There was no Fed or any other Central Bank from 1837 to 1913. During the Civil War the 'National Banking Act' was passed which established 'National' Banks which required banks thus certified meet higher standards but they did not constitute anything like a Central Bank or Federal Reserve.
“There was no Fed or any other Central Bank from 1837 to 1913. During the Civil War the ‘National Banking Act’ was passed which established ‘National’ Banks which required banks thus certified meet higher standards but they did not constitute anything like a Central Bank or Federal Reserve.”
Thanks.
I thought I read something about standardized currency as well.