National Banking Act of 1863

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The National Banking Act of 1863 was a U.S. Civil War–era law that created a system of nationally chartered banks and a uniform national currency, reshaping the American banking and monetary system.

All labels observed (8)

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Statements (41)

Predicate Object
instanceOf United States federal statute
banking law
monetary law
aimedToReduce state bank–issued banknotes
alsoKnownAs National Currency Act
appliesTo national banks in the United States
authorized national bank charters
context Union government war financing measures
country United States
created national banking system
enactedDuring American Civil War
enactedIn 1863
field banking
financial regulation
monetary policy
followedBy National Bank Act of 1864
historicalPeriod Civil War era
impact centralized banknote issuance under federal authority
encouraged purchase of U.S. government bonds
reduced monetary fragmentation among U.S. states
introduced federal oversight of nationally chartered banks
jurisdiction United States federal government
legalForm Act of Congress
legislativeBody United States Congress
purpose to create a system of nationally chartered banks
to establish a uniform national currency
to help finance the Union war effort
to strengthen the federal government’s control over banking
reformed United States banking system
United States monetary system
regulates chartering of national banks
issuance of national bank notes
relatedTo Legal Tender Acts
National Bank Act of 1864
required national banks to hold U.S. government bonds as backing for banknotes
resultedIn issuance of national bank notes
more uniform U.S. paper currency
signedBy Abraham Lincoln
subjectMatter bank regulation
currency issuance
public finance

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Referenced by (17)

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National Bank Note introducedBy National Banking Act of 1863
National Bank Note relatedTo National Banking Act of 1864
linked to: National Banking Act of 1863
Office of the Comptroller of the Currency legalBasis National Currency Act
linked to: National Banking Act of 1863
Office of the Comptroller of the Currency legalBasis National Bank Act
linked to: National Banking Act of 1863
National Banking Act of 1863 followedBy National Bank Act of 1864
linked to: National Banking Act of 1863
National Banking Act of 1863 alsoKnownAs National Currency Act
linked to: National Banking Act of 1863
National Banking Act of 1863 relatedTo National Bank Act of 1864
linked to: National Banking Act of 1863
Aldrich–Vreeland Act precededBy National Banking Acts
linked to: National Banking Act of 1863
Glass–Owen Act replacedSystem National Banking System
linked to: National Banking Act of 1863
Independent Treasury System relatedTo National Banking System
linked to: National Banking Act of 1863
Office of the Comptroller of the Currency legalBasis National Currency Act of 1863
subject linked to: OCC
linked to: National Banking Act of 1863
Office of the Comptroller of the Currency legalBasis National Bank Act of 1864
subject linked to: OCC
linked to: National Banking Act of 1863
President of the United States (for the Comptroller of the Currency) exercisesPowerUnder National Bank Act
linked to: National Banking Act of 1863
Legal Tender Act of 1862 relatedTo National Banking Acts
linked to: National Banking Act of 1863
Presidency of Abraham Lincoln significantEvent National Banking Acts
linked to: National Banking Act of 1863
Federal Deposit Insurance Act relatedTo National Bank Act
linked to: National Banking Act of 1863
Banking Code of the United States includes National Bank Act
linked to: National Banking Act of 1863