Show:
Development of Banking
Colonial Banking
Economic Crises
Federal Reserve
Political Influences
100

Who was the first person to try to stabilize the banking system?

J. P Morgan 

100

What was the primary form of currency in the American colonies?


  • The primary form of currency was bartering


100

What caused the Panic of 1797?

  • The Panic was caused by a real estate bubble that burst, leading to widespread bankruptcies.
100

When was the Federal Reserve Act passed?

December 23, 1913.

100

Who was President during the dismantling of the Second Bank of the United States?

  • Andrew Jackson was the President during this time.
200

How did various economic crises lead to the establishment of the Federal Reserve?

  • Economic crises highlighted the need for a central banking system 
200

What were "colonial scripts," 

  • Colonial scripts were paper currencies issued by colonies
200

Which financial crisis was linked to land speculation in 1837?

The Panic of 1837 

200

What was the purpose of the meeting on Jekyl Island in 1910?


  • The meeting aimed to discuss creating a central banking system to stabilize the economy.


200

What was Andrew Jackson's view of the Second Bank?

  • He believed it benefited the wealthy at the expense of the poor and was a corrupting influence.
300

Who established the First Bank 

Mark Newbie

300

What were Continentals, and why did they lose value?

  • Continentals were paper currency issued during the Revolutionary War that lost value due to overproduction and lack of backing.

Double Jeopardy 

300

What led to the financial panic of 1819?

Over-speculation in land and excessive lending contributed to the panic. 

300

How is the Federal Reserve System structured?


It consists of twelve regional banks and a Board of Governors overseeing the system


300

How did Teddy Roosevelt attempt to regulate Wall Street?

  • He implemented antitrust measures and increased regulatory oversight of financial institutions.
400

Who introduced the St. Patrick halfpenny in New Jersey?

  • Mark Newbie introduced the St. Patrick halfpenny in 1682.
400

The First bank of England made Colonist worried that their bank would do what?

They were skeptical that the bank would give money to someone powerful such as a king

400

What were the effects of the South Sea Bubble in 1720?

  • It caused the first economic collapse due to inflated stock prices resulting from speculation.
400

 What are the roles of the Federal Open Market Committee (FOMC)?

  • The FOMC sets interest rates and controls the money supply through open market operations.
400

What political cartoon depicted Andrew Jackson and the Second Bank as what enemies or allies?

  • Various political cartoons illustrated Jackson's conflict with the Second Bank, enemies 
500

Name two economic consequences of a Bank Run

Panic

Business cant get loans 

People are laid off

consumers lose their money 

More banks close due to distrust

500

Why was the Bank of North America's charter revoked in 1785?

  • Its charter was revoked due to concerns about foreign influence and unfair competition.
500

Describe the impact of the various panics during the late 19th and early 20th centuries

  • These panics revealed the instability of the banking system and underscored the need for a central banking authority to manage economic fluctuations
  • Double Jeopardy
500

Who is the current leader of the Federal Reserve

DOUBLE JEOPARDY

Powell

500

Describe the conflict surrounding the establishment of the First Bank of the United States.  

  • The establishment faced opposition from Southerners who viewed it as unconstitutional and favoring Northern interests.