Today In History- February 26

Today In History- February 26

TOPIC

U.S. President Abraham Lincoln signs the National Banking Act into law.

Lincoln establishes National Bank system in United States.

  • Washington D.C., USA

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.


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Created:
1/17/2008
Modified:
7/19/2011
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