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Mar 3, 1863: Rebuilding the Bank America Could Not Quit
Description
Crisis keeps rewriting the rules of money.
On March 3, 1863, Abraham Lincoln signed the National Banking Act, rebuilding national financial coordination in the middle of the Civil War. The law standardized currency, created a structured market for Union bonds, and pulled capital into a federally supervised system, proving once again that when economic fragmentation threatens survival, the country reaches back toward centralized banking power, even after swearing it off.
From bsnsHistory, the daily podcast about the moments when business quietly reshaped the world.
Written and hosted by Ron Trucks. Research and editing by Rodney Russ. Sound design by Angela Cahoy. Music by Cody Martin and Soundstripe.
For more daily business stories, visit www.bsnsDAILYpodcasts.com