Evolution of Paper Money & Commercial Banking in US .... been chartered, only those in New England and New York State were prohibited from issuing bank notes in excess of their capital reserves (Parkes, 1953, p. 175 .... (1823 7 )
US Free Banking Period .... The National Bank Act became law in 1863, and its provisions made it more difficult for the remaining free banks to operate (Parkes, 1953, p. 373). .... (4955 20 )
History of Financial Panics & Crises in the US .... been chartered, only those in New England and New York State were prohibited from issuing bank notes in excess of their capital reserves (Parkes, 1953, p. 175 .... (6218 25 )
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