1. The Peculiar Institution
... the government's funds, lend the government money when needed, regulate state banks' lending, issue bank notes, and collect taxes. The Bank's charter had ended in 1811, but in 1816, President Madison rechartered the Bank for twenty years. By the Panic of 1819, when (land) speculative fever pushed people to the brink of bankruptcy and failure, state and local banks also arrived ... ...
- Word Count: 3233
- Approx Pages: 13
- Grade Level: High School