1. Will Rogers “The three greatest inventions of all time….. 1.Fire 2.Wheel 3.Central Banking

2. Pre-Civil War Banking in America I. Was a fiasco! II. 2 views of banking 1.Federalists a. ___________ banking system b. Led by ___________ 2._____________ a. __________ banking sytem b. Favored leaving power in the hands of ____. c. Led by ____________ centralized Hamilton Anti-Feds De-centralized The states Jefferson

3. Two Attempts At Central Banking 1.The _______________ (1791) a.Regulated state banks b.Held money collected by gov’t c.Issue bank notes backed by “specie” d.Borrowed and loaned money e.Died with Hamilton’s death 1 st National Bank

4. Chaos/Conflict/Calamity 2.____________ of the United States a. another 20 year charter(1816-1836) b. main opponent was __________ who vetoed its renewal in 1832. III.Let the Banking Party Begin! 1. “free banking era” 2. fraud/panics/different currencies 2nd National Bank Andrew Jackson

5. The Color of Money

6. Deep in the Heart of Texas

8. Confederate Currency

9. Colonial Currency

12. Birth of a FED 1.Bank Panic of 1907 2.Federal Reserve Act of 1913 a. Our Nation’s Central Bank