Free Banking Era
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
FREE BANKING ERA
KEVIN EAGAN
in 1832. President Jackson, an anti-federalist is reelected and vetoes the rechartering of the Second Bank of the United States.
Photo by c_ambler
Without a central bank system. Local banks were not insured and could print their own currency
Photo by Curtis Gregory Perry
strength of banks varied from state to state, with regulation and supervision uneven.
Photo by WarzauWynn
During the free banking era, the banks were short-lived compared to today's commercial banks, with an average lifespan of five years. About half of the banks failed, and about a third of which went out of business because they could not redeem their notes.
Photo by Cliff Beckwith
The free banking era only exist because there was no national bank to regulate the state banks.
Photo by Werner Kunz
