February 25, 1863: National Bank Act

This is a syndicated post from The American Catholic. [Read the original article...]

Originally called the National Legal Currency Act, the National Bank Act was signed into law on February 25, 1863.  The Act created National Banks that could issue notes printed by the United States Treasury that would serve as currency, the famous Greenbacks.  Precisely one year before the Congress had authorized the treasury to issue paper [...]

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Donald R. McClarey (1546 Posts)


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