On Feb. 26, 1863, President Abraham Lincoln signed into law the National Banking Act. This federal law established a system of national charters for banks, and encouraged the development of a national currency based on bank holdings of U.S. Treasury Securities. It was hoped that this would encourage stability in the midst of the Civil War.
Today In History- February 26
U.S. President Abraham Lincoln signs the National Banking Act into law.
Lincoln establishes National Bank system in United States.
- Washington D.C., USA
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