National Bank Act
The National Banking Acts of 1863 and 1864 were two United States federal banking acts that established a system of national banks for banks, and created the United States National Banking System. They encouraged development of a national currency backed by bank holdings of U.S. Treasury securities and established the Office of the Comptroller of the Currency as part of the United States Department of the Treasury and authorized the Comptroller to examine and regulate nationally chartered banks. The legacy of the Act is its impact on the national banking system as it stands today and its support of a uniform U.S. banking policy.
Read more about National Bank Act: Background, Creation, Resurgence of State Banks, Legacy
Famous quotes containing the words national bank, national, bank and/or act:
“The progress
Is permanent like the preordained bulk
Of the First National Bank
Like fish sauce, but agreeable.”
—John Ashbery (b. 1927)
“In our brief national history we have shot four of our presidents, worried five of them to death, impeached one and hounded another out of office. And when all else fails, we hold an election and assassinate their character.”
—P.J. (Patrick Jake)
“on a May morwening upon Malverne hilles
Me befel a ferly, of fairye me thoughte;
I was wery ofwandred and wente me to reste
Under a brod bank by a bournes side;
And as I lay and lenede and lookede on the watres,
I slomerede into a sleeping, it swyede so merye.”
—William Langland (1330–1400)
“For, truly speaking, whoever provokes me to a good act or thought has given me a pledge of his fidelity to virtue,—he has come under the bonds to adhere to that cause to which we are jointly attached.”
—Ralph Waldo Emerson (1803–1882)