History of Banking

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The Federal Reserve Banking System was created December 23,1913. It is the central banking system for the United States and was created in response to several financial crises. Mainly the banking panic of 1907, stock market crashes. These financial situations created the need for a centralized control of the monetary system. Are we lead to that such a power is really needed?

The oldest bank “Banca Monte de Paschida Siena” was established in Florence, Italy in 1472 as a means of storing money for people when traveling, as the use of silver and gold was used at the time and very cumbersome for travel ‘The First Bank of the United States” was started in February 25, 1791 in Philadelphia, Pennsylvania and is a National landmark.

In 1913 a very strange coincidence happened in Our United States: first the Federal Reserve was setup with the help of Senator Nelson Aldridge and…

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