The Federal Reserve Bank of the US

The Federal Reserve Bank of the US

How Did It Come To Exist

The first U.S. organisation with cantered banking responsibilities was the First Bank of the United States, hired boat by Congress and marked into regulation by President George Washington on February 25, 1791 at the advising of Alexander Hamilton. This was finished regardless of powerful opponents from Thomas Jefferson and James Madison, amidst many others. The vessel for charter was for 20 years and expired in 1811 under President James Madison. (Epstein 2009)

In 1816, although, Madison revived it in the pattern of the Second Bank ...