The National Banking Acts of 1863 and 1864 provided that

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The National Banking Acts of 1863 and 1864 established a system of national banks in the United States and required these banks to hold U.S. government bonds on deposit with the Treasury. These banks were then authorized to issue their own paper currency, known as national bank notes, against the value of the bonds they held. This helped to create a more stable and uniform financial system across the country.

The National Banking Acts of 1863 and 1864 Provided That