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Free Banking Period
Research Paper # 19672
Free Banking Period
Examines the 1837-1865 period in U.S., discussing background, causes, legislation, court decisions and effects.
4,050 words (approx. 16.2 pages) |
13 sources |
1992
From the Paper:
"THE FREE BANKING PERIODThis research examines the so-called "Free Banking Period" in the United States. This period officially began in 1837, when the first free banking law was enacted in Michigan in the wake of the demise of the Second United States National Bank (Hammond, 1957, p. 572). Free banking had been proposed in New York State as early as 1825, and the concept originated in England at a much earlier date (Hammond, 1957, p. 572). Free banking came to its ultimate end in 1865, when Congress enacted legislation imposing a ten-percent tax on all bank notes issued under state authority (Morison & Commager, 1951, p. 7). Subsequent to that time, no one would accept bank notes other than those issued by the United States government. Tariffs imposed on foreign goods in 1857 had earlier resulted in financial distress ..."
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APA Citation:
Free Banking Period (2012, January 15). Retrieved February 12, 2012, from http://www.academon.com/Research-Paper-Free-Banking-Period/19672
MLA Citation:
"Free Banking Period" 15 January 2012. Web. 12 Feb. 2012. <http://www.academon.com/Research-Paper-Free-Banking-Period/19672>
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