No federal bank yet

In 1850 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.

Classic Head half eagle, 1834. The type is that year’s change in the gold coin, not a new law of this year.Public domain.

The Second Bank’s federal charter ended in 1836. In 1837 specie payments were suspended in many places. No successor federal bank is chartered this year. The Federal Reserve is 1913.

United States Notes are not yet legal tender. That authorization is the Legal Tender Act of February 1862. This page does not date an Independent Treasury law.

Jackson and the Bank →