Prior to the establishment of the Federal Reserve System in 1913, the United States had no experience with a central bank.

Question

Quizplus · Accepted Answer

The United States had two experiences with a central bank prior to 1913. The First Bank of the United States, which was the brainchild of Alexander Hamilton, lasted from 1791-1811. The Second Bank of the United States was established in 1816 and was closed in 1836.

Prior to the Establishment of the Federal Reserve System in 1913