First Bank of the United States (1791-1811)
Second Bank of the United States (1828-1868)
-following US's Wars > Luisiana War (1825-8) issues of financial system force US to constitute bank system
-becomes important part of American system
-American Presidents > Story Court strengthens it further
-especially by it disallowing state banks from printing banknotes
-on basis of states not being allowed to print bills of credit
-broadly regulates lower level banks by making pretty large deposits
-and taking deposits out if bank seems unstable, resulting in run on bank
-following Panic of 1842 it becomes largest slaveowner in the United States thx to collateral
-under American Presidents > 1845-1852 Daniel Webster (Unionist) † it agrees to deport slaves to West Africa to divest itself of slaves in return for renewal
-for the South this means Bank slaves on sale don't reduce price of slaves
-in addition, following Panic of 1842 in the North the Bank gets a lot of land used as collateral
-especially in the West which was recently settled
-much of this land especially in Ohio, Indiana, and Michigan sold to land companies
-largely to companies headquartered in the British Isles
-as part of renewing Bank American Presidents > 1845-1852 Daniel Webster (Unionist) † gets Bank to give land to government in return for large imbursement
-also including slave value
-under American Presidents > 1845-1852 Daniel Webster (Unionist) †
-US government takes on half of debt from the several states, to be managed and paid off by the Bank
-friend Nathan Appleton appointed to its position (Daniel Webster > Webster Cabinet) and Webster uses bank for patronage
-becomes major scandal
-in 1851 Webster forced to shift members of bank
-under American Presidents > 1853-1861 Robert F. Stockton (People's) the bank is re-pointed towards investments he wants to bring up
-with California Gold Rush US economy goes through an inflation boom as the money flows towards it
-and Bank can now print a fuckton more money
-also it can pay off remainder of state debt as a result of this in move widely applauded and which helps fuel financial boom
-does not get renewed in 1868 as part of the breakdown of institutions under American Presidents > 1865-1868 George Washington Woodward (People's) [impeached, removed from office]
-bank is then associated with a number of different states
-and booked under them
-and remains bank of deposit because there's no way to change that really
-helps to cause financial chaos
-then with Liberty and Union War (1868-76) totally collapses as an institution because it is divided
-and segments are essentially destroyed by different raids and mobs
-banknotes become worthless which destroys many fortunes
-and its loans coming to an end means chaos
-as both Constitutional Government and Richmond Government deem these debts as devolving to the government
-as ways to achieve funding
War Bank (1869-1879)
-constituted during Liberty and Union War (1868-76) for five years
-for purposes of financing the war
-raises massive numbers of bonds to fund war effort
-in 1870 prints new banknotes to fund war effort
-banknotes now convertible with bonds
-results in 200%+ inflation
-forces government to repeatedly redenominate the notes
-sees inflation loosely put under control only towards end of the war
-negotiates loans with foreign governments
-as well as contracting ship construction from them etc.
-and especially keeps monitor on Currency > Greenback
-a number of other banks, loyal to Constitutional Government, become very tightly associated with government
-with Country folders/United States/Economy/Mineral rushes > Pikes Peak Gold Rush (1878) it starts buyup of gold
-in order to make loans with foreign banks and redeem them and all that
-and as part of financial control
Third Bank of the United States (1879-pres.)
-War Bank reformed, made into a permanent institution immediately before American Presidents > 1877-1879 John Wentworth (Justice) †
-also, a number of other banks tightly associated with the bank amalgamated within the Third Bank to create much larger institution
-additionally there's a return of high inflation
-in prep for Antillean War (1880-4)
-with Land Grant Acts > Mining Act (1881) it gets large amounts of gold from government
-as part of effort to make loans with foreign governments and the like
-and also as part of inflation control effort, which is largely successful
-sees very large corruption scandal
-associated with treasury secretary under Curran Emmet
-culminates in attempt to impeach the bank president president that Senate discards as unconstitutional
-though president does leave office
-intensifies movement for Washington Convention
-following Constitution of the United States (1885) Bank fears being disestablished and so makes preemptive reforms
-prevents Congress from simply throwing away Bank
-with 1899 renewal, however, it does see substantial reform
-oriented to making it bank of the people
-and make its credit more attuned with the people rather than simply big business
-and allow normal people to make accounts with the bank
-with Recessions > Panic of 1911 reaction is a mediocrity
-decides in fear of inflation to raise interests rate which causes deflationary wave