principles of money & credit important dates
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Last updated 3:48 AM on 2/6/26
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8 Terms
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1775
Continental Congress issued the nation’s first paper money known as Continentals
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1791
Congress established the First Bank of the United States
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1836 – 1865
Free Banking Era
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1863
Congress passed the National Currency Act and National Bank Notes were produced and distributed by National banks chartered by the U.S. government
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1879
U.S. adopted a Gold Standard
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1931
Federal Deposit Insurance Corporation (FDIC) was created
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1933
U.S. currency was no longer equal to or exchangeable for gold
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1971
President Richard Nixon announced the U.S. would no longer convert dollars to gold and the U.S. moves to fiat money
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Flashcards (20)