banks in the United States were JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs. It is estimated that banking assets were equal to 56 percent of the U.S. economy. As of September 8, 2021, there were 4,951 FDIC insured commercial banks and savings institutions in the U.S. History Merchants ... [...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] |
Pet Banks
Pet banks is a derogatory term for state banks selected by the United States Department of the Treasury, U.S. Department of Treasury to receive surplus Treasury funds in 1833. Pet banks are sometimes confused with wildcat banking, wildcat banks. Although the two are distinct types of institutions that arose concomitantly, some pet banks were known to also engage in practices of wildcat banking. They were chosen among the big U.S. banks when President of the United States, President Andrew Jackson vetoed the recharter for the Second Bank of the United States, proposed by Henry Clay four years before the recharter was due. Clay intended to use the rechartering of the bank as a topic in the upcoming election of 1832. The charter for the Second Bank of the United States, which was headed by Nicholas Biddle, was for a period of twenty years beginning in 1816, but Jackson's distrust of the national banking system (which he claimed to be unconstitutional) led to Biddle's proposal to rech ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Order (United States)
In the United States, an executive order is a directive by the president of the United States that manages operations of the federal government. The legal or constitutional basis for executive orders has multiple sources. Article Two of the United States Constitution gives presidents broad executive and enforcement authority to use their discretion to determine how to enforce the law or to otherwise manage the resources and staff of the executive branch. The ability to make such orders is also based on expressed or implied Acts of Congress that delegate to the president some degree of discretionary power (delegated legislation).John Contrubis, '' Executive Orders and Proclamations'', CRS Report for Congress #95-722A, March 9, 1999, Pp. 1-2 The vast majority of executive orders are proposed by federal agencies before being issued by the president. Like both legislative statutes and the regulations promulgated by government agencies, executive orders are subject to judicial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin
A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. ''Obverse'' and its opposite, ''reverse'', refer to the two flat faces of coins and medals. In this usage, ''obverse'' means the front face of the object and ''reverse'' means the back face. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse ''tails''. Coins are usually made of metal or an alloy, or sometimes of man-made materials. They are usually disc shaped. Coins, made of valuable metal, are stored in large quantities as bullion coins. Other coins are used as money in everyday transactions, circulating alongside banknotes. Usually the highest va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financier
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Types of investments include equity, debt, securities, real estate, infrastructure, currency, commodity, token, derivatives such as put and call options, futures, forwards, etc. This definition makes no distinction between the investors in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns stock is a shareholder. Types of investors There are two types of investors: retail investors and institutional investors. Retail investor * Individual investors (including trusts on behalf of individuals, and umbrella companies formed by two or more to pool investment funds) * Angel investors (individuals and groups) * Sweat equity investor Ins ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nicholas Biddle (banker)
Nicholas Biddle (January 8, 1786February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836). Throughout his life Biddle worked as an editor, diplomat, author, and politician who served in both houses of the Pennsylvania state legislature. He is best known as the chief opponent of Andrew Jackson in the Bank War. Born into the illustrious Biddle family of Philadelphia, young Nicholas worked for a number of prominent officials, including John Armstrong Jr. and James Monroe. In the Pennsylvania state legislature, he defended the utility of a national bank in the face of Jeffersonian criticisms. From 1823 to 1836, Biddle served as president of the Second Bank, during which time he exercised power over the nation's money supply and interest rates, seeking to prevent economic crises. With prodding from Henry Clay and the Bank's major stockholders, Biddle engineered a bill in Congress to rene ... [...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] |
President Of The United States
The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces. The power of the presidency has grown substantially since the first president, George Washington, took office in 1789. While presidential power has ebbed and flowed over time, the presidency has played an increasingly strong role in American political life since the beginning of the 20th century, with a notable expansion during the presidency of Franklin D. Roosevelt. In contemporary times, the president is also looked upon as one of the world's most powerful political figures as the leader of the only remaining global superpower. As the leader of the nation with the largest economy by nominal GDP, the president possesses significant domestic and international hard and soft power. Article II of the Constitution establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...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] |
Jacksonian Period
Jacksonian may refer to: *Jacksonian Democrats, party faction *Jacksonian democracy, American political philosophy *Jacksonian seizure, in neurology {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
