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Excerpt from The Establishment of the National Banking System: A Dissertation Submitted to the Faculty of the Graduate School of Arts and Literature for the Degree of Doctor of PhilosophyOn January 2, 1838, the Governor, in his annual message, said that there were certain objections to an unqualified repeal of the restraining-acts. These objections, however, would be removed if the bank-note issues were secured by a safety fund. He recommended...

Excerpt from The Establishment of the National Banking System: A Dissertation Submitted to the Faculty of the Graduate School of Arts and Literature for the Degree of Doctor of Philosophy §1. The national banking system was established in the United States in 1863. Contrary to popular belief, it was not an entirely new venture in the field of banking. If one keeps in mind that uniformity and stability of currency were the great ends sought by...

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